Cover
Cover - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Jan. 31, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-K | |
Document Annual Report | true | |
Document Period End Date | Dec. 31, 2022 | |
Current Fiscal Year End Date | --12-31 | |
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 Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
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 | FY | |
Entity Central Index Key | 0001081316 | |
Entity Public Float | $ 0 | |
PAC | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
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 Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
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 | |
Entity Public Float | $ 0 | |
MidAmerican Funding, LLC | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
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 Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | Yes | |
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 | |
Entity Public Float | $ 0 | |
MEC | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
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 Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
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 | |
Entity Public Float | $ 0 | |
NPC | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
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 | |
Title of 12(g) Security | Common Stock, $1.00 stated value | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
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 | |
Entity Public Float | $ 0 | |
SPPC | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-00508 | |
Entity Registrant Name | SIERRA PACIFIC POWER COMPANY | |
Entity Tax Identification Number | 88-0044418 | |
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 | |
Title of 12(g) Security | Common Stock, $3.75 par value | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
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 | |
Entity Public Float | $ 0 | |
EEGH | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
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 Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
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 | |
Entity Public Float | $ 0 | |
EGTS | ||
Document Information [Line Items] | ||
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-266049 | |
Entity Registrant Name | EASTERN GAS TRANSMISSION AND STORAGE, INC. | |
Entity Tax Identification Number | 55-0629203 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 6603 West Broad Street | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
City Area Code | 804 | |
Local Phone Number | 613-5100 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 60,101 | |
Entity Central Index Key | 0001936737 | |
Entity Public Float | $ 0 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2022 | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Des Moines, Iowa |
Auditor firm ID | 34 |
PAC | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Portland, Oregon |
Auditor firm ID | 34 |
MEC | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Des Moines, Iowa |
Auditor firm ID | 34 |
MidAmerican Funding, LLC | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Des Moines, Iowa |
Auditor firm ID | 34 |
NPC | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Las Vegas, Nevada |
Auditor firm ID | 34 |
SPPC | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Las Vegas, Nevada |
Auditor firm ID | 34 |
EEGH | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Richmond, Virginia |
Auditor firm ID | 34 |
EGTS | |
Auditor [Line Items] | |
Auditor name | Deloitte & Touche LLP |
Auditor location | Richmond, Virginia |
Auditor firm ID | 34 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Investments and restricted cash and cash equivalents | 2,141 | 172 |
Trade receivables, net | 2,876 | 2,468 |
Inventories | 1,256 | 1,122 |
Mortgage loans held for sale | 474 | 1,263 |
Regulatory assets | 1,319 | 544 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Property, plant and equipment, net | 93,043 | 89,816 |
Goodwill | 11,489 | 11,650 |
Regulatory assets | 3,743 | 3,419 |
Investments and restricted cash and cash equivalents and investments | 11,273 | 15,788 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Accrued employee expenses | 333 | 372 |
Short-term debt | 1,119 | 2,009 |
Current portion of long-term debt | 3,201 | 1,265 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
BHE senior debt | 13,096 | 13,003 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 35,238 | 35,394 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock | 850 | 1,650 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Long-term income tax receivable | 0 | (744) |
Retained earnings | 41,833 | 40,754 |
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total shareholder's equity | 46,832 | 46,694 |
Noncontrolling interests | 3,807 | 3,895 |
Total equity | 50,639 | 50,589 |
Total liabilities and shareholder's equity | $ 133,840 | $ 132,065 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions | Dec. 31, 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 - P
Consolidated Balance Sheets - PAC - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Inventories | 1,256 | 1,122 |
Regulatory assets | 1,319 | 544 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Regulatory assets | 3,743 | 3,419 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Accrued employee expenses | 333 | 372 |
Current portion of long-term debt | 3,201 | 1,265 |
Regulatory liabilities | 299 | 254 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 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 | 41,833 | 40,754 |
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 641 | 179 |
Trade receivables, net | 825 | 725 |
Other receivables | 72 | 52 |
Inventories | 474 | 474 |
Derivative contracts | 184 | 76 |
Regulatory assets | 275 | 65 |
Other current assets | 213 | 150 |
Total current assets | 2,684 | 1,721 |
Property, plant and equipment, net | 24,430 | 22,914 |
Regulatory assets | 1,605 | 1,287 |
Other assets | 686 | 534 |
Total assets | 29,405 | 26,456 |
Current liabilities: | ||
Accounts payable | 1,049 | 680 |
Accrued interest | 128 | 121 |
Accrued property, income and other taxes | 67 | 78 |
Accrued employee expenses | 86 | 89 |
Current portion of long-term debt | 449 | 155 |
Regulatory liabilities | 96 | 118 |
Other current liabilities | 271 | 219 |
Total current liabilities | 2,146 | 1,460 |
Long-term debt | 9,217 | 8,575 |
Regulatory liabilities | 2,843 | 2,650 |
Deferred income taxes | 3,152 | 2,847 |
Other long-term liabilities | 1,306 | 1,011 |
Total liabilities | 18,664 | 16,543 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 6,269 | 5,449 |
Accumulated other comprehensive loss, net | (9) | (17) |
Total shareholder's equity | 10,741 | 9,913 |
Total liabilities and shareholder's equity | $ 29,405 | $ 26,456 |
Consolidated Balance Sheets -_2
Consolidated Balance Sheets - PAC (Parenthetical) - $ / shares shares in Millions | Dec. 31, 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 - MEC
Balance Sheets - MEC - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Inventories | 1,256 | 1,122 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Regulatory assets | 3,743 | 3,419 |
Investments and restricted cash and cash equivalents and investments | 11,273 | 15,788 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Current portion of long-term debt | 3,201 | 1,265 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 41,833 | 40,754 |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 258 | 232 |
Trade receivables, net | 536 | 526 |
Income taxes receivable | 42 | 79 |
Inventories | 277 | 234 |
Prepayments | 91 | 71 |
Other current assets | 66 | 52 |
Total current assets | 1,270 | 1,194 |
Property, plant and equipment, net | 21,091 | 20,301 |
Regulatory assets | 550 | 473 |
Investments and restricted cash and cash equivalents and investments | 902 | 1,026 |
Other assets | 165 | 263 |
Total assets | 23,978 | 23,257 |
Current liabilities: | ||
Accounts payable | 536 | 531 |
Accrued interest | 85 | 84 |
Accrued property, income and other taxes | 170 | 158 |
Current portion of long-term debt | 317 | 0 |
Other current liabilities | 93 | 145 |
Total current liabilities | 1,201 | 918 |
Long-term debt | 7,412 | 7,721 |
Regulatory liabilities | 1,119 | 1,080 |
Deferred income taxes | 3,433 | 3,389 |
Asset retirement obligations | 683 | 714 |
Other long-term liabilities | 485 | 475 |
Total liabilities | 14,333 | 14,297 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 9,084 | 8,399 |
Total shareholder's equity | 9,645 | 8,960 |
Total liabilities and shareholder's equity | $ 23,978 | $ 23,257 |
Balance Sheets - MEC (Parenthet
Balance Sheets - MEC (Parenthetical) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Common stock, shares authorized | 115,000,000 | 115,000,000 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 76,000,000 | 76,000,000 |
Common stock, shares outstanding | 76,000,000 | 76,000,000 |
MEC | ||
Common stock, shares authorized | 350,000,000 | 350,000,000 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued | 71,000,000 | 71,000,000 |
Common stock, shares outstanding | 71,000,000 | 71,000,000 |
Consolidated Balance Sheets - M
Consolidated Balance Sheets - MidAmerican Funding LLC - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Inventories | 1,256 | 1,122 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Property, plant and equipment, net | 93,043 | 89,816 |
Goodwill | 11,489 | 11,650 |
Regulatory assets | 3,743 | 3,419 |
Investments and restricted cash and cash equivalents and investments | 11,273 | 15,788 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Current portion of long-term debt | 3,201 | 1,265 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 41,833 | 40,754 |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 261 | 233 |
Trade receivables, net | 536 | 526 |
Income taxes receivable | 43 | 80 |
Inventories | 277 | 234 |
Prepayments | 91 | 71 |
Other current assets | 66 | 52 |
Total current assets | 1,274 | 1,196 |
Property, plant and equipment, net | 21,092 | 20,302 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 550 | 473 |
Investments and restricted cash and cash equivalents and investments | 904 | 1,028 |
Other assets | 164 | 262 |
Total assets | 25,254 | 24,531 |
Current liabilities: | ||
Accounts payable | 536 | 531 |
Accrued interest | 90 | 89 |
Accrued property, income and other taxes | 170 | 158 |
Note payable to affiliate | 0 | 189 |
Current portion of long-term debt | 317 | 0 |
Other current liabilities | 93 | 146 |
Total current liabilities | 1,206 | 1,113 |
Long-term debt | 7,652 | 7,961 |
Regulatory liabilities | 1,119 | 1,080 |
Deferred income taxes | 3,431 | 3,387 |
Asset retirement obligations | 683 | 714 |
Other long-term liabilities | 484 | 475 |
Total liabilities | 14,575 | 14,730 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 9,000 | 8,122 |
Total shareholder's equity | 10,679 | 9,801 |
Total liabilities and shareholder's equity | $ 25,254 | $ 24,531 |
Consolidated Balance Sheets - N
Consolidated Balance Sheets - NPC - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Inventories | 1,256 | 1,122 |
Regulatory assets | 1,319 | 544 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Regulatory assets | 3,743 | 3,419 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Short-term debt | 1,119 | 2,009 |
Regulatory liabilities | 299 | 254 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 41,833 | 40,754 |
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 43 | 33 |
Trade receivables, net | 388 | 227 |
Notes receivable - affiliate | 100 | 0 |
Inventories | 93 | 64 |
Regulatory assets | 666 | 291 |
Other current assets | 89 | 86 |
Total current assets | 1,379 | 701 |
Property, plant and equipment, net | 7,406 | 6,891 |
Regulatory assets | 628 | 728 |
Other assets | 388 | 432 |
Total assets | 9,801 | 8,752 |
Current liabilities: | ||
Accounts payable | 422 | 242 |
Accrued interest | 40 | 32 |
Accrued property, income and other taxes | 32 | 29 |
Short-term debt | 0 | 180 |
Regulatory liabilities | 45 | 49 |
Customer deposits | 51 | 44 |
Derivative contracts | 51 | 55 |
Other current liabilities | 49 | 62 |
Total current liabilities | 690 | 693 |
Long-term debt | 3,195 | 2,499 |
Finance lease obligations | 295 | 310 |
Regulatory liabilities | 1,093 | 1,100 |
Deferred income taxes | 875 | 782 |
Other long-term liabilities | 299 | 338 |
Total liabilities | 6,447 | 5,722 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,333 | 2,308 |
Retained earnings | 1,022 | 724 |
Accumulated other comprehensive loss, net | (1) | (2) |
Total shareholder's equity | 3,354 | 3,030 |
Total liabilities and shareholder's equity | $ 9,801 | $ 8,752 |
Consolidated Balance Sheets -_3
Consolidated Balance Sheets - NPC (Parenthetical) - $ / shares | Dec. 31, 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 - S
Consolidated Balance Sheets - SPPC - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Inventories | 1,256 | 1,122 |
Regulatory assets | 1,319 | 544 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Regulatory assets | 3,743 | 3,419 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Short-term debt | 1,119 | 2,009 |
Current portion of long-term debt | 3,201 | 1,265 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Deferred income taxes | 12,678 | 12,938 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 41,833 | 40,754 |
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 49 | 10 |
Trade receivables, net | 175 | 128 |
Inventories | 79 | 65 |
Regulatory assets | 357 | 177 |
Other current assets | 50 | 35 |
Total current assets | 710 | 415 |
Property, plant and equipment, net | 3,587 | 3,340 |
Regulatory assets | 254 | 263 |
Other assets | 181 | 205 |
Total assets | 4,732 | 4,223 |
Current liabilities: | ||
Accounts payable | 224 | 147 |
Note payable to affiliate | 70 | 0 |
Short-term debt | 0 | 159 |
Current portion of long-term debt | 250 | 0 |
Other current liabilities | 108 | 108 |
Total current liabilities | 652 | 414 |
Long-term debt | 898 | 1,164 |
Finance lease obligations | 100 | 106 |
Regulatory liabilities | 436 | 444 |
Deferred income taxes | 445 | 402 |
Other long-term liabilities | 153 | 158 |
Total liabilities | 2,684 | 2,688 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,576 | 1,111 |
Retained earnings | 473 | 425 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 2,048 | 1,535 |
Total liabilities and shareholder's equity | $ 4,732 | $ 4,223 |
Consolidated Balance Sheets -SP
Consolidated Balance Sheets -SPPC (Parenthetical) - $ / shares | Dec. 31, 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 - E
Consolidated Balance Sheets - EEGH - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Investments and restricted cash and cash equivalents | 173 | 127 |
Trade receivables, net | 2,876 | 2,468 |
Inventories | 1,256 | 1,122 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Property, plant and equipment, net | 93,043 | 89,816 |
Goodwill | 11,489 | 11,650 |
Investments | 11,273 | 15,788 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued interest | 558 | 537 |
Accrued property, income and other taxes | 746 | 606 |
Accrued employee expenses | 333 | 372 |
Regulatory liabilities | 299 | 254 |
Current portion of long-term debt | 3,201 | 1,265 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 65 | 22 |
Investments and restricted cash and cash equivalents | 30 | 17 |
Trade receivables, net | 202 | 183 |
Receivables from affiliates | 30 | 47 |
Notes receivable - affiliate | 536 | 7 |
Inventories | 127 | 122 |
Prepayments | 78 | 76 |
Regulatory assets | 193 | 100 |
Other current assets | 42 | 47 |
Total current assets | 1,303 | 621 |
Property, plant and equipment, net | 10,202 | 10,200 |
Goodwill | 1,286 | 1,286 |
Investments | 278 | 412 |
Other assets | 95 | 129 |
Total assets | 13,164 | 12,648 |
Current liabilities: | ||
Accounts payable | 86 | 79 |
Accounts payable to affiliates | 10 | 38 |
Accrued interest | 19 | 19 |
Accrued property, income and other taxes | 77 | 89 |
Accrued employee expenses | 14 | 13 |
Regulatory liabilities | 126 | 40 |
Asset retirement obligation | 25 | 33 |
Current portion of long-term debt | 649 | 0 |
Other current liabilities | 107 | 54 |
Total current liabilities | 1,113 | 365 |
Long-term debt | 3,243 | 3,906 |
Regulatory liabilities | 596 | 645 |
Other long-term liabilities | 324 | 238 |
Total liabilities | 5,276 | 5,154 |
Commitments and contingencies | ||
Member's equity: | ||
Membership interests | 3,983 | 3,501 |
Accumulated other comprehensive loss, net | (42) | (43) |
Total member's equity | 3,941 | 3,458 |
Noncontrolling interests | 3,947 | 4,036 |
Total equity | 7,888 | 7,494 |
Total liabilities and shareholder's equity | $ 13,164 | $ 12,648 |
Consolidated Balance Sheets -_4
Consolidated Balance Sheets - EGTS - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,591 | $ 1,096 |
Investments and restricted cash and cash equivalents | 173 | 127 |
Trade receivables, net | 2,876 | 2,468 |
Inventories | 1,256 | 1,122 |
Other current assets | 1,345 | 1,583 |
Total current assets | 11,002 | 8,248 |
Property, plant and equipment, net | 93,043 | 89,816 |
Other assets | 3,290 | 3,144 |
Total assets | 133,840 | 132,065 |
Current liabilities: | ||
Accounts payable | 2,679 | 2,136 |
Accrued property, income and other taxes | 746 | 606 |
Accrued employee expenses | 333 | 372 |
Regulatory liabilities | 299 | 254 |
Other current liabilities | 1,677 | 1,837 |
Total current liabilities | 10,313 | 8,762 |
Regulatory liabilities | 7,070 | 6,960 |
Other long-term liabilities | 4,706 | 4,319 |
Total liabilities | 83,201 | 81,476 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,298 | 6,374 |
Retained earnings | 41,833 | 40,754 |
Accumulated other comprehensive loss, net | (2,149) | (1,340) |
Total shareholder's equity | 46,832 | 46,694 |
Total liabilities and shareholder's equity | 133,840 | 132,065 |
EGTS | ||
Current assets: | ||
Cash and cash equivalents | 16 | 11 |
Investments and restricted cash and cash equivalents | 29 | 15 |
Trade receivables, net | 113 | 98 |
Receivables from affiliates | 13 | 9 |
Inventories | 50 | 48 |
Income taxes receivable | 21 | 19 |
Prepayments | 36 | 35 |
Natural gas imbalances | 193 | 94 |
Other current assets | 9 | 10 |
Total current assets | 480 | 339 |
Property, plant and equipment, net | 4,504 | 4,440 |
Notes receivable from affiliates | 0 | 3 |
Other assets | 190 | 319 |
Total assets | 5,174 | 5,101 |
Current liabilities: | ||
Accounts payable | 46 | 54 |
Accounts payable to affiliates | 5 | 13 |
Accrued property, income and other taxes | 71 | 71 |
Accrued employee expenses | 13 | 12 |
Note payable to affiliate | 36 | 68 |
Regulatory liabilities | 109 | 25 |
Customer and security deposits | 29 | 15 |
Asset retirement obligation | 25 | 33 |
Other current liabilities | 39 | 37 |
Total current liabilities | 373 | 328 |
Long-term debt | 1,582 | 1,581 |
Regulatory liabilities | 518 | 507 |
Other long-term liabilities | 101 | 145 |
Total liabilities | 2,574 | 2,561 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 609 | 609 |
Additional paid-in capital | 1,275 | 1,241 |
Retained earnings | 746 | 721 |
Accumulated other comprehensive loss, net | (30) | (31) |
Total shareholder's equity | 2,600 | 2,540 |
Total liabilities and shareholder's equity | $ 5,174 | $ 5,101 |
Consolidated Balance Sheets -_5
Consolidated Balance Sheets - EGTS (Parenthetical) - $ / shares | Dec. 31, 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 |
EGTS | ||
Common stock, shares authorized | 75,000 | 75,000 |
Common stock, par value (in dollars per share) | $ 10,000 | $ 10,000 |
Common stock, shares issued | 60,101 | 60,101 |
Common stock, shares outstanding | 60,101 | 60,101 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating revenue: | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Energy: | |||
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Operations and maintenance | 4,217 | 3,991 | 3,545 |
Depreciation and amortization | 4,230 | 3,829 | 3,410 |
Property and other taxes | 775 | 789 | 634 |
Real estate | 5,117 | 5,710 | 4,885 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Capitalized interest | 76 | 64 | 80 |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
(Losses) gains on marketable securities, net | (2,002) | 1,823 | 4,797 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Equity income (loss) | (185) | (237) | (149) |
Net income | 3,144 | 6,189 | 7,014 |
Net income attributable to noncontrolling interests | 423 | 399 | 71 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
Preferred dividends | 46 | 121 | 26 |
Earnings on common shares | 2,675 | 5,669 | 6,917 |
Energy | |||
Operating revenue: | |||
Total operating revenue | 21,069 | 18,935 | 15,556 |
Real estate | |||
Operating revenue: | |||
Total operating revenue | $ 5,268 | $ 6,215 | $ 5,396 |
Consolidated Statements of Op_2
Consolidated Statements of Operations - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for borrowed funds | 76 | 64 | 80 |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
PAC | |||
Revenues | 5,679 | 5,296 | 5,341 |
Operating expenses: | |||
Cost of fuel and energy | 1,979 | 1,831 | 1,790 |
Operations and maintenance | 1,227 | 1,031 | 1,209 |
Depreciation and amortization | 1,120 | 1,088 | 1,209 |
Property and other taxes | 195 | 213 | 209 |
Total operating expenses | 4,521 | 4,163 | 4,417 |
Operating income | 1,158 | 1,133 | 924 |
Other income (expense): | |||
Interest expense | (431) | (430) | (426) |
Allowance for borrowed funds | 31 | 24 | 48 |
Allowance for equity funds | 71 | 50 | 98 |
Interest and dividend income | 44 | 24 | 10 |
Other, net | (15) | 8 | 10 |
Total other income (expense) | (300) | (324) | (260) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 858 | 809 | 664 |
Income tax (benefit) expense | (62) | (79) | (75) |
Net income (loss) attributable to parent | $ 920 | $ 888 | $ 739 |
Statements of Operations - MEC
Statements of Operations - MEC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating revenue: | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for equity funds | 167 | 126 | 165 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
MEC | |||
Operating revenue: | |||
Total operating revenue | 4,025 | 3,547 | 2,720 |
Operating expenses: | |||
Operations and maintenance | 828 | 775 | 754 |
Depreciation and amortization | 1,168 | 914 | 716 |
Property and other taxes | 149 | 142 | 135 |
Total operating expenses | 3,587 | 3,131 | 2,272 |
Operating income | 438 | 416 | 448 |
Other income (expense): | |||
Interest expense | (313) | (302) | (304) |
Allowance for borrowed funds | 15 | 13 | 15 |
Allowance for equity funds | 51 | 39 | 45 |
Other, net | 0 | 53 | 52 |
Total other income (expense) | (247) | (197) | (192) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 191 | 219 | 256 |
Income tax (benefit) expense | (770) | (675) | (570) |
Net income (loss) attributable to parent | 961 | 894 | 826 |
Regulated electric | MEC | |||
Operating revenue: | |||
Total operating revenue | 2,988 | 2,529 | 2,139 |
Operating expenses: | |||
Cost of fuel and energy | 679 | 539 | 339 |
Regulated natural gas and other | MEC | |||
Operating revenue: | |||
Total operating revenue | 1,037 | 1,018 | 581 |
Operating expenses: | |||
Cost of fuel and energy | $ 763 | $ 761 | $ 328 |
Consolidated Statements of Op_3
Consolidated Statements of Operations - MidAmerican Funding LLC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating revenue: | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for equity funds | 167 | 126 | 165 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 4,025 | 3,547 | 2,728 |
Operating expenses: | |||
Operations and maintenance | 828 | 775 | 755 |
Depreciation and amortization | 1,168 | 914 | 716 |
Property and other taxes | 149 | 142 | 135 |
Total operating expenses | 3,587 | 3,131 | 2,274 |
Operating income | 438 | 416 | 454 |
Other income (expense): | |||
Interest expense | (333) | (319) | (322) |
Allowance for borrowed funds | 15 | 13 | 15 |
Allowance for equity funds | 51 | 39 | 45 |
Other, net | 0 | 54 | 52 |
Total other income (expense) | (267) | (213) | (210) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 171 | 203 | 244 |
Income tax (benefit) expense | (776) | (680) | (574) |
Net income (loss) attributable to parent | 947 | 883 | 818 |
Regulated electric | MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 2,988 | 2,529 | 2,139 |
Operating expenses: | |||
Cost of fuel and energy | 679 | 539 | 339 |
Regulated natural gas and other | MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 1,037 | 1,018 | 589 |
Operating expenses: | |||
Cost of fuel and energy | $ 763 | $ 761 | $ 329 |
Consolidated Statements of Op_4
Consolidated Statements of Operations - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Capitalized interest | 76 | 64 | 80 |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
NPC | |||
Revenues | 2,630 | 2,139 | 1,998 |
Operating expenses: | |||
Cost of fuel and energy | 1,427 | 939 | 816 |
Operations and maintenance | 303 | 301 | 299 |
Depreciation and amortization | 417 | 406 | 361 |
Property and other taxes | 53 | 48 | 47 |
Total operating expenses | 2,200 | 1,694 | 1,523 |
Operating income | 430 | 445 | 475 |
Other income (expense): | |||
Interest expense | (165) | (153) | (162) |
Capitalized interest | 8 | 3 | 3 |
Allowance for equity funds | 11 | 7 | 7 |
Interest and dividend income | 47 | 20 | 10 |
Other, net | 3 | 18 | 9 |
Total other income (expense) | (96) | (105) | (133) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 334 | 340 | 342 |
Income tax (benefit) expense | 36 | 37 | 47 |
Net income (loss) attributable to parent | $ 298 | $ 303 | $ 295 |
Consolidated Statements of Op_5
Consolidated Statements of Operations - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Cost of fuel and energy | 6,757 | 5,504 | 4,187 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
SPPC | |||
Total operating revenue | 1,193 | 965 | 854 |
Operations and maintenance | 189 | 163 | 162 |
Depreciation and amortization | 149 | 143 | 141 |
Property and other taxes | 24 | 24 | 23 |
Total operating expenses | 1,028 | 798 | 689 |
Operating income | 165 | 167 | 165 |
Interest expense | (58) | (54) | (56) |
Allowance for borrowed funds | 3 | 2 | 2 |
Allowance for equity funds | 7 | 7 | 4 |
Interest and dividend income | 18 | 9 | 4 |
Other, net | 2 | 11 | 7 |
Total other income (expense) | (28) | (25) | (39) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 137 | 142 | 126 |
Income tax (benefit) expense | 19 | 18 | 15 |
Net income (loss) attributable to parent | 118 | 124 | 111 |
SPPC | Regulated electric | |||
Total operating revenue | 1,025 | 848 | 738 |
Cost of fuel and energy | 555 | 407 | 301 |
SPPC | Regulated natural gas | |||
Total operating revenue | 168 | 117 | 116 |
Cost of fuel and energy | $ 111 | $ 61 | $ 62 |
Consolidated Statements of Op_6
Consolidated Statements of Operations - EEGH - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Equity income | (185) | (237) | (149) |
Net income | 3,144 | 6,189 | 7,014 |
Net income attributable to noncontrolling interests | 423 | 399 | 71 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
EEGH | |||
Revenues | 2,006 | 1,870 | 2,090 |
Operating expenses: | |||
(Excess) cost of gas | (30) | 12 | 24 |
Operations and maintenance | 530 | 515 | 1,142 |
Depreciation and amortization | 321 | 328 | 366 |
Property and other taxes | 139 | 149 | 140 |
Total operating expenses | 960 | 1,004 | 1,672 |
Operating income | 1,046 | 866 | 418 |
Other income (expense): | |||
Interest expense | (147) | (151) | (339) |
Allowance for borrowed funds | 2 | 2 | 6 |
Allowance for equity funds | 6 | 7 | 13 |
Interest and dividend income | 7 | 0 | 67 |
Other, net | (1) | 1 | 42 |
Total other income (expense) | (133) | (141) | (211) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 913 | 725 | 207 |
Income tax (benefit) expense | 167 | 117 | (24) |
Equity income | 103 | 44 | 42 |
Net income | 849 | 652 | 273 |
Net income attributable to noncontrolling interests | 423 | 390 | 164 |
Net income (loss) attributable to parent | $ 426 | $ 262 | $ 109 |
Consolidated Statements of Op_7
Consolidated Statements of Operations - EGTS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating expenses: | |||
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Allowance for borrowed funds | 76 | 64 | 80 |
Allowance for equity funds | 167 | 126 | 165 |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
EGTS | |||
Revenues | 973 | 891 | 916 |
Operating expenses: | |||
(Excess) cost of gas | (33) | 13 | 21 |
Operations and maintenance | 364 | 376 | 392 |
Depreciation and amortization | 152 | 166 | 163 |
Property and other taxes | 54 | 62 | 53 |
Disallowance and abandonment of utility plant | 0 | (11) | 525 |
Total operating expenses | 537 | 606 | 1,154 |
Operating income | 436 | 285 | (238) |
Other income (expense): | |||
Interest expense | (69) | (78) | (89) |
Allowance for borrowed funds | 1 | 2 | 5 |
Allowance for equity funds | 4 | 6 | 12 |
Other, net | (2) | 2 | 62 |
Total other income (expense) | (66) | (68) | (10) |
Income (loss) before income tax expense (benefit) | 370 | 217 | (248) |
Income tax (benefit) expense | 109 | 61 | (67) |
Net income (loss) attributable to parent | $ 261 | $ 156 | $ (181) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 3,144 | $ 6,189 | $ 7,014 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | (72) | 174 | (65) |
Foreign currency translation adjustment | (810) | (24) | 234 |
Unrealized gains (losses) on cash flow hedges, net of tax | 76 | 67 | (15) |
Total other comprehensive (loss) income, net of tax | (806) | 217 | 154 |
Comprehensive income | 2,338 | 6,406 | 7,168 |
Comprehensive income attributable to noncontrolling interests | 426 | 404 | 71 |
Comprehensive income (loss) attributable to parent | $ 1,912 | $ 6,002 | $ 7,097 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unrecognized amounts on retirement benefits, tax | $ (23) | $ 55 | $ (19) |
Unrealized gains (losses) on cash flow hedges, tax | 20 | 10 | (3) |
PAC | |||
Unrecognized amounts on retirement benefits, tax | 3 | 1 | (1) |
EEGH | |||
Unrecognized amounts on retirement benefits, tax | 0 | 0 | 40 |
Unrealized gains (losses) on cash flow hedges, tax | $ 0 | $ 1 | $ 10 |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | (72) | 174 | (65) |
Comprehensive income (loss) attributable to parent | 1,912 | 6,002 | 7,097 |
PAC | |||
Net income attributable to parent | 920 | 888 | 739 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 8 | 2 | (3) |
Comprehensive income (loss) attributable to parent | $ 928 | $ 890 | $ 736 |
Consolidated Statements of Co_4
Consolidated Statements of Comprehensive Income - EEGH - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income | $ 3,144 | $ 6,189 | $ 7,014 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | (72) | 174 | (65) |
Unrealized gains (losses) on cash flow hedges, net of tax | 76 | 67 | (15) |
Total other comprehensive (loss) income, net of tax | (806) | 217 | 154 |
Comprehensive income | 2,338 | 6,406 | 7,168 |
Comprehensive income attributable to noncontrolling interests | 426 | 404 | 71 |
Comprehensive income (loss) attributable to parent | 1,912 | 6,002 | 7,097 |
EEGH | |||
Net income | 849 | 652 | 273 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 5 | 6 | 94 |
Unrealized gains (losses) on cash flow hedges, net of tax | (1) | 9 | 30 |
Total other comprehensive (loss) income, net of tax | 4 | 15 | 124 |
Comprehensive income | 853 | 667 | 397 |
Comprehensive income attributable to noncontrolling interests | 426 | 395 | 154 |
Comprehensive income (loss) attributable to parent | $ 427 | $ 272 | $ 243 |
Consolidated Statements of Co_5
Consolidated Statements of Comprehensive Income - EGTS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | (72) | 174 | (65) |
Comprehensive income (loss) attributable to parent | 1,912 | 6,002 | 7,097 |
EGTS | |||
Net income attributable to parent | 261 | 156 | (181) |
Other comprehensive (loss) income, net of tax: | |||
Unrealized gains (losses) on cash flow hedges, net of tax | 1 | (31) | 0 |
Unrecognized amounts on retirement benefits, net of tax | 0 | 0 | 77 |
Total other comprehensive (loss) income, net of tax | 1 | (31) | 77 |
Comprehensive income (loss) attributable to parent | $ 262 | $ 125 | $ (104) |
Consolidated Statements of Co_6
Consolidated Statements of Comprehensive Income - EGTS (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unrealized gains (losses) on cash flow hedges, tax | $ 20 | $ 10 | $ (3) |
Unrecognized amounts on retirement benefits, tax | (23) | 55 | (19) |
EGTS | |||
Unrealized gains (losses) on cash flow hedges, tax | 1 | (12) | 0 |
Unrecognized amounts on retirement benefits, tax | $ 0 | $ 0 | $ 30 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Millions | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Long-Term Income Tax Receivable | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest |
Beginning balance at Dec. 31, 2019 | $ 32,578 | $ 0 | $ 0 | $ 6,389 | $ (530) | $ 28,296 | $ (1,706) | $ 129 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 7,013 | 6,943 | 70 | |||||
Other comprehensive income (loss) | 154 | 154 | 0 | |||||
Long-term income tax receivable adjustments | (128) | 0 | (128) | |||||
Issuance of preferred stock | 3,750 | 3,750 | ||||||
Preferred stock dividend | (26) | (26) | ||||||
Common stock purchases | (126) | (6) | (120) | |||||
Distributions | (121) | (121) | ||||||
Purchase of noncontrolling interest | (33) | (5) | (28) | |||||
BHE GT&S acquisition - noncontrolling interest | 3,916 | 0 | 3,916 | |||||
Other equity transactions | 0 | (1) | 1 | |||||
Ending 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 | 6,187 | 5,790 | 397 | |||||
Other comprehensive income (loss) | 217 | 212 | 5 | |||||
Long-term income tax receivable adjustments | (94) | (86) | (8) | |||||
Preferred stock redemptions | (2,100) | (2,100) | ||||||
Preferred stock dividend | (121) | (121) | ||||||
Distributions | (478) | (478) | ||||||
Contributions | 9 | 9 | ||||||
Purchase of noncontrolling interest | (7) | (3) | (4) | |||||
Other equity transactions | (1) | (1) | ||||||
Ending 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 | 3,142 | 2,721 | 421 | |||||
Other comprehensive income (loss) | (806) | (809) | 3 | |||||
Long-term income tax receivable adjustments | (47) | 744 | (791) | |||||
Preferred stock redemptions | (800) | (800) | ||||||
Preferred stock dividend | (46) | (46) | ||||||
Common stock purchases | (870) | (77) | (793) | |||||
Distributions | (522) | (522) | ||||||
Contributions | 5 | 5 | ||||||
Purchase of noncontrolling interest | 6 | 6 | ||||||
Other equity transactions | (12) | 1 | (12) | (1) | ||||
Ending balance at Dec. 31, 2022 | $ 50,639 | $ 850 | $ 0 | $ 6,298 | $ 0 | $ 41,833 | $ (2,149) | $ 3,807 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity - PAC - USD ($) $ in Millions | Total | Accumulated Other Comprehensive Income (Loss) | PAC | PAC Preferred Stock | PAC Common Stock | PAC Additional Paid-in Capital | PAC Retained Earnings | PAC Accumulated Other Comprehensive Income (Loss) |
Balance at Dec. 31, 2019 | $ 8,437 | $ 2 | $ 0 | $ 4,479 | $ 3,972 | $ (16) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to parent | $ 6,943 | 739 | 739 | |||||
Other comprehensive income (loss) | 154 | $ 154 | (3) | (3) | ||||
Balance at Dec. 31, 2020 | 9,173 | 2 | 0 | 4,479 | 4,711 | (19) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to parent | 5,790 | 888 | 888 | |||||
Other comprehensive income (loss) | 217 | 212 | 2 | 2 | ||||
Dividends declared | (150) | (150) | ||||||
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 attributable to parent | 2,721 | 920 | 920 | |||||
Other comprehensive income (loss) | (806) | $ (809) | 8 | 8 | ||||
Dividends declared | (100) | (100) | ||||||
Balance at Dec. 31, 2022 | $ 46,832 | $ 10,741 | $ 2 | $ 0 | $ 4,479 | $ 6,269 | $ (9) |
Statements of Changes in Shareh
Statements of Changes in Shareholder's Equity - 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, 2019 | $ 7,240 | $ 0 | $ 561 | $ 6,679 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | $ 6,943 | 826 | 826 | ||||
Other equity transactions | 0 | $ (1) | (1) | (1) | |||
Balance at Dec. 31, 2020 | 8,065 | 0 | 561 | 7,504 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | 5,790 | 894 | 894 | ||||
Other equity transactions | (1) | 1 | 1 | ||||
Balance at Dec. 31, 2021 | 46,694 | 8,960 | 0 | 561 | 8,399 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | 2,721 | 961 | 961 | ||||
Common stock dividends | (275) | (275) | |||||
Other equity transactions | (12) | $ 1 | $ (12) | (1) | (1) | ||
Balance at Dec. 31, 2022 | $ 46,832 | $ 9,645 | $ 0 | $ 561 | $ 9,084 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Member's Equity - 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, 2019 | $ 8,101 | $ 1,679 | $ 6,422 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 6,943 | 818 | 818 | |||
Other equity transactions | 0 | $ (1) | ||||
Balance at Dec. 31, 2020 | 8,919 | 1,679 | 7,240 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | 5,790 | 883 | 883 | |||
Other equity transactions | (1) | (1) | (1) | |||
Balance at Dec. 31, 2021 | 46,694 | 9,801 | 1,679 | 8,122 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | 2,721 | 947 | 947 | |||
Other equity transactions | (12) | $ 1 | $ (12) | |||
Distribution to member | (69) | (69) | ||||
Balance at Dec. 31, 2022 | $ 46,832 | $ 10,679 | $ 1,679 | $ 9,000 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Equity - NPC - USD ($) $ in Millions | Total | Additional Paid-in Capital | Retained Earnings | NPC | NPC Common Stock | NPC Additional Paid-in Capital | NPC Retained Earnings | NPC Accumulated Other Comprehensive Income (Loss) |
Balance (shares) at Dec. 31, 2019 | 1,000 | |||||||
Balance at Dec. 31, 2019 | $ 2,797 | $ 0 | $ 2,308 | $ 493 | $ (4) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to parent | $ 6,943 | 295 | 295 | |||||
Dividends declared | (155) | (155) | ||||||
Other equity transactions | 0 | $ (1) | 2 | 1 | 1 | |||
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 attributable to parent | 5,790 | 303 | 303 | |||||
Dividends declared | (213) | (213) | ||||||
Other equity transactions | $ (1) | $ 1 | 1 | |||||
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 attributable to parent | 2,721 | 298 | 298 | |||||
Contributions | 25 | 25 | ||||||
Other equity transactions | $ (12) | $ 1 | $ (12) | $ 1 | 1 | |||
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 1,000 | 1,000 | |||||
Balance at Dec. 31, 2022 | $ 46,832 | $ 3,354 | $ 0 | $ 2,333 | $ 1,022 | $ (1) |
Consolidated Statements of Ch_5
Consolidated Statements of Changes in Equity - SPPC - USD ($) $ in Millions | Total | SPPC | SPPC Common Stock | SPPC Additional Paid-in Capital | SPPC Retained Earnings | SPPC Accumulated Other Comprehensive Income (Loss) |
Balance (shares) at Dec. 31, 2019 | 1,000 | |||||
Balance at Dec. 31, 2019 | $ 1,320 | $ 0 | $ 1,111 | $ 210 | $ (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 6,943 | 111 | 111 | |||
Dividends declared | (20) | (20) | ||||
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 attributable to parent | $ 5,790 | $ 124 | 124 | |||
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 attributable to parent | $ 2,721 | 118 | 118 | |||
Dividends declared | (70) | (70) | ||||
Contributions | $ 465 | 465 | ||||
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2022 | $ 46,832 | $ 2,048 | $ 0 | $ 1,576 | $ 473 | $ (1) |
Consolidated Statements of Ch_6
Consolidated Statements of Changes in Equity - EEGH - USD ($) $ in Millions | Total | EEGH | Member Interests EEGH | Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) EEGH | Noncontrolling Interest | Noncontrolling Interest EEGH |
Beginning balance at Dec. 31, 2019 | $ 32,578 | $ 10,229 | $ 9,031 | $ (1,706) | $ (187) | $ 129 | $ 1,385 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 7,014 | 273 | 109 | 164 | |||
Other comprehensive income (loss) | 154 | 124 | 154 | 134 | 0 | (10) | |
Distributions | (121) | (4,498) | (4,282) | (121) | (216) | ||
Contributions | 1,223 | 1,223 | |||||
Distribution of Questar Pipeline Group | (699) | (699) | |||||
Purchase of noncontrolling interest | (33) | 0 | (2,765) | (28) | 2,765 | ||
Acquisition of Eastern Energy Gas by BHE | 3,916 | 343 | 343 | 0 | 3,916 | ||
Other equity transactions | 0 | 0 | (3) | 1 | 3 | ||
Ending 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 | 6,189 | 652 | 262 | 390 | |||
Other comprehensive income (loss) | 217 | 15 | 212 | 10 | 5 | 5 | |
Distributions | (478) | (587) | (137) | (478) | (450) | ||
Contributions | 9 | 419 | 419 | 9 | |||
Purchase of noncontrolling interest | (7) | (4) | |||||
Other equity transactions | (1) | (1) | |||||
Ending 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 | 3,144 | 849 | 426 | 423 | |||
Other comprehensive income (loss) | (806) | 4 | (809) | 1 | 3 | 3 | |
Distributions | (522) | (557) | (42) | (522) | (515) | ||
Contributions | 5 | 98 | 98 | 5 | |||
Purchase of noncontrolling interest | 6 | 6 | |||||
Other equity transactions | (12) | (1) | |||||
Ending balance at Dec. 31, 2022 | $ 50,639 | $ 7,888 | $ 3,983 | $ (2,149) | $ (42) | $ 3,807 | $ 3,947 |
Consolidated Statements of Ch_7
Consolidated Statements of Changes in Equity - EEGH (Parenthetical) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2020 | |
Cove Point LNG, LP | Dominion Energy, Inc. | ||
Ownership interest | 50% | 50% |
Consolidated Statements of Ch_8
Consolidated Statements of Changes in Equity - EGTS - USD ($) $ in Millions | Total | EGTS | Common Stock EGTS | Additional Paid-in Capital EGTS | Retained Earnings EGTS | Accumulated Other Comprehensive Income (Loss) EGTS |
Balance (shares) at Dec. 31, 2019 | 60,101,000,000 | |||||
Balance at Dec. 31, 2019 | $ 2,368 | $ 609 | $ 889 | $ 947 | $ (77) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 6,943 | (181) | (181) | |||
Other comprehensive income (loss) | 77 | 77 | ||||
Dividends declared | (125) | (125) | ||||
Acquisition of EGTS by BHE | 40 | 40 | ||||
Balance (shares) at Dec. 31, 2020 | 60,101,000,000 | |||||
Balance at Dec. 31, 2020 | 2,179 | $ 609 | 929 | 641 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 5,790 | 156 | 156 | |||
Other comprehensive income (loss) | (31) | (31) | ||||
Dividends declared | (76) | (76) | ||||
Contributions | $ 312 | 312 | ||||
Balance (shares) at Dec. 31, 2021 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Dec. 31, 2021 | $ 46,694 | $ 2,540 | $ 609 | 1,241 | 721 | (31) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 2,721 | 261 | 261 | |||
Other comprehensive income (loss) | 1 | 1 | ||||
Dividends declared | (236) | (236) | ||||
Contributions | $ 34 | 34 | ||||
Balance (shares) at Dec. 31, 2022 | 76,000,000 | 60,101 | 60,101,000,000 | |||
Balance at Dec. 31, 2022 | $ 46,832 | $ 2,600 | $ 609 | $ 1,275 | $ 746 | $ (30) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 3,144 | $ 6,189 | $ 7,014 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Losses (gains) on marketable securities, net | 2,002 | (1,823) | (4,797) |
Depreciation and amortization | 4,286 | 3,881 | 3,455 |
Allowance for equity funds | (167) | (126) | (165) |
Equity loss, net of distributions | 319 | 380 | 248 |
Net power cost deferrals | (1,290) | (520) | (62) |
Amortization of net power cost deferrals | 357 | 107 | (5) |
Other changes in regulatory assets and liabilities | (146) | (255) | (348) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Derivative collateral, net | 121 | 82 | 43 |
Pension and other postretirement benefit plans | (27) | (39) | (65) |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Acquisitions, net of cash acquired | (314) | (122) | (2,397) |
Purchases of marketable securities | (574) | (297) | (370) |
Proceeds from sales of marketable securities | 2,464 | 273 | 325 |
Purchases of other investments | (1,958) | (20) | (1,323) |
Proceeds from other investments | 6 | 1,300 | 13 |
Equity method investments | 119 | (212) | (2,724) |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 0 | 3,750 |
Preferred stock redemptions | (800) | (2,100) | 0 |
Preferred dividends | (50) | (132) | (7) |
Common stock purchases | (870) | 0 | (126) |
Proceeds from BHE senior debt | 986 | 0 | 5,212 |
Repayments of BHE senior debt | 0 | (450) | (350) |
Proceeds from subsidiary debt | 2,887 | 2,409 | 2,688 |
Repayments of subsidiary debt | (1,494) | (2,024) | (2,841) |
Net repayments of short-term debt | (867) | (276) | (939) |
Distributions to noncontrolling interests | (524) | (488) | (122) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Effect of exchange rate changes | (30) | 1 | 15 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 1,817 | $ 1,244 | $ 1,445 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (167) | (126) | (165) |
Deferred energy | (1,290) | (520) | (62) |
Amortization of deferred energy | 357 | 107 | (5) |
Other changes in regulatory assets and liabilities | (146) | (255) | (348) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Derivative collateral, net | 121 | 82 | 43 |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Net repayments of short-term debt | (867) | (276) | (939) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
PAC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 920 | 888 | 739 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 1,120 | 1,088 | 1,209 |
Allowance for equity funds | (71) | (50) | (98) |
Deferred energy | (482) | (159) | (1) |
Amortization of deferred energy | 100 | 67 | 50 |
Other changes in regulatory assets and liabilities | (162) | (97) | (278) |
Deferred income taxes and investment tax credits, net | 157 | 64 | (124) |
Other, net | 13 | (5) | 1 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (264) | 17 | (169) |
Inventories | 0 | 8 | (88) |
Derivative collateral, net | 95 | 19 | 23 |
Accrued property, income and other taxes, net | (46) | (37) | (53) |
Accounts payable and other liabilities | 439 | 1 | 372 |
Net cash flows from operating activities | 1,819 | 1,804 | 1,583 |
Cash flows from investing activities: | |||
Capital expenditures | (2,166) | (1,513) | (2,540) |
Other, net | 5 | 12 | 30 |
Net cash flows from investing activities | (2,161) | (1,501) | (2,510) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 1,087 | 984 | 987 |
Repayments of long-term debt | (155) | (870) | (38) |
Net repayments of short-term debt | 0 | (93) | (37) |
Dividends paid | (100) | (150) | 0 |
Other, net | (2) | (7) | (2) |
Net cash flows from financing activities | 830 | (136) | 910 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 488 | 167 | (17) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 186 | 19 | 36 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 674 | $ 186 | $ 19 |
Statements of Cash Flows - MEC
Statements of Cash Flows - MEC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (167) | (126) | (165) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Pension and other postretirement benefit plans | (27) | (39) | (65) |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Purchases of marketable securities | (574) | (297) | (370) |
Proceeds from sales of marketable securities | 2,464 | 273 | 325 |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
MEC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 961 | 894 | 826 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 1,168 | 914 | 716 |
Amortization of utility plant to other operating expenses | 35 | 34 | 34 |
Allowance for equity funds | (51) | (39) | (45) |
Deferred income taxes and investment tax credits, net | 33 | 153 | 208 |
Settlements of asset retirement obligations | (85) | (103) | (124) |
Other, net | 51 | 21 | (18) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (11) | (293) | 48 |
Inventories | (43) | 44 | (52) |
Pension and other postretirement benefit plans | 8 | (4) | (19) |
Accrued property, income and other taxes, net | 40 | (71) | (64) |
Accounts payable and other liabilities | 68 | 67 | 33 |
Net cash flows from operating activities | 2,174 | 1,617 | 1,543 |
Cash flows from investing activities: | |||
Capital expenditures | (1,869) | (1,912) | (1,836) |
Purchases of marketable securities | (499) | (213) | (281) |
Proceeds from sales of marketable securities | 492 | 207 | 269 |
Proceeds from sales of other investments | 0 | 0 | 2 |
Other investment proceeds | 2 | 1 | 9 |
Other, net | 7 | 6 | 11 |
Net cash flows from investing activities | (1,867) | (1,911) | (1,826) |
Cash flows from financing activities: | |||
Common stock dividends | (275) | 0 | 0 |
Proceeds from long-term debt | 0 | 492 | 0 |
Repayments of long-term debt | (2) | (1) | 0 |
Other, net | (1) | (3) | (2) |
Net cash flows from financing activities | (278) | 488 | (2) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 29 | 194 | (285) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 239 | 45 | 330 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 268 | $ 239 | $ 45 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows - MidAmerican Funding LLC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (167) | (126) | (165) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Pension and other postretirement benefit plans | (27) | (39) | (65) |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Purchases of marketable securities | (574) | (297) | (370) |
Proceeds from sales of marketable securities | 2,464 | 273 | 325 |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
MidAmerican Funding, LLC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 947 | 883 | 818 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 1,168 | 914 | 716 |
Amortization of utility plant to other operating expenses | 35 | 34 | 34 |
Allowance for equity funds | (51) | (39) | (45) |
Deferred income taxes and investment tax credits, net | 33 | 153 | 211 |
Settlements of asset retirement obligations | (85) | (103) | (124) |
Other, net | 52 | 21 | (17) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (11) | (293) | 48 |
Inventories | (43) | 44 | (52) |
Pension and other postretirement benefit plans | 8 | (4) | (19) |
Accrued property, income and other taxes, net | 40 | (71) | (66) |
Accounts payable and other liabilities | 68 | 66 | 32 |
Net cash flows from operating activities | 2,161 | 1,605 | 1,536 |
Cash flows from investing activities: | |||
Capital expenditures | (1,869) | (1,912) | (1,836) |
Purchases of marketable securities | (499) | (213) | (281) |
Proceeds from sales of marketable securities | 492 | 207 | 269 |
Proceeds from sales of other investments | 0 | 0 | 3 |
Other investment proceeds | 2 | 1 | 9 |
Other, net | 6 | 5 | 11 |
Net cash flows from investing activities | (1,868) | (1,912) | (1,825) |
Cash flows from financing activities: | |||
Distributions | (69) | 0 | 0 |
Proceeds from long-term debt | 0 | 492 | 0 |
Repayments of long-term debt | (2) | (1) | 0 |
Repayment of affiliated current borrowings, net | (189) | 12 | 5 |
Other, net | (2) | (2) | (1) |
Net cash flows from financing activities | (262) | 501 | 4 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 31 | 194 | (285) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 240 | 46 | 331 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 271 | $ 240 | $ 46 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (167) | (126) | (165) |
Deferred energy | (1,290) | (520) | (62) |
Amortization of deferred energy | 357 | 107 | (5) |
Other changes in regulatory assets and liabilities | (146) | (255) | (348) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Net repayments of short-term debt | (867) | (276) | (939) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
NPC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 298 | 303 | 295 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 417 | 406 | 361 |
Allowance for equity funds | (11) | (7) | (7) |
Deferred energy | (541) | (245) | (44) |
Amortization of deferred energy | 160 | 11 | (41) |
Other changes in regulatory assets and liabilities | (15) | (19) | (42) |
Deferred income taxes and investment tax credits, net | 49 | 0 | (10) |
Other, net | 8 | 0 | 2 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (178) | 6 | 45 |
Inventories | (29) | 5 | (7) |
Accrued property, income and other taxes, net | 21 | (18) | 5 |
Accounts payable and other liabilities | 176 | 63 | (90) |
Net cash flows from operating activities | 355 | 505 | 467 |
Cash flows from investing activities: | |||
Capital expenditures | (762) | (449) | (455) |
Proceeds from sale of assets | 0 | 0 | 26 |
Issuance of affiliate note receivable | (100) | 0 | 0 |
Other, net | 0 | 2 | 0 |
Net cash flows from investing activities | (862) | (447) | (429) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 694 | 0 | 718 |
Repayments of long-term debt | 0 | 0 | (575) |
Net repayments of short-term debt | (180) | 180 | 0 |
Dividends paid | 0 | (213) | (155) |
Proceeds from equity contributions | 25 | 0 | 0 |
Other, net | (17) | (16) | (15) |
Net cash flows from financing activities | 522 | (49) | (27) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 15 | 9 | 11 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 45 | 36 | 25 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 60 | $ 45 | $ 36 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (167) | (126) | (165) |
Deferred energy | (1,290) | (520) | (62) |
Amortization of deferred energy | 357 | 107 | (5) |
Other changes in regulatory assets and liabilities | (146) | (255) | (348) |
Deferred income taxes and investment tax credits, net | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Accrued property, income and other taxes, net | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Net repayments of short-term debt | (867) | (276) | (939) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
SPPC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 118 | 124 | 111 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 149 | 143 | 141 |
Allowance for equity funds | (7) | (7) | (4) |
Deferred energy | (267) | (116) | (17) |
Amortization of deferred energy | 97 | 29 | (14) |
Other changes in regulatory assets and liabilities | (1) | (39) | (33) |
Deferred income taxes and investment tax credits, net | 31 | 13 | 12 |
Other, net | 3 | (1) | (2) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (52) | (27) | (81) |
Inventories | (14) | 12 | (19) |
Accrued property, income and other taxes, net | (13) | 9 | 9 |
Accounts payable and other liabilities | 65 | 43 | 87 |
Net cash flows from operating activities | 109 | 183 | 190 |
Cash flows from investing activities: | |||
Capital expenditures | (351) | (300) | (246) |
Net cash flows from investing activities | (351) | (300) | (246) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 248 | 0 | 30 |
Repayments of long-term debt | (265) | 0 | 0 |
Net repayments of short-term debt | (159) | 114 | 45 |
Net proceeds from affiliate note payable | 70 | 0 | 0 |
Dividends paid | (70) | 0 | (20) |
Proceeds from equity contributions | 465 | 0 | 0 |
Other, net | (7) | (7) | (5) |
Net cash flows from financing activities | 282 | 107 | 50 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 40 | (10) | (6) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 16 | 26 | 32 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 56 | $ 16 | $ 26 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows - EEGH - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 3,144 | $ 6,189 | $ 7,014 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 4,286 | 3,881 | 3,455 |
Allowance for equity funds | (167) | (126) | (165) |
Equity loss, net of distributions | 319 | 380 | 248 |
Deferred income taxes | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Derivative collateral, net | 121 | 82 | 43 |
Pension and other postretirement benefit plans | (27) | (39) | (65) |
Accrued property, income and other taxes | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Equity method investments | 119 | (212) | (2,724) |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Net repayments of short-term debt | (867) | (276) | (939) |
Distributions to noncontrolling interests | (524) | (488) | (122) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
EEGH | |||
Cash flows from operating activities: | |||
Net income | 849 | 652 | 273 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Losses on other items, net | 5 | (3) | 531 |
Depreciation and amortization | 321 | 328 | 366 |
Allowance for equity funds | (6) | (7) | (13) |
Equity loss, net of distributions | (58) | 0 | 35 |
Other changes in regulatory assets and liabilities | 56 | (20) | (37) |
Deferred income taxes | 126 | 186 | (5) |
Other, net | 8 | (19) | 23 |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | (77) | 7 | 346 |
Derivative collateral, net | (1) | 10 | (140) |
Pension and other postretirement benefit plans | 0 | 0 | (88) |
Accrued property, income and other taxes | 27 | (30) | 23 |
Accounts payable and other liabilities | 99 | (12) | (40) |
Net cash flows from operating activities | 1,349 | 1,092 | 1,274 |
Cash flows from investing activities: | |||
Capital expenditures | (387) | (442) | (374) |
Loans to affiliates | (564) | (183) | 0 |
Repayment of loans by affiliates | 39 | 305 | 3,422 |
Equity method investments | 150 | (154) | (2) |
Other, net | (16) | (12) | 18 |
Net cash flows from investing activities | (778) | (486) | 3,064 |
Cash flows from financing activities: | |||
Repayments of long-term debt | 0 | (500) | (700) |
Net repayments of short-term debt | 0 | 0 | (62) |
Repayment of affiliated current borrowings, net | 0 | (9) | (251) |
Proceeds from equity contributions | 0 | 346 | 1,223 |
Distributions to parent | 0 | 0 | (4,323) |
Distributions to noncontrolling interests | (515) | (450) | (216) |
Other, net | 0 | (2) | 0 |
Net cash flows from financing activities | (515) | (615) | (4,329) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 56 | (9) | 9 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 39 | 48 | 39 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 95 | $ 39 | $ 48 |
Consolidated Statements of Ca_7
Consolidated Statements of Cash Flows - EGTS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 2,721 | $ 5,790 | $ 6,943 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 4,286 | 3,881 | 3,455 |
Allowance for equity funds | (167) | (126) | (165) |
Deferred income taxes | (467) | 646 | 1,880 |
Other, net | 59 | (57) | (23) |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | 20 | 553 | (1,318) |
Pension and other postretirement benefit plans | (27) | (39) | (65) |
Accrued property, income and other taxes | 397 | (489) | (134) |
Accounts payable and other liabilities | 751 | 163 | 501 |
Net cash flows from operating activities | 9,359 | 8,692 | 6,224 |
Cash flows from investing activities: | |||
Capital expenditures | (7,505) | (6,611) | (6,765) |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
EGTS | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 261 | 156 | (181) |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Losses on other items, net | 1 | (8) | 517 |
Depreciation and amortization | 152 | 166 | 163 |
Allowance for equity funds | (4) | (6) | (12) |
Other changes in regulatory assets and liabilities | 61 | 0 | 24 |
Deferred income taxes | 92 | 93 | (121) |
Other, net | 6 | (7) | 26 |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | (48) | 48 | 49 |
Receivables from affiliates | (4) | (46) | 4 |
Pension and other postretirement benefit plans | 0 | (17) | (85) |
Accrued property, income and other taxes | 18 | (23) | 10 |
Accounts payable and other liabilities | 25 | 0 | 5 |
Accounts payable to affiliates | (8) | 11 | (32) |
Net cash flows from operating activities | 552 | 367 | 367 |
Cash flows from investing activities: | |||
Capital expenditures | (275) | (358) | (263) |
Loans to affiliates | (8) | (14) | 0 |
Repayment of loans by affiliates | 11 | 19 | 0 |
Other, net | (14) | (4) | (2) |
Net cash flows from investing activities | (286) | (357) | (265) |
Cash flows from financing activities: | |||
Notes payable to affiliate, net | (32) | (13) | 34 |
Proceeds from equity contributions | 0 | 20 | 0 |
Dividends paid | (215) | (18) | (125) |
Other, net | 0 | 4 | 0 |
Net cash flows from financing activities | (247) | (7) | (91) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 19 | 3 | 11 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 26 | 23 | 12 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 45 | $ 26 | $ 23 |
Organization and Operations
Organization and Operations | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and Operations 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. |
PAC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and OperationsPacifiCorp, 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"). |
MEC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | 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"). |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | 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. ("Midwest Capital Group"). |
NPC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and Operations Nevada Power Company and 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 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"). |
SPPC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and OperationsSierra Pacific Power Company and 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"). |
EEGH | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and OperationsEastern Energy Gas Holdings, LLC is a holding company, and together with its subsidiaries ("Eastern Energy Gas") conducts business activities consisting of Federal Energy Regulatory Commission ("FERC")-regulated interstate natural gas transmission 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 transmission pipeline. On November 1, 2020, Berkshire Hathaway Energy Company ("BHE") completed its acquisition of substantially all of the natural gas transmission and storage business of Dominion Energy, Inc. ("DEI") (the "GT&S Transaction"). As a result of the GT&S Transaction, Eastern Energy Gas became an indirect wholly owned subsidiary of 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"). See Note 3 for more information regarding the GT&S Transaction. |
EGTS | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and OperationsEastern Gas Transmission and Storage, Inc. and its subsidiaries ("EGTS") conduct business activities consisting of Federal Energy Regulatory Commission ("FERC")-regulated interstate natural gas transmission pipeline and underground storage. EGTS' operations include transmission pipelines in Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. EGTS also operates one of the nation's largest underground natural gas storage systems located in New York, Pennsylvania and West Virginia. EGTS is a wholly-owned subsidiary of Eastern Energy Gas Holdings, LLC ("Eastern Energy Gas"). On November 1, 2020, Berkshire Hathaway Energy Company ("BHE") completed its acquisition of substantially all of the natural gas transmission and storage business of Dominion Energy, Inc. ("DEI") (the "GT&S Transaction"). As a result of the GT&S Transaction, EGTS became an indirect wholly-owned subsidiary of 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"). See Note 3 for more information regarding the GT&S Transaction. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of BHE and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. The Consolidated Statements of Operations include the revenue and expenses of any acquired entities from the date of acquisition. The Company consolidates variable interest entities ("VIE") in which it possesses both (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. Intercompany accounts and transactions have been eliminated. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; fair value of assets acquired and liabilities assumed in business combinations; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation PacifiCorp, MidAmerican Energy, Nevada Power, Sierra Pacific, BHE GT&S, Northern Natural Gas, Kern River and AltaLink (the "Regulated Businesses") prepare their financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Regulated Businesses defer the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. 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 of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 1,591 $ 1,096 Investments and restricted cash and cash equivalents 173 127 Investments and restricted cash and cash equivalents and investments 53 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,817 $ 1,244 Investments Fixed Maturity Securities The Company's management determines the appropriate classification of investments in fixed maturity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments and restricted cash and cash equivalents and investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Consolidated Balance Sheets. Available-for-sale investments are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on fixed maturity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Trading investments are carried at fair value with changes in fair value recognized in earnings. Held-to-maturity investments are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. The difference between the original cost and maturity value of a fixed maturity security is amortized to earnings using the interest method. Investment gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired with respect to securities classified as available-for-sale. If the value of a fixed maturity investment declines to below amortized cost and the decline is deemed other than temporary, the amortized cost of the investment is reduced to fair value, with a corresponding charge to earnings. Any resulting impairment loss is recognized in earnings if the Company intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If the Company does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in other comprehensive income (loss) ("OCI"). For regulated fixed maturity investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. Equity Securities Investments in equity securities are carried at fair value with changes in fair value recognized in earnings as a component of gains (losses) on marketable securities, net. All changes in fair value of equity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Equity Method Investments The Company utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying value of the investment by the Company's share of the net earnings or losses and OCI of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. Certain equity investments are presented on the Consolidated Balance Sheets net of related investment tax credits. Allowance for Credit Losses Trade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on the Company's assessment of the collectability of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, the Company primarily utilizes credit loss history. However, the Company may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 108 $ 77 $ 44 Charged to operating costs and expenses, net 43 81 56 Acquisitions — — 5 Write-offs, net (45) (50) (28) Ending balance $ 106 $ 108 $ 77 Derivatives The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of sales on the Consolidated Statements of Operations. For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For the Company's derivatives not designated as hedging contracts and for which changes in fair value are not recorded as regulatory assets and liabilities, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for sales contracts; cost of sales and operating expense for purchase contracts and electricity, natural gas and fuel swap contracts; and other, net for interest rate swap derivatives. For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. The Company discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. Inventories Inventories consist mainly of fuel, which includes coal stocks, stored gas and fuel oil, totaling $248 million and $296 million as of December 31, 2022 and 2021, respectively, and materials and supplies totaling $1,008 million and $826 million as of December 31, 2022 and 2021, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined primarily using the average cost method. The cost of stored gas is determined using either the last-in-first-out ("LIFO") method or the lower of average cost or market. With respect to inventories carried at LIFO cost, the replacement cost would be $22 million and $27 million higher as of December 31, 2022 and 2021, respectively. Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable to the Regulated Businesses. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds. Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Regulated Businesses to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by the Regulated Businesses as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC") and the Alberta Utilities Commission ("AUC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Asset Retirement Obligations The Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily related to the decommissioning of nuclear generating facilities and obligations associated with its other generating facilities and offshore natural gas pipelines. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For the Regulated Businesses, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. Impairment The Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As a majority of all property, plant and equipment is used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. Leases The Company has non-cancelable operating leases primarily for office space, office equipment, generating facilities, land and rail cars and finance leases consisting primarily of transmission assets, generating facilities and vehicles. These leases generally require the Company to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. The Company does not include options in its lease calculations unless there is a triggering event indicating the Company is reasonably certain to exercise the option. The Company's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. The Company's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. The Company's operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Company evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, the Company estimates the fair value of its reporting units. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the excess is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, the Company did not record any material goodwill impairments. The Company records goodwill adjustments for changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. Revenue Recognition Customer Revenue The Company uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. In the event one of the parties to a contract has performed before the other, the Company would recognize a contract asset or contract liability depending on the relationship between the Company's performance and the customer's payment. Energy Products and Services A majority of the Company's energy revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. The Company's energy revenue that is nonregulated primarily relates to the Company's renewable energy business. Revenue recognized is equal to what the Company has the right to invoice as it corresponds directly with the value to the customer of the Company's performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $828 million and $718 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Real Estate Services The Company's HomeServices reportable segment consists of separate brokerage, mortgage and franchise businesses. Rates charged for brokerage, mortgage and franchise real estate services are established through contractual arrangements that establish the transaction price and the allocation of the price amongst the separate performance obligations. The full-service residential real estate brokerage business has performance obligations to deliver integrated real estate services including brokerage services, title and closing services, property and casualty insurance, home warranties, relocation services, and other home-related services to customers. All performance obligations related to the full-service residential real estate brokerage business are satisfied in less than one year at the point in time when a real estate transaction is closed or when services are provided. Commission revenue from real estate brokerage transactions and related amounts due to agents are recognized when a real estate transaction is closed. Title and escrow closing fee revenue from real estate transactions and related amounts due to the title insurer are recognized at closing. Payments for amounts billed are generally due from the customer at closing. The franchise business operates a network that has performance obligations to provide the right to use certain brand names and other related service marks as well as to provide orientation programs, training and consultation services, advertising programs and other services to its franchisees. The performance obligations related to the franchise business are satisfied over time or when the services are provided. Franchise royalty fees are sales-based variable consideration and are based on a percentage of commissions earned by franchisees on real estate sales, which are recognized when the sale closes. Meetings and training revenue, referral fees, late fees, service fees and franchise termination fees are earned when services have been completed. Payments for amounts billed are generally due from the franchisee within 30 days of billing. Other Revenue Energy Products and Services Other revenue consists primarily of revenue related to power purchase agreements not considered Customer Revenue as they are recognized in accordance with ASC 815, "Derivatives and Hedging" and ASC 842, "Leases" and certain non-tariff-based revenue approved by the regulator that is not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers." Real Estate Service Mortgage and other revenue consists primarily of revenue related to the mortgage business. Mortgage fee revenue consists of amounts earned related to application and underwriting fees and fees on canceled loans. Fees associated with the origination of mortgage loans are recognized as earned. These amounts are not considered Customer Revenue as they are recognized in accordance with ASC 815, "Derivatives and Hedging," ASC 825, "Financial Instruments" and ASC 860, "Transfers and Servicing." Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Foreign Currency The accounts of foreign-based subsidiaries are measured in most instances using the local currency of the subsidiary as the functional currency. Revenue and expenses of these businesses are translated into U.S. dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating the financial statements of foreign-based operations are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in earnings. Income Taxes 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. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with income tax benefits and expense for certain property-related basis differences and other various differences that the Company's regulated businesses deems probable to be passed on to their customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. The Company has not established deferred income taxes on its undistributed foreign earnings that have been determined by management to be reinvested indefinitely. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. The Company's unrecognized tax benefits are primarily included in accrued property, income and other taxes and other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
PAC | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of PacifiCorp and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for loss contingencies and applicable insurance recoveries, including those related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") and the 2022 McKinney fire described in Note 14. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation PacifiCorp prepares its financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, PacifiCorp defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in rates occur. If it becomes no longer probable that the deferred costs or income will be included in future rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. 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, custodial and nuclear decommissioning funds. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 641 $ 179 Restricted cash included in other current assets 7 4 Restricted cash included in other assets 26 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 674 $ 186 Investments Available-for-sale securities are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. As of December 31, 2022 and 2021, PacifiCorp had no unrealized gains and losses on available-for-sale securities. Trading securities are carried at fair value with realized and unrealized gains and losses recognized in earnings. Equity Method Investments PacifiCorp utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, PacifiCorp records the investment at cost and subsequently increases or decreases the carrying value of the investment by PacifiCorp's proportionate share of the net earnings or losses and other comprehensive income (loss) ("OCI") of the investee. PacifiCorp records dividends or other equity distributions as reductions in the carrying value of the investment. Allowance for Credit Losses Trade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination, and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on PacifiCorp's assessment of the collectability of amounts owed to PacifiCorp by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, PacifiCorp primarily utilizes credit loss history. However, PacifiCorp may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 18 $ 17 $ 8 Charged to operating costs and expenses, net 18 13 18 Write-offs, net (17) (12) (9) Ending balance $ 19 $ 18 $ 17 Derivatives PacifiCorp employs a number of different derivative contracts, which may include forwards, options, swaps and other agreements, to manage price risk for electricity, natural gas and other commodities and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of fuel and energy on the Consolidated Statements of Operations. For PacifiCorp's derivative contracts, the settled amount is generally included in rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in rates are recorded as regulatory liabilities or assets. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. Inventories Inventories consist mainly of materials, supplies and fuel stocks and are stated at the lower of average cost or net realizable value. Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. PacifiCorp capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs, which include debt and equity allowance for funds used during construction ("AFUDC"). The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed on the straight-line method based on composite asset class lives prescribed by PacifiCorp's various regulatory authorities or over the assets' estimated useful lives. Depreciation studies are completed periodically to determine the appropriate composite asset class lives, net salvage and depreciation rates. These studies are reviewed and rates are ultimately approved by the various regulatory authorities. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when PacifiCorp retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represents the estimated costs of debt and equity funds necessary to finance the construction of property, plant and equipment, is capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, PacifiCorp is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Asset Retirement Obligations PacifiCorp recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. PacifiCorp's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. Impairment PacifiCorp evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. Substantially all property, plant and equipment supports PacifiCorp's regulated operations, the impacts of regulation are considered when evaluating the carrying value of regulated assets. Leases PacifiCorp has non-cancelable operating leases primarily for land, office space, office equipment, and generating facilities and finance leases consisting primarily of office buildings, natural gas pipeline facilities, and generating facilities. These leases generally require PacifiCorp to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. PacifiCorp does not include options in its lease calculations unless there is a triggering event indicating PacifiCorp is reasonably certain to exercise the option. PacifiCorp's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Right-of-use assets will be evaluated for impairment in line with Accounting Standards Codification ("ASC") 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. PacifiCorp's leases of generating facilities generally are in the form of long-term purchases of electricity, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. PacifiCorp's operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. Revenue Recognition PacifiCorp uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which PacifiCorp expects to be entitled in exchange for those goods or services. PacifiCorp records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of PacifiCorp's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission and distribution and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of revenue recognized in accordance with ASC 815, "Derivatives and Hedging." Revenue recognized is equal to what PacifiCorp has the right to invoice as it corresponds directly with the value to the customer of PacifiCorp's performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $301 million and $264 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Berkshire Hathaway includes PacifiCorp in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, PacifiCorp's provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that PacifiCorp deems probable to be passed on to its customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse or as otherwise approved by PacifiCorp's various regulatory commissions. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. PacifiCorp recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. PacifiCorp's unrecognized tax benefits are primarily included in other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. Segment Information PacifiCorp currently has one segment, which includes its regulated electric utility operations. |
MEC | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. Use of Estimates in Preparation of Financial Statements The preparation of the Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Financial Statements. A ccounting for the Effects of Certain Types of Regulation MidAmerican Energy's utility operations are subject to the regulation of the Iowa Utilities Board ("IUB"), the Illinois Commerce Commission ("ICC"), the South Dakota Public Utilities Commission, and the Federal Energy Regulatory Commission ("FERC"). MidAmerican Energy's accounting policies and the accompanying Financial Statements conform to GAAP applicable to rate-regulated enterprises and reflect the effects of the ratemaking process. MidAmerican Energy prepares its financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, MidAmerican Energy defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. 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 of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 258 $ 232 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 268 $ 239 Investments Fixed Maturity Securities MidAmerican Energy's management determines the appropriate classification of investments in fixed maturity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Balance Sheets. Available-for-sale investments are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on fixed maturity securities in a trust related to the decommissioning of the Quad Cities Generating Station Units 1 and 2 ("Quad Cities Station") are recorded as a net regulatory liability because MidAmerican Energy expects to refund to customers any decommissioning funds in excess of costs for these activities through regulated rates. Trading investments are carried at fair value with changes in fair value recognized in earnings. Held-to-maturity securities are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. The difference between the original cost and maturity value of a fixed maturity security is amortized to earnings using the interest method. Investments gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired with respect to securities classified as available-for-sale. If the value of a fixed maturity investment declines to below amortized cost and the decline is deemed other than temporary, the amortized cost of the investment is reduced to fair value, with a corresponding charge to earnings. Any resulting impairment loss is recognized in earnings if MidAmerican Energy intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If MidAmerican Energy does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in other comprehensive income (loss) ("OCI"). For regulated investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. Equity Securities All changes in fair value of equity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since MidAmerican Energy expects to refund to customers any decommissioning funds in excess of costs for these activities through regulated rates. Allowance for Credit Losses Trade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on MidAmerican Energy's assessment of the collectability of amounts owed to it by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, MidAmerican Energy primarily utilizes credit loss history. However, it may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 12 $ 12 $ 5 Charged to operating costs and expenses, net 11 10 12 Write-offs, net (9) (10) (5) Ending balance $ 14 $ 12 $ 12 Derivatives MidAmerican Energy employs a number of different derivative contracts, including forwards, futures, options, swaps and other agreements, to manage price risk for electricity, natural gas and other commodities, and interest rate risk. Derivative contracts are recorded on the 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked to market, and settled amounts are recognized as operating revenue or cost of sales on the Statements of Operations. For MidAmerican Energy's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. Inventories Inventories consist mainly of materials and supplies, totaling $175 million and $135 million as of December 31, 2022 and 2021, respectively, coal stocks, totaling $68 million and $63 million as of December 31, 2022 and 2021, respectively, and natural gas in storage, totaling $27 million and $30 million as of December 31, 2022 and 2021, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined using the average cost method. The cost of stored natural gas is determined using the last-in-first-out method. With respect to stored natural gas, the replacement cost would be $22 million and $27 million higher as of December 31, 2022 and 2021, respectively. Property, Plant and Equipment, Net General Additions to utility plant are recorded at cost. MidAmerican Energy capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC") and equity AFUDC. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds and retail energy benefits associated with certain wind-powered generation. Amounts expensed under these arrangements are included as a component of depreciation and amortization. Depreciation and amortization for MidAmerican Energy's utility operations are computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by its various regulatory authorities. Depreciation studies are completed by MidAmerican Energy to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally, when MidAmerican Energy retires or sells a component of utility plant, it charges the original cost, net of any proceeds from the disposition to accumulated depreciation. Any gain or loss on disposals of nonregulated assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of its regulated facilities, is capitalized by MidAmerican Energy as a component of utility plant, with offsetting credits to the Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, MidAmerican Energy is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Asset Retirement Obligations MidAmerican Energy recognizes AROs when it has a legal obligation to perform decommissioning or removal activities upon retirement of an asset. MidAmerican Energy's AROs are primarily related to decommissioning of the Quad Cities Station and obligations associated with its other generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to utility plant) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in utility plant, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. Impairment MidAmerican Energy evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. Additionally, when evaluating the carrying value of regulated assets, MidAmerican Energy considers the impact of regulation on recoverability. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Statements of Operations. Revenue Recognition MidAmerican Energy uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which MidAmerican Energy expects to be entitled in exchange for those goods and services. MidAmerican Energy records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Statements of Operations. A majority of MidAmerican Energy's energy revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Revenue from electric and natural gas customers is recognized as electricity or natural gas is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2022 and 2021, unbilled revenue was $102 million and $85 million, respectively, and is included in trade receivables, net on the Balance Sheets. The determination of customer billings is based on a systematic reading of customer meters and applicable rates. At the end of each month, amounts of energy provided to customers since the date of the last meter reading are estimated, and the corresponding unbilled revenue is recorded. Factors that can impact the estimate of unbilled revenue include, but are not limited to, seasonal weather patterns, total volumes supplied to the system, line losses and composition of customer classes. Unbilled revenue is reversed in the following month and billed revenue is recorded based on the subsequent meter readings. All of MidAmerican Energy's regulated retail electric and natural gas sales are subject to energy adjustment clauses. MidAmerican Energy also has costs that are recovered, at least in part, through bill riders, including demand-side management and certain transmission costs. The clauses and riders allow MidAmerican Energy to adjust the amounts charged for electric and natural gas service as the related costs change. The costs recovered in revenue through use of the adjustment clauses and bill riders are charged to expense in the same year the related revenue is recognized. At any given time, these costs may be over or under collected from customers. The total under collection included in trade receivables, net at December 31, 2022 and 2021, was $156 million and $230 million, respectively. Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Berkshire Hathaway includes MidAmerican Funding and MidAmerican Energy in its consolidated U.S. federal and Iowa state income tax returns. MidAmerican Funding's and MidAmerican Energy's provisions for income taxes have been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that MidAmerican Energy deems probable to be passed on to its customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. |
MidAmerican Funding, LLC | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies In addition to the following significant accounting policies, refer to Note 2 of MidAmerican Energy's Notes to Financial Statements for significant accounting policies of MidAmerican Funding. Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of MidAmerican Funding and its subsidiaries in which it held a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated, other than those between rate-regulated operations. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. 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 of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 261 $ 233 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 271 $ 240 Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired when MidAmerican Funding purchased MHC. MidAmerican Funding evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, MidAmerican Funding estimates the fair value of its reporting units. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the identifiable assets, including identifiable intangible assets, and liabilities of the reporting unit are estimated at fair value as of the current testing date. The excess of the estimated fair value of the reporting unit over the current estimated fair value of net assets establishes the implied value of goodwill. The excess of the recorded goodwill over the implied goodwill value is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, MidAmerican Funding did not record any goodwill impairments. |
NPC | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Nevada Power and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation Nevada Power prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Nevada Power defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. Cash and Cash Equivalents and Restricted Cash 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 PUCN for a certain renewable energy contract. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 43 $ 33 Restricted cash and cash equivalents included in other current assets 17 12 Total cash and cash equivalents and restricted cash and cash equivalents $ 60 $ 45 Allowance for Credit Losses Trade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Nevada Power's assessment of the collectability of amounts owed to Nevada Power by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Nevada Power primarily utilizes credit loss history. However, Nevada Power may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. Nevada Power also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. The changes in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 18 $ 19 $ 15 Charged to operating costs and expenses, net 14 13 13 Write-offs, net (12) (14) (9) Ending balance $ 20 $ 18 $ 19 Derivatives Nevada Power employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity on the Consolidated Statements of Operations. For Nevada Power's derivative contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. Inventories Inventories consist mainly of materials and supplies totaling $93 million and $64 million as of December 31, 2022 and 2021. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Nevada Power capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the Public Utilities Commission of Nevada ("PUCN"). Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by Nevada Power's various regulatory authorities. Depreciation studies are completed by Nevada Power to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as a non-current regulatory liability on the Consolidated Balance Sheets. As actual removal costs are incurred, the associated liability is reduced. Generally when Nevada Power retires or sells a component of regulated property, plant and equipment depreciated using the composite method, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings with the exception of material gains or losses on regulated property, plant and equipment depreciated on a straight-line basis, which is then recorded to a regulatory asset or liability. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, are capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. The rate applied to construction costs is the lower of the PUCN allowed rate of return and rates computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, Nevada Power is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Nevada Power's AFUDC rate used during 2022 and 2021 was 6.55% and 7.14%, respectively. Asset Retirement Obligations Nevada Power recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Nevada Power's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. The costs are not recovered in rates until the work has been completed. Impairment Nevada Power evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. Leases Nevada Power has non-cancelable operating leases primarily for land, generating facilities, vehicles and office equipment and finance leases consisting primarily of transmission assets, generating facilities, office space and vehicles. These leases generally require Nevada Power to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. Nevada Power does not include options in its lease calculations unless there is a triggering event indicating Nevada Power is reasonably certain to exercise the option. Nevada Power's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") Topic 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. Nevada Power's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. Nevada Power's operating and right-of-use assets are recorded in other assets and the operating lease liabilities are recorded in current and long-term other liabilities accordingly. Revenue Recognition Nevada Power uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Nevada Power expects to be entitled in exchange for those goods or services. Nevada Power records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of Nevada Power's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission and distribution and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of amounts not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers" and revenue recognized in accordance with ASC 842, "Leases." Revenue recognized is equal to what Nevada Power has the right to invoice as it corresponds directly with the value to the customer of Nevada Power's performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $143 million and $107 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. In addition, Nevada Power has recognized contract assets of $4 million and $6 million as of December 31, 2022 and 2021, respectively, due to Nevada Power's performance on certain contracts. Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Berkshire Hathaway includes Nevada Power in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Nevada Power's provision for income taxes has been computed on a separate return basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property‑related basis differences and other various differences that Nevada Power deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties. Nevada Power recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Nevada Power's unrecognized tax benefits are primarily included in other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. Segment Information Nevada Power currently has one segment, which includes its regulated electric utility operations. |
SPPC | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Sierra Pacific and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation Sierra Pacific prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Sierra Pacific defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. Cash and Cash Equivalents and Restricted Cash 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 PUCN for a certain renewable energy contract. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 49 $ 10 Restricted cash and cash equivalents included in other current assets 7 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 56 $ 16 Allowance for Credit Losses Trade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Sierra Pacific's assessment of the collectability of amounts owed to Sierra Pacific by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Sierra Pacific primarily utilizes credit loss history. However, Sierra Pacific may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. Sierra Pacific also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. The changes in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 1 $ 2 $ 2 Charged to operating costs and expenses, net 2 2 2 Write-offs, net (1) (3) (2) Ending balance $ 2 $ 1 $ 2 Derivatives Sierra Pacific employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity or natural gas purchased for resale on the Consolidated Statements of Operations. For Sierra Pacific's derivative contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. Inventories Inventories consist mainly of materials and supplies totaling $69 million and $62 million as of December 31, 2022 and 2021, respectively, and fuel, which includes coal stock, stored natural gas and fuel oil, totaling $10 million and $3 million as of December 31, 2022 and 2021, respectively. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. Fuel costs are recovered from retail customers through the base tariff energy rates and deferred energy accounting adjustment charges approved by the Public Utilities Commission of Nevada ("PUCN"). Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Sierra Pacific capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the PUCN. Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by Sierra Pacific's various regulatory authorities. Depreciation studies are completed by Sierra Pacific to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as a non-current regulatory liability on the Consolidated Balance Sheets. As actual removal costs are incurred, the associated liability is reduced. Generally when Sierra Pacific retires or sells a component of regulated property, plant and equipment depreciated using the composite method, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings with the exception of material gains or losses on regulated property, plant and equipment depreciated on a straight-line basis, which is then recorded to a regulatory asset or liability. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, are capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. The rate applied to construction costs is the lower of the PUCN allowed rate of return and rates computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, Sierra Pacific is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Sierra Pacific's AFUDC rate used during 2022 and 2021 was 5.52% and 6.75%, respectively, for electric, 5.09% and 5.75%, respectively, for natural gas and 5.23% and 6.65%, respectively, for common facilities. Asset Retirement Obligations Sierra Pacific recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Sierra Pacific's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. The costs are not recovered in rates until the work has been completed. Impairment of Long-Lived Assets Sierra Pacific evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. Leases Sierra Pacific has non-cancelable operating leases primarily for transmission and delivery assets, generating facilities, vehicles and office equipment and finance leases consisting primarily of transmission assets, generating facilities and vehicles. These leases generally require Sierra Pacific to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. Sierra Pacific does not include options in its lease calculations unless there is a triggering event indicating Sierra Pacific is reasonably certain to exercise the option. Sierra Pacific's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") Topic 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. Sierra Pacific's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. Sierra Pacific's operating and finance right-of-use assets are recorded in other assets and the operating and current finance lease liabilities are recorded in current and long-term other liabilities accordingly. Revenue Recognition Sierra Pacific uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Sierra Pacific expects to be entitled in exchange for those goods or services. Sierra Pacific records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of Sierra Pacific's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of revenue recognized in accordance with ASC 842, "Leases" and amounts not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers." Revenue recognized is equal to what Sierra Pacific has the right to invoice as it corresponds directly with the value to the customer of Sierra Pacific's performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $94 million and $78 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Berkshire Hathaway includes Sierra Pacific in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Sierra Pacific's provision for income taxes has been computed on a separate return basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that Sierra Pacific deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties. Sierra Pacific recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Sierra Pacific's unrecognized tax benefits are primarily included in other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
EEGH | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Eastern Energy Gas and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Eastern Energy Gas consolidates variable interest entities ("VIE") in which it possesses both (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. Intercompany accounts and transactions have been eliminated. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation Eastern Energy Gas prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Eastern Energy Gas defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. 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 of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 65 $ 22 Restricted cash and cash equivalents 30 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 95 $ 39 Investments Eastern Energy Gas utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, Eastern Energy Gas records the investment at cost and subsequently increases or decreases the carrying value of the investment by Eastern Energy Gas' share of the net earnings or losses and other comprehensive income ("OCI") of the investee. Eastern Energy Gas records dividends or other equity distributions as reductions in the carrying value of the investment. Allowance for Credit Losses Trade receivables are primarily short-term in nature and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Eastern Energy Gas' assessment of the collectability of amounts owed to Eastern Energy Gas by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Eastern Energy Gas primarily evaluates the financial condition of the individual customer and the nature of any disputed amount. The changes in the balance of the allowance for credit losses, which is included in trades receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 6 $ 5 $ 2 Charged to operating costs and expenses, net — 1 4 Write-offs, net (3) — (1) Ending balance $ 3 $ 6 $ 5 Derivatives Eastern Energy Gas employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets or other current liabilities on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of gas on the Consolidated Statements of Operations. For Eastern Energy Gas' derivatives not designated as hedging contracts, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for derivatives related to natural gas sales contracts. For Eastern Energy Gas' derivatives designated as hedging contracts, Eastern Energy Gas formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. Eastern Energy Gas formally documents hedging activity by transaction type and risk management strategy. For derivative instruments that are accounted for as cash flow hedges or fair value hedges, the cash flows from the derivatives and from the related hedged items are classified in operating cash flows. Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. Eastern Energy Gas discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. Inventories Inventories consist mainly of materials and supplies and are determined using the average cost method. Natural Gas Imbalances Natural gas imbalances occur when the physical amount of natural gas delivered from, or received by, a pipeline system or storage facility differs from the contractual amount of natural gas delivered or received. Eastern Energy Gas values these imbalances due to, or from, shippers and operators at an appropriate index price at period end, subject to the terms of its tariff for regulated entities. Imbalances are primarily settled in-kind. Imbalances due to Eastern Energy Gas from other parties are reported in natural gas imbalances and imbalances that Eastern Energy Gas owes to other parties are reported in other current liabilities on the Consolidated Balance Sheets. Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Eastern Energy Gas capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed by applying the composite or straight-line method based on estimated useful lives. Depreciation studies are completed by Eastern Energy Gas to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the FERC. See Note 6 for the prospective impacts related to changes in depreciation rates. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when Eastern Energy Gas retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by Eastern Energy Gas as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, Eastern Energy Gas is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Asset Retirement Obligations Eastern Energy Gas recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Eastern Energy Gas' AROs are primarily related to the obligations associated with its natural gas pipeline and storage well assets. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For Eastern Energy Gas, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. Impairment Eastern Energy Gas evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. The impacts of regulation are considered when evaluating the carrying value of regulated assets. See Note 6 for more information. Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Eastern Energy Gas evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, Eastern Energy Gas estimates the fair value of its reporting unit. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the excess is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, Eastern Energy Gas did not record any goodwill impairments. Eastern Energy Gas records goodwill adjustments for changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. Revenue Recognition Eastern Energy Gas uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Eastern Energy Gas expects to be entitled in exchange for those goods or services. Eastern Energy Gas records sales and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. A majority of Eastern Energy Gas' Customer Revenue is derived from tariff-based sales arrangements approved by the FERC. These tariff-based revenues are mainly comprised of natural gas transmission and storage services and have performance obligations which are satisfied over time as services are provided. Eastern Energy Gas' revenue that is nonregulated primarily relates to LNG terminalling services. Revenue recognized is equal to the value to the customer of Eastern Energy Gas' performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $18 million and $36 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. See Note 6 for discussion surrounding the Eastern Gas Transmission and Storage, Inc. ("EGTS") provision for rate refund. In the event one of the parties to a contract has performed before the other, Eastern Energy Gas would recognize a contract asset or contract liability depending on the relationship between Eastern Energy Gas' performance and the customer's payment. Eastern Energy Gas has recognized contract assets of $10 million and $19 million as of December 31, 2022 and 2021, respectively, and $80 million and $18 million of contract liabilities as of December 31, 2022 and 2021, respectively, due to Eastern Energy Gas' performance on certain contracts. Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Prior to the GT&S Transaction, DEI included Eastern Energy Gas in its consolidated U.S. federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes Eastern Energy Gas in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that Eastern Energy Gas' regulated businesses deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Eastern Energy Gas recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense (benefit) on the Consolidated Statements of Operations. Segment Information Eastern Energy Gas currently has one segment, which includes its natural gas pipeline, storage and LNG operations. |
EGTS | |
Allowance for Doubtful Accounts [Line Items] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of EGTS and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. Accounting for the Effects of Certain Types of Regulation EGTS prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, EGTS defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of customer deposits as allowed under the FERC gas tariff. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 16 $ 11 Restricted cash and cash equivalents 29 15 Total cash and cash equivalents and restricted cash and cash equivalents $ 45 $ 26 Allowance for Credit Losses Trade receivables are primarily short-term in nature and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on EGTS' assessment of the collectability of amounts owed to EGTS by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, EGTS primarily evaluates the financial condition of the individual customer and the nature of any disputed amount. The changes in the balance of the allowance for credit losses, which is included in trades receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 3 $ 2 $ 1 Charged to operating costs and expenses, net — 1 1 Write-offs, net (3) — — Ending balance $ — $ 3 $ 2 Derivatives EGTS employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risks. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets or other current liabilities on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of gas on the Consolidated Statements of Operations. For EGTS' derivatives not designated as hedging contracts, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for derivatives related to natural gas sales contracts. For EGTS' derivatives designated as hedging contracts, EGTS formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. EGTS formally documents hedging activity by transaction type and risk management strategy. For derivative instruments that are accounted for as cash flow hedges or fair value hedges, the cash flows from the derivatives and from the related hedged items are classified in operating cash flows. Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. EGTS discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. Inventories Inventories consist mainly of materials and supplies and are determined using the average cost method. Natural Gas Imbalances Natural gas imbalances occur when the physical amount of natural gas delivered from, or received by, a pipeline system or storage facility differs from the contractual amount of natural gas delivered or received. EGTS values these imbalances due to, or from, shippers and operators at an appropriate index price at period end, subject to the terms of its tariff for regulated entities. Imbalances are primarily settled in-kind. Imbalances due to EGTS from other parties are reported in natural gas imbalances and imbalances that EGTS owes to other parties are reported in other current liabilities on the Consolidated Balance Sheets. Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. EGTS capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt and equity allowance for funds used during construction ("AFUDC"), as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed by applying the composite or straight-line method based on estimated useful lives. Depreciation studies are completed by EGTS to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the FERC. See Note 7 for the prospective impacts related to changes in depreciation rates. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when EGTS retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by EGTS as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, EGTS is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. Asset Retirement Obligations EGTS recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. EGTS' AROs are primarily related to the obligations associated with its natural gas pipeline and storage well assets. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For EGTS, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. Impairment EGTS evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment supports EGTS' regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. See Note 7 for more information. Leases EGTS has non-cancelable operating leases primarily for office space, office equipment and land and finance leases consisting primarily of natural gas pipeline facilities and vehicles. These leases generally require EGTS to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. EGTS does not include options in its lease calculations unless there is a triggering event indicating EGTS is reasonably certain to exercise the option. EGTS' accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. EGTS' operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. Revenue Recognition EGTS uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which EGTS expects to be entitled in exchange for those goods or services. EGTS records sales and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. A majority of EGTS' Customer Revenue is derived from tariff-based sales arrangements approved by the FERC. These tariff-based revenues are mainly comprised of natural gas transmission and storage services and have performance obligations which are satisfied over time as services are provided. Revenue recognized is equal to what EGTS has the right to invoice as it corresponds directly with the value to the customer of EGTS' performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $9 million and $28 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. See Note 7 for discussion surrounding EGTS' provision for rate refund. In the event one of the parties to a contract has performed before the other, EGTS would recognize a contract asset or contract liability depending on the relationship between EGTS' performance and the customer's payment. EGTS has recognized contract assets of $10 million and $19 million as of December 31, 2022 and 2021, respectively, and $9 million and $3 million of contract liabilities as of December 31, 2022 and 2021, respectively, due to EGTS' performance on certain contracts. Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. Income Taxes Prior to the GT&S Transaction, DEI included EGTS in its consolidated U.S. federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes EGTS in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, EGTS' provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that EGTS' regulated businesses deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. EGTS recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense (benefit) on the Consolidated Statements of Operations. Segment Information EGTS currently has one segment, which includes its natural gas pipeline and storage operations. |
Business Acquisitions
Business Acquisitions | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Acquisitions | Business Acquisitions BHE GT&S Acquisition Transaction Description On November 1, 2020, BHE completed its acquisition of substantially all of the natural gas transmission and storage business of Dominion Energy, Inc. ("DEI") and Dominion Energy Questar Corporation ("Dominion Questar"), exclusive of Dominion Energy Questar Pipeline, LLC and related entities (the "Questar Pipeline Group") (the "GT&S Transaction"). Under the terms of the Purchase and Sale Agreement, dated July 3, 2020 (the "GT&S Purchase Agreement"), BHE paid approximately $2.5 billion in cash, after post-closing adjustments (the "GT&S Cash Consideration") for 100% of the equity interests of Eastern Gas Transmission and Storage, Inc. ("EGTS") and Carolina Gas Transmission, LLC; 50% of the equity interests of Iroquois Gas Transmission System L.P. ("Iroquois"); and a 25% economic interest in Cove Point LNG, LP ("Cove Point"), consisting of 100% of the general partnership interest and 25% of the total limited partnership interests. BHE became the operator of Cove Point after the GT&S Transaction. On October 5, 2020, DEI and Dominion Questar, as permitted under the terms of the GT&S Purchase Agreement, delivered notice to BHE of their election to terminate the GT&S Transaction with respect to the Questar Pipeline Group and, in connection with the execution of the Q-Pipe Purchase Agreement referenced below, to waive the related termination fee under the GT&S Purchase Agreement. Also on October 5, 2020, BHE entered into a second Purchase and Sale Agreement (the "Q-Pipe Purchase Agreement") with Dominion Questar providing for BHE's purchase of the Questar Pipeline Group from Dominion Questar (the "Q-Pipe Transaction") for a cash purchase price of approximately $1.3 billion (the "Q-Pipe Cash Consideration"), subject to adjustment for cash and indebtedness as of the closing. Under the Q-Pipe Purchase Agreement, BHE delivered the Q-Pipe Cash Consideration of approximately $1.3 billion to Dominion Questar on November 2, 2020. Pursuant to the Q-Pipe Purchase Agreement, Dominion Questar agreed that, if the Q-Pipe Transaction did not close, it would repay all or (depending upon the repayment date) substantially all of the Q-Pipe Cash Consideration (the "Purchase Price Repayment Amount") to BHE on or prior to December 31, 2021. On July 9, 2021, Dominion Questar and DEI delivered a written notice to BHE stating that BHE and Dominion Questar have mutually elected to terminate the Q-Pipe Purchase Agreement and on July 14, 2021, BHE received the Purchase Price Repayment Amount of approximately $1.3 billion in cash, which was included in proceeds from other investments on the Consolidated Statements of Cash Flows for the year ended December 31, 2021. Included in BHE's Consolidated Statement of Operations within the BHE Pipeline Group reportable segment for the years ended December 31, 2022, 2021 and 2020, is operating revenue of $2,402 million, $2,159 million and $331 million, respectively, and net income attributable to BHE shareholders of $549 million, $316 million and $73 million, respectively, as a result of including BHE GT&S from November 1, 2020. Additionally, BHE incurred $9 million of direct transaction costs associated with the GT&S Transaction that are included in operating expense on the Consolidated Statement of Operations for the year ended December 31, 2020. Pro Forma Financial Information The following unaudited pro forma financial information reflects the consolidated results of operations of BHE and the amortization of the purchase price adjustments assuming the acquisition had taken place on January 1, 2019, excluding non-recurring transaction costs incurred by BHE during 2020 (in millions): 2020 Operating revenue $ 22,581 Net income attributable to BHE shareholders $ 6,800 Other In 2022, the Company completed various acquisitions totaling $314 million, net of cash acquired. The purchase price for each acquisition was allocated to the assets acquired and liabilities assumed, which related to residential real estate brokerage businesses, 300 MWs of long-term transmission rights and 399 MWs of wind-powered generating facilities. As a result of the various acquisitions, the Company acquired assets of $363 million, assumed liabilities of $65 million and recognized goodwill of $16 million. In 2021, the Company completed various acquisitions totaling $122 million, net of cash acquired. The purchase price for each acquisition was allocated to the assets acquired and liabilities assumed, which related to residential real estate brokerage businesses. As a result of the various acquisitions, the Company acquired assets of $54 million, assumed liabilities of $61 million and recognized goodwill of $129 million. |
Business Acquisitions and Dispo
Business Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2022 | |
EEGH | |
Business Acquisition [Line Items] | |
Business Acquisitions and Dispositions | Business Acquisitions and Dispositions Acquisition of Eastern Energy Gas by BHE In July 2020, DEI entered into an agreement to sell substantially all of its natural gas transmission and storage operations, including Eastern Energy Gas and a 25% limited partnership interest in Cove Point, to BHE. Approval of the transaction under the Hart-Scott-Rodino Act was not obtained within 75 days and DEI and BHE mutually agreed to a dual-phase closing consisting of two separate disposal groups identified as the GT&S Transaction and the proposed sale of Dominion Energy Questar Pipeline, LLC and related entities ("the Questar Pipeline Group") by DEI to BHE pursuant to a purchase and sale agreement entered into on October 5, 2020 ("Q-Pipe Transaction"). In July 2021, Dominion Energy Questar Corporation ("Dominion Questar") and DEI delivered a written notice to BHE stating that BHE and Dominion Questar mutually elected to terminate the Q-Pipe Transaction. Prior to the completion of the GT&S Transaction, Eastern Energy Gas finalized a restructuring whereby Eastern Energy Gas distributed the Questar Pipeline Group and a 50% noncontrolling interest in Cove Point to DEI. This restructuring was accounted for by Eastern Energy Gas as a reorganization of entities under common control and the disposition was reflected as an equity transaction. The disposition was not reported as a discontinued operation as the disposal did not represent a strategic shift in the way management had intended to run the business. In November 2020, the GT&S Transaction was completed and Eastern Energy Gas, with the exception of the Questar Pipeline Group as discussed above, became an indirect wholly-owned subsidiary of BHE. DEI retained a 50% noncontrolling interest in Cove Point as well as the assets and obligations of the pension and other postretirement employee benefit plans associated with the operations sold and relating to services provided before closing. The GT&S Transaction was treated as a deemed asset sale for federal and state income tax purposes and all deferred taxes at Eastern Energy Gas were reset to reflect financial and tax basis differences as of November 1, 2020. See Notes 9 and 16 for more information on the GT&S Transaction. Eastern Energy Gas recorded a distribution of net assets of $699 million, including goodwill of $185 million and $41 million of cash, for the distribution of the Questar Pipeline Group to DEI and recorded an approximately $2.8 billion increase in noncontrolling interests for DEI's retained 50% noncontrolling interest in Cove Point. Additionally, in accordance with the terms of the GT&S Transaction, DEI retained certain assets and liabilities associated with Eastern Energy Gas and settled all affiliated balances. As a result, Eastern Energy Gas recorded a contribution for the reset of deferred taxes of $1.3 billion, net of distributions of $895 million related to the pension and other postretirement employee benefit plans retained by DEI and $107 million related to the settlement of affiliated balances. |
EGTS | |
Business Acquisition [Line Items] | |
Business Acquisitions and Dispositions | Business Acquisitions and Dispositions Acquisition of EGTS by BHE In July 2020, DEI entered into an agreement to sell substantially all of its natural gas transmission and storage operations, including EGTS, to BHE. In November 2020, the GT&S Transaction was completed and EGTS became an indirect wholly-owned subsidiary of BHE. DEI retained the assets and obligations of the pension and other postretirement employee benefit plans associated with the operations sold and relating to services provided before closing. The GT&S Transaction was treated as a deemed asset sale for federal and state income tax purposes and all deferred taxes at EGTS were reset to reflect financial and tax basis differences as of November 1, 2020. See Notes 10 and 11 for more information on the GT&S Transaction. |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 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 as of December 31 (in millions): Depreciable Life 2022 2021 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 92,759 $ 90,223 Interstate natural gas pipeline assets 3-80 years 18,328 17,423 111,087 107,646 Accumulated depreciation and amortization (34,599) (32,680) Regulated assets, net 76,488 74,966 Nonregulated assets: Independent power plants 2-50 years 8,545 7,665 Cove Point LNG facility 40 years 3,412 3,364 Other assets 2-30 years 2,693 2,666 14,650 13,695 Accumulated depreciation and amortization (3,452) (3,041) Nonregulated assets, net 11,198 10,654 87,686 85,620 Construction work-in-progress 5,357 4,196 Property, plant and equipment, net $ 93,043 $ 89,816 Construction work-in-progress includes $4.9 billion and $3.8 billion as of December 31, 2022 and 2021, respectively, 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 as of December 31 (in millions): Depreciable Life 2022 2021 Utility Plant: Generation 15 - 59 years $ 13,726 $ 13,679 Transmission 60 - 90 years 8,051 7,894 Distribution 20 - 75 years 8,477 8,044 Intangible plant (1) and other 5 - 75 years 2,755 2,645 Utility plant in-service 33,009 32,262 Accumulated depreciation and amortization (11,093) (10,507) Utility plant in-service, net 21,916 21,755 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,934 21,773 Construction work-in-progress 2,496 1,141 Property, plant and equipment, net $ 24,430 $ 22,914 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. The average depreciation and amortization rate applied to depreciable property, plant and equipment was 3.5%, 3.5% and 4.1% for the years ended December 31, 2022, 2021 and 2020, respectively. Unallocated Acquisition Adjustments PacifiCorp has unallocated acquisition adjustments that represent the excess of costs of the acquired interests in property, plant and equipment purchased from the entity that first dedicated the assets to utility service over their net book value in those assets. These unallocated acquisition adjustments included in other property, plant and equipment had an original cost of $156 million as of December 31, 2022 and 2021, and accumulated depreciation of $144 million and $143 million as of December 31, 2022 and 2021, respectively. |
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 as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 20-62 years $ 18,582 $ 17,397 Transmission 55-80 years 2,662 2,474 Electric distribution 15-80 years 4,931 4,661 Natural gas distribution 30-75 years 2,144 2,039 Utility plant in-service 28,319 26,571 Accumulated depreciation and amortization (8,024) (7,376) Utility plant in-service, net 20,295 19,195 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,301 19,201 Construction work-in-progress 790 1,100 Property, plant and equipment, net $ 21,091 $ 20,301 Nonregulated property, net consists primarily of land not recoverable for regulated utility purposes. The average depreciation and amortization rates applied to depreciable utility plant for the years ended December 31 were as follows: 2022 2021 2020 Electric 3.2 % 3.3 % 3.2 % Natural gas 2.9 % 2.8 % 2.8 % Under a revenue sharing arrangement in Iowa, MidAmerican Energy accrues throughout the year a regulatory liability based on the extent to which its anticipated annual equity return exceeds specified thresholds, with an equal amount recorded in depreciation and amortization expense. For the years ended December 31, 2022, 2021 and 2020, $296 million, $115 million, and $— million, respectively, is reflected in depreciation and amortization expense on the Statements of Operations. |
MidAmerican Funding, LLC | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Refer to Note 3 of MidAmerican Energy's Notes to Financial Statements. In addition to MidAmerican Energy's property, plant and equipment, net, MidAmerican Funding had nonregulated property gross of $1 million and $1 million as of December 31, 2022 and 2021, respectively. |
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 as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 30 - 55 years $ 3,977 $ 3,793 Transmission 45 - 70 years 1,562 1,503 Distribution 20 - 65 years 4,134 3,920 General and intangible plant 5 - 65 years 871 836 Utility plant 10,544 10,052 Accumulated depreciation and amortization (3,624) (3,406) Utility plant, net 6,920 6,646 Nonregulated, net of accumulated depreciation and amortization 45 years 1 1 6,921 6,647 Construction work-in-progress 485 244 Property, plant and equipment, net $ 7,406 $ 6,891 Almost all of Nevada Power's plant is subject to the ratemaking jurisdiction of the PUCN and the FERC. Nevada Power's depreciation and amortization expense, as authorized by the PUCN, stated as a percentage of the depreciable property balances as of December 31, 2022, 2021 and 2020 was 3.1%, 3.2%, and 3.1%, respectively. Nevada Power is required to file a utility plant depreciation study every six years as a companion filing with the triennial general rate review filings. The most recent study was filed in 2017. Construction work-in-progress is primarily related to the construction of regulated assets. |
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 as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Electric generation 25 - 60 years $ 1,298 $ 1,163 Electric transmission 50 - 100 years 993 940 Electric distribution 20 - 100 years 1,983 1,846 Electric general and intangible plant 5 - 70 years 219 204 Natural gas distribution 35 - 70 years 455 438 Natural gas general and intangible plant 5 - 70 years 15 14 Common general 5 - 70 years 380 370 Utility plant 5,343 4,975 Accumulated depreciation and amortization (1,992) (1,854) Utility plant, net 3,351 3,121 Construction work-in-progress 236 219 Property, plant and equipment, net $ 3,587 $ 3,340 All of Sierra Pacific's plant is subject to the ratemaking jurisdiction of the PUCN and the FERC. Sierra Pacific's depreciation and amortization expense, as authorized by the PUCN, stated as a percentage of the depreciable property balances as of December 31, 2022, 2021 and 2020 was 3.0%, 3.1% and 3.2%, respectively. Sierra Pacific is required to file a utility plant depreciation study every six years as a companion filing with the triennial general rate review filings. The most recent study was filed in 2022. Construction work-in-progress is primarily related to the construction of regulated assets. |
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 as of December 31 (in millions): Depreciable Life 2022 2021 Utility Plant: Interstate natural gas pipeline and storage assets 21 - 52 years $ 8,922 $ 8,675 Intangible plant 5 - 18 years 113 110 Utility plant in-service 9,035 8,785 Accumulated depreciation and amortization (3,039) (2,901) Utility plant in-service, net 5,996 5,884 Nonutility Plant: LNG facility 40 years 4,522 4,475 Intangible plant 14 years 25 25 Nonutility plant 4,547 4,500 Accumulated depreciation and amortization (542) (423) Nonutility plant, net 4,005 4,077 10,001 9,961 Construction work- in-progress 201 239 Property, plant and equipment, net $ 10,202 $ 10,200 Construction work-in-progress includes $181 million and $209 million as of December 31, 2022 and 2021, respectively, related to the construction of utility plant. |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Interstate natural gas pipeline and storage assets 28 - 50 years $ 6,724 $ 6,517 Intangible plant 12 - 20 years 79 74 Plant in-service 6,803 6,591 Accumulated depreciation and amortization (2,440) (2,339) 4,363 4,252 Construction work-in-progress 141 188 Property, plant and equipment, net $ 4,504 $ 4,440 |
Jointly Owned Utility Facilitie
Jointly Owned Utility Facilities | 12 Months Ended |
Dec. 31, 2022 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements, the Domestic Regulated Businesses, as tenants in common, have undivided interests in jointly owned generation, transmission, distribution and pipeline common facilities. The Company accounts for its proportionate share of each facility and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include the Company's share of the expenses of these facilities. The amounts shown in the table below represent the Company's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Company Facility In Depreciation and Work-in- Share Service Amortization Progress PacifiCorp: Jim Bridger Nos. 1-4 67 % $ 1,529 $ 914 $ 39 Hunter No. 1 94 517 227 3 Hunter No. 2 60 305 148 6 Wyodak 80 491 273 1 Colstrip Nos. 3 and 4 10 262 178 — Hermiston 50 189 106 — Craig Nos. 1 and 2 19 372 331 — Hayden No. 1 25 77 52 — Hayden No. 2 13 44 31 — Transmission and distribution facilities Various 916 274 129 Total PacifiCorp 4,702 2,534 178 MidAmerican Energy: Louisa No. 1 88 % 976 511 4 Quad Cities Nos. 1 and 2 (1) 25 730 482 11 Walter Scott, Jr. No. 3 79 964 624 13 Walter Scott, Jr. No. 4 (2) 60 171 127 7 George Neal No. 4 41 321 184 6 Ottumwa No. 1 (2) 52 569 280 19 George Neal No. 3 72 535 312 20 Transmission facilities Various 267 101 2 Total MidAmerican Energy 4,533 2,621 82 NV Energy: Navajo 11 % 1 4 — Valmy 50 399 327 2 On Line Transmission Line 25 161 34 1 Transmission facilities Various 60 29 1 Total NV Energy 621 394 4 BHE Pipeline Group: Ellisburg Pool 39 % 32 11 — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Common Facilities Various 275 176 — Total BHE Pipeline Group 731 330 8 Total $ 10,587 $ 5,879 $ 272 (1) Includes amounts related to nuclear fuel. |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility FacilitiesUnder joint facility ownership agreements with other utilities, PacifiCorp, as a tenant in common, has undivided interests in jointly owned generation, transmission and distribution facilities. PacifiCorp accounts for its proportionate share of each facility, and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include PacifiCorp's share of the expenses of these facilities. The amounts shown in the table below represent PacifiCorp's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Facility Accumulated Construction PacifiCorp in Depreciation and Work-in- Share Service Amortization Progress Jim Bridger Nos. 1 - 4 67 % $ 1,529 $ 914 $ 39 Hunter No. 1 94 517 227 3 Hunter No. 2 60 305 148 6 Wyodak 80 491 273 1 Colstrip Nos. 3 and 4 10 262 178 — Hermiston 50 189 106 — Craig Nos. 1 and 2 19 372 331 — Hayden No. 1 25 77 52 — Hayden No. 2 13 44 31 — Transmission and distribution facilities Various 916 274 129 Total $ 4,702 $ 2,534 $ 178 |
MEC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements with other utilities, MidAmerican Energy, as a tenant in common, has undivided interests in jointly owned generation and transmission facilities. MidAmerican Energy accounts for its proportionate share of each facility, and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating expenses on the Statements of Operations include MidAmerican Energy's share of the expenses of these facilities. The amounts shown in the table below represent MidAmerican Energy's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Company Plant in Depreciation and Work-in- Share Service Amortization Progress Louisa Unit No. 1 88 % $ 976 $ 511 $ 4 Quad Cities Unit Nos. 1 & 2 (1) 25 730 482 11 Walter Scott, Jr. Unit No. 3 79 964 624 13 Walter Scott, Jr. Unit No. 4 (2) 60 171 127 7 George Neal Unit No. 4 41 321 184 6 Ottumwa Unit No. 1 (2) 52 569 280 19 George Neal Unit No. 3 72 535 312 20 Transmission facilities Various 267 101 2 Total $ 4,533 $ 2,621 $ 82 (1) Includes amounts related to nuclear fuel. (2) Plant in-service and accumulated depreciation and amortization amounts are net of credits applied under Iowa regulatory arrangements totaling $733 million and $150 million, respectively. |
MidAmerican Funding, LLC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility FacilitiesRefer to Note 4 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements, Nevada Power, as tenants in common, has undivided interests in jointly owned generation and transmission facilities. Nevada Power accounts for its proportionate share of each facility and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include Nevada Power's share of the expenses of these facilities. The amounts shown in the table below represent Nevada Power's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Nevada Construction Power's Utility Accumulated Work-in- Share Plant Depreciation Progress Navajo Generating Station (1) 11 % $ 1 $ 4 $ — ON Line Transmission Line 19 121 26 1 Other transmission facilities Various 56 27 — Total $ 178 $ 57 $ 1 (1) Represents Nevada Power's proportionate share of capitalized asset retirement costs to retire the Navajo Generating Station, which was shut down in November 2019. |
SPPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements, Sierra Pacific, as tenants in common, has undivided interests in jointly owned generation and transmission facilities. Sierra Pacific accounts for its proportionate share of each facility and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include Sierra Pacific's share of the expenses of these facilities. The amounts shown in the table below represent Sierra Pacific's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Sierra Construction Pacific's Utility Accumulated Work-in- Share Plant Depreciation Progress Valmy Generating Station 50 % $ 399 $ 327 $ 2 ON Line Transmission Line 6 40 8 — Valmy Transmission 50 4 2 1 Total $ 443 $ 337 $ 3 |
EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements with other utilities, Eastern Energy Gas, as a tenant in common, has undivided interests in jointly owned transmission and storage facilities. Eastern Energy Gas accounts for its proportionate share of each facility, and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners primarily based on their percentage of ownership. Operating costs and expenses on the Consolidated Statements of Operations include Eastern Energy Gas' share of the expenses of these facilities. The amounts shown in the table below represent Eastern Energy Gas' share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Eastern Energy Gas' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 32 $ 11 $ — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Tioga 56 69 30 2 Total $ 456 $ 154 $ 8 |
EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under joint facility ownership agreements with other utilities, EGTS, as a tenant in common, has undivided interests in jointly owned transmission and storage facilities. EGTS accounts for its proportionate share of each facility, and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners primarily based on their percentage of ownership. Operating costs and expenses on the Consolidated Statements of Operations include EGTS' share of the expenses of these facilities. The amounts shown in the table below represent EGTS' share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction EGTS' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 32 $ 11 $ — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Total $ 456 $ 154 $ 8 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Lessee, Lease, Description [Line Items] | |
Leases | Leases The following table summarizes the Company's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 545 $ 524 Finance leases 418 448 Total right-of-use assets $ 963 $ 972 Lease liabilities: Operating leases $ 605 $ 577 Finance leases 432 463 Total lease liabilities $ 1,037 $ 1,040 The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 552 $ 611 $ 592 Operating 136 161 151 Finance: Amortization 20 23 18 Interest 36 38 40 Short-term 44 15 20 Total lease costs $ 788 $ 848 $ 821 Weighted-average remaining lease term (years): Operating leases 7.4 7.6 7.4 Finance leases 28.1 28.1 27.5 Weighted-average discount rate: Operating leases 4.1 % 4.3 % 4.5 % Finance leases 8.6 % 8.6 % 8.5 % The following table summarizes the Company's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (141) $ (163) $ (152) Operating cash flows from finance leases (36) (38) (40) Financing cash flows from finance leases (25) (28) (24) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 131 $ 119 $ 83 Finance leases 3 2 19 The Company has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 158 $ 63 $ 221 2024 126 62 188 2025 101 61 162 2026 78 60 138 2027 53 56 109 Thereafter 189 559 748 Total undiscounted lease payments 705 861 1,566 Less - amounts representing interest (100) (429) (529) Lease liabilities $ 605 $ 432 $ 1,037 |
Leases | Leases The following table summarizes the Company's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 545 $ 524 Finance leases 418 448 Total right-of-use assets $ 963 $ 972 Lease liabilities: Operating leases $ 605 $ 577 Finance leases 432 463 Total lease liabilities $ 1,037 $ 1,040 The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 552 $ 611 $ 592 Operating 136 161 151 Finance: Amortization 20 23 18 Interest 36 38 40 Short-term 44 15 20 Total lease costs $ 788 $ 848 $ 821 Weighted-average remaining lease term (years): Operating leases 7.4 7.6 7.4 Finance leases 28.1 28.1 27.5 Weighted-average discount rate: Operating leases 4.1 % 4.3 % 4.5 % Finance leases 8.6 % 8.6 % 8.5 % The following table summarizes the Company's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (141) $ (163) $ (152) Operating cash flows from finance leases (36) (38) (40) Financing cash flows from finance leases (25) (28) (24) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 131 $ 119 $ 83 Finance leases 3 2 19 The Company has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 158 $ 63 $ 221 2024 126 62 188 2025 101 61 162 2026 78 60 138 2027 53 56 109 Thereafter 189 559 748 Total undiscounted lease payments 705 861 1,566 Less - amounts representing interest (100) (429) (529) Lease liabilities $ 605 $ 432 $ 1,037 |
PAC | |
Lessee, Lease, Description [Line Items] | |
Leases | Leases The following table summarizes PacifiCorp's leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 9 11 Total right-of-use assets $ 20 $ 22 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 11 12 Total lease liabilities $ 22 $ 23 The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 61 $ 56 $ 60 Operating 3 3 3 Finance: Amortization 1 5 2 Interest 1 2 2 Short-term 5 3 1 Total lease costs $ 71 $ 69 $ 68 Weighted-average remaining lease term (years): Operating leases 11.4 12.7 13.9 Finance leases 9.7 10.1 8.4 Weighted-average discount rate: Operating leases 3.9 % 3.7 % 3.8 % Finance leases 11.4 % 11.1 % 10.5 % Cash payments associated with operating and finance lease liabilities approximated lease cost for the years ended December 31, 2022, 2021 and 2020. PacifiCorp has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 3 $ 2 $ 5 2024 2 2 4 2025 2 2 4 2026 1 2 3 2027 1 2 3 Thereafter 5 8 13 Total undiscounted lease payments 14 18 32 Less - amounts representing interest (3) (7) (10) Lease liabilities $ 11 $ 11 $ 22 |
Leases | Leases The following table summarizes PacifiCorp's leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 9 11 Total right-of-use assets $ 20 $ 22 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 11 12 Total lease liabilities $ 22 $ 23 The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 61 $ 56 $ 60 Operating 3 3 3 Finance: Amortization 1 5 2 Interest 1 2 2 Short-term 5 3 1 Total lease costs $ 71 $ 69 $ 68 Weighted-average remaining lease term (years): Operating leases 11.4 12.7 13.9 Finance leases 9.7 10.1 8.4 Weighted-average discount rate: Operating leases 3.9 % 3.7 % 3.8 % Finance leases 11.4 % 11.1 % 10.5 % Cash payments associated with operating and finance lease liabilities approximated lease cost for the years ended December 31, 2022, 2021 and 2020. PacifiCorp has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 3 $ 2 $ 5 2024 2 2 4 2025 2 2 4 2026 1 2 3 2027 1 2 3 Thereafter 5 8 13 Total undiscounted lease payments 14 18 32 Less - amounts representing interest (3) (7) (10) Lease liabilities $ 11 $ 11 $ 22 |
NPC | |
Lessee, Lease, Description [Line Items] | |
Leases | Leases The following table summarizes Nevada Power's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 9 $ 10 Finance leases 303 326 Total right-of-use assets $ 312 $ 336 Lease liabilities: Operating leases $ 11 $ 13 Finance leases 313 336 Total lease liabilities $ 324 $ 349 The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 369 $ 449 $ 434 Operating 2 2 3 Finance: Amortization 14 13 12 Interest 27 28 29 Total lease costs $ 412 $ 492 $ 478 Weighted-average remaining lease term (years): Operating leases 4.8 5.7 6.5 Finance leases 29.1 28.7 28.7 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.6 % The following table summarizes Nevada Power's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (3) $ (3) $ (3) Operating cash flows from finance leases (28) (29) (34) Financing cash flows from finance leases (17) (16) (15) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ — $ 1 Finance leases 3 1 9 Nevada Power has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 2 $ 44 $ 46 2024 3 44 47 2025 3 43 46 2026 3 44 47 2027 2 42 44 Thereafter — 414 414 Total undiscounted lease payments 13 631 644 Less - amounts representing interest (2) (318) (320) Lease liabilities $ 11 $ 313 $ 324 Operating and Finance Lease Obligations Nevada Power's lease obligation primarily consists of a transmission line, One Nevada Transmission Line ("ON Line"), which was placed in-service on December 31, 2013. Nevada Power and Sierra Pacific, collectively the ("Nevada Utilities"), entered into a long-term transmission use agreement, in which the Nevada Utilities have a 25% interest and Great Basin Transmission South, LLC has a 75% interest. The Nevada Utilities' share of the long-term transmission use agreement and ownership interest is split at 75% for Nevada Power and 25% for Sierra Pacific, previously split 95% for Nevada Power and 5% for Sierra Pacific. In December 2019, the PUCN ordered the Nevada Utilities to complete the necessary procedures to change the ownership split to 75% for Nevada Power and 25% for Sierra Pacific, effective January 1, 2020. In August 2020, the FERC approved the amended agreement between the Nevada Utilities and Great Basin Transmission, LLC that reallocated the PUCN-approved ownership percentage change from Nevada Power to Sierra Pacific. The term of the lease is 41 years with the agreement ending December 31, 2054. Total ON Line finance lease obligations of $276 million and $286 million were included on the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively. See Note 2 for further discussion of Nevada Power's other lease obligations. |
Leases | Leases The following table summarizes Nevada Power's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 9 $ 10 Finance leases 303 326 Total right-of-use assets $ 312 $ 336 Lease liabilities: Operating leases $ 11 $ 13 Finance leases 313 336 Total lease liabilities $ 324 $ 349 The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 369 $ 449 $ 434 Operating 2 2 3 Finance: Amortization 14 13 12 Interest 27 28 29 Total lease costs $ 412 $ 492 $ 478 Weighted-average remaining lease term (years): Operating leases 4.8 5.7 6.5 Finance leases 29.1 28.7 28.7 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.6 % The following table summarizes Nevada Power's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (3) $ (3) $ (3) Operating cash flows from finance leases (28) (29) (34) Financing cash flows from finance leases (17) (16) (15) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ — $ 1 Finance leases 3 1 9 Nevada Power has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 2 $ 44 $ 46 2024 3 44 47 2025 3 43 46 2026 3 44 47 2027 2 42 44 Thereafter — 414 414 Total undiscounted lease payments 13 631 644 Less - amounts representing interest (2) (318) (320) Lease liabilities $ 11 $ 313 $ 324 Operating and Finance Lease Obligations Nevada Power's lease obligation primarily consists of a transmission line, One Nevada Transmission Line ("ON Line"), which was placed in-service on December 31, 2013. Nevada Power and Sierra Pacific, collectively the ("Nevada Utilities"), entered into a long-term transmission use agreement, in which the Nevada Utilities have a 25% interest and Great Basin Transmission South, LLC has a 75% interest. The Nevada Utilities' share of the long-term transmission use agreement and ownership interest is split at 75% for Nevada Power and 25% for Sierra Pacific, previously split 95% for Nevada Power and 5% for Sierra Pacific. In December 2019, the PUCN ordered the Nevada Utilities to complete the necessary procedures to change the ownership split to 75% for Nevada Power and 25% for Sierra Pacific, effective January 1, 2020. In August 2020, the FERC approved the amended agreement between the Nevada Utilities and Great Basin Transmission, LLC that reallocated the PUCN-approved ownership percentage change from Nevada Power to Sierra Pacific. The term of the lease is 41 years with the agreement ending December 31, 2054. Total ON Line finance lease obligations of $276 million and $286 million were included on the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively. See Note 2 for further discussion of Nevada Power's other lease obligations. |
SPPC | |
Lessee, Lease, Description [Line Items] | |
Leases | Leases The following table summarizes Sierra Pacific's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 16 $ 15 Finance leases 105 111 Total right-of-use assets $ 121 $ 126 Lease liabilities: Operating leases $ 15 $ 15 Finance leases 108 115 Total lease liabilities $ 123 $ 130 The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 103 $ 86 $ 78 Operating 1 1 2 Finance: Amortization 5 5 4 Interest 8 9 9 Total lease costs $ 117 $ 101 $ 93 Weighted-average remaining lease term (years): Operating leases 26.0 27.4 27.2 Finance leases 28.2 28.4 27.8 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.4 % 8.2 % 8.1 % The following table summarizes Sierra Pacific's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (1) $ (2) Operating cash flows from finance leases (9) (9) (6) Financing cash flows from finance leases (7) (7) (5) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1 $ — $ — Finance leases 1 1 89 Sierra Pacific has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 1 $ 16 $ 17 2024 1 15 16 2025 1 16 17 2026 1 15 16 2027 1 13 14 Thereafter 23 137 160 Total undiscounted lease payments 28 212 240 Less - amounts representing interest (13) (104) (117) Lease liabilities $ 15 $ 108 $ 123 Operating and Finance Lease Obligations Sierra Pacific's operating and finance lease obligations consist mainly of ON Line and Truckee-Carson Irrigation District ("TCID"). ON Line was placed in-service on December 31, 2013. Sierra Pacific and Nevada Power, collectively the ("Nevada Utilities"), entered into a long-term transmission use agreement, in which the Nevada Utilities have a 25% interest and Great Basin Transmission South, LLC has a 75% interest. The Nevada Utilities' share of the long-term transmission use agreement and ownership interest is split at 75% for Nevada Power and 25% for Sierra Pacific, previously split 95% for Nevada Power and 5% for Sierra Pacific. In December 2019, the PUCN ordered the Nevada Utilities to complete the necessary procedures to change the ownership split to 75% for Nevada Power and 25% for Sierra Pacific, effective January 1, 2020. In August 2020, the FERC approved the amended agreement between the Nevada Utilities and Great Basin Transmission, LLC that reallocated the PUCN-approved ownership percentage change from Nevada Power to Sierra Pacific. The term of the lease is 41 years with the agreement ending December 31, 2054. In 1999, Sierra Pacific entered into a 50-year agreement with TCID to lease electric distribution facilities. Total finance lease obligations of $107 million and $110 million were included on the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively, for these leases. See Note 2 for further discussion of Sierra Pacific's remaining lease obligations. |
Leases | Leases The following table summarizes Sierra Pacific's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 16 $ 15 Finance leases 105 111 Total right-of-use assets $ 121 $ 126 Lease liabilities: Operating leases $ 15 $ 15 Finance leases 108 115 Total lease liabilities $ 123 $ 130 The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 103 $ 86 $ 78 Operating 1 1 2 Finance: Amortization 5 5 4 Interest 8 9 9 Total lease costs $ 117 $ 101 $ 93 Weighted-average remaining lease term (years): Operating leases 26.0 27.4 27.2 Finance leases 28.2 28.4 27.8 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.4 % 8.2 % 8.1 % The following table summarizes Sierra Pacific's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (1) $ (2) Operating cash flows from finance leases (9) (9) (6) Financing cash flows from finance leases (7) (7) (5) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1 $ — $ — Finance leases 1 1 89 Sierra Pacific has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 1 $ 16 $ 17 2024 1 15 16 2025 1 16 17 2026 1 15 16 2027 1 13 14 Thereafter 23 137 160 Total undiscounted lease payments 28 212 240 Less - amounts representing interest (13) (104) (117) Lease liabilities $ 15 $ 108 $ 123 Operating and Finance Lease Obligations Sierra Pacific's operating and finance lease obligations consist mainly of ON Line and Truckee-Carson Irrigation District ("TCID"). ON Line was placed in-service on December 31, 2013. Sierra Pacific and Nevada Power, collectively the ("Nevada Utilities"), entered into a long-term transmission use agreement, in which the Nevada Utilities have a 25% interest and Great Basin Transmission South, LLC has a 75% interest. The Nevada Utilities' share of the long-term transmission use agreement and ownership interest is split at 75% for Nevada Power and 25% for Sierra Pacific, previously split 95% for Nevada Power and 5% for Sierra Pacific. In December 2019, the PUCN ordered the Nevada Utilities to complete the necessary procedures to change the ownership split to 75% for Nevada Power and 25% for Sierra Pacific, effective January 1, 2020. In August 2020, the FERC approved the amended agreement between the Nevada Utilities and Great Basin Transmission, LLC that reallocated the PUCN-approved ownership percentage change from Nevada Power to Sierra Pacific. The term of the lease is 41 years with the agreement ending December 31, 2054. In 1999, Sierra Pacific entered into a 50-year agreement with TCID to lease electric distribution facilities. Total finance lease obligations of $107 million and $110 million were included on the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively, for these leases. See Note 2 for further discussion of Sierra Pacific's remaining lease obligations. |
EGTS | |
Lessee, Lease, Description [Line Items] | |
Leases | Leases The following table summarizes EGTS' leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 19 $ 20 Total right-of-use assets $ 19 $ 20 Lease liabilities: Operating leases $ 18 $ 18 Total lease liabilities $ 18 $ 18 The following table summarizes EGTS' lease costs for the years ended December 31 (in millions): 2022 2021 2020 Operating $ 2 $ 3 $ 6 Short-term — — 3 Total lease costs $ 2 $ 3 $ 9 Weighted-average remaining lease term (years): Operating leases 13.7 14.7 11.7 Finance leases 0.0 0.0 4.6 Weighted-average discount rate: Operating leases 4.3 % 4.3 % 4.4 % Finance leases — % — % 2.6 % The following table summarizes EGTS' supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2 $ 3 $ 9 Operating cash flows from finance leases — 1 — Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — $ 1 EGTS has the following remaining operating lease commitments as of December 31, 2022 (in millions): 2023 $ 2 2024 2 2025 2 2026 2 2027 2 Thereafter 14 Total undiscounted lease payments 24 Less - amounts representing interest (6) Lease liabilities $ 18 |
Leases | Leases The following table summarizes EGTS' leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 19 $ 20 Total right-of-use assets $ 19 $ 20 Lease liabilities: Operating leases $ 18 $ 18 Total lease liabilities $ 18 $ 18 The following table summarizes EGTS' lease costs for the years ended December 31 (in millions): 2022 2021 2020 Operating $ 2 $ 3 $ 6 Short-term — — 3 Total lease costs $ 2 $ 3 $ 9 Weighted-average remaining lease term (years): Operating leases 13.7 14.7 11.7 Finance leases 0.0 0.0 4.6 Weighted-average discount rate: Operating leases 4.3 % 4.3 % 4.4 % Finance leases — % — % 2.6 % The following table summarizes EGTS' supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2 $ 3 $ 9 Operating cash flows from finance leases — 1 — Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — $ 1 EGTS has the following remaining operating lease commitments as of December 31, 2022 (in millions): 2023 $ 2 2024 2 2025 2 2026 2 2027 2 Thereafter 14 Total undiscounted lease payments 24 Less - amounts representing interest (6) Lease liabilities $ 18 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2022 | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future regulated rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred net power costs 1 year $ 1,478 $ 531 Asset retirement obligations 15 years 835 742 Employee benefit plans (1) 14 years 490 472 Deferred income taxes (2) Various 373 342 Asset disposition costs Various 231 285 Demand side management 10 years 224 211 Levelized depreciation 28 years 151 135 Unrealized losses on regulated derivative contracts 1 year 112 157 Environmental costs 30 years 111 108 Wildfire mitigation and vegetation management costs Various 111 21 Deferred operating costs 10 years 83 103 Other Various 863 856 Total regulatory assets $ 5,062 $ 3,963 Reflected as: Current assets $ 1,319 $ 544 Noncurrent assets 3,743 3,419 Total regulatory assets $ 5,062 $ 3,963 (1) Includes amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. (2) Amounts primarily represent income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. The Company had regulatory assets not earning a return on investment of $2.3 billion and $1.8 billion as of December 31, 2022 and 2021, respectively. Regulatory Liabilities Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 2,901 $ 3,185 Cost of removal (2) 27 years 2,578 2,424 Revenue sharing mechanisms 2 years 426 188 Unrealized gains on regulated derivative contracts 1 year 343 86 Asset retirement obligations 31 years 250 345 Levelized depreciation 28 years 245 259 Employee benefit plans (3) Various 180 243 Other Various 446 484 Total regulatory liabilities $ 7,369 $ 7,214 Reflected as: Current liabilities $ 299 $ 254 Noncurrent liabilities 7,070 6,960 Total regulatory liabilities $ 7,369 $ 7,214 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (3) Includes amounts not yet recognized as a component of net periodic benefit cost that are expected to be returned to customers in future periods when recognized. |
PAC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future rates. PacifiCorp's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 16 years $ 290 $ 286 Utah mine disposition (2) Various 115 116 Unamortized contract values 1 year 18 36 Deferred net power costs 2 years 546 151 Environmental costs 30 years 111 108 Asset retirement obligation 29 years 275 241 Demand side management (DSM) 10 years 224 211 Wildfire mitigation and vegetation management costs Various 111 21 Other Various 190 182 Total regulatory assets $ 1,880 $ 1,352 Reflected as: Current assets $ 275 $ 65 Noncurrent assets 1,605 1,287 Total regulatory assets $ 1,880 $ 1,352 (1) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in rates when recognized. (2) Amounts represent regulatory assets established as a result of the Utah mine disposition in 2015 for the United Mine Workers of America ("UMWA") 1974 Pension Plan withdrawal and closure costs incurred to date considered probable of recovery. PacifiCorp had regulatory assets not earning a return on investment of $1,200 million and $723 million as of December 31, 2022 and 2021, respectively. Regulatory Liabilities Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. PacifiCorp's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Cost of removal (1) 26 years $ 1,332 $ 1,187 Deferred income taxes (2) Various 1,164 1,307 Unrealized gain on regulated derivatives 1 year 270 53 Other Various 173 221 Total regulatory liabilities $ 2,939 $ 2,768 Reflected as: Current liabilities $ 96 $ 118 Noncurrent liabilities 2,843 2,650 Total regulatory liabilities $ 2,939 $ 2,768 (1) Amounts represent estimated costs, as generally accrued through depreciation rates, of removing property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (2) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable of being passed on to customers, partially offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. |
MEC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future regulated rates. MidAmerican Energy's regulatory assets reflected on the Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Asset retirement obligations (1) 9 years $ 469 $ 393 Employee benefit plans (2) 15 years 47 42 Other Various 34 38 Total $ 550 $ 473 (1) Amount predominantly relates to AROs for fossil-fueled and wind-powered generating facilities. Refer to Note 11 for a discussion of AROs. (2) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. MidAmerican Energy had regulatory assets not earning a return on investment of $548 million and $470 million as of December 31, 2022 and 2021, respectively. Regulatory Liabilities Regulatory liabilities represent amounts expected to be returned to customers in future periods. MidAmerican Energy's regulatory liabilities reflected on the Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Cost of removal (1) 29 years $ 392 $ 394 Iowa electric revenue sharing (2) 1 year 312 115 Asset retirement obligations (3) 31 years 247 341 Deferred income taxes (4) Various 72 83 Pre-funded AFUDC on transmission MVPs (5) 57 years 34 34 Unrealized gain on regulated derivative contracts 1 year 31 26 Employee benefit plans (6) N/A — 55 Other Various 31 32 Total $ 1,119 $ 1,080 (1) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing utility plant in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (2) Represents current-year accruals under a regulatory arrangement in Iowa in which equity returns exceeding specified thresholds reduce utility plant upon final determination. (3) Amount represents the excess of nuclear decommission trust assets over the related ARO. Refer to Note 11 for a discussion of AROs. (4) Amounts primarily represent income tax liabilities primarily related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (5) Represents AFUDC accrued on transmission MVPs that is deducted from rate base as a result of the inclusion of related construction work-in-progress in rate base. (6) Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. Natural Gas Purchased for Resale In February 2021, severe cold weather over the central U.S. caused disruptions in natural gas supply from the southern part of the U.S. These disruptions, combined with increased demand, resulted in historically high prices for natural gas purchased for resale to MidAmerican Energy's retail customers and caused an approximate $245 million increase in natural gas costs above those normally expected. These increased costs are reflected in cost of natural gas purchased for resale and other on the Statement of Operations and their recovery through the Purchased Gas Adjustment Clause is reflected in regulated natural gas and other revenue. To mitigate the impact to MidAmerican Energy's customers, the IUB ordered the recovery of these higher costs to be applied to customer bills over the period April 2021 through April 2022 based on a customer's monthly natural gas usage. The unbilled portion of these costs as of December 31, 2021, is reflected in trade receivables, net on the Balance Sheet. |
MidAmerican Funding, LLC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory MattersRefer to Note 5 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future rates. Nevada Power's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred energy costs 1 year 654 273 Decommissioning costs 3 years 116 169 Merger costs from 1999 merger 22 years 105 110 Unrealized loss on regulated derivative contracts 1 year 75 117 Asset retirement obligations 5 years 69 73 Deferred operating costs 13 years 67 93 Other Various 208 184 Total regulatory assets $ 1,294 $ 1,019 Reflected as: Current assets $ 666 $ 291 Noncurrent assets 628 728 Total regulatory assets $ 1,294 $ 1,019 Nevada Power had regulatory assets not earning a return on investment of $320 million and $371 million as of December 31, 2022 and 2021, respectively. The regulatory assets not earning a return on investment primarily consist of merger costs from the 1999 merger, AROs, deferred operating costs, a portion of the employee benefit plans, losses on reacquired debt and deferred energy costs. Regulatory Liabilities Regulatory liabilities represent amounts that are expected to be returned to customers in future periods. Nevada Power's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 560 $ 603 Cost of removal (2) 31 years 358 348 Earning sharing mechanism 4 years 114 73 Other Various 106 125 Total regulatory liabilities $ 1,138 $ 1,149 Reflected as: Current liabilities $ 45 $ 49 Noncurrent liabilities 1,093 1,100 Total regulatory liabilities $ 1,138 $ 1,149 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to accelerated tax depreciation and certain property-related basis differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Deferred Energy Nevada statutes permit regulated utilities to adopt deferred energy accounting procedures. The intent of these procedures is to ease the effect on customers of fluctuations in the cost of purchased natural gas, fuel and electricity and are subject to annual prudency review by the PUCN. Under deferred energy accounting, to the extent actual fuel and purchased power costs exceed fuel and purchased power costs recoverable through current rates that excess is not recorded as a current expense on the Consolidated Statements of Operations but rather is deferred and recorded as a regulatory asset on the Consolidated Balance Sheets and would be included in the table above as deferred energy costs. Conversely, a regulatory liability is recorded to the extent fuel and purchased power costs recoverable through current rates exceed actual fuel and purchased power costs and is included in the table above as deferred energy costs. These excess amounts are reflected in quarterly adjustments to rates and recorded as cost of fuel, energy and capacity in future time periods. |
SPPC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future rates. Sierra Pacific's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred energy costs 1 year $ 277 $ 107 Natural disaster protection plan 1 year 69 62 Merger costs from 1999 merger 24 years 63 66 Employee benefit plans (1) 8 years 57 46 Deferred operating costs 7 years 35 31 Unrealized loss on regulated derivative contracts 1 year 21 35 Other Various 89 93 Total regulatory assets $ 611 $ 440 Reflected as: Current assets $ 357 $ 177 Noncurrent assets 254 263 Total regulatory assets $ 611 $ 440 (1) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. Sierra Pacific had regulatory assets not earning a return on investment of $143 million and $158 million as of December 31, 2022 and 2021, respectively. The regulatory assets not earning a return on investment primarily consist of merger costs from the 1999 merger, a portion of the employee benefit plans, losses on reacquired debt, AROs and legacy meters. Regulatory Liabilities Regulatory liabilities represent amounts that are expected to be returned to customers in future periods. Sierra Pacific's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 223 $ 234 Cost of removal (2) 35 years 200 201 Other Various 32 28 Total regulatory liabilities $ 455 $ 463 Reflected as: Current liabilities $ 19 $ 19 Noncurrent liabilities 436 444 Total regulatory liabilities $ 455 $ 463 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to accelerated tax depreciation and certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Deferred Energy Nevada statutes permit regulated utilities to adopt deferred energy accounting procedures. The intent of these procedures is to ease the effect on customers of fluctuations in the cost of purchased natural gas, fuel and electricity and are subject to annual prudency review by the PUCN. Under deferred energy accounting, to the extent actual fuel and purchased power costs exceed fuel and purchased power costs recoverable through current rates that excess is not recorded as a current expense on the Consolidated Statements of Operations but rather is deferred and recorded as a regulatory asset on the Consolidated Balance Sheets and would be included in the table above as deferred energy costs. Conversely, a regulatory liability is recorded to the extent fuel and purchased power costs recoverable through current rates exceed actual fuel and purchased power costs and is included in the table above as deferred energy costs. These excess amounts are reflected in quarterly adjustments to rates and recorded as cost of fuel, energy and capacity in future time periods. Regulatory Rate Review In June 2022, Sierra Pacific filed a regulatory rate review with the PUCN that requested an annual revenue increase of $88 million, or 9.7%. In addition, a filing was made to revise depreciation rates based on a study, the results of which are reflected in the proposed revenue requirement. In August 2022, Sierra Pacific filed an updated certification filing that requested an annual revenue increase of $77 million, or 8.5%. Parties to the review filed testimony and evidence in August and September 2022. Hearings in the cost of capital, revenue requirement, and rate design phases were held in September, October, and November 2022, respectively. In December 2022, the PUCN issued an order approving an increase in base rates of $58 million, effective January 1, 2023, reflecting a reduction in Sierra Pacific's requested rate of return, updated depreciation and amortization rates for its electric operations and updated time of use periods to reflect the changes in system costs due to the increased solar generation on the system. |
EEGH | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future regulated rates. Eastern Energy Gas' regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 11 years $ 32 $ 62 Other Various 16 12 Total regulatory assets $ 48 $ 74 Reflected as: Other current assets $ 8 $ 6 Other assets 40 68 Total regulatory assets $ 48 $ 74 (1) Represents costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain rate-regulated subsidiaries. Eastern Energy Gas had regulatory assets not earning a return on investment of $44 million and $8 million as of December 31, 2022 and 2021, respectively. Regulatory Liabilities Regulatory liabilities represent income to be recognized or amounts expected to be returned to customers in future periods. Eastern Energy Gas' regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Income taxes refundable through future rates (1) Various $ 406 $ 468 Other postretirement benefit costs (2) Various 123 116 Provision for rate refunds (3) 90 — Cost of removal (4) 53 years 82 73 Other Various 21 28 Total regulatory liabilities $ 722 $ 685 Reflected as: Current liabilities $ 126 $ 40 Noncurrent liabilities 596 645 Total regulatory liabilities $ 722 $ 685 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred. (3) Reflects amounts expected to be refunded to customers in late February 2023 in connection with the EGTS rate case. See below for more information. (4) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Refer to Note 11 for more information. Regulatory Matters Eastern Gas Transmission and Storage, Inc. In September 2021, 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 transmission rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund. In September 2022, a settlement agreement was filed with the FERC, resolving EGTS' general rate case for its FERC-jurisdictional services and providing for increased service rates and decreased depreciation rates. Under the terms of the settlement agreement, EGTS' rates result in an increase to annual firm transmission and storage revenues of approximately $160 million and a decrease in annual depreciation expense of approximately $30 million, compared to the rates in effect prior to April 1, 2022. As of December 31, 2022, EGTS' provision for rate refund for April 2022 through December 2022 totaled $90 million and was included in current regulatory liabilities on the Consolidated Balance Sheet. In November 2022, the FERC approved the settlement agreement. 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 AFUDC, recorded within operations and maintenance expense in the Consolidated Statement of Operations. 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 AFUDC, 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 the Consolidated Statement of Operations in the second quarter of 2021. In September 2021, the FERC approved EGTS' accounting entries and supporting documentation. In December 2014, EGTS entered into a precedent agreement with Atlantic Coast Pipeline, LLC ("Atlantic Cost Pipeline") for the project previously intended for EGTS to provide approximately 1,500,000 decatherms ("Dth") of firm transmission service to various customers in connection with the Atlantic Coast Pipeline project ("Supply Header Project"). As a result of the cancellation of the Atlantic Coast Pipeline project, in the second quarter of 2020 Eastern Energy Gas recorded a charge of $482 million ($359 million after-tax) in operations and maintenance expense in its Consolidated Statement of Operations associated with the probable abandonment of a significant portion of the project as well as the establishment of a $75 million ARO. In the third quarter of 2020, Eastern Energy Gas recorded an additional charge of $10 million ($7 million after-tax) associated with the probable abandonment of a significant portion of the project and a $29 million ($20 million after-tax) benefit from a revision to the previously established ARO, both of which were recorded in operations and maintenance expense in Eastern Energy Gas' Consolidated Statement of Operations. As EGTS evaluates its future use, approximately $40 million remains within property, plant and equipment for a potential modified project. Cove Point In January 2020, pursuant to the terms of a previous settlement, Cove Point filed a general rate case for its FERC-jurisdictional services, with proposed rates to be effective March 1, 2020. Cove Point proposed an annual cost-of-service of $182 million. In February 2020, FERC approved suspending the changes in rates for five months following the proposed effective date, until August 1, 2020, subject to refund. In November 2020, Cove Point reached an agreement in principle with the active participants in the general rate case proceeding. Under the terms of the agreement in principle, Cove Point's rates effective August 1, 2020 resulted in an increase to annual revenues of $4 million and a decrease in annual depreciation expense of $1 million, compared to the rates in effect prior to August 1, 2020. The interim settlement rates were implemented November 1, 2020, and Cove Point's provision for rate refunds for August 2020 through October 2020 totaled $7 million. The agreement in principle was reflected in a stipulation and agreement filed with the FERC in January 2021. In March 2021, the FERC approved the stipulation and agreement and the rate refunds to customers were processed in late April 2021. |
EGTS | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Regulatory Matters | Regulatory Matters Regulatory Assets Regulatory assets represent costs that are expected to be recovered in future regulated rates. EGTS' regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 11 years $ 31 $ 58 Other Various 8 6 Total regulatory assets $ 39 $ 64 Reflected as: Current assets $ 5 $ 2 Noncurrent assets 34 62 Total regulatory assets $ 39 $ 64 (1) Represents costs expected to be recovered through future rates generally over the expected remaining service period of plan participants. EGTS had regulatory assets not earning a return on investment of $39 million and $64 million as of December 31, 2022 and 2021, respectively. Regulatory Liabilities Regulatory liabilities represent income to be recognized or amounts expected to be returned to customers in future periods. EGTS' regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Income taxes refundable through future rates (1) Various $ 382 $ 391 Other postretirement benefit costs (2) Various 123 116 Provision for rate refunds (3) 90 — Cost of removal (4) 53 years 24 16 Other Various 8 9 Total regulatory liabilities $ 627 $ 532 Reflected as: Current liabilities $ 109 $ 25 Noncurrent liabilities 518 507 Total regulatory liabilities $ 627 $ 532 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred. (3) Reflects amounts expected to be refunded to customers in late February 2023 in connection with the EGTS rate case. See below for more information. (4) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Refer to Note 12 for more information. Regulatory Matters In September 2021, 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 transmission rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund. In September 2022, a settlement agreement was filed with the FERC, resolving EGTS' general rate case for its FERC-jurisdictional services and providing for increased service rates and decreased depreciation rates. Under the terms of the settlement agreement, EGTS' rates result in an increase to annual firm transmission and storage revenues of approximately $160 million and a decrease in annual depreciation expense of approximately $30 million, compared to the rates in effect prior to April 1, 2022. As of December 31, 2022, EGTS' provision for rate refund for April 2022 through December 2022 totaled $90 million and was included in current regulatory liabilities on the Consolidated Balance Sheet. In November 2022, the FERC approved the settlement agreement. 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 AFUDC, recorded in disallowance and abandonment of utility plant on the Consolidated Statement of Operations. 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 AFUDC, which resulted in a reduction to the estimated charge of $11 million ($8 million after-tax) that was recorded in disallowance and abandonment of utility plant on the Consolidated Statement of Operations in the second quarter of 2021. In September 2021, the FERC approved EGTS' accounting entries and supporting documentation. In December 2014, EGTS entered into a precedent agreement with Atlantic Coast Pipeline, LLC ("Atlantic Cost Pipeline") for the project previously intended for EGTS to provide approximately 1,500,000 decatherms ("Dth") of firm transmission service to various customers in connection with the Atlantic Coast Pipeline project ("Supply Header Project"). As a result of the cancellation of the Atlantic Coast Pipeline project, in the second quarter of 2020 EGTS recorded a charge of $482 million ($359 million after-tax) in disallowance and abandonment of utility plant on the Consolidated Statement of Operations associated with the probable abandonment of a significant portion of the project as well as the establishment of a $75 million ARO. In the third quarter of 2020, EGTS recorded an additional charge of $10 million ($7 million after-tax) associated with the probable abandonment of a significant portion of the project and a $29 million ($20 million after-tax) benefit from a revision to the previously established ARO, both of which were recorded in disallowance and abandonment of utility plant on the Consolidated Statement of Operations. As EGTS evaluates its future use, approximately $40 million remains within property, plant and equipment for a potential modified project. |
Investments and Restricted Cash
Investments and Restricted Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2022 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents | Investments and Restricted Cash and Cash Equivalents and Investments Investments and restricted cash and cash equivalents and investments consists of the following as of December 31 (in millions): 2022 2021 Investments: BYD Company Limited common stock $ 3,763 $ 7,693 U.S. Treasury Bills 1,931 — Rabbi trusts 433 492 Other 335 305 Total investments 6,462 8,490 Equity method investments: BHE Renewables tax equity investments 4,535 4,931 Electric Transmission Texas, LLC 623 595 Iroquois Gas Transmission System, L.P. 600 735 Other 304 293 Total equity method investments 6,062 6,554 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 664 768 Other restricted cash and cash equivalents 226 148 Total restricted cash and cash equivalents and investments 890 916 Total investments and restricted cash and cash equivalents and investments $ 13,414 $ 15,960 Reflected as: Other current assets $ 2,141 $ 172 Noncurrent assets 11,273 15,788 Total investments and restricted cash and cash equivalents and investments $ 13,414 $ 15,960 Investments BHE's investment in BYD Company Limited common stock is accounted for as a marketable security with changes in fair value recognized in net income. Rabbi trusts primarily hold corporate-owned life insurance on certain current and former key executives and directors. The Rabbi trusts were established to hold investments used to fund the obligations of various nonqualified executive and director compensation plans and to pay the costs of the trusts. The amount represents the cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value. (Losses) gains on marketable securities, net recognized during the period consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Unrealized (losses) gains recognized on marketable securities held at the reporting date $ (1,487) $ 1,819 $ 4,791 Net (losses) gains recognized on marketable securities sold during the period (515) 4 6 (Losses) gains on marketable securities, net $ (2,002) $ 1,823 $ 4,797 Equity Method Investments The Company has invested in wind projects sponsored by third parties, commonly referred to as tax equity investments. Under the terms of these tax equity investments, the Company has entered into equity capital contribution agreements with the project sponsors that require contributions. The Company made no contributions in 2022 and 2021 and $2,736 million in 2020. Once a project achieves commercial operation, the Company enters into a partnership agreement with the project sponsor that directs and allocates the operating profits and tax benefits from the project. BHE, through separate subsidiaries, owns (i) 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut; (ii) 50% of Electric Transmission Texas, LLC, which owns and operates electric transmission assets in the Electric Reliability Council of Texas footprint; (iii) 50% of JAX LNG, LLC, which is an LNG supplier in Florida serving the growing marine and truck LNG markets; and (iv) 66.67% of Bridger Coal Company ("Bridger Coal"), which is a coal mining joint venture that supplies coal to PacifiCorp's Jim Bridger Nos. 1-4 generating facility. Bridger Coal is being accounted for under the equity method of accounting as the power to direct the activities that most significantly impact Bridger Coal's economic performance are shared with the joint venture partner. Coal purchases from Bridger Coal for the years ended December 31, 2022, 2021 and 2020 totaled $100 million, $132 million and $128 million, respectively. Restricted Investments MidAmerican Energy has established a trust for the investment of funds for decommissioning the Quad Cities Nuclear Station Units 1 and 2 ("Quad Cities Station"). The debt and equity securities in the trust are reported at fair value. Funds are invested in the trust in accordance with applicable federal and state investment guidelines and are restricted for use as reimbursement for costs of decommissioning the Quad Cities Station, which are currently licensed for operation until December 2032. |
MEC | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents | Investments and Restricted Investments Investments and restricted investments consists of the following amounts as of December 31 (in millions): 2022 2021 Nuclear decommissioning trust $ 664 $ 768 Rabbi trusts 215 233 Other 23 25 Total $ 902 $ 1,026 MidAmerican Energy has established a trust for the investment of funds for decommissioning the Quad Cities Station. The debt and equity securities in the trust are reported at fair value. Funds are invested in the trust in accordance with applicable federal and state investment guidelines and are restricted for use as reimbursement for costs of decommissioning the Quad Cities Station, which is currently licensed for operation until December 2032. As of December 31, 2022 and 2021, the fair value of the trust's funds was invested as follows: 54% and 56%, respectively, in domestic common equity securities, 32% and 30%, respectively, in U.S. government securities, 11% and 12%, respectively, in domestic corporate debt securities and 3% and 2%, respectively, in other securities. Rabbi trusts primarily hold corporate-owned life insurance on certain current and former key executives and directors. The Rabbi trusts were established to hold investments used to fund the obligations of various nonqualified executive and director compensation plans and to pay the costs of the trusts. The amount represents the cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value. Changes in the cash surrender value of the policies are reflected in other income (expense) - other, net on the Statements of Operation. |
MidAmerican Funding, LLC | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents | Investments and Restricted InvestmentsRefer to Note 6 of MidAmerican Energy's Notes to Financial Statements. In addition to MidAmerican Energy's investments and restricted investments, MHC had corporate-owned life insurance policies in a Rabbi trust owned by MHC with a total cash surrender value of $2 million as of December 31, 2022 and 2021. |
EEGH | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents | Investments and Restricted Cash and Cash Equivalents Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2022 2021 Investments: Investment funds $ 14 $ 13 Equity method investments: Iroquois 264 399 Total investments 278 412 Restricted cash and cash equivalents: Customer deposits 30 17 Total restricted cash and cash equivalents 30 17 Total investments and restricted cash and cash equivalents $ 308 $ 429 Reflected as: Current assets $ 30 $ 17 Noncurrent assets 278 412 Total investments and restricted cash and cash equivalents $ 308 $ 429 Equity Method Investments Eastern Energy Gas, through subsidiaries, owns 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut. Prior to the GT&S Transaction, Eastern Energy Gas, through the Questar Pipeline Group, owned 50% of White River Hub, which owns and operates a natural gas pipeline in northwest Colorado. As of both December 31, 2022 and 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 made contributions of $154 million in 2021. Eastern Energy Gas received distributions from its investments of $195 million, $44 million and $77 million for the years ended December 31, 2022, 2021 and 2020, respectively. In the third quarter of 2022, in connection with the settlement of regulated tax matters in the Iroquois rate case, Eastern Energy Gas released a long-term regulatory liability and recognized a $45 million benefit that was recorded in equity income in its Consolidated Statements of Operations. |
EGTS | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents | Investments and Restricted Cash and Cash Equivalents Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2022 2021 Investments: Investment funds $ 14 $ 13 Restricted cash and cash equivalents: Customer deposits 29 15 Total restricted cash and cash equivalents 29 15 Total investments and restricted cash and cash equivalents $ 43 $ 28 Reflected as: Current assets $ 29 $ 15 Noncurrent assets 14 13 Total investments and restricted cash and cash equivalents $ 43 $ 28 |
Short-term Debt and Credit Faci
Short-term Debt and Credit Facilities | 12 Months Ended |
Dec. 31, 2022 | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit Facilities The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31 (in millions): MidAmerican NV Northern BHE BHE PacifiCorp Funding Energy Powergrid Canada HomeServices Total (1) 2022: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 296 $ 793 $ 2,925 $ 10,873 Less: Short-term debt (245) — — — (120) (197) (557) (1,119) Tax-exempt bond support and letters of credit — (249) (370) — — (1) — (620) Net credit facilities $ 3,255 $ 951 $ 1,139 $ 650 $ 176 $ 595 $ 2,368 $ 9,134 2021: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 271 $ 851 $ 3,300 $ 11,281 Less: Short-term debt — — — (339) (1) (245) (1,424) (2,009) Tax-exempt bond support and letters of credit — (218) (370) — — (1) — (589) Net credit facilities $ 3,500 $ 982 $ 1,139 $ 311 $ 270 $ 605 $ 1,876 $ 8,683 (1) The table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. (2) Includes $55 million and $1 million, respectively, drawn on capital expenditure and other uncommitted credit facilities at Northern Powergrid as of December 31, 2022 and 2021. As of December 31, 2022, the Company was in compliance with the covenants of its credit facilities and letter of credit arrangements. BHE BHE has a $3.5 billion unsecured credit facility expiring in June 2025 with an unlimited number of maturity extension options subject to lender consent. This credit facility, which is for general corporate purposes, supports BHE's commercial paper program and provides for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate ("SOFR") or a base rate, at BHE's option, plus a spread that varies based on BHE's credit ratings for its senior unsecured long-term debt securities. As of December 31, 2022 and 2021, BHE had $245 million and $— million of commercial paper borrowings outstanding at a weighted average interest rate of 4.55% and —%, respectively. The credit facility requires that BHE's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.70 to 1.0 as of the last day of each quarter. As of December 31, 2022 and 2021, BHE had $101 million of letters of credit outstanding outside of its credit facility. These letters of credit primarily support power purchase agreements and debt service requirements at certain subsidiaries of BHE Renewables, LLC expiring through January 2024 and have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date. PacifiCorp PacifiCorp has a $1.2 billion unsecured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which supports PacifiCorp's commercial paper program and certain series of its tax-exempt bond obligations and provides for the issuance of letters of credit, has a variable interest rate based on SOFR or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities. In January 2023, PacifiCorp entered into an additional $800 million 364-day unsecured credit facility expiring in January 2024.No amounts are currently outstanding against this new credit facility. As of December 31, 2022 and 2021, PacifiCorp did not have any commercial paper borrowings outstanding. The credit facility requires that PacifiCorp's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. As of December 31, 2022 and 2021, PacifiCorp had $38 million and $19 million, respectively, of fully available letters of credit issued under committed arrangements outside of its credit facility in support of certain transactions required by third parties that generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date. MidAmerican Funding As of December 31, 2022, MidAmerican Energy has a $1.5 billion unsecured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which supports MidAmerican Energy's commercial paper program and its variable-rate tax-exempt bond obligations and provides for the issuance of letters of credit, has a variable interest rate based on SOFR or a base rate, at MidAmerican Energy's option, plus a spread that varies based on MidAmerican Energy's credit ratings for senior unsecured long-term debt securities. As of December 31, 2022 and 2021, MidAmerican Energy had no commercial paper borrowings outstanding. The $1.5 billion credit facility requires that MidAmerican Energy's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of any quarter. As of December 31, 2022 and 2021, MidAmerican Energy had $34 million and $42 million, respectively, of fully available letters of credit issued under committed arrangements outside of its credit facility in support of certain transactions required by third parties that generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date. NV Energy Nevada Power has a $400 million secured credit facility expiring in June 2025 and Sierra Pacific has a $250 million secured credit facility expiring in June 2025 each with an unlimited number of maturity extension options, subject to lender consent. These credit facilities, which are for general corporate purposes and provide for the issuance of letters of credit, have a variable interest rate based on SOFR or a base rate, at each of the Nevada Utilities' option, plus a spread that varies based on each of the Nevada Utilities' credit ratings for its senior secured long‑term debt securities. As of December 31, 2022 and 2021, the Nevada Utilities had borrowings of $— million and $339 million outstanding under these credit facilities at a weighted average interest rate of —% and 0.86%, respectively. Amounts due under each credit facility are collateralized by each of the Nevada Utilities' general and refunding mortgage bonds. These credit facilities require that each of the Nevada Utilities' ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. Northern Powergrid Northern Powergrid has a £200 million unsecured credit facility expiring in December 2025 with a one-year maturity extension option remaining. The credit facility has a variable interest rate based on Sterling Overnight Index Average plus a spread that varies based on Northern Powergrid's credit ratings and a credit adjustment spread that varies based on the tenor of any borrowings. The credit facility requires that the ratio of consolidated senior total net debt, including current maturities, to regulated asset value not exceed 0.8 to 1.0 at Northern Powergrid and 0.65 to 1.0 at each of Northern Powergrid (Northeast) plc and Northern Powergrid (Yorkshire) plc as of June 30 and December 31. Northern Powergrid's interest coverage ratio shall not be less than 2.5 to 1.0. As of December 31, 2022 and 2021, Northern Powergrid had $65 million and $— million outstanding under this facility at a weighted average interest rate of 3.56% and —%, respectively. AltaLink AltaLink has a C$500 million secured revolving term credit facility expiring in December 2027 with a recurring one-year extension option subject to lender consent. The credit facility, which supports AltaLink's commercial paper program and may also be used for general corporate purposes, has a variable interest rate based on the Canadian bank prime lending rate or a spread above the Bankers' Acceptance rate, at AltaLink's option, based on AltaLink's credit ratings for its senior secured long-term debt securities. In addition, AltaLink has a C$75 million secured revolving term credit facility expiring in December 2027 with a recurring one-year extension option subject to lender consent. The credit facility, which may be used for general corporate purposes and letters of credit, has a variable interest rate based on the Canadian bank prime lending rate, U.S. base rate, or a spread above the Bankers' Acceptance rate, at AltaLink's option, based on AltaLink's credit ratings for its senior secured long-term debt securities. As of December 31, 2022 and 2021, AltaLink had $89 million and $108 million outstanding under these facilities at a weighted average interest rate of 4.59% and 0.35%, respectively. The credit facilities require the ratio of consolidated indebtedness to total capitalization not exceed 0.75 to 1.0 measured as of the last day of each quarter. AltaLink Investments, L.P. has a C$300 million unsecured revolving term credit facility expiring in December 2026 with a recurring one-year extension option subject to lender consent. The credit facility, which may be used for general corporate purposes and letters of credit to a maximum of C$10 million, has a variable interest rate based on the Canadian bank prime lending rate, U.S. base rate, or a spread above the Bankers' Acceptance rate, at AltaLink Investments, L.P.'s option, based on AltaLink Investments, L.P.'s credit ratings for its senior unsecured long-term debt securities. AltaLink Investments, L.P. also has a C$200 million revolving term credit facility expiring in April 2023 with a recurring one-year extension option subject to lender consent. The credit facility, which may be used for general corporate purposes and letters of credit to a maximum of C$10 million, has a variable interest rate based on the Canadian bank prime lending rate, U.S. base rate, or a spread above the Bankers' Acceptance rate, at AltaLink Investments, L.P.'s option, based on AltaLink Investments, L.P.'s credit ratings for its senior unsecured long-term debt securities. On an annual basis, with the consent of the lenders, AltaLink Investments, L.P. can request that the maturity date of the credit facility be extended for a further 365 days. As of December 31, 2022 and 2021, AltaLink Investments, L.P. had $108 million and $137 million outstanding under this facility at a weighted average interest rate of 5.71% and 1.46%, respectively. The credit facilities require the ratio of consolidated total debt to capitalization not exceed 0.8 to 1.0 and earnings before interest, taxes, depreciation and amortization to interest expense for the four fiscal quarters ended not be less than 2.25 to 1.0 measured as of the last day of each quarter. HomeServices HomeServices has an $700 million unsecured credit facility expiring in September 2026. The credit facility, which is for general corporate purposes and provides for the issuance of letters of credit, has a variable interest rate based on the London Interbank Offered Rate ("LIBOR") or a base rate, at HomeServices' option, plus a spread that varies based on HomeServices' total net leverage ratio as of the last day of each quarter. As of December 31, 2022 and 2021, HomeServices had $115 million and $250 million, respectively, outstanding under its credit facility with a weighted average interest rate of 5.17% and 0.95%, respectively. Through its subsidiaries, HomeServices maintains mortgage lines of credit totaling $2.2 billion and $2.6 billion as of December 31, 2022 and 2021, respectively, used for mortgage banking activities that expire beginning in March 2023 through September 2023. The mortgage lines of credit have variable rates based on the Bloomberg Short-term Bank Yield Index or SOFR, plus a spread. Collateral for these credit facilities is comprised of residential property being financed and is equal to the loans funded with the facilities. As of December 31, 2022 and 2021, HomeServices had $442 million and $1.2 billion, respectively, outstanding under these mortgage lines of credit at a weighted average interest rate of 6.09% and 1.91%, respectively. BHE Renewables Letters of Credit As of December 31, 2022 and 2021, certain renewable projects collectively have letters of credit outstanding of $309 million and $311 million, respectively, primarily in support of the power purchase agreements and large generator interconnection agreements associated with the projects. |
PAC | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit Facilities The following table summarizes PacifiCorp's availability under its unsecured credit facility as of December 31 (in millions): 2022: Credit facility $ 1,200 Less: Tax-exempt bond support and letters of credit (249) Net credit facility $ 951 2021: Credit facility $ 1,200 Less: Tax-exempt bond support (218) Net credit facility $ 982 As of December 31, 2022, PacifiCorp was in compliance with the covenants of its credit facility and letter of credit arrangements. PacifiCorp has a $1.2 billion unsecured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which supports PacifiCorp's commercial paper program and certain series of its tax-exempt bond obligations and provides for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities. As of December 31, 2022 and 2021, PacifiCorp did not have any commercial paper borrowings outstanding. The credit facility requires that PacifiCorp's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. In January 2023, PacifiCorp entered into an additional $800 million 364-day unsecured credit facility expiring in January 2024. No amounts are currently outstanding against this new credit facility. As of December 31, 2022 and 2021, PacifiCorp had $38 million and $19 million, respectively, of fully available letters of credit issued under committed arrangements outside of its credit facility in support of certain transactions required by third parties that generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date. |
MEC | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit Facilities Interim financing of working capital needs and the construction program is obtained from unaffiliated parties through the sale of commercial paper or short-term borrowing from banks. The following table summarizes MidAmerican Energy's availability under its unsecured revolving credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 1,505 $ 1,505 Less: Variable-rate tax-exempt bond support (370) (370) Net credit facilities $ 1,135 $ 1,135 As of December 31, 2022, MidAmerican Energy has a $1.5 billion unsecured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which supports MidAmerican Energy's commercial paper program and its variable-rate tax-exempt bond obligations and provides for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate ("SOFR") or a base rate, at MidAmerican Energy's option, plus a spread that varies based on MidAmerican Energy's credit ratings for senior unsecured long-term debt securities. Additionally, MidAmerican Energy has a $5 million unsecured credit facility, which expires June 2023 and has a variable interest rate based on SOFR, plus a spread. MidAmerican Energy had no commercial paper borrowings outstanding of as of December 31, 2022 and 2021. The $1.5 billion credit facility requires that MidAmerican Energy's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of any quarter. As of December 31, 2022, MidAmerican Energy was in compliance with the covenants of its credit facilities. MidAmerican Energy has authority from the FERC to issue commercial paper and bank notes aggregating $1.5 billion through April 2, 2024. As of December 31, 2022 and 2021, MidAmerican Energy had $34 million and $42 million, respectively, of fully available letters of credit issued under committed arrangements outside of its credit facility in support of certain transactions required by third parties that generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date. |
MidAmerican Funding, LLC | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit FacilitiesRefer to Note 7 of MidAmerican Energy's Notes to Financial Statements. In addition to MidAmerican Energy's credit facilities, MHC has a $4 million unsecured credit facility, which expires in June 2023 and has a variable interest rate based on the Secured Overnight Financing Rate, plus a spread. As of December 31, 2022 and 2021, there were no borrowings outstanding under this credit facility. As of December 31, 2022, MHC was in compliance with the covenants of its credit facility. |
NPC | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit Facilities The following table summarizes Nevada Power's availability under its credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 400 $ 400 Short-term debt — (180) Net credit facilities $ 400 $ 220 Nevada Power has a $400 million secured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which is for general corporate purposes and provide for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate ("SOFR") or a base rate, at Nevada Power's option, plus a spread that varies based on Nevada Power's credit ratings for its senior secured long‑term debt securities. As of December 31, 2022 and 2021, Nevada Power had borrowings of $— million and $180 million, respectively, outstanding under the credit facility. As of December 31, 2022 and 2021, the weighted average interest rate on borrowings outstanding was —% and 0.86%, respectively. Amounts due under Nevada Power's credit facility are collateralized by Nevada Power's general and refunding mortgage bonds. The credit facility requires Nevada Power's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. As of December 31, 2022 and 2021, Nevada Power had $— million and $15 million, respectively, of a fully available letter of credit issued under committed arrangements in support of certain transactions required by a third party and has provisions that automatically extend the annual expiration date for an additional year unless the issuing bank elects not to renew the letter of credit prior to the expiration date. |
SPPC | |
Line of Credit Facility [Line Items] | |
Short-term Debt and Credit Facilities | Short-term Debt and Credit Facilities The following table summarizes Sierra Pacific's availability under its credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 250 $ 250 Short-term debt — (159) Net credit facilities $ 250 $ 91 Sierra Pacific has a $250 million secured credit facility expiring in June 2025 with an unlimited number of maturity extension options, subject to lender consent. The credit facility, which is for general corporate purposes and provides for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate or a base rate, at Sierra Pacific's option, plus a spread that varies based on Sierra Pacific's credit ratings for its senior secured long‑term debt securities. As of December 31, 2022 and 2021, Sierra Pacific had borrowings of $— million and $159 million, respectively, outstanding under the credit facility. As of December 31, 2022 and 2021, the weighted average interest rate on borrowings outstanding was —% and 0.86%, respectively. Amounts due under Sierra Pacific's credit facility are collateralized by Sierra Pacific's general and refunding mortgage bonds. The credit facility requires Sierra Pacific's ratio of debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter. |
BHE Debt
BHE Debt | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
BHE Debt | BHE Debt Senior Debt BHE senior debt represents unsecured senior obligations of BHE that are redeemable in whole or in part at any time generally with make whole premiums. BHE senior debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 2.80% Senior Notes, due 2023 $ 400 $ 400 $ 398 3.75% Senior Notes, due 2023 500 500 499 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,245 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 266 260 3.70% Senior Notes, due 2030 1,100 1,095 1,096 1.65% Senior Notes, due 2031 500 497 497 6.125% Senior Bonds, due 2036 1,670 1,661 1,661 5.95% Senior Bonds, due 2037 550 548 548 6.50% Senior Bonds, due 2037 225 223 223 5.15% Senior Notes, due 2043 750 740 740 4.50% Senior Notes, due 2045 750 738 738 3.80% Senior Notes, due 2048 750 738 738 4.45% Senior Notes, due 2049 1,000 990 990 4.25% Senior Notes, due 2050 900 889 889 2.85% Senior Notes, due 2051 1,500 1,487 1,488 4.60% Senior Notes, due 2053 1,000 987 — Total BHE Senior Debt $ 14,101 $ 13,996 $ 13,003 Reflected as: Current liabilities $ 900 $ — Noncurrent liabilities 13,096 13,003 Total BHE Senior Debt $ 13,996 $ 13,003 Junior Subordinated Debentures BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2022 2021 5.00% Junior subordinated debentures, due 2057 100 100 100 Total BHE junior subordinated debentures - noncurrent $ 100 $ 100 $ 100 The junior subordinated debentures are held by a minority shareholder and are redeemable at BHE's option at any time from and after June 15, 2037, at par plus accrued and unpaid interest. Interest expense to the minority shareholder was $5 million for each of the years ended December 31, 2022, 2021 and 2020. |
Subsidiary Debt
Subsidiary Debt | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Subsidiary Debt | Subsidiary Debt BHE's direct and indirect subsidiaries are organized as legal entities separate and apart from BHE and its other subsidiaries. Pursuant to separate financing agreements, substantially all of PacifiCorp's electric utility properties; the equity interest of MidAmerican Funding's subsidiary; MidAmerican Energy's electric utility properties in the state of Iowa; substantially all of Nevada Power's and Sierra Pacific's properties in the state of Nevada; AltaLink's transmission properties; and substantially all of the assets of the subsidiaries of BHE Renewables that are direct or indirect owners of wind and solar generation projects are pledged or encumbered to support or otherwise provide the security for their related subsidiary debt. It should not be assumed that the assets of any subsidiary will be available to satisfy BHE's obligations or the obligations of its other subsidiaries. However, unrestricted cash or other assets which are available for distribution may, subject to applicable law, regulatory commitments and the terms of financing and ring-fencing arrangements for such parties, be advanced, loaned, paid as dividends or otherwise distributed or contributed to BHE or affiliates thereof. The long-term debt of BHE's subsidiaries may include provisions that allow BHE's subsidiaries to redeem such debt in whole or in part at any time. These provisions generally include make-whole premiums. Distributions at these separate legal entities are limited by various covenants including, among others, leverage ratios, interest coverage ratios and debt service coverage ratios. As of December 31, 2022, all subsidiaries were in compliance with their long-term debt covenants. Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 PacifiCorp $ 9,742 $ 9,666 $ 8,730 MidAmerican Funding 8,057 7,954 7,946 NV Energy 4,386 4,354 3,675 Northern Powergrid 3,085 3,054 3,287 BHE Pipeline Group 5,518 5,849 5,924 BHE Transmission 3,509 3,495 3,906 BHE Renewables 3,064 3,027 3,043 HomeServices 140 140 148 Total subsidiary debt $ 37,501 $ 37,539 $ 36,659 Reflected as: Current liabilities $ 2,301 $ 1,265 Noncurrent liabilities 35,238 35,394 Total subsidiary debt $ 37,539 $ 36,659 PacifiCorp PacifiCorp's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 $ 1,377 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 1,094 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 2,042 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 1,238 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 2,761 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 9,742 $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. The issuance of PacifiCorp's first mortgage bonds is limited by available property, earnings tests and other provisions of PacifiCorp's mortgage. Approximately $33 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2022. MidAmerican Funding MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 240 $ 240 Fair value adjustment — (15) (15) MidAmerican Funding, net of fair value adjustments 239 225 225 MidAmerican Energy: First Mortgage Bonds: 3.70%, due 2023 250 250 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2022-3.83%, 2021-0.13%), due 2023-2047 370 369 368 Total MidAmerican Energy 7,818 7,729 7,721 Total MidAmerican Funding $ 8,057 $ 7,954 $ 7,946 Pursuant to MidAmerican Energy's mortgage dated September 9, 2013, MidAmerican Energy's first mortgage bonds, currently and from time to time outstanding, are secured by a first mortgage lien on substantially all of its electric generating, transmission and distribution property within the state of Iowa, subject to certain exceptions and permitted encumbrances. Approximately $24 billion of MidAmerican Energy's eligible property, based on original cost, was subject to the lien of the mortgage as of December 31, 2022. Additionally, MidAmerican Energy's senior notes outstanding are equally and ratably secured with the first mortgage bonds as required by the indentures under which the senior notes were issued. MidAmerican Energy's variable-rate tax-exempt obligations bear interest at rates that are periodically established through remarketing of the bonds in the short-term tax-exempt market. MidAmerican Energy, at its option, may change the mode of interest calculation for these bonds by selecting from among several floating or fixed rate alternatives. The interest rates shown in the table above are the weighted average interest rates as of December 31, 2022 and 2021. MidAmerican Energy maintains revolving credit facility agreements to provide liquidity for holders of these issues. Additionally, MidAmerican Energy's obligations associated with $180 million of the variable rate, tax-exempt bond obligations are secured by an equal amount of first mortgage bonds pursuant to MidAmerican Energy's mortgage dated September 9, 2013, as supplemented and amended. NV Energy NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total Nevada Power 3,234 3,195 2,499 Fair value adjustments — 10 11 Total Nevada Power, net of fair value adjustments 3,234 3,205 2,510 Sierra Pacific: General and refunding mortgage securities: 3.375% Series T, due 2023 250 249 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total Sierra Pacific 1,152 1,148 1,164 Fair value adjustments — 1 1 Total Sierra Pacific, net of fair value adjustment 1,152 1,149 1,165 Total NV Energy $ 4,386 $ 4,354 $ 3,675 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. The issuance of General and Refunding Mortgage Securities by the Nevada Utilities are subject to PUCN approval and are limited by available property and other provisions of the mortgage indentures for each of Nevada Power and Sierra Pacific. As of December 31, 2022, approximately $9.8 billion of Nevada Power's and $4.9 billion of Sierra Pacific's (based on original cost) property was subject to the liens of the mortgages. Northern Powergrid Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 4.133% European Investment Bank loans, due 2022 $ — $ — $ 204 7.25% Bonds, due 2022 — — 269 2.50% Bonds, due 2025 182 181 202 2.073% European Investment Bank loan, due 2025 60 62 69 2.564% European Investment Bank loans, due 2027 302 301 337 7.25% Bonds, due 2028 224 227 254 4.375% Bonds, due 2032 182 179 200 5.125% Bonds, due 2035 242 240 268 5.125% Bonds, due 2035 182 180 201 2.750% Bonds, due 2049 182 178 200 3.250% Bonds, due 2052 423 419 — 2.250% Bonds, due 2059 363 355 398 1.875% Bonds, due 2062 363 356 398 Variable-rate loan, due 2025 (2) 163 164 — Variable-rate loan, due 2026 (3) 217 212 287 Total Northern Powergrid $ 3,085 $ 3,054 $ 3,287 (1) The par values for these debt instruments are denominated in sterling. (2) Amortizes quarterly and the loan is 70% floating and 30% fixed. The Company has entered into an interest rate swap that fixes the interest rate on 100% of the floating rate portion. The variable interest rate as of December 31, 2022, was 5.20% (including 2.00% margin) and the average fixed interest rate was 3.09% (including 2.00% margin). (3) Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 80% of the outstanding debt. The variable interest rate as of December 31, 2022 was 4.98% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.95%. BHE Pipeline Group BHE Pipeline Group's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total Eastern Energy Gas 3,918 3,892 3,906 Fair value adjustments — 368 430 Total Eastern Energy Gas, net of fair value adjustments 3,918 4,260 4,336 Northern Natural Gas: 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 652 651 3.40% Senior Bonds, due 2051 550 540 540 Total Northern Natural Gas 1,600 1,589 1,588 Total BHE Pipeline Group $ 5,518 $ 5,849 $ 5,924 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates at both December 31, 2022 and 2021 that averaged 3.32%. BHE Transmission BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ — $ — $ 158 Total AltaLink Investments, L.P. — — 158 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 — — 218 Series 2013-4 Notes, 3.668%, due 2023 369 369 395 Series 2014-1 Notes, 3.399%, due 2024 258 258 277 Series 2016-1 Notes, 2.747%, due 2026 258 258 276 Series 2020-1 Notes, 1.509%, due 2030 166 165 177 Series 2022-1 Notes, 4.692%, due 2032 203 202 — Series 2006-1 Notes, 5.249%, due 2036 111 111 118 Series 2010-1 Notes, 5.381%, due 2040 92 92 99 Series 2010-2 Notes, 4.872%, due 2040 111 110 118 Series 2011-1 Notes, 4.462%, due 2041 203 202 217 Series 2012-1 Notes, 3.990%, due 2042 387 383 410 Series 2013-3 Notes, 4.922%, due 2043 258 258 276 Series 2014-3 Notes, 4.054%, due 2044 218 216 232 Series 2015-1 Notes, 4.090%, due 2045 258 257 275 Series 2016-2 Notes, 3.717%, due 2046 332 330 354 Series 2013-1 Notes, 4.446%, due 2053 184 184 197 Series 2014-2 Notes, 4.274%, due 2064 96 95 103 Total AltaLink, L.P. 3,504 3,490 3,742 Other: Construction Loan, 5.620%, due 2024 5 5 6 Total BHE Transmission $ 3,509 $ 3,495 $ 3,906 (1) The par values for these debt instruments are denominated in Canadian dollars. BHE Renewables BHE Renewables' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 57 $ 56 $ 62 Solar Star Funding Senior Notes, 3.950%, due 2035 244 242 256 Solar Star Funding Senior Notes, 5.375%, due 2035 787 781 819 Grande Prairie Wind Senior Notes, 3.860%, due 2037 269 267 297 Topaz Solar Farms Senior Notes, 5.750%, due 2039 573 568 600 Topaz Solar Farms Senior Notes, 4.875%, due 2039 162 160 170 Alamo 6 Senior Notes, 4.170%, due 2042 190 188 197 Other — — 5 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 97 96 117 Marshall Wind Term Loan, due 2026 (2) 57 56 63 Flat Top Wind I Term Loan, due 2028 (2) 102 99 113 Mariah Del Norte Term Loan, due 2028 (2) 56 54 — Mariah Del Norte Term Loan, due 2032 (2) 142 138 — Pinyon Pines I and II Term Loans, due 2034 (2) 328 322 344 Total BHE Renewables $ 3,064 $ 3,027 $ 3,043 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or SOFR plus a margin that varies during the terms of the agreements. The Company has entered into interest rate swaps that fix the interest rate on 100% of the TX Jumbo Road, Marshall Wind and Pinyon Pines outstanding debt. The fixed interest rates as of December 31, 2022 and 2021 ranged from 3.23% to 3.88%. The variable interest rate on the Flat Top Wind I and Mariah Del Norte outstanding debt was 9.82% as of December 31, 2022. HomeServices HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Variable-rate: Variable-rate term loan (2022 - 5.242%, 2021 - 0.950%), due 2026 (1) $ 140 $ 140 $ 148 (1) Term loan amortizes quarterly and variable-rate resets monthly. Annual Repayments of Long-Term Debt The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2023 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total BHE senior notes $ 900 $ — $ 1,650 $ — $ — $ 11,551 $ 14,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 449 591 302 100 — 8,300 9,742 MidAmerican Funding 317 538 15 3 378 6,806 8,057 NV Energy 250 300 — 400 — 3,436 4,386 Northern Powergrid 56 57 435 75 302 2,160 3,085 BHE Pipeline Group 650 1,050 — 268 — 3,550 5,518 BHE Transmission 368 263 — 258 — 2,620 3,509 BHE Renewables 203 210 241 218 235 1,957 3,064 HomeServices 8 9 15 108 — — 140 Totals $ 3,201 $ 3,018 $ 2,658 $ 1,430 $ 915 $ 40,480 $ 51,702 |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2022 | |
PAC | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt PacifiCorp's long-term debt was as follows as of December 31 (dollars in millions): 2022 2021 Average Average Principal Carrying Interest Carrying Interest Amount Value Rate Value Rate First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 4.07 % $ 1,377 4.41 % 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 4.35 1,094 4.35 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 5.90 2,042 5.90 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 5.63 1,238 5.63 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 4.03 2,761 3.52 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 4.10 25 0.12 Due 2024 to 2025 (1) 193 193 3.81 193 0.13 Total long-term debt $ 9,742 $ 9,666 $ 8,730 Reflected as: 2022 2021 Current portion of long-term debt $ 449 $ 155 Long-term debt 9,217 8,575 Total long-term debt $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. In December 2022, PacifiCorp issued $1.1 billion of its 5.35% First Mortgage Bonds due December 2053. PacifiCorp intends within 24 months of the issuance date to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, new or existing investments or expenditures made in one or more eligible projects in alignment with BHE's Green Financing Framework. Proceeds will not knowingly be allocated to the same portion of a project that received allocation of proceeds under any other Green Financing Instrument; activities related to the exploration, production, transportation, or consumption of fossil fuels; or activities related to nuclear energy. PacifiCorp's long-term debt generally includes provisions that allow PacifiCorp to redeem the first mortgage bonds in whole or in part at any time through the payment of a make-whole premium. Variable-rate tax-exempt bond obligations are generally redeemable at par value. PacifiCorp currently has regulatory authority from the Oregon Public Utility Commission and the Idaho Public Utilities Commission to issue an additional $900 million of long-term debt. PacifiCorp must make a notice filing with the Washington Utilities and Transportation Commission prior to any future issuance. PacifiCorp currently has an effective shelf registration statement filed with the U.S. Securities and Exchange Commission to issue an indeterminate amount of first mortgage bonds through September 2023. The issuance of PacifiCorp's first mortgage bonds is limited by available property, earnings tests and other provisions of PacifiCorp's mortgage. Approximately $33 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2022. As of December 31, 2022, the annual principal maturities of long-term debt for 2023 and thereafter are as follows (in millions): Long-term Debt 2023 $ 449 2024 591 2025 302 2026 100 2027 — Thereafter 8,300 Total 9,742 Unamortized discount and debt issuance costs (76) Total $ 9,666 |
MEC | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt MidAmerican Energy's long-term debt consists of the following, including amounts maturing within one year and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligations, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2022-3.83%, 2021-0.13%): Due 2023, issued in 1993 7 7 7 Due 2023, issued in 2008 57 57 57 Due 2024 35 35 35 Due 2025 13 13 13 Due 2036 33 33 33 Due 2038 45 45 45 Due 2046 30 30 29 Due 2047 150 149 149 Total long-term debt $ 7,818 $ 7,729 $ 7,721 Reflected as: 2022 2021 Current portion of long-term debt $ 317 $ — Long-term debt 7,412 7,721 Total long-term debt $ 7,729 $ 7,721 The annual repayments of MidAmerican Energy's long-term debt for the years beginning January 1, 2023, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2023 $ 317 2024 538 2025 15 2026 3 2027 378 2028 and thereafter 6,567 Pursuant to MidAmerican Energy's mortgage dated September 9, 2013, MidAmerican Energy's first mortgage bonds, currently and from time to time outstanding, are secured by a first mortgage lien on substantially all of its electric generating, transmission and distribution property within the state of Iowa, subject to certain exceptions and permitted encumbrances. Approximately $24 billion of MidAmerican Energy's eligible property, based on original cost, was subject to the lien of the mortgage as of December 31, 2022. Additionally, MidAmerican Energy's senior notes outstanding are equally and ratably secured with the first mortgage bonds as required by the indentures under which the senior notes were issued. MidAmerican Energy's variable-rate tax-exempt bond obligations bear interest at rates that are periodically established through remarketing of the bonds in the short-term tax-exempt market. MidAmerican Energy, at its option, may change the mode of interest calculation for these bonds by selecting from among several floating or fixed rate alternatives. The interest rates shown in the table above are the weighted average interest rates as of December 31, 2022 and 2021. MidAmerican Energy maintains revolving credit facility agreements to provide liquidity for holders of these issues. Additionally, MidAmerican Energy's obligations associated with the $30 million and $150 million variable rate, tax-exempt bond obligations due 2046 and 2047, respectively, are secured by an equal amount of first mortgage bonds pursuant to MidAmerican Energy's mortgage dated September 9, 2013, as supplemented and amended. As of December 31, 2022, MidAmerican Energy was in compliance with all of its applicable long-term debt covenants. In March 1999, MidAmerican Energy committed to the IUB to use commercially reasonable efforts to maintain an investment grade rating on its long-term debt and to maintain its common equity level above 42% of total capitalization unless circumstances beyond its control result in the common equity level decreasing to below 39% of total capitalization. MidAmerican Energy must seek the approval from the IUB of a reasonable utility capital structure if MidAmerican Energy's common equity level decreases below 42% of total capitalization, unless the decrease is beyond the control of MidAmerican Energy. MidAmerican Energy is also required to seek the approval of the IUB if MidAmerican Energy's equity level decreases to below 39%, even if the decrease is due to circumstances beyond the control of MidAmerican Energy. As of December 31, 2022, MidAmerican Energy's common equity ratio was 55% computed on a basis consistent with its commitment. As a result of its regulatory commitment to maintain its common equity level above certain thresholds, MidAmerican Energy could dividend $4.2 billion as of December 31, 2022, without falling below 42%. |
MidAmerican Funding, LLC | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements for detail and a discussion of its long-term debt. In addition to MidAmerican Energy's annual repayments of long-term debt, MidAmerican Funding parent company has $239 million of 6.927% Senior Bonds due in 2029, with a carrying value of $240 million as of December 31, 2022 and 2021. The MidAmerican Funding parent company bonds are the direct senior secured obligations of MidAmerican Funding and effectively rank junior to all indebtedness and other liabilities of the direct and indirect subsidiaries of MidAmerican Funding, to the extent of the assets of these subsidiaries. MidAmerican Funding may redeem the bonds in whole or in part at any time at a redemption price equal to the sum of any accrued and unpaid interest to the date of redemption and the greater of (1) 100% of the principal amount of the bonds or (2) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds, discounted to the date of redemption on a semiannual basis at the treasury yield plus 25 basis points. MidAmerican Funding parent company long-term debt is secured by a pledge of the common stock of MHC, which is not publicly traded. In the event of any triggering event under the related debt indenture, the common stock of MHC would be available to satisfy the applicable debt obligations. Triggering events include, among other specified circumstances, (1) default on the payment of interest for 30 days or principal for three days; (2) a material default in the performance of any material covenants or obligations in the indenture continuing for a period of 90 days after written notice in accordance with the indenture; or (3) the failure generally of MidAmerican Funding or any significant subsidiary to pay its debts when due. Subsidiaries of MidAmerican Funding must make payments on their own indebtedness before making distributions to MidAmerican Funding. Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements for a discussion of utility regulatory restrictions affecting distributions from MidAmerican Energy. As a result of the utility regulatory restrictions agreed to by MidAmerican Energy in March 1999, MidAmerican Funding had restricted net assets of $5.4 billion as of December 31, 2022. As of December 31, 2022, MidAmerican Funding was in compliance with all of its applicable long-term debt covenants. |
NPC | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt Nevada Power's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total long-term debt $ 3,234 $ 3,195 $ 2,499 Reflected as: Total long-term debt $ 3,195 $ 2,499 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2024 $ 300 2028 and thereafter 2,934 Total 3,234 Unamortized premium, discount and debt issuance cost (39) Total $ 3,195 The issuance of General and Refunding Mortgage Securities by Nevada Power is subject to PUCN approval and is limited by available property and other provisions of the mortgage indentures. As of December 31, 2022, approximately $9.8 billion (based on original cost) of Nevada Power's property was subject to the liens of the mortgages. |
SPPC | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt Sierra Pacific's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 General and refunding mortgage securities: 3.375% Series T, due 2023 $ 250 $ 249 $ 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total long-term debt $ 1,152 $ 1,148 $ 1,164 Reflected as: Current portion of long-term debt $ 250 $ — Long-term debt 898 1,164 Total long-term debt $ 1,148 $ 1,164 Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ 250 2026 400 2028 and thereafter 502 Total 1,152 Unamortized premium, discount and debt issuance cost (4) Total $ 1,148 The issuance of General and Refunding Mortgage Securities by Sierra Pacific is subject to PUCN approval and is limited by available property and other provisions of the mortgage indentures. As of December 31, 2022, approximately $4.9 billion (based on original cost) of Sierra Pacific's property was subject to the liens of the mortgages. |
EEGH | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term DebtOn June 30, 2021, as part of an intercompany transaction with its wholly owned subsidiary EGTS, Eastern Energy Gas exchanged a total of $1.6 billion of its issued and outstanding third party notes, making EGTS the primary obligor of the exchanged notes. The intercompany debt exchange was a common control transaction accounted for as a debt modification with no gain or loss recognized on the Consolidated Financial Statements. Eastern Energy Gas' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars and euros in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total long-term debt $ 3,918 $ 3,892 $ 3,906 Reflected as: Current portion of long-term debt $ 649 $ — Long-term debt 3,243 3,906 Total long-term debt $ 3,892 $ 3,906 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates as of both December 31, 2022 and 2021 that averaged 3.32%. Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ 650 2024 1,050 2025 — 2026 268 2027 — 2028 and thereafter 1,950 Total 3,918 Unamortized premium, discount and debt issuance cost (26) Total $ 3,892 |
EGTS | |
Debt Instrument [Line Items] | |
Long-term Debt | Long-term Debt On June 30, 2021, Eastern Energy Gas exchanged a total of $1.6 billion of its issued and outstanding third-party notes for new notes, making EGTS the primary obligor of the new notes. The terms of the new notes are substantially similar to the terms of the original Eastern Energy Gas notes. The debt exchange was a common control transaction accounted for as a debt modification. As such, no gain or loss was recognized on the Consolidated Statements of Operations and approximately $17 million of unamortized discounts and debt issuance costs and $32 million of deferred losses on previously settled interest rate swaps remaining in AOCI were contributed to EGTS by Eastern Energy Gas in connection with the transaction. In addition, new fees of $2 million paid directly to note holders in connection with the exchange were deferred as additional debt issuance costs that will be amortized over the lives of the respective notes. As a result of the transaction, EGTS' $1.9 billion of long-term indebtedness to Eastern Energy Gas was cancelled in full and the remaining balance was satisfied through a capital contribution. EGTS' long-term debt consists of the following, including unamortized discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 3.60% Senior Notes, due 2024 $ 111 $ 110 $ 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total long-term debt $ 1,600 $ 1,582 $ 1,581 Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ — 2024 111 2025 — 2026 — 2027 — 2028 and thereafter 1,489 Total 1,600 Unamortized discounts and debt issuance costs (18) Total $ 1,582 AOCI The following table presents selected information related to losses on interest rate cash flow hedges included in AOCI in EGTS' Consolidated Balance Sheet as of December 31, 2022 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (30) $ (2) 264 months EGTS reclassified $2 million and $1 million from AOCI to interest expense for the years ended December 31, 2022 and 2021, respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes 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. As of December 31, 2022, the Company had a current income tax payable to Berkshire Hathaway for federal income tax of $113 million. As of December 31, 2021, the Company had a current income tax receivable from Berkshire Hathaway for federal income tax of $324 million and a long-term income tax receivable from Berkshire Hathaway, reflected as a component of BHE's shareholders' equity, of $744 million for Iowa state income tax. Additionally, for the year ended December 31, 2021 the Company generated $100 million of Iowa state net operating losses which were carried forward and increased the long-term income tax receivable from Berkshire Hathaway. In July 2022, the Company amended its tax allocation agreement with Berkshire Hathaway, which changed how state tax attributes will be settled with respect to state income tax returns that Berkshire Hathaway includes the Company. As a result, the Company no longer expects to receive the cash benefits from the state of Iowa net operating loss carryforward previously recorded as a long-term income tax receivable from Berkshire Hathaway as a component of BHE's shareholders' equity, and recognized a noncash distribution of $744 million to retained earnings. Income tax (benefit) expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (1,463) $ (1,701) $ (1,537) State (65) (177) (121) Foreign 79 100 86 (1,449) (1,778) (1,572) Deferred: Federal (408) 1,037 1,438 State (49) (476) 424 Foreign (5) 89 21 (462) 650 1,883 Investment tax credits (5) (4) (3) Total $ (1,916) $ (1,132) $ 308 A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax (benefit) expense is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (124) (27) (16) Effects of ratemaking (16) (4) (3) State income tax, net of federal income tax benefit (6) (10) 3 Non-controlling interest (6) (2) — Income tax effect of foreign income (4) 1 — Equity loss (3) (1) — Other, net 2 1 (1) Effective income tax rate (136) % (21) % 4 % Income tax credits relate primarily to production tax credits ("PTC") from wind- and solar-powered generating facilities owned by MidAmerican Energy, PacifiCorp and BHE Renewables. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the years ended December 31, 2022, 2021 and 2020 totaled $1.7 billion, $1.4 billion, and $1.2 billion, respectively. Income tax effect on foreign income includes, among other items, a deferred income tax charge of $105 million in 2021, related to the United Kingdom's corporate income tax rate. The United Kingdom's rate is scheduled to increase from 19% to 25%, effective April 1, 2023, through legislation enacted in June 2021. The United Kingdom's rate was scheduled to decrease from 19% to 17% effective April 1, 2020; however, the rate was maintained at 19% through amended legislation enacted in July 2020. The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 1,323 $ 1,349 Federal, state and foreign carryforwards 812 820 AROs 283 304 Other 741 686 Total deferred income tax assets 3,159 3,159 Valuation allowances (187) (164) Total deferred income tax assets, net 2,972 2,995 Deferred income tax liabilities: Property-related items (12,244) (11,814) Investments (1,998) (2,877) Regulatory assets (898) (764) Other (510) (478) Total deferred income tax liabilities (15,650) (15,933) Net deferred income tax liability $ (12,678) $ (12,938) The following table provides, without regard to valuation allowances, the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2022 (in millions): Federal State Foreign Total Net operating loss carryforwards (1) $ 192 $ 9,653 $ 725 $ 10,570 Deferred income taxes on net operating loss carryforwards 41 562 166 769 Expiration dates 2023 - indefinite 2023 - indefinite 2028 - 2042 Tax credits $ 15 $ 28 $ — $ 43 Expiration dates 2023 - 2034 2023 - indefinite (1) The federal net operating loss carryforwards relate principally to net operating loss carryforwards of subsidiaries that are tax residents in both the U.S. and the United Kingdom. The federal net operating loss carryforwards were generated prior to Berkshire Hathaway Inc.'s ownership and began to expire in 2022. The U.S. Internal Revenue Service has closed or effectively settled its examination of the Company's income tax returns through December 31, 2013. The statute of limitations for the Company's income tax returns have expired for certain states through December 31, 2011, and for other states through December 31, 2018, except for the impact of any federal audit adjustments. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 97 $ 153 Additions based on tax positions related to the current year 15 24 Additions for tax positions of prior years — 13 Reductions based on tax positions related to the current year (12) (19) Reductions for tax positions of prior years (23) (83) Settlements — (1) Interest and penalties (9) 10 Ending balance $ 68 $ 97 As of December 31, 2022 and 2021, the Company had unrecognized tax benefits totaling $79 million and $100 million, respectively, that if recognized, would have an impact on the effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Recognition of these tax benefits, other than applicable interest and penalties, would not affect the Company's effective income tax rate. |
PAC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes Income tax (benefit) expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (216) $ (150) $ 19 State (3) 7 30 Total (219) (143) 49 Deferred: Federal 90 26 (124) State 71 40 1 Total 161 66 (123) Investment tax credits (4) (2) (1) Total income tax (benefit) expense $ (62) $ (79) $ (75) 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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income taxes, net of federal income tax benefit 3 3 3 Effects of ratemaking (12) (14) (22) Federal income tax credits (22) (20) (13) Valuation allowance 2 — — Other 1 — — Effective income tax rate (7) % (10) % (11) % Income tax credits relate primarily to production tax credits ("PTC") 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 years ended December 31, 2022, 2021 and 2020 totaled $185 million, $164 million and $89 million, respectively. Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. Excess deferred income tax amortization, net of deferrals, was $102 million for 2022. Excess deferred income tax amortization, net of deferrals, was $112 million for 2021, including the use of $4 million to amortize certain regulatory balances in Wyoming and Idaho. Excess deferred income tax amortization, net of deferrals, was $132 million for 2020, including the use of $118 million to accelerate depreciation of certain retired equipment and to amortize certain regulatory balances in Idaho, Oregon and Utah. The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 724 $ 682 Employee benefits 59 68 State carryforwards 73 73 Loss contingencies 107 63 Asset retirement obligations 79 73 Other 80 88 Total deferred income tax assets 1,122 1,047 Valuation allowances (35) (15) Total deferred income tax assets, net 1,087 1,032 Deferred income tax liabilities: Property, plant and equipment (3,612) (3,468) Regulatory assets (462) (332) Other (165) (79) Total deferred income tax liabilities (4,239) (3,879) Net deferred income tax liability $ (3,152) $ (2,847) The following table provides, without regard to valuation allowances, PacifiCorp's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2022 (in millions): State Net operating loss carryforwards $ 1,159 Deferred income taxes on net operating loss carryforwards $ 53 Expiration dates 2023 - indefinite Tax credit carryforwards $ 20 Expiration dates 2023 - indefinite The U.S. Internal Revenue Service has closed or effectively settled its examination of PacifiCorp's income tax returns through December 31, 2013. The statute of limitations for PacifiCorp's income tax returns have expired for certain states through December 31, 2011, and for Idaho through December 31, 2018, except for the impact of any federal audit adjustments. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. |
MEC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes MidAmerican Energy's income tax benefit consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (769) $ (736) $ (684) State (34) (92) (94) (803) (828) (778) Deferred: Federal 77 189 201 State (43) (35) 8 34 154 209 Investment tax credits (1) (1) (1) Total $ (770) $ (675) $ (570) 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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (372) (262) (199) State income tax, net of federal income tax benefit (32) (46) (27) Effects of ratemaking (23) (20) (17) Other, net 3 (1) (1) Effective income tax rate (403) % (308) % (223) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the years ended December 31, 2022, 2021 and 2020 totaled $710 million, $574 million and $510 million, respectively. MidAmerican Energy's net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 194 $ 240 Asset retirement obligations 191 220 Revenue sharing 87 33 State carryforwards 61 55 Employee benefits 37 26 Other 24 (3) Total deferred income tax assets 594 571 Valuation allowances (2) (1) Total deferred income tax assets, net 592 570 Deferred income tax liabilities: Depreciable property (3,895) (3,843) Regulatory assets (128) (112) Other (2) (4) Total deferred income tax liabilities (4,025) (3,959) Net deferred income tax liability $ (3,433) $ (3,389) As of December 31, 2022, MidAmerican Energy's state tax carryforwards, principally related to $921 million of net operating losses, expire at various intervals between 2023 and 2041. The U.S. Internal Revenue Service has closed or effectively settled its examination of MidAmerican Energy's income tax returns through December 31, 2013. The statute of limitations for MidAmerican Energy's income tax returns have expired for certain states through December 31, 2011, and for other states through December 31, 2018, except for the impact of any federal audit adjustments. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. A reconciliation of the beginning and ending balances of MidAmerican Energy's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 13 $ 8 Additions based on tax positions related to the current year 15 16 Reductions based on tax positions related to the current year (12) (11) Ending balance $ 16 $ 13 As of December 31, 2022, MidAmerican Energy had unrecognized tax benefits totaling $39 million that, if recognized, would have an impact on the effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Recognition of these tax benefits, other than applicable interest and penalties, would not affect MidAmerican Energy's effective income tax rate. |
MidAmerican Funding, LLC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes MidAmerican Funding's income tax benefit consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (773) $ (739) $ (689) State (36) (94) (96) (809) (833) (785) Deferred: Federal 77 189 204 State (43) (35) 8 34 154 212 Investment tax credits (1) (1) (1) Total $ (776) $ (680) $ (574) 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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (416) (283) (209) State income tax, net of federal income tax benefit (36) (50) (29) Effects of ratemaking (26) (21) (17) Other, net 3 (2) (1) Effective income tax rate (454) % (335) % (235) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind- and solar-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind- and solar-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind- and solar-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs recognized for the years ended December 31, 2022, 2021 and 2020 totaled $710 million, $574 million and $510 million, respectively. MidAmerican Funding's net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 194 $ 240 Asset retirement obligations 192 220 Revenue sharing 87 33 State carryforwards 61 55 Employee benefits 37 26 Other 24 (3) Total deferred income tax assets 595 571 Valuation allowances (2) (1) Total deferred income tax assets, net 593 570 Deferred income tax liabilities: Depreciable property (3,895) (3,843) Regulatory assets (128) (112) Other (1) (2) Total deferred income tax liabilities (4,024) (3,957) Net deferred income tax liability $ (3,431) $ (3,387) As of December 31, 2022, MidAmerican Funding's state tax carryforwards, principally related to $921 million of net operating losses, expire at various intervals between 2023 and 2041. The U.S. Internal Revenue Service has closed or effectively settled its examination MidAmerican Funding's income tax returns through December 31, 2013. The statute of limitations for MidAmerican Funding's income tax returns have expired for certain states through December 31, 2011, and for other states through December 31, 2018, except for the impact of any federal audit adjustments. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. A reconciliation of the beginning and ending balances of MidAmerican Funding's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 13 $ 8 Additions based on tax positions related to the current year 15 16 Reductions based on tax positions related to the current year (12) (11) Ending balance $ 16 $ 13 As of December 31, 2022, MidAmerican Funding had unrecognized tax benefits totaling $39 million that, if recognized, would have an impact on the effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Recognition of these tax benefits, other than applicable interest and penalties, would not affect MidAmerican Funding's effective income tax rate. |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes Income tax expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current – Federal $ (13) $ 37 $ 57 Deferred – Federal 49 — (10) Total income tax expense $ 36 $ 37 $ 47 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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (11) (11) (8) Other 1 1 1 Effective income tax rate 11 % 11 % 14 % The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 186 $ 195 Operating and finance leases 68 73 Customer advances 27 25 Unamortized contract value 20 25 Other 9 8 Total deferred income tax assets 310 326 Deferred income tax liabilities: Property related items (821) (800) Regulatory assets (273) (204) Operating and finance leases (65) (70) Other (26) (34) Total deferred income tax liabilities (1,185) (1,108) Net deferred income tax liability $ (875) $ (782) |
SPPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes Income tax expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current – Federal $ (12) $ 5 $ 3 Deferred – Federal 31 13 12 Total income tax expense $ 19 $ 18 $ 15 A reconciliation of the federal statutory income rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (7) (8) (9) Effective income tax rate 14 % 13 % 12 % The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 63 $ 64 Operating and finance leases 26 27 Customer advances 17 14 Unamortized contract value 6 8 Other 6 6 Total deferred income tax assets 118 119 Deferred income tax liabilities: Property related items (387) (379) Regulatory assets (135) (94) Operating and finance leases (25) (27) Other (16) (21) Total deferred income tax liabilities (563) (521) Net deferred income tax liability $ (445) $ (402) The U.S. Internal Revenue Service has closed or effectively settled its examination of Sierra Pacific's income tax return through the short year ended December 31, 2013. The closure of examinations, or the expiration of the statute of limitations, may not preclude the U.S. Internal Revenue Service from adjusting the federal net operating loss carryforward utilized in a year for which the statute of limitations is not closed. |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ 12 $ (47) $ (20) State 29 (21) 1 41 (68) (19) Deferred: Federal 88 129 23 State 38 56 (28) 126 185 (5) Total $ 167 $ 117 $ (24) A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 6 3 (13) Equity interest 2 1 4 Effects of ratemaking (1) 1 (2) Change in tax status — — (9) AFUDC-equity — — (1) Noncontrolling interest (10) (11) (16) Write-off of regulatory assets — — 3 Other, net — 1 1 Effective income tax rate 18 % 16 % (12) % For the year ended December 31, 2022, Eastern Energy Gas' reconciliation of the federal statutory income tax rate to the effective income tax rate is driven primarily by the absence of tax on noncontrolling interest. The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Federal and state carryforwards $ 23 $ 7 Employee benefits 22 33 Intangibles 112 150 Derivatives and hedges 16 16 Other 7 9 Total deferred income tax assets 180 215 Deferred income tax liabilities: Property related items (214) (129) Partnership investments (51) (49) Debt exchange (53) (60) Deferred state income taxes (4) (16) Other (12) (16) Total deferred income tax liabilities (334) (270) Net deferred income tax liability (1) $ (154) $ (55) (1) Net deferred income tax liability, as of both December 31, 2022 and 2021, is presented in other assets and other long-term liabilities in the Consolidated Balance Sheet. As of December 31, 2022, Eastern Energy Gas' state tax carryforwards, entirely related to $23 million of net operating losses, expire at various intervals between 2036 and indefinite. Through October 31, 2020, Eastern Energy Gas was included in DEI's consolidated federal income tax return and, where applicable, combined state income tax returns. As a result of the GT&S Transaction, DEI retained the rights and obligations of Eastern Energy Gas' federal and state income tax returns through October 31, 2020. The U.S. Internal Revenue Service has not closed or effectively settled an examination of Eastern Energy Gas' income tax returns for any tax years beginning on or after November 1, 2020. The statute of limitations for Eastern Energy Gas' states remains open for periods beginning on or after November 1, 2020. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. |
EGTS | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Income Taxes | Income Taxes Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ 5 $ (22) $ 48 State 12 (10) 6 17 (32) 54 Deferred: Federal 64 67 (93) State 28 26 (28) 92 93 (121) Total $ 109 $ 61 $ (67) A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 9 8 7 Effects of ratemaking — — 2 AFUDC-equity — — 1 Write-off of regulatory assets — — (3) Other, net (1) (1) (1) Effective income tax rate 29 % 28 % 27 % The net deferred income tax asset consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Federal and state carryforwards $ 6 $ — Employee benefits 22 31 Intangibles and goodwill 265 298 Derivatives and hedges 11 12 Other 4 4 Total deferred income tax assets 308 345 Deferred income tax liabilities: Property related items (146) (77) Debt exchange (53) (60) Employee benefits (4) (9) Total deferred income tax liabilities (203) (146) Net deferred income tax asset (1) $ 105 $ 199 (1) Net deferred income tax asset, as of both December 31, 2022 and 2021, is presented in other assets in the Consolidated Balance Sheet. As of December 31, 2022, EGTS' state tax carryforwards, entirely related to $6 million of net operating losses, expire at various intervals between 2036 and indefinite. Through October 31, 2020, EGTS was included in DEI's consolidated federal income tax return and, where applicable, combined state income tax returns. As a result of the GT&S Transaction, DEI retained the rights and obligations of EGTS' federal and state income tax returns through October 31, 2020. The U.S. Internal Revenue Service has not closed or effectively settled an examination of EGTS' income tax returns for any tax years beginning on or after November 1, 2020. The statute of limitations for EGTS' states remains open for periods beginning on or after November 1, 2020. The closure of examinations, or the expiration of the statute of limitations, for state filings may not preclude the state from adjusting the state net operating loss carryforward utilized in a year for which the statute of limitations is not closed. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Defined Benefit Plans Domestic Operations PacifiCorp, MidAmerican Energy and NV Energy sponsor defined benefit pension plans that cover a majority of all employees of BHE and its domestic energy subsidiaries. These pension plans include noncontributory defined benefit pension plans, supplemental executive retirement plans ("SERP") and restoration plans. PacifiCorp, MidAmerican Energy and NV Energy also provide certain postretirement healthcare and life insurance benefits through various plans to eligible retirees. Net Periodic Benefit Cost For purposes of calculating the expected return on plan assets, a market-related value is used. The market-related value of plan assets is generally calculated by spreading the difference between expected and actual investment returns over a five-year period beginning after the first year in which they occur. Net periodic benefit cost (credit) for the plans included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ 22 $ 30 $ 17 $ 11 $ 12 $ 7 Interest cost 83 78 93 20 19 21 Expected return on plan assets (108) (134) (140) (29) (22) (34) Curtailment (10) — — — — — Settlement 17 3 — — — — Net amortization 19 25 32 (1) (3) (4) Net periodic benefit cost (credit) $ 23 $ 2 $ 2 $ 1 $ 6 $ (10) Funded Status The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 2,795 $ 2,824 $ 769 $ 744 Employer contributions 14 13 8 14 Participant contributions — — 8 9 Actual return on plan assets (491) 234 (122) 53 Settlement (164) (134) — — Benefits paid (141) (142) (49) (51) Plan assets at fair value, end of year $ 2,013 $ 2,795 $ 614 $ 769 The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 2,777 $ 3,077 $ 714 $ 758 Service cost 22 30 11 12 Interest cost 83 78 20 19 Participant contributions — — 8 9 Actuarial (gain) loss (524) (132) (155) (35) Amendment (3) — 20 2 Curtailment (10) — — — Settlement (164) (134) — — Benefits paid (141) (142) (49) (51) Benefit obligation, end of year $ 2,040 $ 2,777 $ 569 $ 714 Accumulated benefit obligation, end of year $ 2,003 $ 2,713 The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 2,013 $ 2,795 $ 614 $ 769 Benefit obligation, end of year 2,040 2,777 569 714 Funded status $ (27) $ 18 $ 45 $ 55 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 125 $ 204 $ 52 $ 60 Other current liabilities (13) (13) — — Other long-term liabilities (139) (173) (7) (5) Amounts recognized $ (27) $ 18 $ 45 $ 55 The SERPs and restoration plan have no plan assets; however, the Company has Rabbi trusts that hold corporate-owned life insurance and other investments to provide funding for the future cash requirements of the SERPs and restoration plan. The cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value, plus the fair market value of other Rabbi trust investments, was $300 million and $343 million as of December 31, 2022 and 2021, respectively. These assets are not included in the plan assets in the above table, but are reflected in noncurrent investments and restricted cash and investments on the Consolidated Balance Sheets. The fair value of plan assets, projected benefit obligation and accumulated benefit obligation for (1) pension and other postretirement benefit plans with a projected benefit obligation in excess of the fair value of plan assets and (2) pension plans with an accumulated benefit obligation in excess of the fair value of plan assets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Fair value of plan assets $ 490 $ — $ 240 $ 137 Projected benefit obligation $ 643 $ 186 $ 247 $ 142 Fair value of plan assets $ — $ — Accumulated benefit obligation $ 142 $ 185 Unrecognized Amounts The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ 365 $ 343 $ (38) $ (34) Prior service (credit) cost (4) (1) 21 (1) Regulatory deferrals 29 11 1 2 Total $ 390 $ 353 $ (16) $ (33) A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Pension Balance, December 31, 2020 $ 600 $ (20) $ 33 $ 613 Net gain arising during the year (177) (44) (10) (231) Settlement (9) 5 — (4) Net amortization (24) — (1) (25) Total (210) (39) (11) (260) Balance, December 31, 2021 390 (59) 22 353 Net loss (gain) arising during the year 58 38 (20) 76 Net prior service credit arising during the year — (3) — (3) Settlement (13) (4) — (17) Net amortization (17) — (2) (19) Total 28 31 (22) 37 Balance, December 31, 2022 $ 418 $ (28) $ — $ 390 Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Other Postretirement Balance, December 31, 2020 $ 47 $ (23) $ 4 $ 28 Net gain arising during the year (40) (22) (3) (65) Net prior service cost arising during the year 1 — — 1 Net amortization 3 — — 3 Total (36) (22) (3) (61) Balance, December 31, 2021 11 (45) 1 (33) Net loss (gain) arising during the year 20 (20) (4) (4) Net prior service cost arising during the year 11 8 1 20 Net amortization 3 (2) — 1 Total 34 (14) (3) 17 Balance, December 31, 2022 $ 45 $ (59) $ (2) $ (16) Plan Assumptions Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.65 % 2.98 % 2.60 % 4.54 % 2.95 % 2.59 % Rate of compensation increase 3.00 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2020 N/A N/A 2.44 % N/A N/A N/A 2021 N/A 2.45 % 2.25 % N/A N/A N/A 2022 3.25 % 2.56 % 2.25 % N/A N/A N/A 2023 4.25 % 2.56 % 2.65 % N/A N/A N/A 2024 4.25 % 2.83 % 2.65 % N/A N/A N/A 2025 and beyond 3.65 % 2.83 % 2.65 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.98 % 2.60 % 3.32 % 2.95 % 2.59 % 3.24 % Expected return on plan assets 4.30 % 5.39 % 5.94 % 4.20 % 3.35 % 5.42 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rate for cash balance plan 3.25 % 2.45 % 2.44 % N/A N/A N/A In establishing its assumption as to the expected return on plan assets, the Company utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. 2022 2021 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.50 % 6.00 % Rate that the cost trend rate gradually declines to 5.00 % 5.00 % Year that the rate reaches the rate it is assumed to remain at 2028 2025 Contributions and Benefit Payments Employer contributions to the pension and other postretirement benefit plans are expected to be $13 million and $7 million, respectively, during 2023. Funding to the established pension trusts is based upon the actuarially determined costs of the plans and the requirements of the IRC, the Employee Retirement Income Security Act of 1974 and the Pension Protection Act of 2006, as amended. The Company considers contributing additional amounts from time to time in order to achieve certain funding levels specified under the Pension Protection Act of 2006, as amended. The Company evaluates a variety of factors, including funded status, income tax laws and regulatory requirements, in determining contributions to its other postretirement benefit plans. The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Other Pension Postretirement 2023 $ 192 $ 53 2024 184 53 2025 180 53 2026 177 52 2027 172 52 2028-2032 782 235 Plan Assets Investment Policy and Asset Allocations The Company's investment policy for its pension and other postretirement benefit plans is to balance risk and return through a diversified portfolio of debt securities, equity securities and other alternative investments. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The plans retain outside investment consultants to advise on plan investments within the parameters outlined by the Berkshire Hathaway Energy Company Investment Committee. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. The target allocations (percentage of plan assets) for the Company's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Other Pension Postretirement % % PacifiCorp: Debt securities (1) 73 77 Equity securities (1) 22 23 Limited partnership interests 5 0 MidAmerican Energy: Debt securities (1) 40-70 20-40 Equity securities (1) 35-60 60-80 Other 0-15 0-5 NV Energy: Debt securities (1) 65-80 68-89 Equity securities (1) 20-35 11-32 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. Fair Value Measurements The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ — $ 51 $ 51 Debt securities: U.S. government obligations 109 — 109 Corporate obligations — 613 613 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 81 81 Equity securities: U.S. companies 198 — 198 International companies 1 — 1 Total assets in the fair value hierarchy $ 308 $ 788 1,096 Investment funds (2) measured at net asset value 885 Limited partnership interests (3) measured at net asset value 32 Total assets measured at fair value $ 2,013 As of December 31, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: U.S. government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: U.S. companies 135 — 135 Total assets in the fair value hierarchy $ 277 $ 1,135 1,412 Investment funds (2) measured at net asset value 1,349 Limited partnership interests (3) measured at net asset value 34 Total assets measured at fair value $ 2,795 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 53% and 47%, respectively, for 2022 and 54% and 46%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 95% and 5%, respectively, for 2022 and 89% and 11%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ 15 $ 9 $ 24 Debt securities: U.S. government obligations 8 — 8 Corporate obligations — 52 52 Municipal obligations — 35 35 Agency, asset and mortgage-backed obligations — 49 49 Equity securities: U.S. companies 7 — 7 Investment funds (2) 307 — 307 Total assets in the fair value hierarchy $ 337 $ 145 482 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Total assets measured at fair value $ 614 As of December 31, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: U.S. government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: U.S. companies 4 — 4 Investment funds (2) 394 — 394 Total assets in the fair value hierarchy $ 437 $ 170 607 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Total assets measured at fair value $ 769 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 55% and 45%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 88% and 12%, respectively, for 2022 and 88% and 12%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. For level 1 investments, 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. For level 2 investments, the fair value is determined using pricing models based on observable market inputs. Shares of mutual funds not registered under the Securities Act of 1933, private equity limited partnership interests, common and commingled trust funds and investment entities are reported at fair value based on the net asset value per unit, which is used for expedience purposes. A fund's net asset value is based on the fair value of the underlying assets held by the fund less its liabilities. Foreign Operations Certain wholly-owned subsidiaries of Northern Powergrid participate in the Northern Powergrid group of the United Kingdom industry-wide Electricity Supply Pension Scheme (the "UK Plan"), which provides pension and other related defined benefits, based on final pensionable pay, to the employees of Northern Powergrid. The UK Plan is closed to employees hired after July 23, 1997. Employees hired after that date are covered by a defined contribution plan sponsored by a wholly-owned subsidiary of Northern Powergrid. Net Periodic Benefit Cost For purposes of calculating the expected return on pension plan assets, a market-related value is used. The market-related value of plan assets is calculated by including the difference between expected and actual investment returns after the first year in which they occur. Net periodic benefit (credit) cost for the UK Plan included the following components for the years ended December 31 (in millions): 2022 2021 2020 Service cost $ 14 $ 16 $ 16 Interest cost 35 31 40 Expected return on plan assets (92) (111) (101) Settlement — 10 17 Net amortization 24 55 43 Net periodic benefit (credit) cost $ (19) $ 1 $ 15 Funded Status The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): 2022 2021 Plan assets at fair value, beginning of year $ 2,363 $ 2,334 Employer contributions 15 28 Participant contributions 1 1 Actual return on plan assets (671) 148 Settlement — (51) Benefits paid (109) (72) Foreign currency exchange rate changes (236) (25) Plan assets at fair value, end of year $ 1,363 $ 2,363 The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): 2022 2021 Benefit obligation, beginning of year $ 2,003 $ 2,205 Service cost 14 16 Interest cost 35 31 Participant contributions 1 1 Actuarial gain (596) (105) Settlement — (51) Amendment 27 — Benefits paid (109) (72) Foreign currency exchange rate changes (200) (22) Benefit obligation, end of year $ 1,175 $ 2,003 Accumulated benefit obligation, end of year $ 1,060 $ 1,778 The funded status of the UK Plan and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): 2022 2021 Plan assets at fair value, end of year $ 1,363 $ 2,363 Benefit obligation, end of year 1,175 2,003 Funded status $ 188 $ 360 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 188 $ 360 Unrecognized Amounts The portion of the funded status of the UK Plan not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): 2022 2021 Net loss $ 499 $ 400 Prior service cost 30 5 Total $ 529 $ 405 A reconciliation of the amounts not yet recognized as components of net periodic benefit cost, which are included in accumulated other comprehensive loss on the Consolidated Balance Sheets, for the years ended December 31 is as follows (in millions): 2022 2021 Balance, beginning of year $ 405 $ 618 Net loss (gain) arising during the year 167 (143) Net prior service cost arising during the year 27 — Settlement — (10) Net amortization (24) (55) Foreign currency exchange rate changes (46) (5) Total 124 (213) Balance, end of year $ 529 $ 405 Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: 2022 2021 2020 Benefit obligations as of December 31: Discount rate 4.80 % 1.95 % 1.40 % Rate of compensation increase 3.20 % 3.45 % 3.05 % Rate of future price inflation 2.95 % 2.95 % 2.55 % Net periodic benefit cost for the years ended December 31: Discount rate 1.95 % 1.40 % 2.10 % Expected return on plan assets 4.40 % 4.85 % 5.00 % Rate of compensation increase 3.45 % 3.05 % 3.30 % Rate of future price inflation 2.95 % 2.55 % 2.80 % Contributions and Benefit Payments Employer contributions to the UK Plan are expected to be £11 million during 2023. The expected benefit payments to participants in the UK Plan for 2023 through 2027 and for the five years thereafter, excluding lump sum settlement elections and using the foreign currency exchange rate as of December 31, 2022, are summarized below (in millions): 2023 $ 67 2024 69 2025 70 2026 72 2027 74 2028-2032 398 Plan Assets Investment Policy and Asset Allocations The investment policy for the UK Plan is to balance risk and return through a diversified portfolio of debt securities, equity securities, real estate and other asset classes. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The UK Plan retains outside investment advisors to manage plan investments within the parameters set by the trustees of the UK Plan in consultation with Northern Powergrid. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. The return on assets assumption is based on a weighted-average of the expected historical performance for the types of assets in which the UK Plan invests. The target allocations (percentage of plan assets) for the UK Plan assets are as follows as of December 31, 2022: % Debt securities (1) 60-70 Equity securities (1) 10-20 Real estate funds and other 15-25 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities. Fair Value Measurements The following table presents the fair value of the UK Plan assets, by major category (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 1 $ 29 $ — $ 30 Debt securities: United Kingdom government obligations 711 — — 711 Equity securities: Investment funds (2) — 312 — 312 Real estate funds — — 214 214 Total $ 712 $ 341 $ 214 1,267 Investment funds (2) measured at net asset value 96 Total assets measured at fair value $ 1,363 As of December 31, 2021: Cash equivalents $ 5 $ 27 $ — $ 32 Debt securities: United Kingdom government obligations 1,308 — — 1,308 Equity securities: Investment funds (2) — 646 — 646 Real estate funds — — 269 269 Total $ 1,313 $ 673 $ 269 2,255 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,363 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 25% and 75%, respectively, for 2022 and 23% and 77%, respectively, for 2021. The fair value of the UK Plan's assets are determined similar to the plan assets of the domestic plans as previously discussed. The following table reconciles the beginning and ending balances of the UK Plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): Real Estate Funds 2022 2021 2020 Beginning balance $ 269 $ 237 $ 243 Actual return on plan assets still held at period end (27) 35 (13) Foreign currency exchange rate changes (28) (3) 7 Ending balance $ 214 $ 269 $ 237 Defined Contribution Plans The Company sponsors various defined contribution plans covering substantially all employees. The Company's contributions vary depending on the plan, but matching contributions are based on each participant's level of contribution, and certain participants receive contributions based on eligible pre-tax annual compensation. Contributions cannot exceed the maximum allowable for tax purposes. The Company's contributions to these plans were $159 million, $137 million and $127 million for the years ended December 31, 2022, 2021 and 2020, respectively. |
PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans PacifiCorp sponsors defined benefit pension and other postretirement benefit plans that cover certain of its employees, as well as a defined contribution 401(k) employee savings plan ("401(k) Plan"). In addition, PacifiCorp contributes to a joint trustee pension plan and a subsidiary previously contributed to a multiemployer pension plan for benefits offered to certain bargaining units. Defined Benefit Plans PacifiCorp's pension plans include non-contributory defined benefit pension plans, collectively the PacifiCorp Retirement Plan ("Retirement Plan"), and the Supplemental Executive Retirement Plan ("SERP"). The Retirement Plan is closed to all non-union employees hired after January 1, 2008. All non-union Retirement Plan participants hired prior to January 1, 2008 that did not elect to receive equivalent fixed contributions to the 401(k) Plan effective January 1, 2009 earned benefits based on a cash balance formula through December 31, 2016. Effective January 1, 2017, non-union employee participants with a cash balance benefit in the Retirement Plan are no longer eligible to receive pay credits in their cash balance formula. In general for union employees, benefits under the Retirement Plan were frozen at various dates from December 31, 2007 through December 31, 2011 as they are now being provided with enhanced 401(k) Plan benefits. However, certain limited union Retirement Plan participants continue to earn benefits under the Retirement Plan based on the employee's years of service and a final average pay formula. The SERP was closed to new participants as of March 21, 2006 and froze future accruals for active participants as of December 31, 2014. PacifiCorp's other postretirement benefit plan provides healthcare and life insurance benefits to eligible retirees. Pension Settlement Pension settlement accounting was triggered in 2022 and 2021 as a result of the amount of lump sum distributions in the Retirement Plan exceeding the service and interest cost threshold. The 2021 pension settlement accounting included an interim July 31, 2021 remeasurement of the pension plan assets and projected benefit obligation. As a result of the settlement accounting, PacifiCorp recognized settlement losses of $6 million, net of regulatory deferrals during each of the years ended December 31, 2022 and 2021. Net Periodic Benefit Cost For purposes of calculating the expected return on plan assets, a market-related value is used. The market-related value of plan assets is calculated by spreading the difference between expected and actual investment returns over a five-year period beginning after the first year in which they occur. Net periodic benefit cost (credit) for the plans included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ — $ — $ — $ 2 $ 2 $ 2 Interest cost 29 29 36 8 7 9 Expected return on plan assets (42) (51) (56) (11) (9) (14) Settlement (1) 6 6 — — — — Net amortization 16 21 18 1 1 3 Net periodic benefit cost (credit) $ 9 $ 5 $ (2) $ — $ 1 $ — (1) Pension amounts represent settlement losses of $24 million and $15 million net of deferrals of $18 million and $9 million during the years ended December 31, 2022 and 2021. Funded Status The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 1,058 $ 1,064 $ 324 $ 327 Employer contributions (1) 4 5 — 1 Participant contributions — — 5 6 Actual (loss) return on plan assets (172) 109 (42) 14 Settlement (2) (67) (52) — — Benefits paid (65) (68) (23) (24) Plan assets at fair value, end of year $ 758 $ 1,058 $ 264 $ 324 (1) Pension amounts represent employer contributions to the SERP. (2) Benefits paid in the form of lump sum distributions that gave rise to the settlement accounting described above. The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 1,048 $ 1,202 $ 288 $ 307 Service cost — — 2 2 Interest cost 29 29 8 7 Participant contributions — — 5 6 Actuarial gain (199) (63) (61) (10) Settlement (1) (67) (52) — — Benefits paid (65) (68) (23) (24) Benefit obligation, end of year $ 746 $ 1,048 $ 219 $ 288 Accumulated benefit obligation, end of year $ 746 $ 1,048 (1) Benefits paid in the form of lump sum distributions that gave rise to the settlement accounting described above. The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 758 $ 1,058 $ 264 $ 324 Less - Benefit obligation, end of year 746 1,048 219 288 Funded status $ 12 $ 10 $ 45 $ 36 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 53 $ 63 $ 45 $ 36 Accrued employee expenses (4) (4) — — Other long-term liabilities (37) (49) — — Amounts recognized $ 12 $ 10 $ 45 $ 36 The SERP has no plan assets; however, PacifiCorp has a Rabbi trust that holds corporate-owned life insurance and other investments to provide funding for the future cash requirements of the SERP. The cash surrender value of all of the policies included in the Rabbi trust, net of amounts borrowed against the cash surrender value, plus the fair market value of other Rabbi trust investments, was $61 million and $69 million as of December 31, 2022 and 2021, respectively. These assets are not included in the plan assets in the above table, but are reflected in noncurrent other assets as of December 31, 2022 and 2021, respectively, on the Consolidated Balance Sheets. The projected and accumulated benefit obligations for the SERP were $42 million and $54 million at December 31, 2022 and 2021, respectively. As of December 31, 2022, the fair value of the plan assets for the Retirement Plan was in excess of both the projected benefit obligation and the accumulated benefit obligation. Unrecognized Amounts The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ 273 $ 298 $ (36) $ (28) Regulatory deferrals (1) 29 11 1 2 Total $ 302 $ 309 $ (35) $ (26) (1) Pension amounts represent the unamortized portion of deferred settlement losses. A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Accumulated Other Regulatory Comprehensive Asset Loss Total Pension Balance, December 31, 2020 $ 432 $ 25 $ 457 Net gain arising during the year (120) (1) (121) Net amortization (20) (1) (21) Settlement (6) — (6) Total (146) (2) (148) Balance, December 31, 2021 286 23 309 Net loss (gain) arising during the year 24 (9) 15 Net amortization (14) (2) (16) Settlement (6) — (6) Total 4 (11) (7) Balance, December 31, 2022 $ 290 $ 12 $ 302 Regulatory Liability Other Postretirement Balance, December 31, 2020 $ (10) Net gain arising during the year (15) Net amortization (1) Total (16) Balance, December 31, 2021 (26) Net gain arising during the year (8) Net amortization (1) Total (9) Balance, December 31, 2022 $ (35) Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.55 % 2.90 % 2.50 % 5.50 % 2.90 % 2.50 % Rate of compensation increase N/A N/A N/A N/A N/A N/A Interest crediting rates for cash balance plan - non-union 2020 N/A N/A 2.27 % N/A N/A N/A 2021 N/A 0.82 % 0.82 % N/A N/A N/A 2022 0.88 % 0.88 % 0.82 % N/A N/A N/A 2023 4.73 % 0.88 % 2.00 % N/A N/A N/A 2024 4.73 % 1.90 % 2.00 % N/A N/A N/A 2025 and beyond 2.60 % 1.90 % 2.00 % N/A N/A N/A Interest crediting rates for cash balance plan - union 2020 N/A N/A 2.16 % N/A N/A N/A 2021 N/A 1.42 % 1.42 % N/A N/A N/A 2022 1.94 % 1.94 % 1.42 % N/A N/A N/A 2023 3.55 % 1.94 % 2.40 % N/A N/A N/A 2024 3.55 % 2.30 % 2.40 % N/A N/A N/A 2025 and beyond 2.40 % 2.30 % 2.40 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.90 % 2.50 % 3.25 % 2.90 % 2.50 % 3.20 % Expected return on plan assets 4.70 6.00 6.50 3.44 2.90 4.92 In establishing its assumption as to the expected return on plan assets, PacifiCorp utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. As a result of a plan amendment effective on January 1, 2017, the benefit obligation for the Retirement Plan is no longer affected by future increases in compensation. As a result of a labor settlement reached with UMWA in December 2014, the benefit obligation for the other postretirement plan is no longer affected by healthcare cost trends. Contributions and Benefit Payments Employer contributions to the pension and other postretirement benefit plans are expected to be $4 million and $— million, respectively, during 2023. Funding to PacifiCorp's Retirement Plan trust is based upon the actuarially determined costs of the plan and the requirements of the Internal Revenue Code, the Employee Retirement Income Security Act of 1974 ("ERISA") and the Pension Protection Act of 2006, as amended ("PPA of 2006"). PacifiCorp considers contributing additional amounts from time to time in order to achieve certain funding levels specified under the PPA of 2006. PacifiCorp evaluates a variety of factors, including funded status, income tax laws and regulatory requirements, in determining contributions to its other postretirement benefit plan. The expected benefit payments to participants in PacifiCorp's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2023 $ 76 $ 23 2024 73 22 2025 70 21 2026 67 20 2027 64 20 2028-2032 277 87 Plan Assets Investment Policy and Asset Allocations PacifiCorp's investment policy for its pension and other postretirement benefit plans is to balance risk and return through a diversified portfolio of debt securities, equity securities and other alternative investments. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The plans retain outside investment consultants to advise on plan investments within the parameters outlined by the Berkshire Hathaway Energy Company Investment Committee. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. In 2020, the assets of the PacifiCorp Master Retirement Trust were transferred into the BHE Master Retirement Trust. The target allocations (percentage of plan assets) for PacifiCorp's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Pension (1) Other Postretirement (1) % % Debt securities (2) 73 77 Equity securities (2) 22 23 Other 5 0 (1) The trust in which the PacifiCorp Retirement Plan is invested includes a separate account that is used to fund benefits for the other postretirement benefit plan. In addition to this separate account, the assets for the other postretirement benefit plan are held in Voluntary Employees' Beneficiary Association ("VEBA") trusts, each of which has its own investment allocation strategies. Target allocations for the other postretirement benefit plan include the separate account of the Retirement Plan trust and the VEBA trusts. (2) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. Fair Value Measurements The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash equivalents $ — $ 10 $ — $ 10 Debt securities: U.S. government obligations 41 — — 41 Corporate obligations — 211 — 211 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 34 — 34 Equity securities: U.S. companies 69 — — 69 Total assets in the fair value hierarchy $ 110 $ 270 $ — $ 380 Investment funds (2) measured at net asset value 346 Limited partnership interests (3) measured at net asset value 32 Investments at fair value $ 758 As of December 31, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: U.S. companies 61 — — 61 Total assets in the fair value hierarchy $ 112 $ 374 $ — $ 486 Investment funds (2) measured at net asset value 538 Limited partnership interests (3) measured at net asset value 34 Investments at fair value $ 1,058 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 50% and 50%, respectively, for 2022 and 59% and 41%, respectively, for 2021, and are invested in U.S. and international securities of approximately 90% and 10%, respectively, for 2022 and 84% and 16%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate. The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash and cash equivalents $ 5 $ 5 $ — $ 10 Debt securities: U.S. government obligations 6 — — 6 Corporate obligations — 49 — 49 Municipal obligations — 13 — 13 Agency, asset and mortgage-backed obligations — 47 — 47 Equity securities: U.S. companies 7 — — 7 Total assets in the fair value hierarchy $ 18 $ 114 $ — 132 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Investments at fair value $ 264 As of December 31, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: U.S. government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: U.S. companies 4 — — 4 Total assets in the fair value hierarchy $ 32 $ 130 $ — 162 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Investments at fair value $ 324 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 41% and 59%, respectively, for 2022 and 39% and 61%, respectively, for 2021, and are invested in U.S. and international securities of approximately 91% and 9%, respectively, for 2022 and 90% and 10%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. For level 1 investments, 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. For level 2 investments, the fair value is determined using pricing models based on observable market inputs. Shares of mutual funds not registered under the Securities Act of 1933, private equity limited partnership interests, common and commingled trust funds and investment entities are reported at fair value based on the net asset value per unit, which is used for expedience purposes. A fund's net asset value is based on the fair value of the underlying assets held by the fund less its liabilities. Multiemployer and Joint Trustee Pension Plans PacifiCorp contributes to the PacifiCorp/IBEW Local 57 Retirement Trust Fund ("Local 57 Trust Fund") (plan number 001) and its subsidiary, Energy West Mining Company, previously contributed to the UMWA 1974 Pension Plan (plan number 002). Contributions to these pension plans are based on the terms of collective bargaining agreements. As a result of the Utah Mine Disposition and UMWA labor settlement, PacifiCorp's subsidiary, Energy West Mining Company, triggered involuntary withdrawal from the UMWA 1974 Pension Plan in June 2015 when the UMWA employees ceased performing work for the subsidiary. PacifiCorp recorded its estimate of the withdrawal obligation in December 2014 when withdrawal was considered probable and deferred the portion of the obligation considered probable of recovery to a regulatory asset. PacifiCorp has subsequently revised its estimate due to changes in facts and circumstances for a withdrawal occurring by July 2015. As communicated in a letter received in August 2016, the plan trustees determined a withdrawal liability of $115 million. Energy West Mining Company began making installment payments in November 2016 and has the option to elect a lump sum payment to settle the withdrawal obligation. The ultimate amount paid by Energy West Mining Company to settle the obligation is dependent on a variety of factors, including the results of ongoing negotiations with the plan trustees. The Local 57 Trust Fund is a joint trustee plan such that the board of trustees is represented by an equal number of trustees from PacifiCorp and the union. The Local 57 Trust Fund was established pursuant to the provisions of the Taft-Hartley Act and although formed with the ability for other employers to participate in the plan, there are no other employers that participate in this plan. The risk of participating in multiemployer pension plans generally differs from single-employer plans in that assets are pooled such that contributions by one employer may be used to provide benefits to employees of other participating employers and plan assets cannot revert to employers. If an employer ceases participation in the plan, the employer may be obligated to pay a withdrawal liability based on the participants' unfunded, vested benefits in the plan. This occurred as a result of Energy West Mining Company's withdrawal from the UMWA 1974 Pension Plan. If participating employers withdraw from a multiemployer plan, the unfunded obligations of the plan may be borne by the remaining participating employers. The following table presents PacifiCorp's participation in individually significant joint trustee and multiemployer pension plans for the years ended December 31 (dollars in millions): PPA of 2006 zone status or Contributions Plan name Employer Identification Number 2022 2021 2020 Funding improvement plan Surcharge imposed under PPA of 2006 2022 2021 2020 Year contributions to plan exceeded more than 5% of total contributions Local 57 Trust Fund 87-0640888 At least 80% At least 80% At least 80% None None $ 6 $ 6 $ 6 2022, 2021, 2020 PacifiCorp's minimum contributions to the Local 57 Trust Fund are based on the amount of wages paid to employees covered by the Local 57 Trust Fund collective bargaining agreements, subject to ERISA minimum funding requirements. The collective bargaining agreements governing the Local 57 Trust Fund that were due to expire in 2023 were extended to 2028 in December 2022. Defined Contribution Plan PacifiCorp's 401(k) Plan covers substantially all employees. PacifiCorp's matching contributions are based on each participant's level of contribution and, as of January 1, 2022, all participants receive contributions based on eligible pre-tax annual compensation. Contributions cannot exceed the maximum allowable for tax purposes. PacifiCorp's contributions to the 401(k) Plan were $44 million, $40 million and $41 million for the years ended December 31, 2022, 2021 and 2020, respectively. |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Defined Benefit Plan 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. Benefit obligations under the plan are based on a cash balance arrangement for salaried employees and most union employees and final average pay formulas for other union employees. MidAmerican Energy also maintains noncontributory, nonqualified defined benefit supplemental executive retirement plans ("SERP") for certain active and retired participants. For the years ended December 31, 2022 and 2021, the defined benefit pension plan recorded a settlement loss of $4 million and a settlement gain of $5 million, respectively, for previously unrecognized losses and gains as a result of excess lump sum distributions over the defined threshold. In 2022, the defined benefit pension plan recorded a curtailment gain of $10 million as a result of certain plan amendments. 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. Under the plans, a majority of all employees of the participating companies may become eligible for these benefits if they reach retirement age. New employees are not eligible for benefits under the plans. MidAmerican Energy has been allowed to recover accrued pension and other postretirement benefit costs in its electric and gas service rates. Net Periodic Benefit Cost For purposes of calculating the expected return on pension plan assets, a market-related value is used. The market-related value of plan assets is calculated by spreading the difference between expected and actual investment returns on equity investments over a five-year period beginning after the first year in which they occur. MidAmerican Energy bills to and is reimbursed currently for affiliates' share of the net periodic benefit costs from all plans in which such affiliates participate. In 2022, 2021 and 2020, MidAmerican Energy's share of the pension net periodic benefit (credit) cost was $(2) million, $(20) million and $(13) million, respectively. MidAmerican Energy's share of the other postretirement net periodic benefit (credit) cost in 2022, 2021 and 2020 totaled $(2) million, $1 million and $(5) million, respectively. Net periodic benefit cost (credit) for the plans of MidAmerican Energy and the aforementioned affiliates included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ 15 $ 20 $ 8 $ 8 $ 9 $ 4 Interest cost 23 22 25 8 8 7 Expected return on plan assets (27) (37) (40) (14) (10) (14) Curtailment (10) — — — — — Settlement 4 (5) — — — — Net amortization 1 1 1 (2) (4) (5) Net periodic benefit cost (credit) $ 6 $ 1 $ (6) $ — $ 3 $ (8) Funded Status The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 704 $ 718 $ 308 $ 278 Employer contributions 7 8 3 10 Participant contributions — — 1 1 Actual return on plan assets (130) 58 (58) 34 Settlement (57) (46) — — Benefits paid (34) (34) (14) (15) Plan assets at fair value, end of year $ 490 $ 704 $ 240 $ 308 The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 781 $ 845 $ 285 $ 304 Service cost 15 20 8 9 Interest cost 23 22 8 8 Participant contributions — — 1 1 Actuarial (gain) loss (129) (25) (64) (18) Amendment (3) — 19 1 Curtailment (10) — — — Settlement (57) (46) — — Acquisition — (1) — (5) Benefits paid (34) (34) (14) (15) Benefit obligation, end of year $ 586 $ 781 $ 243 $ 285 Accumulated benefit obligation, end of year $ 551 $ 721 The funded status of the plans and the amounts recognized on the Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 490 $ 704 $ 240 $ 308 Less - Benefit obligation, end of year 586 781 243 285 Funded status $ (96) $ (77) $ (3) $ 23 Amounts recognized on the Balance Sheets: Other assets $ — $ 34 $ — $ 23 Other current liabilities (8) (7) — — Other long-term liabilities (88) (104) (3) — Amounts recognized $ (96) $ (77) $ (3) $ 23 The SERP has no plan assets; however, MidAmerican Energy and BHE have Rabbi trusts that hold corporate-owned life insurance and other investments to provide funding for the future cash requirements of the SERP. The cash surrender value of all of the policies included in MidAmerican Energy's Rabbi trusts, net of amounts borrowed against the cash surrender value, plus the fair market value of other Rabbi trust investments, was $134 million and $143 million as of December 31, 2022 and 2021, respectively. These assets are not included in the plan assets in the above table, but are reflected in investments and restricted investments on the Balance Sheets. The accumulated benefit obligation and projected benefit obligation for the SERP was $85 million and $85 million for 2022 and $111 million and $111 million for 2021, respectively. Unrecognized Amounts The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ (4) $ (25) $ 11 $ 2 Prior service cost (credit) (3) — 19 (3) Total $ (7) $ (25) $ 30 $ (1) MidAmerican Energy sponsors pension and other postretirement benefit plans on behalf of certain of its affiliates in addition to itself, and therefore, the portion of the funded status of the respective plans that has not yet been recognized in net periodic benefit cost is attributable to multiple entities. Additionally, substantially all of MidAmerican Energy's portion of such amounts is either refundable to or recoverable from its customers and is reflected as regulatory liabilities and regulatory assets. A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Regulatory Asset Regulatory Liability Receivables (Payables) with Affiliates Total Pension Balance, December 31, 2020 $ 21 $ (20) $ 17 $ 18 Net loss (gain) arising during the year 2 (40) (9) (47) Settlement — 5 — 5 Net amortization (1) — — (1) Total 1 (35) (9) (43) Balance, December 31, 2021 22 (55) 8 (25) Net loss (gain) arising during the year (7) 58 (25) 26 Net prior service cost (credit) arising during the year — — (3) (3) Settlement — (4) — (4) Net amortization (1) — — (1) Total (8) 54 (28) 18 Balance, December 31, 2022 $ 14 $ (1) $ (20) $ (7) Regulatory Receivables (Payables) with Affiliates Total Other Postretirement Balance, December 31, 2020 $ 45 $ (9) $ 36 Net loss (gain) arising during the year (29) (13) (42) Net prior service cost (credit) arising during the year 1 — 1 Net amortization 3 1 4 Total (25) (12) (37) Balance, December 31, 2021 20 (21) (1) Net loss (gain) arising during the year 10 (1) 9 Net prior service cost (credit) arising during the year — 19 19 Net amortization 3 — 3 Total 13 18 31 Balance, December 31, 2022 $ 33 $ (3) $ 30 Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.70 % 3.05 % 2.75 % 5.60 % 2.95 % 2.65 % Rate of compensation increase 3.00 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2020 N/A N/A 2.27 % N/A N/A N/A 2021 N/A 1.19 % 0.99 % N/A N/A N/A 2022 3.74 % 1.19 % 0.99 % N/A N/A N/A 2023 3.74 % 1.19 % 0.99 % N/A N/A N/A 2024 3.74 % 1.19 % 0.99 % N/A N/A N/A 2025 and beyond 3.74 % 1.19 % 0.99 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 3.05 % 2.75 % 3.40 % 2.95 % 2.65 % 3.20 % Expected return on plan assets (1) 4.30 % 5.60 % 6.25 % 5.30 % 4.00 % 6.00 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 3.74 % 1.19 % 2.27 % N/A N/A N/A (1) Amounts reflected are pretax values. Assumed after-tax returns for a taxable, non-union other postretirement plan were 4.21% for 2022, 2.39% for 2021 and 4.62% for 2020. In establishing its assumption as to the expected return on plan assets, MidAmerican Energy utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. 2022 2021 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.50 % 5.90 % Rate that the cost trend rate gradually declines to 5.00 % 5.00 % Year that the rate reaches the rate it is assumed to remain at 2028 2025 Contributions and Benefit Payments Employer contributions to the pension and other postretirement benefit plans are expected to be $7 million and $2 million, respectively, during 2022. Funding to MidAmerican Energy's qualified pension benefit plan trust is based upon the actuarially determined costs of the plan and the requirements of the Internal Revenue Code, the Employee Retirement Income Security Act of 1974 and the Pension Protection Act of 2006, as amended. MidAmerican Energy considers contributing additional amounts from time to time in order to achieve certain funding levels specified under the Pension Protection Act of 2006, as amended. MidAmerican Energy evaluates a variety of factors, including funded status, income tax laws and regulatory requirements, in determining contributions to its other postretirement benefit plans. Net periodic benefit costs assigned to MidAmerican Energy affiliates are reimbursed currently in accordance with its intercompany administrative services agreement. The expected benefit payments to participants in MidAmerican Energy's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2023 $ 59 $ 21 2024 54 22 2025 53 23 2026 53 23 2027 51 23 2028-2032 231 105 Plan Assets Investment Policy and Asset Allocations MidAmerican Energy's investment policy for its pension and other postretirement benefit plans is to balance risk and return through a diversified portfolio of debt securities, equity securities and other alternative investments. Maturities for debt securities are managed to targets consistent with prudent risk tolerances. The plans retain outside investment consultants to advise on plan investments within the parameters outlined by the Berkshire Hathaway Energy Company Investment Committee. The investment portfolio is managed in line with the investment policy with sufficient liquidity to meet near-term benefit payments. The target allocations (percentage of plan assets) for MidAmerican Energy's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Pension Other Postretirement % % Debt securities (1) 40-70 20-40 Equity securities (1) 35-60 60-80 Other 0-15 0-5 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. Fair Value Measurements The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 22 — — 22 Corporate obligations — 135 — 135 Municipal obligations — 10 — 10 Agency, asset and mortgage-backed obligations — 13 — 13 Equity securities: U.S. companies 71 — — 71 International companies 1 — — 1 Total assets in the fair value hierarchy $ 94 $ 173 $ — 267 Investment funds (2) measured at net asset value 223 Total assets measured at fair value $ 490 As of December 31, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: U.S. government obligations 33 — — 33 Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: U.S. companies 35 — — 35 Total assets in the fair value hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 56% and 44%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 97% and 3%, respectively, for 2022 and 90% and 10%, respectively, for 2021. The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 10 $ — $ — $ 10 Debt securities: U.S. government obligations 2 — — 2 Corporate obligations — 3 — 3 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 2 — 2 Equity securities: Investment funds (2) 201 — — 201 Total assets measured at fair value $ 213 $ 27 $ — $ 240 As of December 31, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: U.S. government obligations 3 — — 3 Corporate obligations — 6 — 6 Municipal obligations — 28 — 28 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 260 — — 260 Total assets measured at fair value $ 271 $ 37 $ — $ 308 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 82% and 18%, respectively, for 2022 and 2021. Additionally, these funds are invested in U.S. and international securities of approximately 82% and 18%, respectively, for 2022 and for 2021. For level 1 investments, 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. For level 2 investments, the fair value is determined using pricing models based on observable market inputs. Shares of mutual funds not registered under the Securities Act of 1933, private equity limited partnership interests, common and commingled trust funds and investment entities are reported at fair value based on the net asset value per unit, which is used for expedience purposes. A fund's net asset value is based on the fair value of the underlying assets held by the fund less its liabilities. Defined Contribution Plan MidAmerican Energy sponsors a defined contribution plan ("401(k) plan") covering substantially all employees. MidAmerican Energy's matching contributions are based on each participant's level of contribution, and certain participants receive contributions based on eligible pretax annual compensation. Contributions cannot exceed the maximum allowable for tax purposes. Certain participants now receive enhanced benefits in the 401(k) plan and no longer accrue benefits in the noncontributory defined benefit pension plans. MidAmerican Energy's contributions to the plan were $33 million, $27 million, and $26 million for the years ended December 31, 2022, 2021 and 2020, respectively. |
MidAmerican Funding, LLC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans Refer to Note 10 of MidAmerican Energy's Notes to Financial Statements for additional information regarding MidAmerican Funding's pension, supplemental retirement and postretirement benefit plans. Pension and postretirement costs allocated by MidAmerican Funding to its parent and other affiliates in each of the years ended December 31, were as follows (in millions): 2022 2021 2020 Pension costs $ 8 $ 21 $ 7 Other postretirement costs 1 2 (3) |
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. Nevada Power did not make any contributions to the Qualified Pension Plan for the years ended December 31, 2022, 2021 and 2020. Nevada Power contributed $1 million to the Non-Qualified Pension Plans for the years ended December 31, 2022, 2021 and 2020. Nevada Power did not make any contributions to the Other Postretirement Plans for the years ended December 31, 2022, 2021 and 2020. 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 as of December 31 (in millions): 2022 2021 Qualified Pension Plan - Other non-current assets $ 27 $ 42 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (8) Other Postretirement Plans - Other non-current assets 7 8 |
SPPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansSierra 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 did not make any contributions to the Qualified Pension Plan for the years ended December 31, 2022, 2021 and 2020. Sierra Pacific contributed $1 million to the Non-Qualified Pension Plans for the years ended December 31, 2022, 2021 and 2020. Sierra Pacific contributed $5 million and $1 million to the Other Post Retirement Plans for the years ended December 31, 2022 and 2021, respectively. Sierra Pacific did not make any contributions to the Other Post Retirement Plans for the year ended December 31, 2020. 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 as of December 31 (in millions): 2022 2021 Qualified Pension Plan - Other non-current assets $ 43 $ 62 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (7) Other Postretirement Plans - Other long-term liabilities (2) (10) |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit PlansAs discussed in Note 3, in November 2020, the GT&S Transaction was completed and the assets and obligations of the pension and other postretirement employee benefit plans associated with the operations sold and relating to services provided before closing were retained by DEI. As a result, just prior to completing the sale, net benefit plan assets of $895 million were distributed through an equity transaction with DEI. Subsequent to the GT&S Transaction Subsequent to the GT&S Transaction, Eastern Energy Gas is a participant in benefit plans sponsored by MidAmerican Energy Company ("MidAmerican Energy"), an affiliate. The MidAmerican Energy Company Retirement Plan includes a qualified pension plan ("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 ("Other Postretirement Plans") on behalf of Eastern Energy Gas. Eastern Energy Gas made $14 million, $18 million and $3 million of contributions to the MidAmerican Energy Company Retirement Plan for the years ended December 31, 2022, 2021 and 2020, respectively. Eastern Energy Gas made $2 million, $10 million and $2 million of contributions to the MidAmerican Energy Company Welfare Benefit Plan for the years ended December 31, 2022, 2021 and 2020, respectively. Contributions related to these plans are reflected as net periodic benefit cost in operations and maintenance expense in the Consolidated Statements of Operations. Amounts attributable to Eastern Energy Gas were allocated from MidAmerican Energy in accordance with the intercompany administrative service agreement. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. Eastern Energy Gas participates in the BHE GT&S, LLC ("BHE GT&S") defined contribution employee savings plan subsequent to the GT&S Transaction. Eastern Energy Gas' matching contributions are based on each participant's level of contribution. Contributions cannot exceed the maximum allowable for tax purposes. Eastern Energy Gas' contributions to the 401(k) plan were $6 million, $5 million and $1 million for the years ended December 31, 2022, 2021 and 2020, respectively. Prior to the GT&S Transaction Defined Benefit Plans Prior to the GT&S Transaction, certain Eastern Energy Gas employees not represented by collective bargaining units were covered by the Dominion Energy Pension Plan, a defined benefit pension plan sponsored by DEI that provides benefits to multiple DEI subsidiaries. As participating employers, Eastern Energy Gas was subject to DEI's funding policy, which was to contribute annually an amount that is in accordance with the Employee Retirement Income Security Act of 1974. Eastern Energy Gas' net periodic pension credit related to this plan was $14 million for the year ended December 31, 2020. Net periodic pension credit is reflected in other operations and maintenance expense in the Consolidated Statement of Operations. The funded status of various DEI subsidiary groups and employee compensation are the basis for determining the share of total pension costs for participating DEI subsidiaries. Prior to the GT&S Transaction, certain retiree healthcare and life insurance benefits for Eastern Energy Gas employees not represented by collective bargaining units were covered by the Dominion Energy Retiree Health and Welfare Plan, a plan sponsored by DEI that provides certain retiree healthcare and life insurance benefits to multiple DEI subsidiaries. Eastern Energy Gas' net periodic benefit credit related to this plan was $5 million for the year ended December 31, 2020. Net periodic benefit credit is reflected in other operations and maintenance expense in the Consolidated Statement of Operations. Employee headcount is the basis for determining the share of total other postretirement benefit costs for participating DEI subsidiaries. Pension benefits for Eastern Energy Gas employees represented by collective bargaining units were covered by a separate pension plan that provides benefits to employees of both EGTS and Hope Gas, Inc. ("Hope"). Employee compensation was the basis for allocating pension costs and obligations between EGTS and Hope. Retiree healthcare and life insurance benefits for Eastern Energy Gas employees represented by collective bargaining units were covered by a separate other postretirement benefit plan that provides benefits to both EGTS and Hope. Employee headcount was the basis for allocating other postretirement benefit costs and obligations between EGTS and Hope. Pension Remeasurement In the third quarter of 2020, Eastern Energy Gas remeasured a pension plan due to a curtailment resulting from the agreement for DEI to retain the assets and obligations of the pension benefit plan associated with the GT&S Transaction. The remeasurement resulted in an increase in the pension benefit obligation of $3 million and a decrease in the fair value of the pension plan assets of $7 million for Eastern Energy Gas. The impact of the remeasurement on net periodic pension benefit credit was recognized prospectively from the remeasurement date and was not material. The discount rate used for the remeasurement was 3.16%. All other assumptions used for the remeasurement were consistent with the measurement as of December 31, 2019. Net Periodic Benefit Credit Net periodic benefit credit for the plans included the following components for the year ended December 31, 2020 (in millions): Pension Other Postretirement Service cost $ 5 $ 1 Interest cost 8 4 Expected return on plan assets (47) (16) Net amortization 5 (3) Net periodic benefit credit $ (29) $ (14) Significant assumptions used to determine periodic credits for the year ended December 31, 2020: Pension Other Postretirement Discount rate 3.16% - 3.63% 3.44 % Expected long-term rate of return on plan assets 8.60 % 8.50 % Weighted average rate of increase for compensation 4.73 % N/A Healthcare cost trend rate 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % Year that the rate reached the ultimate trend rate 2026 Defined Contribution Plans Eastern Energy Gas participated in the DEI defined contribution employee savings plans prior to the GT&S Transaction. Eastern Energy Gas' matching contributions were based on each participant's level of contribution. Contributions could not exceed the maximum allowable for tax purposes. Eastern Energy Gas' contributions to the 401(k) plan were $3 million for the year ended December 31, 2020. |
EGTS | |
Defined Benefit Plan Disclosure [Line Items] | |
Employee Benefit Plans | Employee Benefit Plans As discussed in Note 3, in November 2020, the GT&S Transaction was completed and the assets and obligations of the pension and other postretirement employee benefit plans associated with the operations sold and relating to services provided before closing were retained by DEI. As a result, just prior to completing the sale, net benefit plan assets of $904 million were distributed through an equity transaction with DEI. Subsequent to the GT&S Transaction Defined Benefit Plans Subsequent to the GT&S Transaction, EGTS is a participant in benefit plans sponsored by MidAmerican Energy, an affiliate. The MidAmerican Energy Company Retirement Plan includes a qualified pension plan that provides pension benefits for eligible employees. The MidAmerican Energy Company Welfare Benefit Plan provides certain postretirement health care and life insurance benefits for eligible retirees on behalf of EGTS. EGTS made $12 million, $16 million and $2 million of contributions to the MidAmerican Energy Company Retirement Plan for the years ended December 31, 2022, 2021 and 2020, respectively. EGTS made $2 million, $9 million and $2 million of contributions to the MidAmerican Energy Company Welfare Benefit Plan for the years ended December 31, 2022, 2021 and 2020, respectively. Contributions related to these plans are reflected as net periodic benefit cost in operations and maintenance expense in the Consolidated Statements of Operations. Amounts attributable to EGTS were allocated from MidAmerican Energy in accordance with the intercompany administrative service agreement. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Defined Contribution Plan EGTS participates in the BHE GT&S defined contribution employee savings plan subsequent to the GT&S Transaction. EGTS' matching contributions are based on each participant's level of contribution. Contributions cannot exceed the maximum allowable for tax purposes. EGTS' contributions to the 401(k) plan were $5 million and $4 million and $1 million for the years ended December 31, 2022, 2021 and 2020, respectively Prior to the GT&S Transaction Defined Benefit Plans Prior to the GT&S Transaction, certain EGTS employees not represented by collective bargaining units were covered by the Dominion Energy Pension Plan, a defined benefit pension plan sponsored by DEI that provides benefits to multiple DEI subsidiaries. As participating employers, EGTS was subject to DEI's funding policy, which was to contribute annually an amount that is in accordance with the Employee Retirement Income Security Act of 1974. EGTS' net periodic pension credit related to this plan was $17 million for the year ended December 31, 2020, reflected in operations and maintenance expense in the Consolidated Statement of Operations. The funded status of various DEI subsidiary groups and employee compensation are the basis for determining the share of total pension costs for participating DEI subsidiaries. Prior to the GT&S Transaction, certain retiree healthcare and life insurance benefits for EGTS employees not represented by collective bargaining units were covered by the Dominion Energy Retiree Health and Welfare Plan, a plan sponsored by DEI that provides certain retiree healthcare and life insurance benefits to multiple DEI subsidiaries. EGTS' net periodic benefit credit related to this plan was $5 million for the year ended December 31, 2020, reflected in operations and maintenance expense in the Consolidated Statement of Operations. Employee headcount is the basis for determining the share of total other postretirement benefit costs for participating DEI subsidiaries. Pension benefits for EGTS employees represented by collective bargaining units were covered by a separate pension plan that provides benefits to employees of both EGTS and Hope Gas, Inc. ("Hope"). Employee compensation was the basis for allocating pension costs and obligations between EGTS and Hope. Retiree healthcare and life insurance benefits, for EGTS employees represented by a collective bargaining unit, were covered by a separate other postretirement benefit plan that provides benefits to both EGTS and Hope. Employee headcount was the basis for allocating other postretirement benefit costs and obligations between EGTS and Hope. Pension Remeasurement In the third quarter of 2020, EGTS remeasured a pension plan due to a curtailment resulting from the agreement for DEI to retain the assets and obligations of the pension benefit plan associated with the GT&S Transaction. The remeasurement resulted in an increase in the pension benefit obligation of $3 million and a decrease in the fair value of the pension plan assets of $7 million for EGTS. The impact of the remeasurement on net periodic pension benefit credit was recognized prospectively from the remeasurement date and was not material. The discount rate used for the remeasurement was 3.16%. All other assumptions used for the remeasurement were consistent with the measurement as of December 31, 2019. Net Periodic Benefit Credit Net periodic benefit credit for the plans included the following components for the year ended December 31, 2020 (in millions): Pension Other Postretirement Service cost $ 5 $ 1 Interest cost 8 4 Expected return on plan assets (47) (16) Net amortization 3 (3) Net periodic benefit credit $ (31) $ (14) Significant assumptions used to determine periodic credits for the year ended December 31, 2020: Pension Other Postretirement Discount rate 3.16% - 3.63% 3.44 % Expected long-term rate of return on plan assets 8.60 % 8.50 % Weighted average rate of increase for compensation 4.73 % N/A Healthcare cost trend rate 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % Year that the rate reached the ultimate trend rate 2026 Defined Contribution Plans EGTS participated in the DEI defined contribution employee savings plans prior to the GT&S Transaction. EGTS' matching contributions were based on each participant's level of contribution. Contributions could not exceed the maximum allowable for tax purposes. EGTS' contributions to the 401(k) plan were $2 million for the year ended December 31, 2020. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2022 | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations The Company estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. The Company does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $2.6 billion and $2.4 billion as of December 31, 2022 and 2021, respectively. The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Quad Cities Station $ 417 $ 427 Fossil-fueled generating facilities 396 466 Wind-powered generating facilities 353 299 Solar-powered generating facilities 30 25 Offshore pipeline facilities 14 14 Other 118 109 Total asset retirement obligations $ 1,328 $ 1,340 Quad Cities Station nuclear decommissioning trust funds $ 664 $ 768 The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 1,340 $ 1,341 Change in estimated costs 2 81 Acquisitions 29 — Additions 32 15 Retirements (122) (144) Accretion 47 47 Ending balance $ 1,328 $ 1,340 Reflected as: Other current liabilities $ 76 $ 130 Other long-term liabilities 1,252 1,210 Total ARO liability $ 1,328 $ 1,340 The Nuclear Regulatory Commission regulates the decommissioning of nuclear generating facilities, which includes the planning and funding for the decommissioning. In accordance with these regulations, MidAmerican Energy submits a biennial report to the Nuclear Regulatory Commission providing reasonable assurance that funds will be available to pay for its share of the Quad Cities Station decommissioning. Certain of the Company's decommissioning and reclamation obligations relate to jointly owned facilities and mine sites, and as such, each subsidiary is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, the respective subsidiary may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. The Company's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities. |
PAC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations PacifiCorp estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. PacifiCorp does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. Cost of removal regulatory liabilities totaled $1,332 million and $1,187 million as of December 31, 2022 and 2021, respectively. The following table reconciles the beginning and ending balances of PacifiCorp's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 304 $ 270 Change in estimated costs 20 40 Additions 3 — Retirements (6) (15) Accretion 10 9 Ending balance $ 331 $ 304 Reflected as: Other current liabilities $ 11 $ 5 Other long-term liabilities 320 299 $ 331 $ 304 Certain of PacifiCorp's decommissioning and reclamation obligations relate to jointly owned facilities and mine sites. PacifiCorp is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, PacifiCorp may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. PacifiCorp's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities. |
MEC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations MidAmerican Energy estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. MidAmerican Energy does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $392 million and $394 million as of December 31, 2022 and 2021, respectively. The following table presents MidAmerican Energy's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Quad Cities Station $ 417 $ 427 Fossil-fueled generating facilities 76 161 Wind-powered generating facilities 210 197 Solar-powered generating facilities and other 4 2 Total asset retirement obligations $ 707 $ 787 Quad Cities Station nuclear decommissioning trust funds (1) $ 664 $ 768 (1) Refer to Note 6 for a discussion of the Quad Cities Station nuclear decommissioning trust funds. The following table reconciles the beginning and ending balances of MidAmerican Energy's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 787 $ 818 Change in estimated costs (27) 35 Additions 2 6 Retirements (85) (103) Accretion 30 31 Ending balance $ 707 $ 787 Reflected as: Other current liabilities $ 24 $ 73 Asset retirement obligations 683 714 $ 707 $ 787 Retirements in 2022 and 2021 relate to settlements of MidAmerican Energy's coal combustion residuals ARO liabilities. |
MidAmerican Funding, LLC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement ObligationsRefer to Note 11 of MidAmerican Energy's Notes to Financial Statements. |
NPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations Nevada Power estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. Nevada Power does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $358 million and $348 million as of December 31, 2022 and 2021, respectively. The following table presents Nevada Power's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Waste water remediation $ 31 $ 37 Evaporative ponds and dry ash landfills 14 13 Solar-powered generating facilities 3 3 Other 11 15 Total asset retirement obligations $ 59 $ 68 The following table reconciles the beginning and ending balances of Nevada Power's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 68 $ 72 Change in estimated costs 5 — Retirements (16) (6) Accretion 2 2 Ending balance $ 59 $ 68 Reflected as: Other current liabilities $ 16 $ 19 Other long-term liabilities 43 49 $ 59 $ 68 In 2008, Nevada Power signed an administrative order of consent as owner and operator of Reid Gardner Generating Station Unit Nos. 1, 2 and 3 and as co-owner and operating agent of Unit No. 4. Based on the administrative order of consent, Nevada Power recorded estimated AROs and capital remediation costs. However, actual costs of work under the administrative order of consent may vary significantly once the scope of work is defined and additional site characterization has been completed. In connection with the termination of the co-ownership arrangement, effective October 22, 2013, between Nevada Power and California Department of Water Resources ("CDWR") for the Reid Gardner Generating Station Unit No. 4, Nevada Power and CDWR entered into a cost-sharing agreement that sets forth how the parties will jointly share in costs associated with all investigation, characterization and, if necessary, remedial activities as required under the administrative order of consent. Certain of Nevada Power's decommissioning and reclamation obligations relate to jointly-owned facilities, and as such, Nevada Power is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, the respective subsidiary may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. Management has identified legal obligations to retire generation plant assets specified in land leases for Nevada Power's jointly-owned Navajo Generating Station, retired in November 2019, and the Higgins Generating Station. Provisions of the lease require the lessees to remove the facilities upon request of the lessors at the expiration of the leases. Nevada Power's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities in other long-term liabilities on the Consolidated Balance Sheets. |
SPPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations Sierra Pacific estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. Sierra Pacific does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $200 million and $201 million as of December 31, 2022 and 2021, respectively. The following table presents Sierra Pacific's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Asbestos $ 5 $ 5 Evaporative ponds and dry ash landfills 3 3 Other 3 3 Total asset retirement obligations $ 11 $ 11 Sierra Pacific's ARO liabilities beginning and ending balances totaled $11 million for the years ended December 31, 2022 and 2021. These balances are reflected as other long-term liabilities on the Consolidated Balance Sheets. Certain of Sierra Pacific's decommissioning and reclamation obligations relate to jointly-owned facilities, and as such, Sierra Pacific is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, the respective subsidiary may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. Sierra Pacific's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities in other long-term liabilities on the Consolidated Balance Sheets. |
EEGH | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement Obligations Eastern Energy Gas estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. Eastern Energy Gas does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on the Cove Point LNG facility, interim removal of natural gas pipelines and certain storage wells in EGTS' underground natural gas storage network cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. Cost of removal regulatory liabilities totaled $82 million and $73 million as of December 31, 2022 and 2021, respectively. Eastern Energy Gas will continue to monitor operational and strategic developments to identify if sufficient information exists to reasonably estimate a retirement date for these assets. The following table reconciles the beginning and ending balances of Eastern Energy Gas' ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 55 $ 71 Additions 4 — Retirements (12) (17) Accretion 1 1 Ending balance $ 48 $ 55 Reflected as: Current liabilities $ 25 $ 33 Other long-term liabilities 23 22 Total ARO liability $ 48 $ 55 |
EGTS | |
Asset Retirement Obligations Disclosure [Line Items] | |
Asset Retirement Obligations | Asset Retirement ObligationsEGTS estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. EGTS does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the interim removal of natural gas pipelines and certain storage wells in EGTS' underground natural gas storage network cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. Cost of removal regulatory liabilities totaled $24 million and $16 million as of December 31, 2022 and 2021, respectively. EGTS will continue to monitor operational and strategic developments to identify if sufficient information exists to reasonably estimate a retirement date for these assets. The following table reconciles the beginning and ending balances of EGTS' ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 55 $ 71 Additions 4 — Retirements (12) (17) Accretion 1 1 Ending balance $ 48 $ 55 Reflected as: Current liabilities $ 25 $ 33 Other long-term liabilities 23 22 Total ARO liability $ 48 $ 55 |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 12 Months Ended |
Dec. 31, 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 Notes 2 and 13 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): Other Other Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 279 $ 27 $ 9 $ 3 $ 318 Commodity liabilities (22) (7) (14) (5) (48) Total 257 20 (5) (2) 270 Total derivatives 257 20 (5) (2) 270 Cash collateral payable (2) (73) (5) — — (78) Total derivatives - net basis $ 184 $ 15 $ (5) $ (2) $ 192 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 December 31, 2022 a regulatory liability of $270 million was recorded related to the net derivative asset of $270 million. As of December 31, 2021 regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. (2) As December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory (liabilities) assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory (liabilities) assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (53) $ 17 $ 62 Changes in fair value recognized in regulatory (liabilities) assets (513) (171) (11) Net (losses) gains reclassified to operating revenue (13) (23) 3 Net gains (losses) reclassified to cost of fuel and energy 309 124 (37) Ending balance $ (270) $ (53) $ 17 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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 127 106 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 December 31, 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 $48 million and $37 million as of December 31, 2022 and 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 December 31, 2022 and 2021, PacifiCorp would have been required to post $3 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 and natural gas market fluctuations primarily through Nevada Power's obligation to serve retail customer load in its regulated service territory. Nevada Power's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Nevada Power does not engage in proprietary trading activities. Nevada Power has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Nevada Power uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Nevada Power manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Nevada Power may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Nevada Power's exposure to interest rate risk. Nevada Power does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Nevada Power's accounting policies related to derivatives. Refer to Notes 2 and 13 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Nevada Power's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Derivative Other Contracts - Other Current Current Long-term Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 23 $ — $ — $ 23 Commodity liabilities — (51) (24) (75) Total derivative - net basis $ 23 $ (51) $ (24) $ (52) 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 December 31, 2022 and 2021, a regulatory asset of $52 million and $113 million, respectively, was recorded related to the net derivative liability of $52 million and $113 million, respectively. 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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases Megawatt hours 2 1 Natural gas purchases Decatherms 109 119 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 December 31, 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 Notes 2 and 13 for additional information on derivative contracts. The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Sierra Pacific's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions): Other Other Other Current Current Long-term Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 8 $ — $ — $ 8 Commodity liabilities — (14) (7) (21) Total derivative - net basis $ 8 $ (14) $ (7) $ (13) 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 December 31, 2022 and 2021, a regulatory asset of $13 million and $33 million, respectively, was recorded related to the net derivative liability of $13 million and $33 million, respectively. 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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 52 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 December 31, 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 December 31, 2022 and 2021, respectively, which represents the amount of collateral to be posted if all credit risk related contingent features for derivative contracts in liability positions had been triggered. Sierra Pacific's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
EEGH | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities Eastern Energy Gas is exposed to the impact of market fluctuations in commodity prices, interest rates, and foreign currency exchange rates. Eastern Energy Gas is principally exposed to natural gas market fluctuations primarily through fuel retained and used during the operation of the pipeline system as well as lost and unaccounted for gas, to interest rate risk on its outstanding variable-rate short- and long-term debt and future debt issuances, and to foreign currency exchange risk associated with Euro denominated debt. Eastern Energy Gas 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, Eastern Energy Gas 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. Eastern Energy Gas also uses interest rate swaps to hedge its exposure to variable interest rates on long-term debt as well as foreign currency swaps to hedge its exposure to principal and interest payments denominated in Euros. Eastern Energy Gas 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 Eastern Energy Gas' accounting policies related to derivatives. Refer to Notes 2 and 13 for additional information on derivative contracts. Derivative Contract Volumes The following table summarizes the net notional amounts of outstanding commodity and foreign currency derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2022 2021 Foreign currency Euro € 250 250 Natural gas Dth 3 2 Credit Risk Eastern Energy Gas 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 Eastern Energy Gas' counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. Before entering into a transaction, Eastern Energy Gas 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, Eastern Energy Gas 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, Eastern Energy Gas exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. Upon the Cove Point LNG export/liquefaction facility commencing commercial operations, the majority of Cove Point's revenue and earnings are from annual reservation payments under certain terminalling, storage and transmission contracts with ST Cove Point, LLC, a joint venture of Sumitomo Corporation and Tokyo Gas Co., LTD., and GAIL Global (USA) LNG, LLC (the "Export Customers"). If such agreements were terminated and Cove Point was unable to replace such agreements on comparable terms, there could be a material impact on results of operations, financial condition and/or cash flows. The Export Customers comprised approximately 38% and 40% of Eastern Energy Gas' operating revenues for the years ended December 31, 2022 and 2021, respectively, with Eastern Energy Gas' largest customer representing approximately 20% of such amounts. For the year ended December 31, 2022, EGTS provided service to 266 customers with approximately 95% of its storage and transmission revenue being provided through firm services. The 10 largest customers provided approximately 38% of the total storage and transmission revenue and the thirty largest provided approximately 71% of the total storage and transmission revenue. |
EGTS | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities EGTS is exposed to the impact of market fluctuations in commodity prices, principally, to natural gas market fluctuations primarily related to fuel retained and used during the operation of the pipeline system as well as lost and unaccounted for gas. EGTS has established a risk management process that is designed to identify, assess, manage, mitigate, monitor and report, each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, EGTS 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. EGTS does not hedge all of its commodity price risk, thereby exposing the unhedged portion to changes in market prices. See Note 14 for further information about fair value measurements and associated valuation methods for derivatives. There have been no significant changes in EGTS' accounting policies related to derivatives. Refer to Notes 2 and 14 for additional information on derivative contracts. Credit Risk EGTS 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 EGTS' counterparties have similar economic, industry or other characteristics and due to direct or indirect relationships among the counterparties. For the year ended December 31, 2022, the ten largest customers provided 38% of the total storage and transmission revenues. Before entering into a transaction, EGTS 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, EGTS 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, EGTS exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 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 December 31, 2022: Assets: Commodity derivatives $ 6 $ 614 $ 51 $ (194) $ 477 Interest rate derivatives 50 54 8 — 112 Mortgage loans held for sale — 474 — — 474 Money market mutual funds 1,178 — — — 1,178 Debt securities: U.S. government obligations 2,146 — — — 2,146 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 3,771 — — — 3,771 Investment funds 231 — — — 231 $ 7,742 $ 1,217 $ 59 $ (194) $ 8,824 Liabilities: Commodity derivatives $ (8) $ (206) $ (110) $ 106 $ (218) Foreign currency exchange rate derivatives — (21) — — (21) Interest rate derivatives — (2) (2) 1 (3) $ (8) $ (229) $ (112) $ 107 $ (242) 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 December 31, 2022 and 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 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 for the years ended December 31 (in millions). Transfers out of Level 3 occur primarily due to increased price observability. Commodity Derivatives Interest Rate Derivatives 2022 2021 2020 2022 2021 2020 Beginning balance $ (151) $ 116 $ 97 $ 19 $ 62 $ 14 Changes included in earnings (1) (85) (43) (10) (13) (43) 48 Changes in fair value recognized in OCI 9 (13) — — — — Changes in fair value recognized in net regulatory assets (52) (118) (17) — — — Purchases 3 (76) 5 — — — Settlements 171 (34) 41 — — — Transfers out of Level 3 into Level 2 46 17 — — — — Ending balance $ (59) $ (151) $ 116 $ 6 $ 19 $ 62 (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 Financial Statements. 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 as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,635 $ 46,906 $ 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 December 31, 2022: Assets: Commodity derivatives $ — $ 318 $ — $ (119) $ 199 Money market mutual funds 649 — — — 649 Investment funds 23 — — — 23 $ 672 $ 318 $ — $ (119) $ 871 Liabilities - Commodity derivatives $ — $ (48) $ — $ 41 $ (7) 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 $78 million and a net cash collateral receivable of $5 million as of December 31, 2022 and 2021, respectively. As December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. A discounted cash flow valuation method was used to estimate fair value . When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which PacifiCorp transacts. When quoted prices for identical contracts are not available, PacifiCorp uses forward price curves. Forward price curves represent PacifiCorp's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. PacifiCorp bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent energy brokers, exchanges, direct communication with market participants and actual transactions executed by PacifiCorp. Market price quotations for certain major electricity and natural gas trading hubs are generally readily obtainable for the first three years; therefore, PacifiCorp's forward price curves for those locations and periods reflect observable market quotes. Market price quotations for other electricity and natural gas trading hubs are not as readily obtainable for the first three years. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, PacifiCorp uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Refer to Note 12 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 as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 9,666 $ 9,045 $ 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 December 31, 2022: Assets: Commodity derivatives $ 1 $ 37 $ 6 $ (10) $ 34 Money market mutual funds 225 — — — 225 Debt securities: U.S. government obligations 215 — — — 215 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 8 — — — 8 Investment funds 16 — — — 16 $ 825 $ 112 $ 6 $ (10) $ 933 Liabilities - commodity derivatives $ — $ (12) $ (1) $ 10 $ (3) 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 receivable of $— million and $5 million as of December 31, 2022 and 2021, respectively. MidAmerican Energy's investments in money market mutual funds and debt and equity securities are stated at fair value, with debt securities accounted for as available-for-sale securities. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. In the absence of a quoted market price or net asset value of an identical security, the fair value is determined using pricing models or net asset values based on observable market inputs and quoted market prices of securities with similar characteristics. The following table reconciles the beginning and ending balances of MidAmerican Energy's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): 2022 2021 2020 Beginning balance $ (5) $ 2 $ 1 Changes in fair value recognized in net regulatory assets 37 (2) 2 Settlements (27) (5) (1) Ending balance $ 5 $ (5) $ 2 MidAmerican Energy's long-term debt is carried at cost on the Financial Statements. 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 as of December 31 (in millions): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,729 $ 6,964 $ 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 12 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 as of December 31 (in millions): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,969 $ 7,219 $ 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 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 December 31, 2022: Assets: Commodity derivatives $ — $ — $ 23 $ 23 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 23 $ 60 Liabilities - commodity derivatives $ — $ — $ (75) $ (75) 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) Nevada Power's investments in money market mutual funds and investment funds are accounted for as available-for-sale securities and 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 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 December 31, 2022, had an immaterial impact to the fair value of its derivative contracts. As such, Nevada Power considers its derivative contracts to be valued using Level 3 inputs. Nevada Power's investments in money market mutual funds and equity securities are accounted for as available-for-sale securities and 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 net commodity derivative assets or liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (113) $ 15 $ (8) Changes in fair value recognized in regulatory assets or liabilities (68) (90) (17) Settlements 129 (38) 40 Ending balance $ (52) $ (113) $ 15 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 following table presents the carrying value and estimated fair value of Nevada Power's long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,195 $ 3,114 $ 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 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 December 31, 2022: Assets: Commodity derivatives $ — $ — $ 8 $ 8 Money market mutual funds 49 — — 49 Investment funds 1 — — 1 $ 50 $ — $ 8 $ 58 Liabilities - commodity derivatives $ — $ — $ (21) $ (21) 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 accounted for as available-for-sale securities and 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 purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which Sierra Pacific transacts. When quoted prices for identical contracts are not available, Sierra Pacific uses forward price curves. Forward price curves represent Sierra Pacific's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. Sierra Pacific bases its forward price curves upon internally developed models, with internal and external fundamental data inputs. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to markets that are not active. Given that limited market data exists for these contracts, Sierra Pacific uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The model incorporates a mid-market pricing convention (the mid‑point price between bid and ask prices) as a practical expedient for valuing its assets and liabilities measured and reported at fair value. The determination of the fair value for derivative contracts not only includes counterparty risk, but also the impact of Sierra Pacific's nonperformance risk on its liabilities, which as of December 31, 2022, had an immaterial impact to the fair value of its derivative contracts. As such, Sierra Pacific considers its derivative contracts to be valued using Level 3 inputs. Sierra Pacific's investments in money market mutual funds and equity securities are accounted for as available-for-sale securities and 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 net commodity derivative assets or liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (33) $ 7 $ (1) Changes in fair value recognized in regulatory assets or liabilities (21) (25) (2) Settlements 41 (15) 10 Ending balance $ (13) $ (33) $ 7 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 following table presents the carrying value and estimated fair value of Sierra Pacific's long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,111 $ 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 December 31, 2022 Assets: Commodity derivative $ — $ 1 $ — $ 1 Money market mutual funds 42 — — 42 Equity securities: Investment funds 14 — — 14 $ 56 $ 1 $ — $ 57 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) 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 as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,892 $ 3,510 $ 3,906 $ 4,266 |
EGTS | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements | Fair Value Measurements The carrying value of EGTS' cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. EGTS has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that EGTS has the ability to access at the measurement date. • Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 - Unobservable inputs reflect EGTS' judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. EGTS develops these inputs based on the best information available, including its own data. The following table presents EGTS' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of December 31, 2022 Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 8 — — 8 Equity securities: Investment funds 14 — — 14 $ 22 $ 1 $ — $ 23 As of December 31, 2021 Assets: Equity securities: Investment funds $ 13 $ — $ — $ 13 $ 13 $ — $ — $ 13 EGTS' investments in money market mutual funds and investment funds are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchase or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which EGTS transacts. When quoted prices for identical contracts are not available, EGTS uses forward price curves. Forward price curves represent EGTS' estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. EGTS bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by EGTS. Market price quotations are generally readily obtainable for the applicable term of EGTS' outstanding derivative contracts; therefore, EGTS' forward price curves reflect observable market quotes. Market price quotations for certain natural gas trading hubs are not as readily obtainable due to the length of the contracts. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, EGTS uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, related volatility, counterparty creditworthiness and duration of contracts. EGTS' long-term debt is carried at cost, including unamortized premiums, discounts and debt issuance costs as applicable, on the Consolidated Financial Statements. The fair value of EGTS' long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The following table presents the carrying value and estimated fair value of EGTS' long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,582 $ 1,337 $ 1,581 $ 1,812 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 3,431 $ 1,879 $ 1,381 $ 1,286 $ 1,234 $ 11,862 $ 21,073 Construction commitments 2,434 1,088 144 294 10 — 3,970 Easements 88 86 85 86 87 3,049 3,481 Maintenance, service and other contracts 461 350 297 283 256 1,472 3,119 $ 6,414 $ 3,403 $ 1,907 $ 1,949 $ 1,587 $ 16,383 $ 31,643 Fuel, Capacity and Transmission Contract Commitments The Utilities have fuel supply and related transportation and lime contracts for their coal- and natural gas-fueled generating facilities. The Utilities expect to supplement these contracts with additional contracts and spot market purchases to fulfill their future fossil fuel needs. The Utilities acquire a portion of their electricity through long-term purchases and exchange agreements. The Utilities have several power purchase agreements with renewable generating facilities that are not included in the table above as the payments are based on the amount of energy generated and there are no minimum payments. The Utilities also have contracts for the right to transmit electricity over other entities' transmission lines to facilitate delivery to their customers. MidAmerican Energy has long-term rail transportation contracts with BNSF Railway Company ("BNSF"), an affiliate company, and Union Pacific Railroad Company for the transportation of coal to all of the MidAmerican Energy-operated coal-fueled generating facilities. For the years ended December 31, 2022, 2021 and 2020, $100 million, $76 million and $90 million, respectively, were incurred for coal transportation services, the majority of which was related to the BNSF agreement. Construction Commitments The Company's firm construction commitments reflected in the table above include the following major construction projects: • PacifiCorp's costs associated with certain generating plant, transmission, and distribution projects. • MidAmerican Energy's firm construction commitments primarily consisting of contracts for the repowering and construction of wind- and solar-powered generating facilities and the settlement of AROs. • Nevada Utilities' firm construction commitments consisting of costs associated with a planned 150-MW solar photovoltaic facility with an additional 100 MWs of co-located battery storage that will be developed in Clark County, Nevada, a planned 220-MW grid-tied battery energy storage system that will be developed on the site of the retired Reid Gardner generating station in Clark County, Nevada and certain other generating plant projects and costs associated with two additional solar photovoltaic facility projects. The first project is a 250-MW solar photovoltaic facility with an additional 200 MWs of co-located battery storage that will be developed in Humboldt County, Nevada. The second project is a 350-MW solar photovoltaic facility with an additional 280 MWs of co-located battery storage that will be developed in Humboldt County, Nevada. Commercial operation has been delayed for both projects to an undetermined date. Both facilities will be jointly owned and operated by Nevada Power and Sierra Pacific. • AltaLink's investments in directly assigned transmission projects from the AESO. Easements The Company has non-cancelable easements for land on which certain of its assets, primarily wind- and solar-powered generating facilities, are located. Maintenance, Service and Other Contracts The Company has entered into service agreements related to its nonregulated wind-powered and solar-powered projects with third parties to operate and maintain the projects under fixed-fee operating and maintenance agreements. Additionally, the Company has various non-cancelable maintenance, service and other contracts primarily related to turbine and equipment maintenance and various other service agreements. Environmental Laws and Regulations The Company is subject to federal, state, local and foreign laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact the its 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 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 hydroelectric dams comprising the Lower Klamath Project (FERC Project No. 14803) from PacifiCorp to the KRRC. The FERC approved the 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 Lower Klamath 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 the transfer of the Lower Klamath Project 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. In August 2022, the FERC staff issued a final environmental impact statement for the project, concluding that dam removal is the preferred action. In November 2022, the FERC issued a license surrender order for the project, which was accepted by the KRRC and the States in December 2022, along with the transfer of the Lower Klamath Project dams. Although PacifiCorp no longer owns the Lower Klamath Project, PacifiCorp will continue to operate the facilities under an operation and maintenance agreement with the KRRC until each facility is ready for removal. Removal of the Copco No. 2 facility is anticipated to begin in 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1, and Iron Gate) is anticipated to begin in 2024. Hydroelectric Commitments Certain of PacifiCorp's hydroelectric licenses and settlement agreements contain requirements for PacifiCorp to make certain capital and operating expenditures related to its hydroelectric facilities, which are estimated to be approximately $282 million over the next 10 years. 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. Wildfires Overview - PacifiCorp A provision for a loss contingency is recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. PacifiCorp evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages from wildfires without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could be found liable for all damages proximately caused by negligence, including real and personal property and natural resource damages; fire suppression costs; personal injury and loss of life damages; and interest. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California (the "2020 Wildfires"). The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon burning over 500,000 acres in aggregate. Third party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, numerous lawsuits have been filed in Oregon and California, including a class action complaint in Oregon, on behalf of plaintiffs related to the 2020 Wildfires. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. PacifiCorp has accrued cumulative estimated probable losses associated with the 2020 Wildfires of $477 million through December 31, 2022. The accrual includes PacifiCorp's estimate of losses for fire suppression costs, real and personal property damages, natural resource damages for certain areas and noneconomic damages such as personal injury damages and loss of life damages that are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to certain areas of natural resource damages, is not currently available. It is reasonably possible PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover a portion of the losses. The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 252 $ 252 $ — Accrued losses 225 — 252 Payments (53) — — Ending balance $ 424 $ 252 $ 252 PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $246 million and $116 million, respectively, as of December 31, 2022 and 2021. During the years ended December 31, 2022, 2021, and 2020, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the 2020 Wildfires of $64 million, $— million and $136 million, respectively. 2022 McKinney Fire According to California Department of Forestry and Fire Protection, on July 29, 2022, at approximately 2:16 p.m. Pacific Time, a wildfire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California (the "2022 McKinney Fire") located in PacifiCorp's service territory. Third party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged, 185 structures destroyed, 12 injuries and four fatalities and consumed 60,000 acres. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service. Due to the preliminary nature of the investigation PacifiCorp does not believe a loss is probable and therefore has not accrued any loss as of the date of this filing. While the loss is not probable, PacifiCorp estimates the potential loss, excluding losses for natural resource damages, to be $31 million, net of expected insurance recoveries. The loss estimate includes PacifiCorp's estimate of losses for fire suppression costs; real and personal property damages; and noneconomic damages such as personal injury damages and loss of life damages. PacifiCorp is unable to estimate the total potential loss, including losses for natural resource damages, because there are a number of unknown facts and legal considerations that may impact the amount of any potential liability, including the total scope and nature of claims that may be asserted against PacifiCorp. PacifiCorp has insurance available and estimates the potential insurance recoveries to be $103 million, to cover potential losses. As of the date of this filing, multiple lawsuits have been filed in California on behalf of plaintiffs related to the 2022 McKinney Fire. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages but the amount of damages sought are not specified. The final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. Guarantees |
PAC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments PacifiCorp has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Certain commitments are with related parties. Refer to Note 21 for transactions associated with these related party contracts. Minimum payments as of December 31, 2022 are as follows (in millions): 2023 2024 2025 2026 2027 2028 and Thereafter Total Contract type: Purchased electricity contracts - commercially operable $ 547 $ 241 $ 199 $ 197 $ 197 $ 2,162 $ 3,543 Purchased electricity contracts - non-commercially operable — — 6 12 12 208 238 Fuel contracts 784 398 148 146 153 401 2,030 Construction commitments 535 210 14 1 — — 760 Transmission 108 100 74 65 55 418 820 Easements 21 20 20 21 21 720 823 Maintenance, service and other contracts 101 54 55 53 53 197 513 Total commitments $ 2,096 $ 1,023 $ 516 $ 495 $ 491 $ 4,106 $ 8,727 Purchased Electricity Contracts - Commercially Operable As part of its energy resource portfolio, PacifiCorp acquires a portion of its electricity through long-term purchases and exchange agreements. PacifiCorp has many long-term PPAs primarily with solar-powered or wind-powered generating facilities that are not included in the table above due to there being no minimum payments generally due to being dependent on wind and solar conditions. The PPAs generally range from 7 to 30 years in duration, with certain of the PPAs extending through 2054. Future payments associated with these PPAs are expected to be material. Certain of these PPAs qualify as leases as described in Note 2. Refer to Note 5 for variable lease costs associated with these lease commitments. Included in the minimum fixed annual payments for purchased electricity above are commitments to purchase electricity from several hydroelectric systems under long-term arrangements with public utility districts. These purchases are made on a "cost-of-service" basis for a stated percentage of system output and for a like percentage of system operating expenses and debt service. These costs are included in energy costs on the Consolidated Statements of Operations. PacifiCorp is required to pay its portion of operating costs and its portion of the debt service, whether or not any electricity is produced. These arrangements accounted for less than 5% of PacifiCorp's 2022, 2021 and 2020 energy sources. Purchased Electricity Contracts - Non-Commercially Operable PacifiCorp has many long-term PPAs with facilities that have not yet achieved commercial operation, primarily related to wind-powered and solar-powered generated facilities and including with facilities that are not included in the table above due to there being no minimum payments generally due to being dependent on wind and solar conditions. The PPAs generally range from 7 to 30 years in duration with certain of the PPAs extending through 2054. In September 2022, PacifiCorp entered into a purchased electricity contract for a 400 MW solar generating facility including a 200 MW battery storage unit. Minimum obligations associated with the battery storage unit are included in the table above. In January 2023, PacifiCorp entered into a PPA for a 525 MW solar generating facility with a corresponding agreement for a 150 MW battery storage unit for which the minimum obligations are being evaluated. Future payments associated with these arrangements are expected to be material. However, to the extent these facilities do not achieve commercial obligation, PacifiCorp has no obligation to the counterparties. Fuel Contracts PacifiCorp has "take or pay" coal and natural gas contracts that require minimum payments. Construction Commitments PacifiCorp's construction commitments included in the table above relate to firm commitments and include costs associated with certain generating plant, transmission, and distribution projects. Transmission PacifiCorp has contracts for the right to transmit electricity over other entities' transmission lines to facilitate delivery to PacifiCorp's customers. Easements PacifiCorp has non-cancelable easements for land on which certain of its assets, primarily wind-powered generating facilities, are located. Environmental Laws and Regulations PacifiCorp is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal, wildfire prevention and mitigation and other environmental matters that have the potential to impact its current and future operations. PacifiCorp believes it is in material compliance with all applicable laws and regulations. Lower Klamath Hydroelectric Project 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 hydroelectric dams comprising the Lower Klamath Project (FERC Project No. 14803) from PacifiCorp to the KRRC. The FERC approved the 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 Lower Klamath 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 the transfer of the Lower Klamath Project 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. In August 2022, the FERC staff issued a final environmental impact statement for the project, concluding that dam removal is the preferred action. In November 2022, the FERC issued a license surrender order for the project, which was accepted by the KRRC and the States in December 2022, along with the transfer of the Lower Klamath Project dams. Although PacifiCorp no longer owns the Lower Klamath Project, PacifiCorp will continue to operate the facilities under an operation and maintenance agreement with the KRRC until each facility is ready for removal. Removal of the Copco No. 2 facility is anticipated to begin in 2023, and removal of the remaining three dams (J.C. Boyle, Copco No. 1, and Iron Gate) is anticipated to begin in 2024. Hydroelectric Commitments Certain of PacifiCorp's hydroelectric licenses and settlement agreements contain requirements for PacifiCorp to make certain capital and operating expenditures related to its hydroelectric facilities, which are estimated to be approximately $282 million over the next 10 years. Legal Matters PacifiCorp is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. PacifiCorp does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. PacifiCorp is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. Wildfires Overview A provision for a loss contingency is recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. PacifiCorp evaluates the related range of reasonably estimated losses and records a loss based on its best estimate within that range or the lower end of the range if there is no better estimate. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages from wildfires without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could be found liable for all damages proximately caused by negligence, including real and personal property and natural resource damages; fire suppression costs; personal injury and loss of life damages; and interest. 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, which resulted in real and personal property and natural resource damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon burning over 500,000 acres in aggregate. Third party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and being conducted by various entities, including the U.S. Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. As of the date of this filing, numerous lawsuits have been filed in Oregon and California, including a class action complaint in Oregon, on behalf of plaintiffs related to the 2020 Wildfires. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages. Additionally, several insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. PacifiCorp has accrued cumulative estimated probable losses associated with the 2020 Wildfires of $477 million, through December 31, 2022. The accrual includes PacifiCorp's estimate of losses for fire suppression costs, real and personal property damages, natural resource damages for certain areas and noneconomic damages such as personal injury damages and loss of life damages that are considered probable of being incurred and that it is reasonably able to estimate at this time. For certain aspects of the 2020 Wildfires for which loss is considered probable, information necessary to reasonably estimate the potential losses, such as those related to certain areas of natural resource damages, is not currently available. It is reasonably possible PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the variation in those types of properties and lack of available details. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover a portion of the losses. The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 252 $ 252 $ — Accrued losses 225 — 252 Payments (53) — — Ending balance $ 424 $ 252 $ 252 PacifiCorp's receivable for expected insurance recoveries associated with the probable losses was $246 million and $116 million, respectively, as of December 31, 2022 and 2021. During the years ended December 31, 2022, 2021, and 2020, PacifiCorp recognized probable losses net of expected insurance recoveries associated with the 2020 Wildfires of $64 million, $— million and $136 million, respectively. 2022 McKinney Fire According to California Department of Forestry and Fire Protection, on July 29, 2022, at approximately 2:16 p.m. Pacific Time, a wildfire began in the Oak Knoll Ranger District of the Klamath National Forest in Siskiyou County, California (the "2022 McKinney Fire") located in PacifiCorp's service territory. Third party reports indicate that the 2022 McKinney Fire resulted in 11 structures damaged, 185 structures destroyed, 12 injuries and four fatalities and consumed 60,000 acres. The cause of the 2022 McKinney Fire is undetermined and remains under investigation by the U.S. Forest Service. Due to the preliminary nature of the investigation PacifiCorp does not believe a loss is probable and therefore has not accrued any loss as of the date of this filing. While the loss is not probable, PacifiCorp estimates the potential loss, excluding losses for natural resource damages, to be $31 million, net of expected insurance recoveries. The loss estimate includes PacifiCorp's estimate of losses for fire suppression costs; real and personal property damages; and noneconomic damages such as personal injury damages and loss of life damages. PacifiCorp is unable to estimate the total potential loss, including losses for natural resource damages, because there are a number of unknown facts and legal considerations that may impact the amount of any potential liability, including the total scope and nature of claims that may be asserted against PacifiCorp. PacifiCorp has insurance available and estimates the potential insurance recoveries to be $103 million, to cover potential losses. As of the date of this filing, multiple lawsuits have been filed in California on behalf of plaintiffs related to the 2022 McKinney Fire. The plaintiffs seek damages that include property damages, economic losses, punitive damages, exemplary damages, attorneys' fees and other damages but the amount of damages sought are not specified. The final determinations of liability, however, will only be made following the completion of comprehensive investigations and litigation processes. Guarantees PacifiCorp has entered into guarantees as part of the normal course of business and the sale or transfer of certain assets. These guarantees are not expected to have a material impact on PacifiCorp's consolidated financial results. |
MEC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments MidAmerican Energy had the following firm commitments that are not reflected on the Balance Sheet. Minimum payments as of December 31, 2022, are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Coal and natural gas for generation $ 139 $ 81 $ 60 $ 29 $ 30 $ — $ 339 Electric capacity and transmission 33 32 33 33 17 7 155 Natural gas contracts for gas operations 172 78 70 60 47 33 460 Construction commitments 699 60 24 4 — — 787 Easements 42 43 44 44 45 1,536 1,754 Maintenance, services and other 165 129 98 102 99 163 756 $ 1,250 $ 423 $ 329 $ 272 $ 238 $ 1,739 $ 4,251 Coal, Natural Gas, Electric Capacity and Transmission Commitments MidAmerican Energy has coal supply and related transportation and lime contracts for its coal-fueled generating facilities. MidAmerican Energy expects to supplement the coal contracts with additional contracts and spot market purchases to fulfill its future coal supply needs. Additionally, MidAmerican Energy has a natural gas transportation contract for a natural gas-fueled generating facility. The contracts have minimum payment commitments ranging through 2027. MidAmerican Energy has various natural gas supply and transportation contracts for its regulated natural gas operations that have minimum payment commitments ranging through 2037. MidAmerican Energy has contracts to purchase electric capacity that have minimum payment commitments ranging through 2028. MidAmerican Energy also has contracts for the right to transmit electricity over other entities' transmission lines with minimum payment commitments ranging through 2027. Construction Commitments MidAmerican Energy's firm construction commitments reflected in the table above consist primarily of contracts for the repowering and construction of wind- and solar-powered generating facilities and the settlement of AROs. Easements MidAmerican Energy has non-cancelable easements with minimum payment commitments ranging through 2061 for land in Iowa on which certain of its assets, primarily wind- and solar-powered generating facilities, are located. Maintenance, Services and Other Contracts MidAmerican Energy has other non-cancelable contracts primarily related to maintenance and services for various generating facilities with minimum payment commitments ranging through 2030. Environmental Laws and Regulations MidAmerican Energy is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact its current and future operations. MidAmerican Energy believes it is in material compliance with all applicable laws and regulations. Legal Matters MidAmerican Energy is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. MidAmerican Energy does not believe that such normal and routine litigation will have a material impact on its financial results. Transmission Rates MidAmerican Energy's wholesale transmission rates are set annually using FERC-approved formula rates subject to true-up for actual cost of service. In November 2013 and February 2015, a coalition of intervenors filed successive complaints with the FERC requesting that the base return on equity ("ROE") used to determine rates in effect prior to September 2016 no longer be found just and reasonable and sought to reduce the base ROE. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion vacating all orders related to the complaints and remanding them back to the FERC. MidAmerican Energy cannot predict the ultimate outcome of these matters or the amount of refunds, if any, and accordingly, has reversed its previously accrued liability for potential refunds of amounts collected under the higher ROE during the periods covered by the complaints. |
MidAmerican Funding, LLC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Refer to Note 13 of MidAmerican Energy's Notes to Financial Statements. Legal Matters MidAmerican 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. |
NPC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments Nevada Power has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2023 2024 2025 2026 2027 2028 and Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 1,149 $ 485 $ 357 $ 360 $ 349 $ 2,871 $ 5,571 Fuel and capacity contract commitments (not commercially operable) 60 181 211 211 211 4,148 5,022 Construction commitments 525 77 20 21 10 — 653 Easements 5 3 2 2 2 50 64 Maintenance, service and other contracts 30 24 24 19 11 38 146 Total commitments $ 1,769 $ 770 $ 614 $ 613 $ 583 $ 7,107 $ 11,456 Fuel and Capacity Contract Commitments Purchased Power Nevada Power has several contracts for long-term purchase of electric energy which have been approved by the PUCN. The expiration of these contracts range from 2023 to 2067. Purchased power includes estimated payments for contracts which meet the definition of a lease and payments are based on the amount of energy expected to be generated. See Note 5 for further discussion of Nevada Power's lease commitments. Natural Gas Nevada Power's gas transportation contracts expire from 2027 to 2039 and the gas supply contracts expires from 2023 to 2024. Fuel and Capacity Contract Commitments - Not Commercially Operable Nevada Power has several contracts for long-term purchase of electric energy in which the facility remains under development. Amounts represent the estimated payments under renewable energy power purchase contracts, which have been approved by the PUCN and are contingent upon the developers obtaining commercial operation and their ability to deliver power. Construction Commitments Nevada Power's construction commitments included in the table above relate to firm commitments and include costs associated with a planned 150-MW solar photovoltaic facility with an additional 100 MWs of co-located battery storage that will be developed in Clark County, Nevada, a planned 220-MW grid-tied battery energy storage system that will be developed on the site of the retired Reid Gardner generating station in Clark County, Nevada and certain other generating plant projects. Easements Nevada Power has non-cancelable easements for land. Operations and maintenance expense on non-cancelable easements totaled $4 million for the years ended December 31, 2022, 2021 and 2020. Maintenance, Service and Other Contracts Nevada Power has long-term service agreements for the performance of maintenance on generation units. Obligation amounts are based on estimated usage. The estimated expiration of these service agreements range from 2023 to 2031. Environmental Laws and Regulations Nevada Power is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact its current and future operations. Nevada Power believes it is in material compliance with all applicable laws and regulations. Senate Bill 123 In June 2013, the Nevada State Legislature passed Senate Bill 123 ("SB 123"), which included the retirement of coal plants and replacing the capacity with renewable facilities and other generating facilities. In May 2014, Nevada Power filed its Emissions Reduction and Capacity Replacement Plan ("ERCR Plan") in compliance with SB 123. In July 2015, Nevada Power filed an amendment to its ERCR Plan with the PUCN which was approved in September 2015. In June 2015, the Nevada State Legislature passed Assembly Bill No. 498, which modified the capacity replacement components of SB 123. In compliance with SB 123, Nevada Power retired 255 MWs of coal-fueled generation in 2019 in addition to the 557 MWs of coal-fueled generation retired in 2017. Consistent with the ERCR Plan, between 2014 and 2016, Nevada Power acquired 536 MWs of natural gas generating resources, executed long-term power purchase agreements for 200 MWs of nameplate renewable energy capacity and constructed a 15-MW solar photovoltaic facility. Nevada Power has the option to acquire 35 MWs of nameplate renewable energy capacity in the future under the ERCR Plan, subject to PUCN approval. 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. Nevada Power 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. |
SPPC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Commitments Sierra Pacific has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 413 $ 244 $ 184 $ 134 $ 127 $ 1,447 $ 2,549 Fuel and capacity contract commitments (not commercially operable) 8 11 12 12 11 236 290 Construction commitments 500 741 86 268 — — 1,595 Easements 2 2 2 2 2 33 43 Maintenance, service and other contracts 7 5 5 3 — 5 25 Total commitments $ 930 $ 1,003 $ 289 $ 419 $ 140 $ 1,721 $ 4,502 Fuel and Capacity Contract Commitments Purchased Power Sierra Pacific has several contracts for long-term purchase of electric energy which have been approved by the PUCN. The expiration of these contracts range from 2025 to 2047. Purchased power includes estimated payments for contracts which meet the definition of a lease and payments are based on the amount of energy expected to be generated. See Note 5 for further discussion of Sierra Pacific's lease commitments. Coal and Natural Gas Sierra Pacific has a long-term contract for the transport of coal that expires in 2024. Additionally, gas transportation contracts expire from 2023 to 2046 and the gas supply contracts expire from 2023 to 2024. Fuel and Capacity Contract Commitments - Not Commercially Operable Sierra Pacific has several contracts for long-term purchase of electric energy in which the facility remains under development. Amounts represent the estimated payments under renewable energy power purchase contracts, which have been approved by the PUCN and are contingent upon the developers obtaining commercial operation and their ability to deliver power. Construction Commitments Sierra Pacific's construction commitments included in the table above relate to firm commitments and include costs associated with two solar photovoltaic facility projects and solar photovoltaic panels for future projects. The first project is a 250-MW solar photovoltaic facility with an additional 200 MWs of co-located battery storage that will be developed in Humboldt County, Nevada. The second project is a 350-MW solar photovoltaic facility with an additional 280 MWs of co-located battery storage that will be developed in Humboldt County, Nevada. Commercial operation has been delayed for both projects to an undetermined date. Both facilities will be jointly owned and operated by Nevada Power and Sierra Pacific. Easements Sierra Pacific has non-cancelable easements for land. Operating and maintenance expense on non-cancelable easements totaled $2 million for the years ended December 31, 2022, 2021 and 2020. Maintenance, Service and Other Contracts Sierra Pacific has long-term service agreements for the performance of maintenance on generation units. Obligation amounts are based on estimated usage. The estimated expiration of these service agreements range from 2026 to 2046. Environmental Laws and Regulations Sierra Pacific is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality, coal ash disposal and other environmental matters that have the potential to impact its current and future operations. Sierra Pacific believes it is in material compliance with all applicable laws and regulations. Legal Matters Sierra Pacific is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. Sierra Pacific does not believe that such normal and routine litigation will have a material impact on its financial results. Sierra Pacific 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. |
EEGH | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Eastern Energy Gas is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. Eastern Energy Gas believes it is in material compliance with all applicable laws and regulations. Carbon Regulations In August 2016, the EPA issued a draft rule proposing to reaffirm that a source's obligation to obtain a prevention of significant deterioration or Title V permit for greenhouse gases ("GHG") is triggered only if such permitting requirements are first triggered by non-GHG, or conventional, pollutants that are regulated by the New Source Review program, and to set a significant emissions rate at 75,000 tons per year of carbon dioxide equivalent emissions under which a source would not be required to apply best available control technology for its GHG emissions. Until the EPA ultimately takes final action on this rulemaking, Eastern Energy Gas cannot predict the impact to its results of operations, financial condition and/or cash flows. 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. Surety Bonds As of December 31, 2022, Eastern Energy Gas had purchased $19 million of surety bonds. Under the terms of the surety bonds, Eastern Energy Gas is obligated to indemnify the respective surety bond company for any amounts paid. |
EGTS | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations EGTS is subject to federal, state and local laws and regulations regarding air quality, climate change, emissions performance standards, water quality and other environmental matters that have the potential to impact its current and future operations. EGTS believes it is in material compliance with all applicable laws and regulations. Carbon Regulations In August 2016, the EPA issued a draft rule proposing to reaffirm that a source's obligation to obtain a prevention of significant deterioration or Title V permit for greenhouse gases ("GHG") is triggered only if such permitting requirements are first triggered by non-GHG, or conventional, pollutants that are regulated by the New Source Review program, and to set a significant emissions rate at 75,000 tons per year of carbon dioxide equivalent emissions under which a source would not be required to apply best available control technology for its GHG emissions. Until the EPA ultimately takes final action on this rulemaking, EGTS cannot predict the impact to its results of operations, financial condition and/or cash flows. Legal Matters EGTS is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. EGTS does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. Surety Bonds As of December 31, 2022, EGTS had purchased $16 million of surety bonds. Under the terms of the surety bonds, Eastern Energy Gas is obligated to indemnify the respective surety bond company for any amounts paid. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 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 Customer Revenue by regulated energy and nonregulated energy, with further disaggregation of regulated energy by line of business, including a reconciliation to the Company's reportable segment information included in Note 22, for the years ended December 31 (in millions): 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 $ 5,099 $ 2,320 $ 3,465 $ — $ — $ — $ — $ — $ 10,884 Retail Gas — 855 167 — — — — — 1,022 Wholesale 260 668 92 — 8 — — (4) 1,024 Transmission and 166 61 76 1,081 — 683 — — 2,067 Interstate pipeline — — — — 2,603 — — (127) 2,476 Other 102 — 2 — 3 — — (2) 105 Total Regulated 5,627 3,904 3,802 1,081 2,614 683 — (133) 17,578 Nonregulated — 7 — 169 1,076 70 866 597 2,785 Total Customer Revenue 5,627 3,911 3,802 1,250 3,690 753 866 464 20,363 Other revenue 52 114 22 115 154 (21) 128 142 706 Total $ 5,679 $ 4,025 $ 3,824 $ 1,365 $ 3,844 $ 732 $ 994 $ 606 $ 21,069 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 $ 4,847 $ 2,128 $ 2,828 $ — $ — $ — $ — $ (2) $ 9,801 Retail Gas — 859 115 — — — — — 974 Wholesale 157 454 62 — 57 — — (3) 727 Transmission and 143 58 74 1,023 — 702 — — 2,000 Interstate pipeline — — — — 2,404 — — (131) 2,273 Other 108 — 1 — (1) — — 1 109 Total Regulated 5,255 3,499 3,080 1,023 2,460 702 — (135) 15,884 Nonregulated — 15 3 43 956 35 796 576 2,424 Total Customer Revenue 5,255 3,514 3,083 1,066 3,416 737 796 441 18,308 Other revenue 41 33 24 122 128 (6) 185 100 627 Total $ 5,296 $ 3,547 $ 3,107 $ 1,188 $ 3,544 $ 731 $ 981 $ 541 $ 18,935 2020 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail Electric $ 4,932 $ 1,924 $ 2,566 $ — $ — $ — $ — $ (1) $ 9,421 Retail Gas — 505 114 — — — — — 619 Wholesale 107 199 45 — 17 — — (2) 366 Transmission and 96 60 95 887 — 641 — — 1,779 Interstate pipeline — — — — 1,397 — — (139) 1,258 Other 108 — 2 — — — — — 110 Total Regulated 5,243 2,688 2,822 887 1,414 641 — (142) 13,553 Nonregulated — 16 2 26 134 18 817 515 1,528 Total Customer Revenue 5,243 2,704 2,824 913 1,548 659 817 373 15,081 Other revenue 98 24 30 109 30 — 119 65 475 Total $ 5,341 $ 2,728 $ 2,854 $ 1,022 $ 1,578 $ 659 $ 936 $ 438 $ 15,556 (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 for the years ended December 31 (in millions): HomeServices 2022 2021 2020 Customer Revenue: Brokerage $ 4,867 $ 5,498 $ 4,520 Franchise 66 85 76 Total Customer Revenue 4,933 5,583 4,596 Mortgage and other revenue 335 632 800 Total $ 5,268 $ 6,215 $ 5,396 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 December 31, 2022, by reportable segment (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,835 $ 20,619 $ 23,454 BHE Transmission 679 — 679 Total $ 3,514 $ 20,619 $ 24,133 |
PAC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes PacifiCorp's Customer Revenue by line of business, with further disaggregation of retail by customer class, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Retail: Residential $ 2,013 $ 1,914 $ 1,910 Commercial 1,645 1,559 1,578 Industrial 1,163 1,125 1,185 Other retail 278 249 259 Total retail 5,099 4,847 4,932 Wholesale 260 157 107 Transmission 166 143 96 Other Customer Revenue 102 108 108 Total Customer Revenue 5,627 5,255 5,243 Other revenue 52 41 98 Total operating revenue $ 5,679 $ 5,296 $ 5,341 |
MEC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers MidAmerican Energy uses a single five-step model to identify and recognize Customer Revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The following table summarizes MidAmerican Energy's revenue by line of business and customer class, including a reconciliation to MidAmerican Energy's reportable segment information included in Note 19, (in millions): For the Year Ended December 31, 2022 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 765 $ 555 $ — $ 1,320 Commercial 354 216 — 570 Industrial 1,047 38 — 1,085 Natural gas transportation services — 44 — 44 Other retail 154 2 — 156 Total retail 2,320 855 — 3,175 Wholesale 495 173 — 668 Multi-value transmission projects 61 — — 61 Other Customer Revenue — — 7 7 Total Customer Revenue 2,876 1,028 7 3,911 Other revenue 112 2 — 114 Total operating revenue $ 2,988 $ 1,030 $ 7 $ 4,025 For the Year Ended December 31, 2021 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 718 $ 564 $ — $ 1,282 Commercial 327 223 — 550 Industrial 934 30 — 964 Natural gas transportation services — 39 — 39 Other retail 149 3 — 152 Total retail 2,128 859 — 2,987 Wholesale 312 142 — 454 Multi-value transmission projects 58 — — 58 Other Customer Revenue — — 15 15 Total Customer Revenue 2,498 1,001 15 3,514 Other revenue 31 2 — 33 Total operating revenue $ 2,529 $ 1,003 $ 15 $ 3,547 For the Year Ended December 31, 2020 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 685 $ 342 $ — $ 1,027 Commercial 304 111 — 415 Industrial 804 14 — 818 Natural gas transportation services — 36 — 36 Other retail 131 2 — 133 Total retail 1,924 505 — 2,429 Wholesale 133 66 — 199 Multi-value transmission projects 60 — — 60 Other Customer Revenue — — 8 8 Total Customer Revenue 2,117 571 8 2,696 Other revenue 22 2 — 24 Total operating revenue $ 2,139 $ 573 $ 8 $ 2,720 |
MidAmerican Funding, LLC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with CustomersRefer to Note 14 of MidAmerican Energy's Notes to Financial Statements. Additionally, MidAmerican Funding had $— million, $— million and $8 million of other revenue from contracts with customers for the year ended December 31, 2022, 2021 and 2020, respectively. |
NPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenues from Contracts with Customers The following table summarizes Nevada Power's Customer Revenue by customer class for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Retail: Residential $ 1,440 $ 1,207 $ 1,145 Commercial 525 414 384 Industrial 528 386 345 Other 14 14 12 Total fully bundled 2,507 2,021 1,886 Distribution-only service 20 22 24 Total retail 2,527 2,043 1,910 Wholesale, transmission and other 82 74 62 Total Customer Revenue 2,609 2,117 1,972 Other revenue 21 22 26 Total operating revenue $ 2,630 $ 2,139 $ 1,998 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenues from Contracts with Customers The following table summarizes Sierra Pacific's Customer Revenue by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 18, for the years ended December 31 (in millions): 2022 2021 2020 Electric Natural Gas Total Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 365 $ 105 $ 470 $ 307 $ 76 $ 383 $ 273 $ 76 $ 349 Commercial 333 45 378 267 29 296 233 29 262 Industrial 229 16 245 202 10 212 170 9 179 Other 6 1 7 5 — 5 5 — 5 Total fully bundled 933 167 1,100 781 115 896 681 114 795 Distribution only service 5 — 5 3 — 3 4 — 4 Total retail 938 167 1,105 784 115 899 685 114 799 Wholesale, transmission and other 86 — 86 62 — 62 50 — 50 Total Customer Revenue 1,024 167 1,191 846 115 961 735 114 849 Other revenue 1 1 2 2 2 4 3 2 5 Total operating revenue $ 1,025 $ 168 $ 1,193 $ 848 $ 117 $ 965 $ 738 $ 116 $ 854 |
EEGH | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes Eastern Energy Gas' Customer Revenue by regulated and nonregulated, with further disaggregation of regulated by line of business, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Regulated: Gas transmission and storage $ 1,179 $ 1,044 $ 1,242 Wholesale 8 57 43 Other 1 (2) 4 Total regulated 1,188 1,099 1,289 Nonregulated 821 767 798 Total Customer Revenue 2,009 1,866 2,087 Other revenue (1) (3) 4 3 Total operating revenue $ 2,006 $ 1,870 $ 2,090 (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 December 31, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,694 $ 15,598 $ 17,292 |
EGTS | |
Disaggregation of Revenue [Line Items] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The following table summarizes EGTS' Customer Revenue by regulated and other, with further disaggregation of regulated by line of business, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Regulated: Gas transmission $ 644 $ 574 $ 583 Gas storage 248 188 191 Wholesale 8 57 41 Total regulated 900 819 815 Management services and other revenues 79 73 100 Total Customer Revenue 979 892 915 Other revenue (1) (6) (1) 1 Total operating revenue $ 973 $ 891 $ 916 (1) Other revenue consists primarily of revenue recognized in accordance with Accounting Standards Codification 815, "Derivative and Hedging" and includes unrealized gains and losses for derivatives not designated as hedges related to natural gas sales contracts. Remaining Performance Obligations The following table summarizes EGTS' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of December 31, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 766 $ 3,431 $ 4,197 |
BHE Shareholders' Equity
BHE Shareholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
BHE Shareholders' Equity | BHE Shareholders' Equity Preferred Stock As of December 31, 2022 and 2021, BHE had 849,982 and 1,649,988 shares outstanding of its Perpetual Preferred Stock (the "4% Perpetual Preferred Stock") issued to certain subsidiaries of Berkshire Hathaway Inc. The 4% Perpetual Preferred Stock has a liquidation preference of $1,000 per share and currently pays a 4.00% dividend per share on the liquidation preference. Dividends shall accrue and accumulate daily, be cumulative, compound semi-annually and, if declared, be payable in cash semi-annually in arrears on May 15 and November 15 of each year. If dividends are not declared and paid, any accumulating dividends shall continue to accumulate and compound. BHE may not make any dividends on shares of any other class or series of its capital stock (other than for dividends on shares of common stock payable in shares of common stock, unless the holders of the then outstanding 4% Perpetual Preferred Stock shall first receive, or simultaneously receive, a dividend in an amount at least equivalent to the amount accumulated and not previously paid. BHE may not declare or pay any dividends on shares of the 4% Perpetual Preferred Stock if such declaration or payment would constitute an event of default on BHE's senior indebtedness (as defined). BHE may, at its option, redeem the 4% Perpetual Preferred Stock in whole or in part at any time at a price per share equal to the liquidation preference. Common Stock On March 14, 2000, and as amended on December 7, 2005, BHE's shareholders entered into a Shareholder Agreement that provides specific rights to certain shareholders. One of these rights allows certain shareholders the ability to put their common shares to BHE at the then-current fair value dependent on certain circumstances controlled by BHE. 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. Restricted Net Assets BHE has maximum debt-to-total capitalization percentage restrictions imposed by its senior unsecured credit facilities expiring in June 2025 which, in certain circumstances, limit BHE's ability to make cash dividends or distributions. As a result of this restriction, BHE has restricted net assets of $18.8 billion as of December 31, 2022. Certain of BHE's subsidiaries have restrictions on their ability to dividend, loan or advance funds to BHE due to specific legal or regulatory restrictions, including, but not limited to, maximum debt-to-total capitalization percentages and commitments made to state commissions. As a result of these restrictions, BHE's subsidiaries had restricted net assets of $20.4 billion as of December 31, 2022. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2022 | |
PAC | |
Class of Stock [Line Items] | |
Preferred Stock | Preferred Stock PacifiCorp has 3,500 thousand shares of Serial Preferred Stock authorized at the stated value of $100 per share. PacifiCorp had 24 thousand shares of Serial Preferred Stock issued and outstanding as of December 31, 2022 and 2021. The outstanding preferred stock series are non-redeemable and have annual dividend rates of 6.00% and 7.00%. In the event of voluntary liquidation, all preferred stock is entitled to stated value or a specified preference amount per share plus accrued dividends. Upon involuntary liquidation, all preferred stock is entitled to stated value plus accrued dividends. Dividends on all preferred stock are cumulative. Holders also have the right to elect members to the PacifiCorp Board of Directors in the event dividends payable are in default in an amount equal to four full quarterly payments. PacifiCorp also has 16 million shares of No Par Serial Preferred Stock and 127 thousand shares of 5% Preferred Stock authorized, but no shares were issued or outstanding as of December 31, 2022 and 2021. |
Common Shareholder's Equity
Common Shareholder's Equity | 12 Months Ended |
Dec. 31, 2022 | |
Class of Stock [Line Items] | |
Common Shareholder's Equity | BHE Shareholders' Equity Preferred Stock As of December 31, 2022 and 2021, BHE had 849,982 and 1,649,988 shares outstanding of its Perpetual Preferred Stock (the "4% Perpetual Preferred Stock") issued to certain subsidiaries of Berkshire Hathaway Inc. The 4% Perpetual Preferred Stock has a liquidation preference of $1,000 per share and currently pays a 4.00% dividend per share on the liquidation preference. Dividends shall accrue and accumulate daily, be cumulative, compound semi-annually and, if declared, be payable in cash semi-annually in arrears on May 15 and November 15 of each year. If dividends are not declared and paid, any accumulating dividends shall continue to accumulate and compound. BHE may not make any dividends on shares of any other class or series of its capital stock (other than for dividends on shares of common stock payable in shares of common stock, unless the holders of the then outstanding 4% Perpetual Preferred Stock shall first receive, or simultaneously receive, a dividend in an amount at least equivalent to the amount accumulated and not previously paid. BHE may not declare or pay any dividends on shares of the 4% Perpetual Preferred Stock if such declaration or payment would constitute an event of default on BHE's senior indebtedness (as defined). BHE may, at its option, redeem the 4% Perpetual Preferred Stock in whole or in part at any time at a price per share equal to the liquidation preference. Common Stock On March 14, 2000, and as amended on December 7, 2005, BHE's shareholders entered into a Shareholder Agreement that provides specific rights to certain shareholders. One of these rights allows certain shareholders the ability to put their common shares to BHE at the then-current fair value dependent on certain circumstances controlled by BHE. 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. Restricted Net Assets BHE has maximum debt-to-total capitalization percentage restrictions imposed by its senior unsecured credit facilities expiring in June 2025 which, in certain circumstances, limit BHE's ability to make cash dividends or distributions. As a result of this restriction, BHE has restricted net assets of $18.8 billion as of December 31, 2022. Certain of BHE's subsidiaries have restrictions on their ability to dividend, loan or advance funds to BHE due to specific legal or regulatory restrictions, including, but not limited to, maximum debt-to-total capitalization percentages and commitments made to state commissions. As a result of these restrictions, BHE's subsidiaries had restricted net assets of $20.4 billion as of December 31, 2022. |
PAC | |
Class of Stock [Line Items] | |
Common Shareholder's Equity | Common Shareholder's Equity Through PPW Holdings, BHE is the sole shareholder of PacifiCorp's common stock. The state regulatory orders that authorized BHE's acquisition of PacifiCorp contain restrictions on PacifiCorp's ability to pay dividends to the extent that they would reduce PacifiCorp's common equity below specified percentages of defined capitalization. As of December 31, 2022, the most restrictive of these commitments prohibits PacifiCorp from making any distribution to PPW Holdings or BHE without prior state regulatory approval to the extent that it would reduce PacifiCorp's common equity below 44% of its total capitalization, excluding short-term debt and current maturities of long-term debt. As of December 31, 2022, PacifiCorp's actual common equity percentage, as calculated under this measure, was 54%, and PacifiCorp would have been permitted to dividend $3.5 billion under this commitment. These commitments also restrict PacifiCorp from making any distributions to either PPW Holdings or BHE if PacifiCorp's senior unsecured debt rating is BBB- or lower by Standard & Poor's Rating Services or Fitch Ratings, or Baa3 or lower by Moody's Investor Service, as indicated by two of the three rating services. As of December 31, 2022, PacifiCorp met the minimum required senior unsecured debt ratings for making distributions. PacifiCorp is also subject to a maximum debt-to-total capitalization percentage under various financing agreements as further discussed in Note 7. In January 2023, PacifiCorp declared dividends of $300 million payable to PPW Holdings LLC in February 2023. |
MEC | |
Class of Stock [Line Items] | |
Common Shareholder's Equity | Shareholder's EquityIn 2022, MidAmerican Energy paid $275 million in cash dividends to its parent company, MHC. In January 2023, MidAmerican Energy paid $100 million in cash dividends to its parent company, MHC. |
Member's Equity
Member's Equity | 12 Months Ended |
Dec. 31, 2022 | |
MidAmerican Funding, LLC | |
Class of Stock [Line Items] | |
Member's Equity | Member's EquityIn 2022, MidAmerican Funding paid a $69 million cash distribution to its parent company, BHE. In January 2023, MidAmerican Funding paid a $100 million cash distribution to its parent company, BHE. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of accumulated other comprehensive income (loss) | |
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 attributable to BHE shareholders by each component of other comprehensive income (loss), net of applicable income taxes, for the year ended December 31 (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency Gains (Losses) Attributable Retirement Translation on Cash Flow Noncontrolling To BHE Benefits Adjustment Hedges Interests Shareholders, Net Balance, December 31, 2019 $ (417) $ (1,296) $ 7 $ — $ (1,706) Other comprehensive (loss) income (65) 234 (15) — 154 BHE GT&S acquisition (10) — — 10 — Balance, December 31, 2020 (492) (1,062) (8) 10 (1,552) Other comprehensive income (loss) 174 (24) 67 (5) 212 Balance, December 31, 2021 (318) (1,086) 59 5 (1,340) Other comprehensive (loss) income (72) (810) 76 (3) (809) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) Reclassifications from AOCI to net income for the years ended December 31, 2022, 2021 and 2020 were insignificant. Additionally, refer to the "Foreign Operations" discussion in Note 13 for information about unrecognized amounts on retirement benefits reclassifications from AOCI that do not impact net income in their entirety. |
PAC | |
Schedule of accumulated other comprehensive income (loss) | |
Components of Accumulated Other Comprehensive Loss, Net | Components of Accumulated Other Comprehensive Loss, NetAccumulated other comprehensive loss, net consists of unrecognized amounts on retirement benefits, net of tax, of $9 million and $17 million as of December 31, 2022 and 2021, respectively. |
EEGH | |
Schedule of accumulated other comprehensive income (loss) | |
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 taxes, for the year ended December 31 (in millions): Unrecognized Unrealized Accumulated Amounts On Losses On Other Retirement Cash Flow Noncontrolling Comprehensive Benefits Hedges Interests Loss, Net Balance, December 31, 2019 $ (106) $ (81) $ — $ (187) Other comprehensive income 94 30 10 134 Balance, December 31, 2020 (12) (51) 10 (53) Other comprehensive income (loss) 6 9 (5) 10 Balance, December 31, 2021 (6) (42) 5 (43) Other comprehensive income (loss) 5 (1) (3) 1 Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) The following table shows the reclassifications from AOCI to net income for the year ended December 31 (in millions): Amounts Affected Line Item In The Reclassified Consolidated Statements From AOCI of Operations 2022 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 3 Interest expense Foreign currency contracts 1 Other, net Total 4 Tax (1) Income tax expense (benefit) Total, net of tax $ 3 2021 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 6 Interest expense Foreign currency contracts 21 Other, net Total 27 Tax (7) Income tax expense (benefit) Total, net of tax $ 20 2020 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 157 Interest expense Foreign currency contracts (25) Other, net Total 132 Tax (34) Income tax expense (benefit) Total, net of tax $ 98 Unrecognized pension costs: Actuarial losses $ 6 Other, net Total 6 Tax (2) Income tax expense (benefit) Total, net of tax $ 4 The following table presents selected information related to losses on cash flow hedges included in AOCI in Eastern Energy Gas' Consolidated Balance Sheet as of December 31, 2022 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (37) $ (3) 264 months Foreign currency (6) (4) 42 months Total $ (43) $ (7) The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., interest payments) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in interest rates and foreign currency exchange rates. |
Other Income (Expense)
Other Income (Expense) | 12 Months Ended |
Dec. 31, 2022 | |
MEC | |
Component of Other Income (Expense), Nonoperating [Line Items] | |
Other Income (Expense) | Other Income (Expense) Other, net, as shown on the Statements of Operations, includes the following other income (expense) items for the years ended December 31 (in millions): 2022 2021 2020 Non-service cost components of postretirement employee benefit plans $ 9 $ 26 $ 24 Corporate-owned life insurance (loss) income (16) 21 16 Gains on disposition of assets — — 6 Interest income and other, net 7 6 6 Total $ — $ 53 $ 52 |
MidAmerican Funding, LLC | |
Component of Other Income (Expense), Nonoperating [Line Items] | |
Other Income (Expense) | Other Income (Expense) Other, net, as shown on the Consolidated Statements of Operations, includes the following other income (expense) items for the years ended December 31 (in millions): 2022 2021 2020 Non-service cost components of postretirement employee benefit plans $ 9 $ 26 $ 24 Corporate-owned life insurance (loss) income (16) 21 16 Gains on disposition of assets — — 6 Interest income and other, net 7 7 6 Total $ — $ 54 $ 52 |
Variable Interest Entities and
Variable Interest Entities and Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Equity Method Investments [Line Items] | |
Variable Interest Entities and Noncontrolling Interests | Variable Interest Entities and Noncontrolling Interests The primary beneficiary of a VIE is required to consolidate the VIE and to disclose certain information about its significant variable interests in the VIE. The primary beneficiary of a VIE is the entity that has both (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. As part of the GT&S Transaction, BHE acquired an indirect 25% economic interest in Cove Point, consisting of 100% of the general partnership interest and 25% of the total limited partnership interests. BHE concluded that Cove Point is a VIE due to the limited partners lacking the characteristics of a controlling financial interest. BHE is the primary beneficiary of Cove Point as it has the power to direct the activities that most significantly impact its economic performance as well as the obligation to absorb losses and benefits which could be significant to it. Included in noncontrolling interests on the Consolidated Balance Sheets are (i) Dominion Energy's 50% interest in Cove Point and Brookfield Super-Core Infrastructure Partner's 25% interest in Cove Point and (ii) preferred securities of subsidiaries of $58 million as of December 31, 2022 and 2021, consisting of $56 million of 8.061% cumulative preferred securities of Northern Electric plc, a subsidiary of Northern Powergrid, which are redeemable in the event of the revocation of Northern Electric plc's electricity distribution license by the Secretary of State, and $2 million of nonredeemable preferred stock of PacifiCorp. |
PAC | |
Schedule of Equity Method Investments [Line Items] | |
Variable Interest Entities | Variable Interest EntitiesPacifiCorp holds a 66.67% interest in Bridger Coal Company ("Bridger Coal"), which supplies coal to the Jim Bridger generating facility that is owned 66.67% by PacifiCorp and 33.33% by PacifiCorp's joint venture partner in Bridger Coal. PacifiCorp purchases 66.67% of the coal produced by Bridger Coal, while the joint venture partner purchases the remaining 33.33% of the coal produced. The power to direct the activities that most significantly impact Bridger Coal's economic performance are shared with the joint venture partner. Each joint venture partner is jointly and severally liable for the obligations of Bridger Coal. Bridger Coal's necessary working capital to carry out its mining operations is financed by contributions from PacifiCorp and its joint venture partner. PacifiCorp's equity investment in Bridger Coal was $28 million and $45 million as of December 31, 2022 and 2021, respectively. Refer to Note 21 for information regarding related party transactions with Bridger Coal. |
EEGH | |
Schedule of Equity Method Investments [Line Items] | |
Variable Interest Entities and Noncontrolling Interests | Variable Interest Entities and Noncontrolling Interests The primary beneficiary of a VIE is required to consolidate the VIE and to disclose certain information about its significant variable interests in the VIE. The primary beneficiary of a VIE is the entity that has both 1) the power to direct the activities that most significantly impact the entity's economic performance and 2) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. In November 2019, DEI contributed to Eastern Energy Gas a 75% controlling limited partner interest in Cove Point. In December 2019, DEI sold its retained 25% noncontrolling limited partner interest in Cove Point. As discussed in Note 3, as part of the GT&S Transaction, Eastern Energy Gas finalized a restructuring which included the disposition of a 50% noncontrolling interest in Cove Point to DEI, which resulted in Eastern Energy Gas owning 100% of the general partner interest and 25% of the limited partnership interest in Cove Point. Eastern Energy Gas concluded that Cove Point is a VIE due to the limited partners lacking the characteristics of a controlling financial interest. Eastern Energy Gas is the primary beneficiary of Cove Point as it has the power to direct the activities that most significantly impact its economic performance as well as the obligation to absorb losses and benefits which could be significant to it. Eastern Energy Gas purchased shared services from Carolina Gas Services, Inc. ("Carolina Gas Services") an affiliated VIE, of $12 million for each of the years ended December 31, 2022, 2021 and 2020. Eastern Energy Gas' Consolidated Balance Sheets included amounts due to Carolina Gas Services of $1 million and $7 million as of December 31, 2022 and 2021, respectively. Eastern Energy Gas determined that neither it nor any of its consolidated entities is the primary beneficiary of Carolina Gas Services as neither it nor any of its consolidated entities has both the power to direct the activities that most significantly impact its economic performance as well as the obligation to absorb losses and benefits which could be significant to them. Carolina Gas Services provides marketing and operational services. Neither Eastern Energy Gas nor any of its consolidated entities has any obligation to absorb more than its allocated share of Carolina Gas Services costs. Prior to the GT&S Transaction, Eastern Energy Gas purchased shared services from Dominion Energy Questar Pipeline Services, Inc. ("DEQPS"), an affiliated VIE, of $23 million for the year ended December 31, 2020. Eastern Energy Gas determined that neither it nor any of its consolidated entities was the primary beneficiary of DEQPS, as neither it nor any of its consolidated entities has both the power to direct the activities that most significantly impact their economic performance as well as the obligation to absorb losses and benefits which could be significant to them. DEQPS provided marketing and operational services. Neither Eastern Energy Gas nor any of its consolidated entities had any obligation to absorb more than its allocated share of DEQPS costs. Prior to the GT&S Transaction, Eastern Energy Gas purchased shared services from Dominion Energy Services, Inc. ("DES"), an affiliated VIE, of $90 million for the year ended December 31, 2020. Eastern Energy Gas determined that neither it nor any of its consolidated entities was the primary beneficiary of DES as neither it nor any of its consolidated entities had both the power to direct the activities that most significantly impact their economic performance as well as the obligation to absorb losses and benefits which could be significant to them. DES provided accounting, legal, finance and certain administrative and technical services. Neither Eastern Energy Gas nor any of its consolidated entities had any obligation to absorb more than its allocated share of DES costs. Included in noncontrolling interests in the Consolidated Financial Statements are DEI's 50% interest in Cove Point (effective November 2020) and Brookfield Super-Core Infrastructure Partner's 25% interest in Cove Point. |
EGTS | |
Schedule of Equity Method Investments [Line Items] | |
Variable Interest Entities | Variable Interest Entities The primary beneficiary of a variable interest entity ("VIE") is required to consolidate the VIE and to disclose certain information about its significant variable interests in the VIE. The primary beneficiary of a VIE is the entity that has both: (1) the power to direct the activities that most significantly impact the entity's economic performance and (2) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. EGTS had been engaged to oversee the construction of, and to subsequently operate and maintain, the projects undertaken by Atlantic Coast Pipeline based on the overall direction and oversight of Atlantic Coast Pipeline's members. Prior to the GT&S Transaction, an affiliate of EGTS held a membership interest in Atlantic Coast Pipeline; therefore, EGTS was considered to have a variable interest in Atlantic Coast Pipeline. Prior to the cancellation of the project in 2020, the members of Atlantic Coast Pipeline held the power to direct the construction, operations and maintenance activities of the entity. EGTS concluded it was not the primary beneficiary of Atlantic Coast Pipeline as it did not have the power to direct the activities of Atlantic Coast Pipeline that most significantly impacted its economic performance. EGTS had no obligation to absorb any losses of the VIE. Prior to the GT&S Transaction, EGTS purchased shared services from Dominion Energy Services, Inc. ("DES"), an affiliated VIE, of $53 million for the year ended December 31, 2020. EGTS determined that neither it nor any of its consolidated entities was the primary beneficiary of DES as neither it nor any of its consolidated entities had both the power to direct the activities that most significantly impact their economic performance as well as the obligation to absorb losses and benefits which could be significant to them. DES provided accounting, legal, finance and certain administrative and technical services. Neither EGTS nor any of its consolidated entities had any obligation to absorb more than its allocated share of DES costs. |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,071 $ 2,041 $ 1,855 Income taxes received, net (1) $ 1,863 $ 1,309 $ 1,361 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 1,049 $ 834 $ 801 (1) Includes $1,961 million, $1,441 million and $1,504 million of income taxes received from Berkshire Hathaway in 2022, 2021 and 2020, respectively. |
PAC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 380 $ 395 $ 348 Income taxes (received) paid, net $ (185) $ (120) $ 107 Supplemental disclosure of non-cash investing and financing activities: Accruals related to property, plant and equipment additions $ 558 $ 254 $ 344 |
MEC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 292 $ 279 $ 286 Income taxes received, net $ 840 $ 746 $ 709 Supplemental disclosure of non-cash investing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
MidAmerican Funding, LLC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Information The summary of supplemental cash flow information as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 309 $ 296 $ 302 Income taxes received, net $ 845 $ 751 $ 715 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
NPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 121 $ 115 $ 115 Income taxes (refunded) paid $ (29) $ 63 $ 50 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 98 $ 53 $ 32 |
SPPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 45 $ 41 $ 42 Income taxes (refunded) paid $ (1) $ (3) $ 2 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 57 $ 27 $ 17 |
EEGH | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 143 $ 144 $ 317 Income taxes paid (received), net $ 2 $ (60) $ 31 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 29 $ 42 $ 30 Equity distributions (1) $ (42) $ (137) $ — Equity contributions (1) $ 98 $ 73 $ — Distribution of Questar Pipeline Group $ — $ — $ (699) Distribution of 50% interest in Cove Point $ — $ — $ (2,765) Acquisition of Eastern Energy Gas by BHE $ — $ — $ 343 (1) Amounts primarily represent the forgiveness of affiliated receivables/payables. |
EGTS | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 67 $ 71 $ 82 Income taxes paid (received), net $ 2 $ (12) $ 58 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 15 $ 29 $ 25 Equity dividends (1) $ (21) $ (58) $ — Equity contributions (2) $ 34 $ 292 $ — Acquisition of EGTS by BHE $ — $ — $ 40 (1) Equity dividends represents the forgiveness of affiliated receivables. (2) Equity contributions for the year ended December 31, 2021 primarily reflect the impacts from the intercompany debt exchange with Eastern Energy Gas. See Note 9 for more information regarding the intercompany debt exchange with Eastern Energy Gas. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
PAC | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions PacifiCorp has an intercompany administrative services agreement and a mutual assistance agreement with BHE and its subsidiaries. Amounts charged to PacifiCorp by BHE and its subsidiaries under these agreements totaled $123 million, $70 million and $14 million during the years ended December 31, 2022, 2021 and 2020, respectively. Amounts charged to PacifiCorp in 2022 and 2021 were primarily reflected in construction work in progress on the Consolidated Balance Sheets as of December 31, 2022 and 2021. Payables associated with the charges were $16 million and $9 million as of December 31, 2022 and 2021, respectively. Amounts charged by PacifiCorp to BHE and its subsidiaries under these agreements totaled $23 million, $8 million and $5 million during the years ended December 31, 2022, 2021 and 2020, respectively. Such amounts primarily relate to information technology projects and other costs managed at a consolidated level and allocated or passed through to affiliates. PacifiCorp also engages in various transactions with several subsidiaries of BHE in the ordinary course of business. Services provided by these subsidiaries in the ordinary course of business and charged to PacifiCorp primarily relate to wholesale electricity purchases and transmission of electricity, transportation of natural gas and employee relocation services. These expenses totaled $8 million, $6 million and $6 million during the years ended December 31, 2022, 2021 and 2020, respectively. PacifiCorp has long-term transportation contracts with BNSF Railway Company, an indirect wholly owned subsidiary of Berkshire Hathaway, PacifiCorp's ultimate parent company. Transportation costs under these contracts were $21 million, $19 million and $29 million during the years ended December 31, 2022, 2021 and 2020, respectively. PacifiCorp has a long-term master materials supply contract with Marmon Utility, LLC, an indirect wholly owned subsidiary of a holding company in which Berkshire Hathaway holds a majority interest. Materials and supplies purchased under this contract were $8 million, $2 million and $3 million during the years ended December 31, 2022, 2021 and 2020, respectively. PacifiCorp is party to a tax-sharing agreement and is part of the Berkshire Hathaway consolidated U.S. federal income tax return. Federal and state income taxes receivable from BHE were $84 million and $48 million as of December 31, 2022 and 2021, respectively. For the years ended December 31, 2022 and 2021, cash refunded from BHE for federal and state income taxes totaled $185 million and $120 million, respectively. For the year ended December 31, 2020, cash paid to BHE for federal and state income taxes totaled $107 million. PacifiCorp transacts with its equity investees, Bridger Coal and Trapper Mining Inc. Services provided by equity investees to PacifiCorp primarily relate to coal purchases. During the years ended December 31, 2022, 2021 and 2020, coal purchases from PacifiCorp's equity investees totaled $119 million, $148 million and $145 million, respectively. Payables to PacifiCorp's equity investees were $10 million and $7 million as of December 31, 2022 and 2021, respectively. |
MEC | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions The companies identified as affiliates of MidAmerican Energy are Berkshire Hathaway and its subsidiaries, including BHE and its subsidiaries. The basis for the following transactions is provided for in service agreements between MidAmerican Energy and the affiliates. MidAmerican Energy is reimbursed for charges incurred on behalf of its affiliates. The majority of these reimbursed expenses are for general costs, such as insurance and building rent, and for employee wages, benefits and costs related to corporate functions such as information technology, human resources, treasury, legal and accounting. The amount of such reimbursements was $78 million, $66 million and $47 million for 2022, 2021 and 2020, respectively. MidAmerican Energy reimbursed BHE in the amount of $79 million, $72 million and $15 million in 2022, 2021 and 2020, respectively, for its share of corporate expenses and other costs. Amounts charged to MidAmerican Energy in 2022 and 2021 were primarily reflected in construction work-in-progress on the Balance Sheets as of December 31, 2022 and 2021. MidAmerican Energy purchases, in the normal course of business at either tariffed or market prices, natural gas transportation and storage capacity services from Northern Natural Gas Company, a wholly owned subsidiary of BHE, and coal transportation services from BNSF Railway Company, an indirect wholly owned subsidiary of Berkshire Hathaway. These purchases totaled $141 million, $132 million and $129 million in 2022, 2021 and 2020, respectively. Additionally, in 2020, MidAmerican Energy paid $7 million to BHE Renewables, LLC, a wholly owned subsidiary of BHE, for the purchase of wind turbine components. MidAmerican Energy had accounts receivable from affiliates of $9 million and $10 million as of December 31, 2022 and 2021, respectively, that are included in other current assets on the Balance Sheets. MidAmerican Energy also had accounts payable to affiliates of $22 million and $17 million as of December 31, 2022 and 2021, respectively, that are included in accounts payable on the Balance Sheets. MidAmerican Energy is party to a tax-sharing agreement and is part of the Berkshire Hathaway consolidated U.S. federal income tax return. For current federal and state income taxes, MidAmerican Energy had a receivable from BHE of $42 million and $79 million as of December 31, 2022 and 2021, respectively. MidAmerican Energy received net cash payments for federal and state income taxes from BHE totaling $840 million, $746 million and $709 million for the years ended December 31, 2022, 2021 and 2020, respectively. MidAmerican Energy recognizes the full amount of the funded status for its pension and postretirement plans, and amounts attributable to MidAmerican Energy's affiliates that have not previously been recognized through income are recognized as an intercompany balance with such affiliates. MidAmerican Energy adjusts these balances when changes to the funded status of the respective plans are recognized and does not intend to settle the balances currently. Amounts receivable from affiliates attributable to the funded status of employee benefit plans totaled $79 million and $124 million as of December 31, 2022 and 2021, respectively, and are included in other assets on the Balance Sheets. Similar amounts payable to affiliates totaled $40 million and $63 million as of December 31, 2022 and 2021, respectively, and are included in other long-term liabilities on the Balance Sheets. See Note 10 for further information pertaining to pension and postretirement accounting. |
MidAmerican Funding, LLC | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions The companies identified as affiliates of MidAmerican Funding are Berkshire Hathaway and its subsidiaries, including BHE and its subsidiaries. The basis for the following transactions is provided for in-service agreements between MidAmerican Funding and the affiliates. MidAmerican Funding is reimbursed for charges incurred on behalf of its affiliates. The majority of these reimbursed expenses are for allocated general costs, such as insurance and building rent, and for employee wages, benefits and costs for corporate functions, such as information technology, human resources, treasury, legal and accounting. The amount of such reimbursements was $77 million, $65 million and $46 million for 2022, 2021 and 2020, respectively. MidAmerican Funding reimbursed BHE in the amount of $79 million, $72 million and $15 million in 2022, 2021 and 2020, respectively, for its share of corporate expenses and other costs. Amounts charged to MidAmerican Funding in 2022 and 2021 were primarily reflected in construction work-in-progress on the Consolidated Balance Sheets as of December 31, 2022 and 2021. MidAmerican Energy purchases, in the normal course of business at either tariffed or market prices. natural gas transportation and storage capacity services from Northern Natural Gas Company, a wholly owned subsidiary of BHE and coal transportation services from BNSF Railway Company, a wholly-owned subsidiary of Berkshire Hathaway. These purchases totaled $141 million, $132 million and $129 million in 2022, 2021 and 2020, respectively. Additionally, in 2020, MidAmerican Energy paid $7 million to BHE Renewables, LLC, a wholly owned subsidiary of BHE, for the purchase of wind turbine components. MHC has a $300 million revolving credit arrangement carrying interest at SOFR, plus a spread to borrow from BHE. Outstanding balances are unsecured and due on demand. The outstanding balance was $— million as of December 31, 2022, and $189 million at an interest rate of 0.353% as of December 31, 2021, and is reflected as note payable to affiliate on the Consolidated Balance Sheet. During 2022, MHC received $275 million in the form of a dividend from MidAmerican Energy that was used to pay off the note payable to BHE. BHE has a $100 million revolving credit arrangement, carrying interest at SOFR, plus a spread to borrow from MHC. Outstanding balances are unsecured and due on demand. There were no borrowings outstanding throughout 2022 and 2021. MidAmerican Funding had accounts receivable from affiliates of $10 million and $11 million as of December 31, 2022 and 2021, respectively, that are included in other current assets on the Consolidated Balance Sheets. MidAmerican Funding also had accounts payable to affiliates of $22 million and $17 million as of December 31, 2022 and 2021, respectively, that are included in accounts payable on the Consolidated Balance Sheets. MidAmerican Funding is party to a tax-sharing agreement and is part of the Berkshire Hathaway consolidated U.S. federal income tax return. For current federal and state income taxes, MidAmerican Funding had a receivable from BHE of $43 million and $80 million as of December 31, 2022 and 2021, respectively. MidAmerican Funding received net cash payments for federal and state income taxes from BHE totaling $845 million, $751 million and $715 million for the years ended December 31, 2022, 2021 and 2020, respectively. MidAmerican Funding recognizes the full amount of the funded status for its pension and postretirement plans, and amounts attributable to MidAmerican Funding's affiliates that have not previously been recognized through income are recognized as an intercompany balance with such affiliates. MidAmerican Funding adjusts these balances when changes to the funded status of the respective plans are recognized and does not intend to settle the balances currently. Amounts receivable from affiliates attributable to the funded status of employee benefit plans totaled $79 million and $124 million as of December 31, 2022 and 2021, respectively, and are included in other assets on the Consolidated Balance Sheets. Similar amounts payable to affiliates totaled $40 million and $63 million as of December 31, 2022 and 2021, respectively, and are included in other long-term liabilities on the Consolidated Balance Sheets. See Note 10 for further information pertaining to pension and postretirement accounting. The indenture pertaining to MidAmerican Funding's long-term debt restricts MidAmerican Funding from paying a distribution on its equity securities, unless after making such distribution either its debt to total capital ratio does not exceed 0.67:1.0 and its interest coverage ratio is not less than 2.2:1.0 or its senior secured long-term debt rating is at least BBB or its equivalent. MidAmerican Funding may seek a release from this restriction upon delivery to the indenture trustee of written confirmation from the ratings agencies that without this restriction MidAmerican Funding's senior secured long-term debt would be rated at least BBB+. |
NPC | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions Nevada Power has an intercompany administrative services agreement with BHE and its subsidiaries. Amounts charged to Nevada Power under this agreement, either directly or through NV Energy, totaled $46 million, $30 million and $6 million for the years ended December 31, 2022, 2021 and 2020, respectively. Amounts charged to Nevada Power in 2022 and 2021 primarily relate to information technology projects billed at a consolidated level and passed through to affiliates. Kern River Gas Transmission Company, an indirect subsidiary of BHE, provided natural gas transportation and other services to Nevada Power of $49 million, $52 million, $52 million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022 and 2021, Nevada Power's Consolidated Balance Sheets included amounts due to Kern River Gas Transmission Company of $3 million and $4 million, respectively. Nevada Power provided electricity and other services to PacifiCorp, an indirect subsidiary of BHE, of $4 million, $3 million and $3 million for the years ended December 31, 2022, 2021 and 2020, respectively. There were no receivables associated with these services as of December 31, 2022 and 2021. PacifiCorp provided electricity and the sale of renewable energy credits to Nevada Power of $— million, $— million and $1 million for the years ended December 31, 2022, 2021, and 2020, respectively. There were no payables associated with these transactions as of December 31, 2022 and 2021. Nevada Power provided electricity to Sierra Pacific of $362 million, $179 million and $106 million for the years ended December 31, 2022, 2021 and 2020, respectively. Receivables associated with these transactions were $41 million and $13 million as of December 31, 2022 and 2021, respectively. Nevada Power purchased electricity from Sierra Pacific of $86 million, $43 million and $34 million for the years ended December 31, 2022, 2021 and 2020, respectively. Payables associated with these transactions were $5 million and $— million as of December 31, 2022 and 2021, respectively. Nevada Power incurs intercompany administrative and shared facility costs with NV Energy and Sierra Pacific. These transactions are governed by an intercompany service agreement and are priced at cost. Nevada Power provided services to NV Energy of $3 million, $1 million and $— million for each of the years ending December 31, 2022, 2021 and 2020, respectively. NV Energy provided services to Nevada Power of $9 million for the years ending December 31, 2022, 2021 and 2020. Nevada Power provided services to Sierra Pacific of $25 million, $25 million and $26 million for the years ended December 31, 2022, 2021 and 2020, respectively. Sierra Pacific provided services to Nevada Power of $16 million, $15 million and $15 million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022 and 2021, Nevada Power's Consolidated Balance Sheets included amounts due to NV Energy of $51 million and $33 million, respectively. There were no receivables due from NV Energy as of December 31, 2022 and 2021. In November 2022, Nevada Power entered into a $100 million unsecured note with NV Energy receivable upon demand and $100 million was outstanding as of December 31, 2022. As of December 31, 2022 and 2021, Nevada Power's Consolidated Balance Sheets included receivables due from Sierra Pacific of $33 million and $2 million, respectively. There were no payables due to Sierra Pacific as of December 31, 2022 and 2021. Nevada Power is party to a tax-sharing agreement with NV Energy and NV Energy is part of the Berkshire Hathaway consolidated U.S. federal income tax return. As of December 31, 2022 and 2021 federal income taxes receivable from NV Energy were $12 million and $27 million, respectively. Nevada Power received cash refunds of $29 million for federal income taxes for the year ended December 31, 2022 and made cash payments of $63 million and $50 million for federal income taxes for the years ended December 31, 2021 and 2020, respectively. Certain disbursements for accounts payable and payroll are made by NV Energy on behalf of Nevada Power and reimbursed automatically when settled by the bank. These amounts are recorded as accounts payable at the time of disbursement. |
SPPC | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions Sierra Pacific has an intercompany administrative services agreement with BHE and its subsidiaries. Amounts charged to Sierra Pacific under this agreement, either directly or through NV Energy, totaled $23 million, $14 million and $4 million for the years ended December 31, 2022, 2021 and 2020. Amounts charged to Sierra Pacific in 2022 and 2021 primarily relate to information technology projects billed at a consolidated level and passed through to affiliates. Sierra Pacific provided electricity to Nevada Power of $86 million, $43 million and $34 million for the years ended December 31, 2022, 2021 and 2020, respectively. Receivables associated with these transactions were $5 million and $— million as of December 31, 2022 and 2021, respectively. Sierra Pacific purchased electricity from Nevada Power of $362 million, $179 million and $106 million for the years ended December 31, 2022, 2021 and 2020, respectively. Payables associated with these transactions were $41 million and $13 million as of December 31, 2022 and 2021, respectively. Sierra Pacific incurs intercompany administrative and shared facility costs with NV Energy and Nevada Power. These transactions are governed by an intercompany service agreement and are priced at cost. NV Energy provided services to Sierra Pacific of $5 million for the years ending December 31, 2022, 2021 and 2020, respectively. Sierra Pacific provided services to Nevada Power of $16 million, $15 million, and $15 million for the years ended December 31, 2022, 2021 and 2020, respectively. Nevada Power provided services to Sierra Pacific of $25 million, $25 million, and $26 million for the years ended December 31, 2022, 2021 and 2020, respectively. Sierra Pacific provided services to NV Energy of $1 million, $— million, and $— million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022 and 2021, Sierra Pacific's Consolidated Balance Sheets included amounts due to NV Energy of $47 million and $19 million, respectively. There were no receivables due from NV Energy as of December 31, 2022 and 2021. In November 2022, Sierra Pacific entered into a $100 million unsecured note with NV Energy payable upon demand and $70 million was outstanding as of December 31, 2022. As of December 31, 2022 and 2021, Sierra Pacific's Consolidated Balance Sheets included payables due to Nevada Power of $33 million and $2 million, respectively. There were no receivables due from Nevada Power as of December 31, 2022 and 2021. Sierra Pacific is party to a tax-sharing agreement with NV Energy and NV Energy is part of the Berkshire Hathaway consolidated U.S. federal income tax return. As of December 31, 2022 and 2021 federal income taxes receivable from NV Energy were $11 million and $— million, respectively. Sierra Pacific received cash refunds of $1 million and $3 million for federal income taxes for the years ended December 31, 2022 and 2021, respectively, and made cash payments of $2 million for federal income taxes for the year ended December 31, 2020. Certain disbursements for accounts payable and payroll are made by NV Energy on behalf of Sierra Pacific and reimbursed automatically when settled by the bank. These amounts are recorded as accounts payable at the time of disbursement. |
EEGH | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions Transactions Prior to the GT&S Transaction Prior to the GT&S Transaction, Eastern Energy Gas engaged in related party transactions primarily with other DEI subsidiaries (affiliates). Eastern Energy Gas' receivable and payable balances with affiliates were settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Through October 31, 2020, Eastern Energy Gas was included in DEI's consolidated federal income tax return and, where applicable, combined state income tax returns. All affiliate payables or receivables were settled with DEI prior to the closing date of the GT&S Transaction. Eastern Energy Gas transacted with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, Eastern Energy Gas provided transmission and storage services to affiliates. Eastern Energy Gas also entered into certain other contracts with affiliates, and related parties, including construction services, which were presented separately from contracts involving commodities or services. Eastern Energy Gas participated in certain DEI benefit plans as described in Note 10. DES, Carolina Gas Services, DEQPS and other affiliates provided accounting, legal, finance and certain administrative and technical services to Eastern Energy Gas. Eastern Energy Gas provided certain services to related parties, including technical services. The financial statements for the year ended December 31, 2020 include costs for certain general, administrative and corporate expenses assigned by DES, Carolina Gas Services and DEQPS to Eastern Energy Gas on the basis of direct and allocated methods in accordance with Eastern Energy Gas' services agreements with DES, Carolina Gas Services and DEQPS. Where costs incurred cannot be determined by specific identification, the costs were allocated based on the proportional level of effort devoted by DES, Carolina Gas Services and DEQPS resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DES service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable. Subsequent to the GT&S Transaction, and with the exception of Cove Point, Eastern Energy Gas' transactions with other DEI subsidiaries are no longer related party transactions. Presented below are Eastern Energy Gas' significant transactions with DES, Carolina Gas Services, DEQPS and other affiliated and related parties for the year ended December 31 (in millions): 2020 Sales of natural gas and transmission and storage services $ 207 Purchases of natural gas and transmission and storage services 10 Services provided by related parties (1) 129 Services provided to related parties (2) 83 (1) Includes capitalized expenditures of $14 million. (2) Includes amounts attributable to Atlantic Coast Pipeline, a related party VIE prior to the GT&S Transaction. See below for more information. EGTS provided services to Atlantic Coast Pipeline, which totaled $46 million for the year ended December 31, 2020, included in operating revenue in the Consolidated Statement of Operations. Interest income related to the affiliated notes receivable under the DEI money pool was $3 million for the year ended December 31, 2020. Eastern Energy Gas' affiliated notes receivable from DEI totaled $1.8 billion as of December 31, 2019. In August 2020, DEI repaid the remaining principal balance outstanding. Interest income on the promissory notes was $32 million for the year ended December 31, 2020. As of December 31, 2019, Eastern Energy Gas' affiliated notes receivable from the East Ohio Gas Company totaled $1.7 billion. In June 2020, the East Ohio Gas Company repaid the remaining principal balance outstanding. Interest income on these promissory notes was $33 million for the year ended December 31, 2020. Interest charges related to Eastern Energy Gas' total borrowings under an intercompany revolving credit agreement with DEI were $3 million for the year ended December 31, 2020. Interest charges related to CPMLP Holdings Company LLC's total borrowings from DES were $3 million for the year ended December 31, 2020. For the year ended December 31, 2020, Eastern Energy Gas distributed $4.3 billion to DEI. Transactions Subsequent to the GT&S Transaction Eastern Energy Gas is party to a tax-sharing agreement and is part of the Berkshire Hathaway consolidated U.S. federal income tax return. For current federal and state income taxes, Eastern Energy Gas had a receivable from BHE of $16 million and $8 million as of December 31, 2022 and 2021, respectively. Eastern Energy Gas received net cash receipts for federal and state income taxes from BHE totaling $47 million and $76 million for the years ended December 31, 2021 and 2020, respectively. Other assets included amounts due from an affiliate of $3 million as of December 31, 2021. As of December 31, 2022 and 2021, Eastern Energy Gas had $1 million and $5 million, respectively, of natural gas imbalances payable to affiliates, presented in other current liabilities on the Consolidated Balance Sheets. Presented below are Eastern Energy Gas' significant transactions with affiliated and related parties for the years ended December 31 (in millions): 2022 2021 2020 Sales of natural gas and transmission and storage services $ 27 $ 32 $ 4 Purchases of natural gas and transmission and storage services 4 5 — Services provided by related parties (1) 83 51 4 Services provided to related parties 38 32 7 (1) Includes capitalized expenditures. Eastern Energy Gas participates in certain MidAmerican Energy benefit plans as described in Note 10. As of December 31, 2022 and 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 $51 million and $95 million, respectively. Borrowings with BHE GT&S Eastern Energy Gas has a $400 million intercompany revolving credit agreement from its parent, BHE GT&S, expiring in November 2023. The credit facility, which is for general corporate purposes and provides for the issuance of letters of credit, has a variable interest rate based on the Secured Overnight Financing Rate ("SOFR") plus a fixed spread. There were no amounts outstanding under the credit agreement as of both December 31, 2022 and 2021. BHE GT&S has an intercompany revolving credit agreement from Eastern Energy Gas expiring in November 2023. In March 2021, BHE GT&S increased its credit facility limit from $200 million to $400 million and to $650 million in November 2022. The credit agreement has a variable interest rate based on SOFR plus a fixed spread. As of December 31, 2022 and 2021, $536 million and $7 million, respectively, was outstanding under the credit agreement. Interest income related to this borrowing totaled $7 million for the year ended December 31, 2022. |
EGTS | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Related Party Transactions Transactions Prior to the GT&S Transaction Prior to the GT&S Transaction, EGTS engaged in related party transactions primarily with other DEI subsidiaries (affiliates). EGTS' receivable and payable balances with affiliates were settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Through October 31, 2020, EGTS was included in DEI's consolidated federal income tax return and, where applicable, combined state income tax returns. All affiliate payables or receivables were settled with DEI prior to the closing date of the GT&S Transaction. EGTS transacted with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, EGTS provided transmission and storage services to affiliates. EGTS also entered into certain other contracts with affiliates, and related parties, including construction services, which were presented separately from contracts involving commodities or services. EGTS participated in certain DEI benefit plans as described in Note 11. DES and other affiliates provided accounting, legal, finance and certain administrative and technical services to EGTS. EGTS provided certain services to related parties, including technical services. The financial statements for the year ended 2020 includes costs for certain general, administrative and corporate expenses assigned by DES to EGTS on the basis of direct and allocated methods in accordance with EGTS' services agreements with DES. Where costs incurred cannot be determined by specific identification, the costs were allocated based on the proportional level of effort devoted by DES resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DES service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable. Subsequent to the GT&S Transaction EGTS' transactions with other DEI subsidiaries are no longer related party transactions. Presented below are EGTS' significant transactions with DES and other affiliated and related parties for the year ended December 31 (in millions): 2020 Sales of natural gas and transmission and storage services $ 71 Purchases of natural gas and transmission and storage services 7 Services provided by related parties (1) 67 Services provided to related parties (2) 86 (1) Includes capitalized expenditures of $14 million. (2) Includes amounts attributable to Atlantic Coast Pipeline, a related party VIE prior to the GT&S Transaction. See below for more information. EGTS provided services to Atlantic Coast Pipeline, which totaled $46 million for the year ended December 31, 2020, included in operating revenue in the Consolidated Statement of Operations. Transactions Subsequent to the GT&S Transaction EGTS is party to a tax-sharing agreement and is part of the Berkshire Hathaway Inc. consolidated U.S. federal income tax return. For current federal and state income taxes, EGTS had a receivable from BHE of $21 million and $11 million as of December 31, 2022 and 2021, respectively. EGTS received net cash receipts for federal and state income taxes from BHE totaling $10 million for the year ended December 31, 2021, and paid net cash payments for federal and state income taxes to BHE totaling $7 million for the year ended December 31, 2020. Trade receivables, net as of both December 31, 2022 and 2021 included $2 million of accrued unbilled revenue. This revenue is based on estimated amounts of services provided but not yet billed to an affiliate. As of December 31, 2022 and 2021, EGTS had $10 million and $8 million, respectively, of natural gas imbalances payable to affiliates, presented in other current liabilities on the Consolidated Balance Sheets. EGTS participates in certain MidAmerican Energy benefit plans as described in Note 11. As of December 31, 2022 and 2021, EGTS' amount due to MidAmerican Energy associated with these plans and reflected in other long-term liabilities on the Consolidated Balance Sheets was $47 million and $85 million, respectively. Presented below are EGTS' significant transactions with related parties for the years ended December 31 (in millions): 2022 2021 2020 Sales of natural gas and transmission and storage services $ 26 $ 28 $ 4 Purchases of natural gas and transmission and storage services 4 5 — Services provided by related parties 46 26 2 Services provided to related parties 62 57 10 Borrowings With Eastern Energy Gas EGTS has a $400 million intercompany revolving credit agreement from its parent, Eastern Energy Gas, expiring in November 2023. The credit agreement, which is for general corporate purposes, has a variable interest rate based on the Secured Overnight Financing Rate ("SOFR") plus a fixed spread. Net outstanding borrowings totaled $36 million with a weighted-average interest rate of 1.43% as of December 31, 2022 and $68 million with a weighted-average interest rate of 0.51% as of December 31, 2021. Interest expense related to these borrowings totaled $1 million for the year ended December 31, 2020. In March 2021, Eastern Energy Gas entered into a $400 million intercompany revolving credit agreement from EGTS that currently expires in March 2024. The credit agreement, which is for general corporate purposes, has a variable interest rate based on SOFR plus a fixed spread. Net outstanding borrowings totaled $2,071 as of December 31, 2021. Interest income related to this borrowing totaled $2,071 for the year ended December 31, 2021. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 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): Years Ended December 31, 2022 2021 2020 Operating revenue: PacifiCorp $ 5,679 $ 5,296 $ 5,341 MidAmerican Funding 4,025 3,547 2,728 NV Energy 3,824 3,107 2,854 Northern Powergrid 1,365 1,188 1,022 BHE Pipeline Group 3,844 3,544 1,578 BHE Transmission 732 731 659 BHE Renewables 994 981 936 HomeServices 5,268 6,215 5,396 BHE and Other (1) 606 541 438 Total operating revenue $ 26,337 $ 25,150 $ 20,952 Depreciation and amortization: PacifiCorp $ 1,120 $ 1,088 $ 1,209 MidAmerican Funding 1,168 914 716 NV Energy 566 549 502 Northern Powergrid 361 305 266 BHE Pipeline Group 508 492 231 BHE Transmission 239 238 201 BHE Renewables 264 241 284 HomeServices 56 52 45 BHE and Other (1) 4 2 1 Total depreciation and amortization $ 4,286 $ 3,881 $ 3,455 Years Ended December 31, 2022 2021 2020 Operating income: PacifiCorp $ 1,158 $ 1,133 $ 924 MidAmerican Funding 438 416 454 NV Energy 606 621 649 Northern Powergrid 551 543 421 BHE Pipeline Group 1,720 1,516 779 BHE Transmission 333 339 316 BHE Renewables 300 329 291 HomeServices 151 505 511 BHE and Other (1) (16) (75) (54) Total operating income 5,241 5,327 4,291 Interest expense (2,216) (2,118) (2,021) Capitalized interest 76 64 80 Allowance for equity funds 167 126 165 Interest and dividend income 154 89 71 (Losses) gains on marketable securities, net (2,002) 1,823 4,797 Other, net (7) (17) 88 Total income before income tax (benefit) expense and equity loss $ 1,413 $ 5,294 $ 7,471 Interest expense: PacifiCorp $ 431 $ 430 $ 426 MidAmerican Funding 333 319 322 NV Energy 221 206 227 Northern Powergrid 133 130 130 BHE Pipeline Group 148 143 74 BHE Transmission 153 155 148 BHE Renewables 175 158 166 HomeServices 7 4 11 BHE and Other (1) 615 573 517 Total interest expense $ 2,216 $ 2,118 $ 2,021 Income tax (benefit) expense: PacifiCorp $ (61) $ (78) $ (75) MidAmerican Funding (776) (680) (574) NV Energy 56 56 61 Northern Powergrid 75 192 96 BHE Pipeline Group 276 269 162 BHE Transmission 14 10 13 BHE Renewables (2) (887) (753) (602) HomeServices 47 138 138 BHE and Other (1) (660) (286) 1,089 Total income tax (benefit) expense $ (1,916) $ (1,132) $ 308 Years Ended December 31, 2022 2021 2020 Earnings on common shares: PacifiCorp $ 921 $ 889 $ 741 MidAmerican Funding 947 883 818 NV Energy 427 439 410 Northern Powergrid 385 247 201 BHE Pipeline Group 1,040 807 528 BHE Transmission 247 247 231 BHE Renewables (2) 625 451 521 HomeServices 100 387 375 BHE and Other (1) (2,017) 1,319 3,092 Total earnings on common shares $ 2,675 $ 5,669 $ 6,917 Capital expenditures: PacifiCorp $ 2,166 $ 1,513 $ 2,540 MidAmerican Funding 1,869 1,912 1,836 NV Energy 1,113 749 675 Northern Powergrid 768 742 682 BHE Pipeline Group 1,157 1,128 659 BHE Transmission 200 279 372 BHE Renewables 138 225 95 HomeServices 48 42 36 BHE and Other 46 21 (130) Total capital expenditures $ 7,505 $ 6,611 $ 6,765 As of December 31, 2022 2021 2020 Property, plant and equipment, net: PacifiCorp $ 24,430 $ 22,914 $ 22,430 MidAmerican Funding 21,092 20,302 19,279 NV Energy 10,993 10,231 9,865 Northern Powergrid 7,445 7,572 7,230 BHE Pipeline Group 16,216 15,692 15,097 BHE Transmission 6,209 6,590 6,445 BHE Renewables 6,231 6,103 5,645 HomeServices 188 169 159 BHE and Other 239 243 (22) Total property, plant and equipment, net $ 93,043 $ 89,816 $ 86,128 As of December 31, 2022 2021 2020 Total assets: PacifiCorp $ 30,559 $ 27,615 $ 26,862 MidAmerican Funding 26,077 25,352 23,530 NV Energy 16,676 15,239 14,501 Northern Powergrid 9,005 9,326 8,782 BHE Pipeline Group 21,005 20,434 19,541 BHE Transmission 9,334 9,476 9,208 BHE Renewables 11,458 11,829 12,004 HomeServices 3,436 4,574 4,955 BHE and Other 6,290 8,220 7,933 Total assets $ 133,840 $ 132,065 $ 127,316 Years Ended December 31, 2022 2021 2020 Operating revenue by country: U.S. $ 24,263 $ 23,215 $ 19,254 United Kingdom 1,345 1,188 1,022 Canada 709 719 653 Australia 20 — — Other — 28 23 Total operating revenue by country $ 26,337 $ 25,150 $ 20,952 Income before income tax (benefit) expense and equity loss by country: U.S. $ 771 $ 4,650 $ 6,954 United Kingdom 447 454 338 Canada 181 181 173 Australia 15 (8) — Other (1) 17 6 Total income before income tax (benefit) expense and equity loss by country $ 1,413 $ 5,294 $ 7,471 As of December 31, 2022 2021 2020 Property, plant and equipment, net by country: U.S. $ 79,578 $ 75,774 $ 72,583 United Kingdom 6,959 7,487 7,134 Canada 6,091 6,547 6,401 Australia 415 8 10 Total property, plant and equipment, net by country $ 93,043 $ 89,816 $ 86,128 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate to other corporate entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations. (2) Income tax (benefit) expense includes the tax attributes of disregarded entities that are not required to pay income taxes and the earnings of which are taxable directly to BHE. The following table shows the change in the carrying amount of goodwill by reportable segment for the years ended December 31, 2022 and 2021 (in millions): BHE MidAmerican NV Northern Pipeline BHE BHE PacifiCorp Funding Energy Powergrid Group Transmission Renewables HomeServices Total December 31, 2020 $ 1,129 $ 2,102 $ 2,369 $ 1,000 $ 1,803 $ 1,551 $ 95 $ 1,457 $ 11,506 Acquisitions — — — — 11 — — 129 140 Foreign currency translation — — — (8) — 12 — — 4 December 31, 2021 1,129 2,102 2,369 992 1,814 1,563 95 1,586 11,650 Acquisitions — — — — — — — 16 16 Foreign currency translation — — — (75) — (102) — — (177) December 31, 2022 $ 1,129 $ 2,102 $ 2,369 $ 917 $ 1,814 $ 1,461 $ 95 $ 1,602 $ 11,489 |
MEC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment InformationMidAmerican Energy 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 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. Refer to Note 9 for a discussion of items affecting income tax (benefit) expense for the regulated electric and natural gas operating segments. The following tables provide information on a reportable segment basis (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 2,988 $ 2,529 $ 2,139 Regulated natural gas 1,030 1,003 573 Other 7 15 8 Total operating revenue $ 4,025 $ 3,547 $ 2,720 Depreciation and amortization: Regulated electric $ 1,112 $ 861 $ 667 Regulated natural gas 56 53 49 Total depreciation and amortization $ 1,168 $ 914 $ 716 Operating income: Regulated electric $ 372 $ 358 $ 384 Regulated natural gas 66 58 64 Total operating income $ 438 $ 416 $ 448 Interest expense: Regulated electric $ 290 $ 279 $ 281 Regulated natural gas 23 23 23 Total interest expense $ 313 $ 302 $ 304 Years Ended December 31, 2022 2021 2020 Income tax (benefit) expense: Regulated electric $ (779) $ (677) $ (584) Regulated natural gas 9 3 14 Other — (1) — Total income tax (benefit) expense $ (770) $ (675) $ (570) Net income: Regulated electric $ 931 $ 844 $ 780 Regulated natural gas 30 50 45 Other — — 1 Net income $ 961 $ 894 $ 826 Capital expenditures: Regulated electric $ 1,742 $ 1,806 $ 1,704 Regulated natural gas 127 106 132 Total capital expenditures $ 1,869 $ 1,912 $ 1,836 As of December 31, 2022 2021 2020 Total assets: Regulated electric $ 22,092 $ 21,385 $ 19,892 Regulated natural gas 1,885 1,871 1,544 Other 1 1 1 Total assets $ 23,978 $ 23,257 $ 21,437 |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information MidAmerican Funding 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 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 nonregulated subsidiaries of MidAmerican Funding not engaged in the energy business and parent company interest expense. Refer to Note 9 for a discussion of items affecting income tax (benefit) expense for the regulated electric and natural gas operating segments. The following tables provide information on a reportable segment basis (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 2,988 $ 2,529 $ 2,139 Regulated natural gas 1,030 1,003 573 Other 7 15 16 Total operating revenue $ 4,025 $ 3,547 $ 2,728 Depreciation and amortization: Regulated electric $ 1,112 $ 861 $ 667 Regulated natural gas 56 53 49 Total depreciation and amortization $ 1,168 $ 914 $ 716 Years Ended December 31, 2022 2021 2020 Operating income: Regulated electric $ 372 $ 358 $ 384 Regulated natural gas 66 58 64 Other — — 6 Total operating income $ 438 $ 416 $ 454 Interest expense: Regulated electric $ 290 $ 279 $ 281 Regulated natural gas 23 23 23 Other 20 17 18 Total interest expense $ 333 $ 319 $ 322 Income tax (benefit) expense: Regulated electric $ (779) $ (677) $ (584) Regulated natural gas 9 3 14 Other (6) (6) (4) Total income tax (benefit) expense $ (776) $ (680) $ (574) Net income: Regulated electric $ 931 $ 844 $ 780 Regulated natural gas 30 50 45 Other (14) (11) (7) Net income $ 947 $ 883 $ 818 Capital expenditures: Regulated electric $ 1,742 $ 1,806 $ 1,704 Regulated natural gas 127 106 132 Total capital expenditures $ 1,869 $ 1,912 $ 1,836 As of December 31, 2022 2021 2020 Total assets: Regulated electric $ 23,283 $ 22,576 $ 21,083 Regulated natural gas 1,963 1,950 1,623 Other 8 5 5 Total assets $ 25,254 $ 24,531 $ 22,711 Goodwill by reportable segment as of December 31, 2022 and 2021, was as follows (in millions): Regulated electric $ 1,191 Regulated natural gas 79 Total $ 1,270 |
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): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 1,025 $ 848 $ 738 Regulated natural gas 168 117 116 Total operating revenue $ 1,193 $ 965 $ 854 Operating income: Regulated electric $ 146 $ 148 $ 147 Regulated natural gas 19 19 18 Total operating income 165 167 165 Interest expense (58) (54) (56) Allowance for borrowed funds 3 2 2 Allowance for equity funds 7 7 4 Interest and dividend income 18 9 4 Other, net 2 11 7 Income before income tax expense $ 137 $ 142 $ 126 As of December 31, 2022 2021 2020 Assets Regulated electric $ 4,224 $ 3,829 $ 3,540 Regulated natural gas 441 365 342 Regulated common assets (1) 67 29 37 Total assets $ 4,732 $ 4,223 $ 3,919 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
Schedule I Condensed Financial
Schedule I Condensed Financial Statements (Parent Company Only) | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Statements, Captions [Line Items] | |
Schedule I Condensed Financial Statements (Parent Company Only) | Schedule I BERKSHIRE HATHAWAY ENERGY COMPANY PARENT COMPANY ONLY CONDENSED BALANCE SHEETS (Amounts in millions) As of December 31, 2022 2021 ASSETS Current assets: Cash and cash equivalents $ 32 $ 18 Accounts receivable 4 — Accounts receivable - affiliate 263 117 Notes receivable - affiliate 10 189 Income tax receivable 28 23 Other current assets 12 13 Total current assets 349 360 Investments in subsidiaries 59,944 58,190 Other investments 205 237 Goodwill 1,221 1,221 Other assets 1,152 1,101 Total assets $ 62,871 $ 61,109 LIABILITIES AND EQUITY Current liabilities: Accounts payable and other current liabilities $ 429 $ 397 Notes payable - affiliate 287 353 Short-term debt 245 — Current portion of BHE senior debt 900 — Total current liabilities 1,861 750 BHE senior debt 13,096 13,003 BHE junior subordinated debentures 100 100 Notes payable - affiliate 477 2 Other long-term liabilities 505 560 Total liabilities 16,039 14,415 Equity: BHE shareholders' equity: Preferred stock - 100 shares authorized, $0.01 par value, 1 and 2 shares issued and outstanding 850 1,650 Common stock - 115 shares authorized, no par value, 76 shares issued and outstanding — — Additional paid-in capital 6,298 6,374 Long-term income tax receivable — (744) Retained earnings 41,833 40,754 Accumulated other comprehensive loss, net (2,149) (1,340) Total BHE shareholders' equity 46,832 46,694 Noncontrolling interest — — Total equity 46,832 46,694 Total liabilities and equity $ 62,871 $ 61,109 The accompanying notes are an integral part of this financial statement schedule. Schedule I BERKSHIRE HATHAWAY ENERGY COMPANY PARENT COMPANY ONLY CONDENSED STATEMENTS OF OPERATIONS (Amounts in millions) Years Ended December 31, 2022 2021 2020 Operating expenses: General and administration $ 31 $ 83 $ 57 Depreciation and amortization 8 6 4 Total operating expenses 39 89 61 Operating loss (39) (89) (61) Other income (expense): Interest expense (629) (580) (527) Other, net (45) 1,846 4,789 Total other income (expense) (674) 1,266 4,262 (Loss) income before income tax (benefit) expense and equity income (713) 1,177 4,201 Income tax (benefit) expense (259) 194 1,089 Equity income 3,175 4,807 3,832 Net income 2,721 5,790 6,944 Net income attributable to noncontrolling interest — — 1 Net income attributable to BHE shareholders 2,721 5,790 6,943 Preferred dividends 46 121 26 Earnings on common shares $ 2,675 $ 5,669 $ 6,917 The accompanying notes are an integral part of this financial statement schedule. Schedule I BERKSHIRE HATHAWAY ENERGY COMPANY PARENT COMPANY ONLY CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in millions) Years Ended December 31, 2022 2021 2020 Net income $ 2,721 $ 5,790 $ 6,944 Other comprehensive (loss) income, net of tax (809) 212 154 Comprehensive income 1,912 6,002 7,098 Comprehensive income attributable to noncontrolling interests — — 1 Comprehensive income attributable to BHE shareholders $ 1,912 $ 6,002 $ 7,097 The accompanying notes are an integral part of this financial statement schedule. Schedule I BERKSHIRE HATHAWAY ENERGY COMPANY PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS (In millions) Years Ended December 31, 2022 2021 2020 Cash flows from operating activities $ 1,252 $ 1,819 $ 1,639 Cash flows from investing activities: Investments in subsidiaries (1,085) (1,206) (6,422) Purchases of marketable securities (20) (29) (55) Proceeds from sales of marketable securities 11 28 22 Purchases of other investments — — (1,290) Proceeds from other investments — 1,290 — Notes receivable from affiliate, net 390 200 (121) Other, net (44) (20) (20) Net cash flows from investing activities (748) 263 (7,886) Cash flows from financing activities: Proceeds from issuance of preferred stock — — 3,750 Preferred stock redemptions (800) (2,100) — Preferred dividends (50) (132) (7) Common stock purchases (870) — (126) Proceeds from BHE senior debt 986 — 5,212 Repayments of BHE senior debt — (450) (350) Net proceeds from (repayments of) short-term debt 245 — (1,590) Other, net (1) (5) (32) Net cash flows from financing activities (490) (2,687) 6,857 Net change in cash and cash equivalents 14 (605) 610 Cash and cash equivalents at beginning of year 18 623 13 Cash and cash equivalents at end of year $ 32 $ 18 $ 623 The accompanying notes are an integral part of this financial statement schedule. Schedule I BERKSHIRE HATHAWAY ENERGY COMPANY PARENT COMPANY ONLY NOTES TO CONDENSED FINANCIAL STATEMENTS Basis of Presentation - The condensed financial information of BHE investments in subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded in the Condensed Balance Sheets. The income from operations of subsidiaries is reported on a net basis as equity income in the Condensed Statements of Operations. Dividends and distributions from subsidiaries - Cash dividends paid to BHE by its subsidiaries for the years ended December 31, 2022, 2021 and 2020 were $1.9 billion, $2.4 billion and $2.0 billion, respectively. In January and February 2023, BHE received cash dividends from its subsidiaries totaling $495 million. Guarantees and commitments - BHE has issued guarantees and letters of credit in respect of subsidiaries, equity method investments and other related parties aggregating $1.6 billion and commitments. See the notes to the consolidated BHE financial statements in Part II, Item 8 for other disclosures regarding long-term obligations (Notes 9, 10 and 11) and shareholders' equity (Note 18). |
MidAmerican Funding LLC | |
Condensed Financial Statements, Captions [Line Items] | |
Schedule I Condensed Financial Statements (Parent Company Only) | Schedule I MIDAMERICAN FUNDING, LLC PARENT COMPANY ONLY CONDENSED BALANCE SHEETS (Amounts in millions) As of December 31, 2022 2021 ASSETS Current assets: Receivables from affiliates $ 1 $ 1 Investments in and advances to subsidiaries 10,959 10,070 Total assets $ 10,960 $ 10,071 LIABILITIES AND MEMBER'S EQUITY Current liabilities: Interest accrued and other current liabilities $ 5 $ 5 Payable to affiliate 36 25 Long-term debt 240 240 Total liabilities 281 270 Member's equity: Paid-in capital 1,679 1,679 Retained earnings 9,000 8,122 Total member's equity 10,679 9,801 Total liabilities and member's equity $ 10,960 $ 10,071 The accompanying notes are an integral part of this financial statement schedule. Schedule I MIDAMERICAN FUNDING, LLC PARENT COMPANY ONLY CONDENSED STATEMENTS OF OPERATIONS (Amounts in millions) Years Ended December 31, 2022 2021 2020 Other income (expense): Interest expense $ (17) $ (16) $ (16) Loss before income taxes (17) (16) (16) Income tax benefit (5) (5) (5) Equity in undistributed earnings of subsidiaries 959 894 829 Net income $ 947 $ 883 $ 818 The accompanying notes are an integral part of this financial statement schedule. MIDAMERICAN FUNDING, LLC PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS (In millions) Years Ended December 31, 2022 2021 2020 Net cash flows from operating activities $ (12) $ (12) $ (12) Net cash flows from investing activities: Dividend from subsidiary 69 — — Net cash flows from investing activities 69 — — Net cash flows from financing activities: Distribution to member (69) — — Net change in amounts payable to subsidiary 12 12 12 Net cash flows from financing activities (57) 12 12 Net change in cash and cash equivalents — — — Cash and cash equivalents at beginning of year — — — Cash and cash equivalents at end of year $ — $ — $ — The accompanying notes are an integral part of this financial statement schedule. Schedule I MIDAMERICAN FUNDING, LLC PARENT COMPANY ONLY NOTES TO CONDENSED FINANCIAL STATEMENTS Incorporated by reference are MidAmerican Funding, LLC and Subsidiaries Consolidated Statements of Changes in Member's Equity for the three years ended December 31, 2022, 2021 and 2020 in Part II, Item 8. Basis of Presentation - The condensed financial information of MidAmerican Funding, LLC's ("MidAmerican Funding's") investments in subsidiaries is presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in and advances to subsidiaries are recorded on the Condensed Balance Sheets. The income from operations of the subsidiaries is reported on a net basis as equity in undistributed earnings of subsidiary companies on the Condensed Statements of Operations. The Condensed Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. Income Taxes - MidAmerican Funding is not subject to income tax and is disregarded by the taxing authorities. However, a portion of Berkshire Hathaway Inc.'s consolidated income tax expense has been allocated to MidAmerican Funding for presentation in its separate financial statements commensurate with computing MidAmerican Funding's provision on a stand-alone basis. Payable to Affiliate - MHC, Inc. ("MHC") settles all obligations of MidAmerican Funding including interest costs on, and repayments of, MidAmerican Funding's long-term debt, income taxes and distributions to parent. MHC paid $81 million,$12 million and $12 million in 2022, 2021 and 2020, respectively, on behalf of MidAmerican Funding. Distribution to Parent - In 2022, MidAmerican Funding declared and paid, via MHC, a cash dividend of $69 million. In January 2023, MidAmerican Funding declared and paid, via MHC, a cash dividend of $100 million. See the notes to the consolidated MidAmerican Funding financial statements in Part II, Item 8 for other disclosures. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and PresentationThe Consolidated Financial Statements include the accounts of BHE and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. The Consolidated Statements of Operations include the revenue and expenses of any acquired entities from the date of acquisition. The Company consolidates variable interest entities ("VIE") in which it possesses both (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. Intercompany accounts and transactions have been eliminated. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; fair value of assets acquired and liabilities assumed in business combinations; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of RegulationPacifiCorp, MidAmerican Energy, Nevada Power, Sierra Pacific, BHE GT&S, Northern Natural Gas, Kern River and AltaLink (the "Regulated Businesses") prepare their financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Regulated Businesses defer the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash 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. |
Investments | Investments Fixed Maturity Securities The Company's management determines the appropriate classification of investments in fixed maturity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments and restricted cash and cash equivalents and investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Consolidated Balance Sheets. Available-for-sale investments are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on fixed maturity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Trading investments are carried at fair value with changes in fair value recognized in earnings. Held-to-maturity investments are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. The difference between the original cost and maturity value of a fixed maturity security is amortized to earnings using the interest method. Investment gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired with respect to securities classified as available-for-sale. If the value of a fixed maturity investment declines to below amortized cost and the decline is deemed other than temporary, the amortized cost of the investment is reduced to fair value, with a corresponding charge to earnings. Any resulting impairment loss is recognized in earnings if the Company intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If the Company does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in other comprehensive income (loss) ("OCI"). For regulated fixed maturity investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. Equity Securities Investments in equity securities are carried at fair value with changes in fair value recognized in earnings as a component of gains (losses) on marketable securities, net. All changes in fair value of equity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since the Company expects to recover costs for these activities through regulated rates. Equity Method Investments The Company utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying value of the investment by the Company's share of the net earnings or losses and OCI of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. Certain equity investments are presented on the Consolidated Balance Sheets net of related investment tax credits. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on the Company's assessment of the collectability of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, the Company primarily utilizes credit loss history. However, the Company may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. |
Derivatives | Derivatives The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of sales on the Consolidated Statements of Operations. For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For the Company's derivatives not designated as hedging contracts and for which changes in fair value are not recorded as regulatory assets and liabilities, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for sales contracts; cost of sales and operating expense for purchase contracts and electricity, natural gas and fuel swap contracts; and other, net for interest rate swap derivatives. For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. |
Inventories | InventoriesInventories consist mainly of fuel, which includes coal stocks, stored gas and fuel oil, totaling $248 million and $296 million as of December 31, 2022 and 2021, respectively, and materials and supplies totaling $1,008 million and $826 million as of December 31, 2022 and 2021, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined primarily using the average cost method. The cost of stored gas is determined using either the last-in-first-out ("LIFO") method or the lower of average cost or market. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable to the Regulated Businesses. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds. Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Regulated Businesses to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by the Regulated Businesses as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC") and the Alberta Utilities Commission ("AUC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. |
Asset Retirement Obligations | Asset Retirement ObligationsThe Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily related to the decommissioning of nuclear generating facilities and obligations associated with its other generating facilities and offshore natural gas pipelines. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For the Regulated Businesses, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. |
Impairment | ImpairmentThe Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As a majority of all property, plant and equipment is used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Leases | Leases The Company has non-cancelable operating leases primarily for office space, office equipment, generating facilities, land and rail cars and finance leases consisting primarily of transmission assets, generating facilities and vehicles. These leases generally require the Company to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. The Company does not include options in its lease calculations unless there is a triggering event indicating the Company is reasonably certain to exercise the option. The Company's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. The Company's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. The Company's operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Company evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, the Company estimates the fair value of its reporting units. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the excess is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, the Company did not record any material goodwill impairments. The Company records goodwill adjustments for changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. |
Income Taxes | Income Taxes 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. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with income tax benefits and expense for certain property-related basis differences and other various differences that the Company's regulated businesses deems probable to be passed on to their customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. The Company has not established deferred income taxes on its undistributed foreign earnings that have been determined by management to be reinvested indefinitely. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. The Company's unrecognized tax benefits are primarily included in accrued property, income and other taxes and other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
Revenue Recognition | Revenue Recognition Customer Revenue The Company uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. In the event one of the parties to a contract has performed before the other, the Company would recognize a contract asset or contract liability depending on the relationship between the Company's performance and the customer's payment. Energy Products and Services A majority of the Company's energy revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. The Company's energy revenue that is nonregulated primarily relates to the Company's renewable energy business. Revenue recognized is equal to what the Company has the right to invoice as it corresponds directly with the value to the customer of the Company's performance to date and includes billed and unbilled amounts. As of December 31, 2022 and 2021, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $828 million and $718 million, respectively. Payments for amounts billed are generally due from the customer within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price as well as the allocation of price amongst the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Real Estate Services The Company's HomeServices reportable segment consists of separate brokerage, mortgage and franchise businesses. Rates charged for brokerage, mortgage and franchise real estate services are established through contractual arrangements that establish the transaction price and the allocation of the price amongst the separate performance obligations. The full-service residential real estate brokerage business has performance obligations to deliver integrated real estate services including brokerage services, title and closing services, property and casualty insurance, home warranties, relocation services, and other home-related services to customers. All performance obligations related to the full-service residential real estate brokerage business are satisfied in less than one year at the point in time when a real estate transaction is closed or when services are provided. Commission revenue from real estate brokerage transactions and related amounts due to agents are recognized when a real estate transaction is closed. Title and escrow closing fee revenue from real estate transactions and related amounts due to the title insurer are recognized at closing. Payments for amounts billed are generally due from the customer at closing. The franchise business operates a network that has performance obligations to provide the right to use certain brand names and other related service marks as well as to provide orientation programs, training and consultation services, advertising programs and other services to its franchisees. The performance obligations related to the franchise business are satisfied over time or when the services are provided. Franchise royalty fees are sales-based variable consideration and are based on a percentage of commissions earned by franchisees on real estate sales, which are recognized when the sale closes. Meetings and training revenue, referral fees, late fees, service fees and franchise termination fees are earned when services have been completed. Payments for amounts billed are generally due from the franchisee within 30 days of billing. Other Revenue Energy Products and Services Other revenue consists primarily of revenue related to power purchase agreements not considered Customer Revenue as they are recognized in accordance with ASC 815, "Derivatives and Hedging" and ASC 842, "Leases" and certain non-tariff-based revenue approved by the regulator that is not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers." Real Estate Service Mortgage and other revenue consists primarily of revenue related to the mortgage business. Mortgage fee revenue consists of amounts earned related to application and underwriting fees and fees on canceled loans. Fees associated with the origination of mortgage loans are recognized as earned. These amounts are not considered Customer Revenue as they are recognized in accordance with ASC 815, "Derivatives and Hedging," ASC 825, "Financial Instruments" and ASC 860, "Transfers and Servicing." |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
Foreign Currency | Foreign Currency The accounts of foreign-based subsidiaries are measured in most instances using the local currency of the subsidiary as the functional currency. Revenue and expenses of these businesses are translated into U.S. dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. Gains or losses from translating the financial statements of foreign-based operations are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in earnings. |
PAC | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and PresentationThe Consolidated Financial Statements include the accounts of PacifiCorp and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial StatementsThe preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for loss contingencies and applicable insurance recoveries, including those related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") and the 2022 McKinney fire described in Note 14. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of Regulation PacifiCorp prepares its financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, PacifiCorp defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in rates occur. |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash 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, custodial and nuclear decommissioning funds. |
Investments | Investments Available-for-sale securities are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. As of December 31, 2022 and 2021, PacifiCorp had no unrealized gains and losses on available-for-sale securities. Trading securities are carried at fair value with realized and unrealized gains and losses recognized in earnings. Equity Method Investments PacifiCorp utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, PacifiCorp records the investment at cost and subsequently increases or decreases the carrying value of the investment by PacifiCorp's proportionate share of the net earnings or losses and other comprehensive income (loss) ("OCI") of the investee. PacifiCorp records dividends or other equity distributions as reductions in the carrying value of the investment. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination, and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on PacifiCorp's assessment of the collectability of amounts owed to PacifiCorp by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, PacifiCorp primarily utilizes credit loss history. However, PacifiCorp may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. |
Derivatives | Derivatives PacifiCorp employs a number of different derivative contracts, which may include forwards, options, swaps and other agreements, to manage price risk for electricity, natural gas and other commodities and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of fuel and energy on the Consolidated Statements of Operations. For PacifiCorp's derivative contracts, the settled amount is generally included in rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in rates are recorded as regulatory liabilities or assets. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. |
Inventories | InventoriesInventories consist mainly of materials, supplies and fuel stocks and are stated at the lower of average cost or net realizable value. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. PacifiCorp capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs, which include debt and equity allowance for funds used during construction ("AFUDC"). The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed on the straight-line method based on composite asset class lives prescribed by PacifiCorp's various regulatory authorities or over the assets' estimated useful lives. Depreciation studies are completed periodically to determine the appropriate composite asset class lives, net salvage and depreciation rates. These studies are reviewed and rates are ultimately approved by the various regulatory authorities. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when PacifiCorp retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represents the estimated costs of debt and equity funds necessary to finance the construction of property, plant and equipment, is capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, PacifiCorp is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. |
Asset Retirement Obligations | Asset Retirement Obligations PacifiCorp recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. PacifiCorp's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. |
Impairment | Impairment PacifiCorp evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. Substantially all property, plant and equipment supports PacifiCorp's regulated operations, the impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Leases | Leases PacifiCorp has non-cancelable operating leases primarily for land, office space, office equipment, and generating facilities and finance leases consisting primarily of office buildings, natural gas pipeline facilities, and generating facilities. These leases generally require PacifiCorp to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. PacifiCorp does not include options in its lease calculations unless there is a triggering event indicating PacifiCorp is reasonably certain to exercise the option. PacifiCorp's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Right-of-use assets will be evaluated for impairment in line with Accounting Standards Codification ("ASC") 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. PacifiCorp's leases of generating facilities generally are in the form of long-term purchases of electricity, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. PacifiCorp's operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. |
Income Taxes | Income Taxes Berkshire Hathaway includes PacifiCorp in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, PacifiCorp's provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that PacifiCorp deems probable to be passed on to its customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse or as otherwise approved by PacifiCorp's various regulatory commissions. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. |
Revenue Recognition | Revenue Recognition PacifiCorp uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which PacifiCorp expects to be entitled in exchange for those goods or services. PacifiCorp records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of PacifiCorp's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission and distribution and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of revenue recognized in accordance with ASC 815, "Derivatives and Hedging." |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
Segment Information | Segment Information PacifiCorp currently has one segment, which includes its regulated electric utility operations. |
MEC | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Presentation The Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | A ccounting for the Effects of Certain Types of Regulation MidAmerican Energy's utility operations are subject to the regulation of the Iowa Utilities Board ("IUB"), the Illinois Commerce Commission ("ICC"), the South Dakota Public Utilities Commission, and the Federal Energy Regulatory Commission ("FERC"). MidAmerican Energy's accounting policies and the accompanying Financial Statements conform to GAAP applicable to rate-regulated enterprises and reflect the effects of the ratemaking process. MidAmerican Energy prepares its financial statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, MidAmerican Energy defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash 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. |
Investments | Investments Fixed Maturity Securities MidAmerican Energy's management determines the appropriate classification of investments in fixed maturity securities at the acquisition date and reevaluates the classification at each balance sheet date. Investments that management does not intend to use or is restricted from using in current operations are presented as noncurrent on the Balance Sheets. Available-for-sale investments are carried at fair value with realized gains and losses, as determined on a specific identification basis, recognized in earnings and unrealized gains and losses recognized in AOCI, net of tax. Realized and unrealized gains and losses on fixed maturity securities in a trust related to the decommissioning of the Quad Cities Generating Station Units 1 and 2 ("Quad Cities Station") are recorded as a net regulatory liability because MidAmerican Energy expects to refund to customers any decommissioning funds in excess of costs for these activities through regulated rates. Trading investments are carried at fair value with changes in fair value recognized in earnings. Held-to-maturity securities are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. The difference between the original cost and maturity value of a fixed maturity security is amortized to earnings using the interest method. Investments gains and losses arise when investments are sold (as determined on a specific identification basis) or are other-than-temporarily impaired with respect to securities classified as available-for-sale. If the value of a fixed maturity investment declines to below amortized cost and the decline is deemed other than temporary, the amortized cost of the investment is reduced to fair value, with a corresponding charge to earnings. Any resulting impairment loss is recognized in earnings if MidAmerican Energy intends to sell, or expects to be required to sell, the debt security before its amortized cost is recovered. If MidAmerican Energy does not expect to ultimately recover the amortized cost basis even if it does not intend to sell the security, the credit loss component is recognized in earnings and any difference between fair value and the amortized cost basis, net of the credit loss, is reflected in other comprehensive income (loss) ("OCI"). For regulated investments, any impairment charge is offset by the establishment of a regulatory asset to the extent recovery in regulated rates is probable. Equity Securities All changes in fair value of equity securities in a trust related to the decommissioning of nuclear generation assets are recorded as a net regulatory liability since MidAmerican Energy expects to refund to customers any decommissioning funds in excess of costs for these activities through regulated rates. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on MidAmerican Energy's assessment of the collectability of amounts owed to it by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, MidAmerican Energy primarily utilizes credit loss history. However, it may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. |
Derivatives | Derivatives MidAmerican Energy employs a number of different derivative contracts, including forwards, futures, options, swaps and other agreements, to manage price risk for electricity, natural gas and other commodities, and interest rate risk. Derivative contracts are recorded on the 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked to market, and settled amounts are recognized as operating revenue or cost of sales on the Statements of Operations. |
Inventories | InventoriesInventories consist mainly of materials and supplies, totaling $175 million and $135 million as of December 31, 2022 and 2021, respectively, coal stocks, totaling $68 million and $63 million as of December 31, 2022 and 2021, respectively, and natural gas in storage, totaling $27 million and $30 million as of December 31, 2022 and 2021, respectively. The cost of materials and supplies, coal stocks and fuel oil is determined using the average cost method. The cost of stored natural gas is determined using the last-in-first-out method. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to utility plant are recorded at cost. MidAmerican Energy capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC") and equity AFUDC. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Additionally, MidAmerican Energy has regulatory arrangements in Iowa in which the carrying cost of certain utility plant has been reduced for amounts associated with electric returns on equity exceeding specified thresholds and retail energy benefits associated with certain wind-powered generation. Amounts expensed under these arrangements are included as a component of depreciation and amortization. Depreciation and amortization for MidAmerican Energy's utility operations are computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by its various regulatory authorities. Depreciation studies are completed by MidAmerican Energy to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally, when MidAmerican Energy retires or sells a component of utility plant, it charges the original cost, net of any proceeds from the disposition to accumulated depreciation. Any gain or loss on disposals of nonregulated assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of its regulated facilities, is capitalized by MidAmerican Energy as a component of utility plant, with offsetting credits to the Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, MidAmerican Energy is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. |
Asset Retirement Obligations | Asset Retirement Obligations MidAmerican Energy recognizes AROs when it has a legal obligation to perform decommissioning or removal activities upon retirement of an asset. MidAmerican Energy's AROs are primarily related to decommissioning of the Quad Cities Station and obligations associated with its other generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to utility plant) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in utility plant, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. |
Impairment | ImpairmentMidAmerican Energy evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. Additionally, when evaluating the carrying value of regulated assets, MidAmerican Energy considers the impact of regulation on recoverability. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Statements of Operations. |
Income Taxes | Income Taxes Berkshire Hathaway includes MidAmerican Funding and MidAmerican Energy in its consolidated U.S. federal and Iowa state income tax returns. MidAmerican Funding's and MidAmerican Energy's provisions for income taxes have been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that MidAmerican Energy deems probable to be passed on to its customers in most state jurisdictions are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. |
Revenue Recognition | Revenue Recognition MidAmerican Energy uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which MidAmerican Energy expects to be entitled in exchange for those goods and services. MidAmerican Energy records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Statements of Operations. A majority of MidAmerican Energy's energy revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Revenue from electric and natural gas customers is recognized as electricity or natural gas is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2022 and 2021, unbilled revenue was $102 million and $85 million, respectively, and is included in trade receivables, net on the Balance Sheets. |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
MidAmerican Funding, LLC | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of MidAmerican Funding and its subsidiaries in which it held a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated, other than those between rate-regulated operations. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash 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. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired when MidAmerican Funding purchased MHC. MidAmerican Funding evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, MidAmerican Funding estimates the fair value of its reporting units. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the identifiable assets, including identifiable intangible assets, and liabilities of the reporting unit are estimated at fair value as of the current testing date. The excess of the estimated fair value of the reporting unit over the current estimated fair value of net assets establishes the implied value of goodwill. The excess of the recorded goodwill over the implied goodwill value is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, MidAmerican Funding did not record any goodwill impairments. |
NPC | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Nevada Power and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of Regulation Nevada Power prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Nevada Power defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted CashCash 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 PUCN for a certain renewable energy contract. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Nevada Power's assessment of the collectability of amounts owed to Nevada Power by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Nevada Power primarily utilizes credit loss history. However, Nevada Power may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. Nevada Power also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. |
Derivatives | Derivatives Nevada Power employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity on the Consolidated Statements of Operations. For Nevada Power's derivative contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. |
Inventories | Inventories Inventories consist mainly of materials and supplies totaling $93 million and $64 million as of December 31, 2022 and 2021. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Nevada Power capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the Public Utilities Commission of Nevada ("PUCN"). Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by Nevada Power's various regulatory authorities. Depreciation studies are completed by Nevada Power to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as a non-current regulatory liability on the Consolidated Balance Sheets. As actual removal costs are incurred, the associated liability is reduced. Generally when Nevada Power retires or sells a component of regulated property, plant and equipment depreciated using the composite method, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings with the exception of material gains or losses on regulated property, plant and equipment depreciated on a straight-line basis, which is then recorded to a regulatory asset or liability. |
Asset Retirement Obligations | Asset Retirement ObligationsNevada Power recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Nevada Power's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. The costs are not recovered in rates until the work has been completed. |
Impairment | ImpairmentNevada Power evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Leases | Leases Nevada Power has non-cancelable operating leases primarily for land, generating facilities, vehicles and office equipment and finance leases consisting primarily of transmission assets, generating facilities, office space and vehicles. These leases generally require Nevada Power to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. Nevada Power does not include options in its lease calculations unless there is a triggering event indicating Nevada Power is reasonably certain to exercise the option. Nevada Power's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") Topic 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. Nevada Power's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. Nevada Power's operating and right-of-use assets are recorded in other assets and the operating lease liabilities are recorded in current and long-term other liabilities accordingly. |
Income Taxes | Income Taxes Berkshire Hathaway includes Nevada Power in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Nevada Power's provision for income taxes has been computed on a separate return basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property‑related basis differences and other various differences that Nevada Power deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties. Nevada Power recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Nevada Power's unrecognized tax benefits are primarily included in other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
Revenue Recognition | Revenue Recognition Nevada Power uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Nevada Power expects to be entitled in exchange for those goods or services. Nevada Power records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of Nevada Power's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission and distribution and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of amounts not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers" and revenue recognized in accordance with ASC 842, "Leases." |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
Segment Information | Segment Information Nevada Power currently has one segment, which includes its regulated electric utility operations. |
SPPC | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Sierra Pacific and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. The Consolidated Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of RegulationSierra Pacific prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Sierra Pacific defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted CashCash 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 PUCN for a certain renewable energy contract. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Sierra Pacific's assessment of the collectability of amounts owed to Sierra Pacific by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Sierra Pacific primarily utilizes credit loss history. However, Sierra Pacific may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. Sierra Pacific also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. |
Derivatives | Derivatives Sierra Pacific employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity or natural gas purchased for resale on the Consolidated Statements of Operations. For Sierra Pacific's derivative contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. For a derivative contract not probable of inclusion in rates, changes in the fair value are recognized in earnings. |
Inventories | Inventories Inventories consist mainly of materials and supplies totaling $69 million and $62 million as of December 31, 2022 and 2021, respectively, and fuel, which includes coal stock, stored natural gas and fuel oil, totaling $10 million and $3 million as of December 31, 2022 and 2021, respectively. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. Fuel costs are recovered from retail customers through the base tariff energy rates and deferred energy accounting adjustment charges approved by the Public Utilities Commission of Nevada ("PUCN"). |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Sierra Pacific capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the PUCN. Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by Sierra Pacific's various regulatory authorities. Depreciation studies are completed by Sierra Pacific to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as a non-current regulatory liability on the Consolidated Balance Sheets. As actual removal costs are incurred, the associated liability is reduced. Generally when Sierra Pacific retires or sells a component of regulated property, plant and equipment depreciated using the composite method, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings with the exception of material gains or losses on regulated property, plant and equipment depreciated on a straight-line basis, which is then recorded to a regulatory asset or liability. |
Asset Retirement Obligations | Asset Retirement ObligationsSierra Pacific recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Sierra Pacific's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. The costs are not recovered in rates until the work has been completed. |
Impairment | Impairment of Long-Lived Assets Sierra Pacific evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Leases | Leases Sierra Pacific has non-cancelable operating leases primarily for transmission and delivery assets, generating facilities, vehicles and office equipment and finance leases consisting primarily of transmission assets, generating facilities and vehicles. These leases generally require Sierra Pacific to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. Sierra Pacific does not include options in its lease calculations unless there is a triggering event indicating Sierra Pacific is reasonably certain to exercise the option. Sierra Pacific's accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification ("ASC") Topic 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. Sierra Pacific's leases of generating facilities generally are for the long-term purchase of electric energy, also known as power purchase agreements ("PPA"). PPAs are generally signed before or during the early stages of project construction and can yield a lease that has not yet commenced. These agreements are primarily for renewable energy and the payments are considered variable lease payments as they are based on the amount of output. Sierra Pacific's operating and finance right-of-use assets are recorded in other assets and the operating and current finance lease liabilities are recorded in current and long-term other liabilities accordingly. |
Income Taxes | Income Taxes Berkshire Hathaway includes Sierra Pacific in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Sierra Pacific's provision for income taxes has been computed on a separate return basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that Sierra Pacific deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are deferred and amortized over the estimated useful lives of the related properties. Sierra Pacific recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Sierra Pacific's unrecognized tax benefits are primarily included in other long-term liabilities on the Consolidated Balance Sheets. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense on the Consolidated Statements of Operations. |
Revenue Recognition | Revenue Recognition Sierra Pacific uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Sierra Pacific expects to be entitled in exchange for those goods or services. Sierra Pacific records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. Substantially all of Sierra Pacific's Customer Revenue is derived from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Other revenue consists primarily of revenue recognized in accordance with ASC 842, "Leases" and amounts not considered Customer Revenue within ASC 606, "Revenue from Contracts with Customers." |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Issuance Costs Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
EEGH | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of Eastern Energy Gas and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Eastern Energy Gas consolidates variable interest entities ("VIE") in which it possesses both (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses or receive benefits from the entity that could potentially be significant to the VIE. Intercompany accounts and transactions have been eliminated. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; impairment of goodwill; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of Regulation Eastern Energy Gas prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, Eastern Energy Gas defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash 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. |
Investments | Investments Eastern Energy Gas utilizes the equity method of accounting with respect to investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. In applying the equity method, Eastern Energy Gas records the investment at cost and subsequently increases or decreases the carrying value of the investment by Eastern Energy Gas' share of the net earnings or losses and other comprehensive income ("OCI") of the investee. Eastern Energy Gas records dividends or other equity distributions as reductions in the carrying value of the investment. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on Eastern Energy Gas' assessment of the collectability of amounts owed to Eastern Energy Gas by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, Eastern Energy Gas primarily evaluates the financial condition of the individual customer and the nature of any disputed amount. |
Derivatives | Derivatives Eastern Energy Gas employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price, interest rate, and foreign currency exchange rate risk. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets or other current liabilities on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of gas on the Consolidated Statements of Operations. For Eastern Energy Gas' derivatives not designated as hedging contracts, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for derivatives related to natural gas sales contracts. For Eastern Energy Gas' derivatives designated as hedging contracts, Eastern Energy Gas formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. Eastern Energy Gas formally documents hedging activity by transaction type and risk management strategy. For derivative instruments that are accounted for as cash flow hedges or fair value hedges, the cash flows from the derivatives and from the related hedged items are classified in operating cash flows. Changes in the estimated fair value of a derivative contract designated and qualified as a cash flow hedge, to the extent effective, are included on the Consolidated Statements of Changes in Equity as AOCI, net of tax, until the contract settles and the hedged item is recognized in earnings. Eastern Energy Gas discontinues hedge accounting prospectively when it has determined that a derivative contract no longer qualifies as an effective hedge, or when it is no longer probable that the hedged forecasted transaction will occur. When hedge accounting is discontinued because the derivative contract no longer qualifies as an effective hedge, future changes in the estimated fair value of the derivative contract are charged to earnings. Gains and losses related to discontinued hedges that were previously recorded in AOCI will remain in AOCI until the contract settles and the hedged item is recognized in earnings, unless it becomes probable that the hedged forecasted transaction will not occur at which time associated deferred amounts in AOCI are immediately recognized in earnings. |
Inventories | Inventories Inventories consist mainly of materials and supplies and are determined using the average cost method. |
Gas Imbalances | Natural Gas Imbalances Natural gas imbalances occur when the physical amount of natural gas delivered from, or received by, a pipeline system or storage facility differs from the contractual amount of natural gas delivered or received. Eastern Energy Gas values these imbalances due to, or from, shippers and operators at an appropriate index price at period end, subject to the terms of its tariff for regulated entities. Imbalances are primarily settled in-kind. Imbalances due to Eastern Energy Gas from other parties are reported in natural gas imbalances and imbalances that Eastern Energy Gas owes to other parties are reported in other current liabilities on the Consolidated Balance Sheets. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. Eastern Energy Gas capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include capitalized interest, including debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed by applying the composite or straight-line method based on estimated useful lives. Depreciation studies are completed by Eastern Energy Gas to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the FERC. See Note 6 for the prospective impacts related to changes in depreciation rates. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when Eastern Energy Gas retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by Eastern Energy Gas as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, Eastern Energy Gas is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. |
Asset Retirement Obligations | Asset Retirement Obligations Eastern Energy Gas recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. Eastern Energy Gas' AROs are primarily related to the obligations associated with its natural gas pipeline and storage well assets. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For Eastern Energy Gas, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. |
Impairment | ImpairmentEastern Energy Gas evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. The impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Eastern Energy Gas evaluates goodwill for impairment at least annually and completed its annual review as of October 31, 2022. When evaluating goodwill for impairment, Eastern Energy Gas estimates the fair value of its reporting unit. If the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, then the excess is charged to earnings as an impairment loss. Significant judgment is required in estimating the fair value of the reporting unit and performing goodwill impairment tests. The determination of fair value incorporates significant unobservable inputs. During 2022, 2021 and 2020, Eastern Energy Gas did not record any goodwill impairments. Eastern Energy Gas records goodwill adjustments for changes to the purchase price allocation prior to the end of the measurement period, which is not to exceed one year from the acquisition date. |
Income Taxes | Income Taxes Prior to the GT&S Transaction, DEI included Eastern Energy Gas in its consolidated U.S. federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes Eastern Energy Gas in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that Eastern Energy Gas' regulated businesses deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Eastern Energy Gas recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense (benefit) on the Consolidated Statements of Operations. |
Revenue Recognition | Revenue Recognition Eastern Energy Gas uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which Eastern Energy Gas expects to be entitled in exchange for those goods or services. Eastern Energy Gas records sales and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. A majority of Eastern Energy Gas' Customer Revenue is derived from tariff-based sales arrangements approved by the FERC. These tariff-based revenues are mainly comprised of natural gas transmission and storage services and have performance obligations which are satisfied over time as services are provided. Eastern Energy Gas' revenue that is nonregulated primarily relates to LNG terminalling services. |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
Segment Information | Segment Information Eastern Energy Gas currently has one segment, which includes its natural gas pipeline, storage and LNG operations. |
EGTS | |
Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation The Consolidated Financial Statements include the accounts of EGTS and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. |
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of Regulation EGTS prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, EGTS defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be recognized in net income, returned to customers or re-established as accumulated other comprehensive income (loss) ("AOCI"). |
Fair Value Measurements | Fair Value Measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered when determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents | Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsCash equivalents consist of funds invested in money market mutual funds, U.S. Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of customer deposits as allowed under the FERC gas tariff. |
Allowance for Credit Losses | Allowance for Credit LossesTrade receivables are primarily short-term in nature and are stated at the outstanding principal amount, net of an estimated allowance for credit losses. The allowance for credit losses is based on EGTS' assessment of the collectability of amounts owed to EGTS by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. In measuring the allowance for credit losses for trade receivables, EGTS primarily evaluates the financial condition of the individual customer and the nature of any disputed amount. |
Derivatives | Derivatives EGTS employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risks. 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. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets or other current liabilities on the Consolidated Balance Sheets. Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked-to-market and settled amounts are recognized as operating revenue or cost of gas on the Consolidated Statements of Operations. For EGTS' derivatives not designated as hedging contracts, unrealized gains and losses are recognized on the Consolidated Statements of Operations as operating revenue for derivatives related to natural gas sales contracts. For EGTS' derivatives designated as hedging contracts, EGTS formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. EGTS formally documents hedging activity by transaction type and risk management strategy. For derivative instruments that are accounted for as cash flow hedges or fair value hedges, the cash flows from the derivatives and from the related hedged items are classified in operating cash flows. |
Inventories | Inventories Inventories consist mainly of materials and supplies and are determined using the average cost method. |
Gas Imbalances | Natural Gas Imbalances Natural gas imbalances occur when the physical amount of natural gas delivered from, or received by, a pipeline system or storage facility differs from the contractual amount of natural gas delivered or received. EGTS values these imbalances due to, or from, shippers and operators at an appropriate index price at period end, subject to the terms of its tariff for regulated entities. Imbalances are primarily settled in-kind. Imbalances due to EGTS from other parties are reported in natural gas imbalances and imbalances that EGTS owes to other parties are reported in other current liabilities on the Consolidated Balance Sheets. |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net General Additions to property, plant and equipment are recorded at cost. EGTS capitalizes all construction-related materials, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt and equity allowance for funds used during construction ("AFUDC"), as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. Depreciation and amortization are generally computed by applying the composite or straight-line method based on estimated useful lives. Depreciation studies are completed by EGTS to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the FERC. See Note 7 for the prospective impacts related to changes in depreciation rates. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. Generally when EGTS retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, is capitalized by EGTS as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. AFUDC is computed based on guidelines set forth by the FERC. After construction is completed, EGTS is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. |
Asset Retirement Obligations | Asset Retirement Obligations EGTS recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. EGTS' AROs are primarily related to the obligations associated with its natural gas pipeline and storage well assets. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. For EGTS, the difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability. |
Impairment | ImpairmentEGTS evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment supports EGTS' regulated businesses, the impacts of regulation are considered when evaluating the carrying value of regulated assets. |
Leases | Leases EGTS has non-cancelable operating leases primarily for office space, office equipment and land and finance leases consisting primarily of natural gas pipeline facilities and vehicles. These leases generally require EGTS to pay for insurance, taxes and maintenance applicable to the leased property. Given the capital intensive nature of the utility industry, it is common for a portion of lease costs to be capitalized when used during construction or maintenance of assets, in which the associated costs will be capitalized with the corresponding asset and depreciated over the remaining life of that asset. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. EGTS does not include options in its lease calculations unless there is a triggering event indicating EGTS is reasonably certain to exercise the option. EGTS' accounting policy is to not recognize right-of-use assets and lease obligations for leases with contract terms of one year or less and not separate lease components from non-lease components and instead account for each separate lease component and the non-lease components associated with a lease as a single lease component. Leases will be evaluated for impairment in line with Accounting Standards Codification 360, "Property, Plant and Equipment" when a triggering event has occurred that might affect the value and use of the assets being leased. EGTS' operating and finance right-of-use assets are recorded in other assets and the operating and finance lease liabilities are recorded in current and long-term other liabilities accordingly. |
Income Taxes | Income Taxes Prior to the GT&S Transaction, DEI included EGTS in its consolidated U.S. federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes EGTS in its consolidated U.S. federal income tax return. Consistent with established regulatory practice, EGTS' provision for income taxes has been computed on a stand-alone basis. Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using enacted income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities associated with certain property-related basis differences and other various differences that EGTS' regulated businesses deems probable to be passed on to its customers are charged or credited directly to a regulatory asset or liability and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. EGTS recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Estimated interest and penalties, if any, related to uncertain tax positions are included as a component of income tax expense (benefit) on the Consolidated Statements of Operations. |
Revenue Recognition | Revenue Recognition EGTS uses a single five-step model to identify and recognize revenue from contracts with customers ("Customer Revenue") upon transfer of control of promised goods or services in an amount that reflects the consideration to which EGTS expects to be entitled in exchange for those goods or services. EGTS records sales and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. A majority of EGTS' Customer Revenue is derived from tariff-based sales arrangements approved by the FERC. These tariff-based revenues are mainly comprised of natural gas transmission and storage services and have performance obligations which are satisfied over time as services are provided. |
Unamortized Debt Premiums, Discounts and Debt Issuance Cost | Unamortized Debt Premiums, Discounts and Debt Issuance Costs Premiums, discounts and debt issuance costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. |
Segment Information | Segment Information EGTS currently has one segment, which includes its natural gas pipeline and storage operations. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 1,591 $ 1,096 Investments and restricted cash and cash equivalents 173 127 Investments and restricted cash and cash equivalents and investments 53 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,817 $ 1,244 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,071 $ 2,041 $ 1,855 Income taxes received, net (1) $ 1,863 $ 1,309 $ 1,361 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 1,049 $ 834 $ 801 (1) Includes $1,961 million, $1,441 million and $1,504 million of income taxes received from Berkshire Hathaway in 2022, 2021 and 2020, respectively. |
Schedule of Allowance for Credit Loss | The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 108 $ 77 $ 44 Charged to operating costs and expenses, net 43 81 56 Acquisitions — — 5 Write-offs, net (45) (50) (28) Ending balance $ 106 $ 108 $ 77 |
PAC | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 641 $ 179 Restricted cash included in other current assets 7 4 Restricted cash included in other assets 26 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 674 $ 186 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 380 $ 395 $ 348 Income taxes (received) paid, net $ (185) $ (120) $ 107 Supplemental disclosure of non-cash investing and financing activities: Accruals related to property, plant and equipment additions $ 558 $ 254 $ 344 |
Schedule of Allowance for Credit Loss | The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 18 $ 17 $ 8 Charged to operating costs and expenses, net 18 13 18 Write-offs, net (17) (12) (9) Ending balance $ 19 $ 18 $ 17 |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility Plant: Generation 15 - 59 years $ 13,726 $ 13,679 Transmission 60 - 90 years 8,051 7,894 Distribution 20 - 75 years 8,477 8,044 Intangible plant (1) and other 5 - 75 years 2,755 2,645 Utility plant in-service 33,009 32,262 Accumulated depreciation and amortization (11,093) (10,507) Utility plant in-service, net 21,916 21,755 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,934 21,773 Construction work-in-progress 2,496 1,141 Property, plant and equipment, net $ 24,430 $ 22,914 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 258 $ 232 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 268 $ 239 The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 292 $ 279 $ 286 Income taxes received, net $ 840 $ 746 $ 709 Supplemental disclosure of non-cash investing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
Schedule of Allowance for Credit Loss | The change in the balance of the allowance for credit losses, which is included in trade receivables, net on the Balance Sheets, is summarized as follows for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 12 $ 12 $ 5 Charged to operating costs and expenses, net 11 10 12 Write-offs, net (9) (10) (5) Ending balance $ 14 $ 12 $ 12 |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 20-62 years $ 18,582 $ 17,397 Transmission 55-80 years 2,662 2,474 Electric distribution 15-80 years 4,931 4,661 Natural gas distribution 30-75 years 2,144 2,039 Utility plant in-service 28,319 26,571 Accumulated depreciation and amortization (8,024) (7,376) Utility plant in-service, net 20,295 19,195 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,301 19,201 Construction work-in-progress 790 1,100 Property, plant and equipment, net $ 21,091 $ 20,301 |
MidAmerican Funding, LLC | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 261 $ 233 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 271 $ 240 The summary of supplemental cash flow information as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 309 $ 296 $ 302 Income taxes received, net $ 845 $ 751 $ 715 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
NPC | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 43 $ 33 Restricted cash and cash equivalents included in other current assets 17 12 Total cash and cash equivalents and restricted cash and cash equivalents $ 60 $ 45 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 121 $ 115 $ 115 Income taxes (refunded) paid $ (29) $ 63 $ 50 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 98 $ 53 $ 32 |
Schedule of Allowance for Credit Loss | The changes in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 18 $ 19 $ 15 Charged to operating costs and expenses, net 14 13 13 Write-offs, net (12) (14) (9) Ending balance $ 20 $ 18 $ 19 |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 30 - 55 years $ 3,977 $ 3,793 Transmission 45 - 70 years 1,562 1,503 Distribution 20 - 65 years 4,134 3,920 General and intangible plant 5 - 65 years 871 836 Utility plant 10,544 10,052 Accumulated depreciation and amortization (3,624) (3,406) Utility plant, net 6,920 6,646 Nonregulated, net of accumulated depreciation and amortization 45 years 1 1 6,921 6,647 Construction work-in-progress 485 244 Property, plant and equipment, net $ 7,406 $ 6,891 |
SPPC | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 49 $ 10 Restricted cash and cash equivalents included in other current assets 7 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 56 $ 16 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 45 $ 41 $ 42 Income taxes (refunded) paid $ (1) $ (3) $ 2 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 57 $ 27 $ 17 |
Schedule of Allowance for Credit Loss | The changes in the balance of the allowance for credit losses, which is included in trade receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 1 $ 2 $ 2 Charged to operating costs and expenses, net 2 2 2 Write-offs, net (1) (3) (2) Ending balance $ 2 $ 1 $ 2 |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Electric generation 25 - 60 years $ 1,298 $ 1,163 Electric transmission 50 - 100 years 993 940 Electric distribution 20 - 100 years 1,983 1,846 Electric general and intangible plant 5 - 70 years 219 204 Natural gas distribution 35 - 70 years 455 438 Natural gas general and intangible plant 5 - 70 years 15 14 Common general 5 - 70 years 380 370 Utility plant 5,343 4,975 Accumulated depreciation and amortization (1,992) (1,854) Utility plant, net 3,351 3,121 Construction work-in-progress 236 219 Property, plant and equipment, net $ 3,587 $ 3,340 |
EEGH | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 65 $ 22 Restricted cash and cash equivalents 30 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 95 $ 39 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 143 $ 144 $ 317 Income taxes paid (received), net $ 2 $ (60) $ 31 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 29 $ 42 $ 30 Equity distributions (1) $ (42) $ (137) $ — Equity contributions (1) $ 98 $ 73 $ — Distribution of Questar Pipeline Group $ — $ — $ (699) Distribution of 50% interest in Cove Point $ — $ — $ (2,765) Acquisition of Eastern Energy Gas by BHE $ — $ — $ 343 (1) Amounts primarily represent the forgiveness of affiliated receivables/payables. |
Schedule of Allowance for Credit Loss | The changes in the balance of the allowance for credit losses, which is included in trades receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 6 $ 5 $ 2 Charged to operating costs and expenses, net — 1 4 Write-offs, net (3) — (1) Ending balance $ 3 $ 6 $ 5 |
EGTS | |
Allowance for Doubtful Accounts [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 16 $ 11 Restricted cash and cash equivalents 29 15 Total cash and cash equivalents and restricted cash and cash equivalents $ 45 $ 26 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 67 $ 71 $ 82 Income taxes paid (received), net $ 2 $ (12) $ 58 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 15 $ 29 $ 25 Equity dividends (1) $ (21) $ (58) $ — Equity contributions (2) $ 34 $ 292 $ — Acquisition of EGTS by BHE $ — $ — $ 40 (1) Equity dividends represents the forgiveness of affiliated receivables. (2) Equity contributions for the year ended December 31, 2021 primarily reflect the impacts from the intercompany debt exchange with Eastern Energy Gas. See Note 9 for more information regarding the intercompany debt exchange with Eastern Energy Gas. |
Schedule of Allowance for Credit Loss | The changes in the balance of the allowance for credit losses, which is included in trades receivables, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31, (in millions): 2022 2021 2020 Beginning balance $ 3 $ 2 $ 1 Charged to operating costs and expenses, net — 1 1 Write-offs, net (3) — — Ending balance $ — $ 3 $ 2 |
Business Acquisitions (Tables)
Business Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Summary of Pro Forma Information | Pro Forma Financial Information The following unaudited pro forma financial information reflects the consolidated results of operations of BHE and the amortization of the purchase price adjustments assuming the acquisition had taken place on January 1, 2019, excluding non-recurring transaction costs incurred by BHE during 2020 (in millions): 2020 Operating revenue $ 22,581 Net income attributable to BHE shareholders $ 6,800 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 92,759 $ 90,223 Interstate natural gas pipeline assets 3-80 years 18,328 17,423 111,087 107,646 Accumulated depreciation and amortization (34,599) (32,680) Regulated assets, net 76,488 74,966 Nonregulated assets: Independent power plants 2-50 years 8,545 7,665 Cove Point LNG facility 40 years 3,412 3,364 Other assets 2-30 years 2,693 2,666 14,650 13,695 Accumulated depreciation and amortization (3,452) (3,041) Nonregulated assets, net 11,198 10,654 87,686 85,620 Construction work-in-progress 5,357 4,196 Property, plant and equipment, net $ 93,043 $ 89,816 |
PAC | |
Property, Plant and Equipment [Line Items] | |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility Plant: Generation 15 - 59 years $ 13,726 $ 13,679 Transmission 60 - 90 years 8,051 7,894 Distribution 20 - 75 years 8,477 8,044 Intangible plant (1) and other 5 - 75 years 2,755 2,645 Utility plant in-service 33,009 32,262 Accumulated depreciation and amortization (11,093) (10,507) Utility plant in-service, net 21,916 21,755 Nonregulated, net of accumulated depreciation and amortization 14 - 95 years 18 18 21,934 21,773 Construction work-in-progress 2,496 1,141 Property, plant and equipment, net $ 24,430 $ 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] | |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 20-62 years $ 18,582 $ 17,397 Transmission 55-80 years 2,662 2,474 Electric distribution 15-80 years 4,931 4,661 Natural gas distribution 30-75 years 2,144 2,039 Utility plant in-service 28,319 26,571 Accumulated depreciation and amortization (8,024) (7,376) Utility plant in-service, net 20,295 19,195 Nonregulated property, net of accumulated depreciation and amortization 20-50 years 6 6 20,301 19,201 Construction work-in-progress 790 1,100 Property, plant and equipment, net $ 21,091 $ 20,301 |
Schedule of Depreciation and Amortization Rates | The average depreciation and amortization rates applied to depreciable utility plant for the years ended December 31 were as follows: 2022 2021 2020 Electric 3.2 % 3.3 % 3.2 % Natural gas 2.9 % 2.8 % 2.8 % |
NPC | |
Property, Plant and Equipment [Line Items] | |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Generation 30 - 55 years $ 3,977 $ 3,793 Transmission 45 - 70 years 1,562 1,503 Distribution 20 - 65 years 4,134 3,920 General and intangible plant 5 - 65 years 871 836 Utility plant 10,544 10,052 Accumulated depreciation and amortization (3,624) (3,406) Utility plant, net 6,920 6,646 Nonregulated, net of accumulated depreciation and amortization 45 years 1 1 6,921 6,647 Construction work-in-progress 485 244 Property, plant and equipment, net $ 7,406 $ 6,891 |
SPPC | |
Property, Plant and Equipment [Line Items] | |
Schedule of Public Utility Property, Plant, and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility plant: Electric generation 25 - 60 years $ 1,298 $ 1,163 Electric transmission 50 - 100 years 993 940 Electric distribution 20 - 100 years 1,983 1,846 Electric general and intangible plant 5 - 70 years 219 204 Natural gas distribution 35 - 70 years 455 438 Natural gas general and intangible plant 5 - 70 years 15 14 Common general 5 - 70 years 380 370 Utility plant 5,343 4,975 Accumulated depreciation and amortization (1,992) (1,854) Utility plant, net 3,351 3,121 Construction work-in-progress 236 219 Property, plant and equipment, net $ 3,587 $ 3,340 |
EEGH | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Utility Plant: Interstate natural gas pipeline and storage assets 21 - 52 years $ 8,922 $ 8,675 Intangible plant 5 - 18 years 113 110 Utility plant in-service 9,035 8,785 Accumulated depreciation and amortization (3,039) (2,901) Utility plant in-service, net 5,996 5,884 Nonutility Plant: LNG facility 40 years 4,522 4,475 Intangible plant 14 years 25 25 Nonutility plant 4,547 4,500 Accumulated depreciation and amortization (542) (423) Nonutility plant, net 4,005 4,077 10,001 9,961 Construction work- in-progress 201 239 Property, plant and equipment, net $ 10,202 $ 10,200 |
EGTS | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment, net consists of the following as of December 31 (in millions): Depreciable Life 2022 2021 Interstate natural gas pipeline and storage assets 28 - 50 years $ 6,724 $ 6,517 Intangible plant 12 - 20 years 79 74 Plant in-service 6,803 6,591 Accumulated depreciation and amortization (2,440) (2,339) 4,363 4,252 Construction work-in-progress 141 188 Property, plant and equipment, net $ 4,504 $ 4,440 |
Jointly Owned Utility Facilit_2
Jointly Owned Utility Facilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent the Company's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Company Facility In Depreciation and Work-in- Share Service Amortization Progress PacifiCorp: Jim Bridger Nos. 1-4 67 % $ 1,529 $ 914 $ 39 Hunter No. 1 94 517 227 3 Hunter No. 2 60 305 148 6 Wyodak 80 491 273 1 Colstrip Nos. 3 and 4 10 262 178 — Hermiston 50 189 106 — Craig Nos. 1 and 2 19 372 331 — Hayden No. 1 25 77 52 — Hayden No. 2 13 44 31 — Transmission and distribution facilities Various 916 274 129 Total PacifiCorp 4,702 2,534 178 MidAmerican Energy: Louisa No. 1 88 % 976 511 4 Quad Cities Nos. 1 and 2 (1) 25 730 482 11 Walter Scott, Jr. No. 3 79 964 624 13 Walter Scott, Jr. No. 4 (2) 60 171 127 7 George Neal No. 4 41 321 184 6 Ottumwa No. 1 (2) 52 569 280 19 George Neal No. 3 72 535 312 20 Transmission facilities Various 267 101 2 Total MidAmerican Energy 4,533 2,621 82 NV Energy: Navajo 11 % 1 4 — Valmy 50 399 327 2 On Line Transmission Line 25 161 34 1 Transmission facilities Various 60 29 1 Total NV Energy 621 394 4 BHE Pipeline Group: Ellisburg Pool 39 % 32 11 — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Common Facilities Various 275 176 — Total BHE Pipeline Group 731 330 8 Total $ 10,587 $ 5,879 $ 272 (1) Includes amounts related to nuclear fuel. |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent PacifiCorp's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Facility Accumulated Construction PacifiCorp in Depreciation and Work-in- Share Service Amortization Progress Jim Bridger Nos. 1 - 4 67 % $ 1,529 $ 914 $ 39 Hunter No. 1 94 517 227 3 Hunter No. 2 60 305 148 6 Wyodak 80 491 273 1 Colstrip Nos. 3 and 4 10 262 178 — Hermiston 50 189 106 — Craig Nos. 1 and 2 19 372 331 — Hayden No. 1 25 77 52 — Hayden No. 2 13 44 31 — Transmission and distribution facilities Various 916 274 129 Total $ 4,702 $ 2,534 $ 178 |
MEC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent MidAmerican Energy's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Company Plant in Depreciation and Work-in- Share Service Amortization Progress Louisa Unit No. 1 88 % $ 976 $ 511 $ 4 Quad Cities Unit Nos. 1 & 2 (1) 25 730 482 11 Walter Scott, Jr. Unit No. 3 79 964 624 13 Walter Scott, Jr. Unit No. 4 (2) 60 171 127 7 George Neal Unit No. 4 41 321 184 6 Ottumwa Unit No. 1 (2) 52 569 280 19 George Neal Unit No. 3 72 535 312 20 Transmission facilities Various 267 101 2 Total $ 4,533 $ 2,621 $ 82 (1) Includes amounts related to nuclear fuel. (2) Plant in-service and accumulated depreciation and amortization amounts are net of credits applied under Iowa regulatory arrangements totaling $733 million and $150 million, respectively. |
NPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent Nevada Power's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Nevada Construction Power's Utility Accumulated Work-in- Share Plant Depreciation Progress Navajo Generating Station (1) 11 % $ 1 $ 4 $ — ON Line Transmission Line 19 121 26 1 Other transmission facilities Various 56 27 — Total $ 178 $ 57 $ 1 (1) Represents Nevada Power's proportionate share of capitalized asset retirement costs to retire the Navajo Generating Station, which was shut down in November 2019. |
SPPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent Sierra Pacific's share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Sierra Construction Pacific's Utility Accumulated Work-in- Share Plant Depreciation Progress Valmy Generating Station 50 % $ 399 $ 327 $ 2 ON Line Transmission Line 6 40 8 — Valmy Transmission 50 4 2 1 Total $ 443 $ 337 $ 3 |
EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent Eastern Energy Gas' share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction Eastern Energy Gas' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 32 $ 11 $ — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Tioga 56 69 30 2 Total $ 456 $ 154 $ 8 |
EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Schedule of Jointly Owned Utility Facilities | The amounts shown in the table below represent EGTS' share in each jointly owned facility included in property, plant and equipment, net as of December 31, 2022 (dollars in millions): Accumulated Construction EGTS' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 32 $ 11 $ — Ellisburg Station 50 26 8 3 Harrison 50 53 18 — Leidy 50 143 47 1 Oakford 50 202 70 4 Total $ 456 $ 154 $ 8 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Lessee, Lease, Description [Line Items] | |
Schedule of Operating and Finance Lease | The following table summarizes the Company's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 545 $ 524 Finance leases 418 448 Total right-of-use assets $ 963 $ 972 Lease liabilities: Operating leases $ 605 $ 577 Finance leases 432 463 Total lease liabilities $ 1,037 $ 1,040 |
Schedule of Lease Cost | The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 552 $ 611 $ 592 Operating 136 161 151 Finance: Amortization 20 23 18 Interest 36 38 40 Short-term 44 15 20 Total lease costs $ 788 $ 848 $ 821 Weighted-average remaining lease term (years): Operating leases 7.4 7.6 7.4 Finance leases 28.1 28.1 27.5 Weighted-average discount rate: Operating leases 4.1 % 4.3 % 4.5 % Finance leases 8.6 % 8.6 % 8.5 % |
Schedule of Operating and Finance Lease, Supplemental Cash Flow | The following table summarizes the Company's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (141) $ (163) $ (152) Operating cash flows from finance leases (36) (38) (40) Financing cash flows from finance leases (25) (28) (24) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 131 $ 119 $ 83 Finance leases 3 2 19 |
Schedule of Lease Maturity | The Company has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 158 $ 63 $ 221 2024 126 62 188 2025 101 61 162 2026 78 60 138 2027 53 56 109 Thereafter 189 559 748 Total undiscounted lease payments 705 861 1,566 Less - amounts representing interest (100) (429) (529) Lease liabilities $ 605 $ 432 $ 1,037 Sierra Pacific has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 1 $ 16 $ 17 2024 1 15 16 2025 1 16 17 2026 1 15 16 2027 1 13 14 Thereafter 23 137 160 Total undiscounted lease payments 28 212 240 Less - amounts representing interest (13) (104) (117) Lease liabilities $ 15 $ 108 $ 123 |
PAC | |
Lessee, Lease, Description [Line Items] | |
Schedule of Operating and Finance Lease | The following table summarizes PacifiCorp's leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 9 11 Total right-of-use assets $ 20 $ 22 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 11 12 Total lease liabilities $ 22 $ 23 |
Schedule of Lease Cost | The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 61 $ 56 $ 60 Operating 3 3 3 Finance: Amortization 1 5 2 Interest 1 2 2 Short-term 5 3 1 Total lease costs $ 71 $ 69 $ 68 Weighted-average remaining lease term (years): Operating leases 11.4 12.7 13.9 Finance leases 9.7 10.1 8.4 Weighted-average discount rate: Operating leases 3.9 % 3.7 % 3.8 % Finance leases 11.4 % 11.1 % 10.5 % |
Schedule of Lease Maturity | PacifiCorp has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 3 $ 2 $ 5 2024 2 2 4 2025 2 2 4 2026 1 2 3 2027 1 2 3 Thereafter 5 8 13 Total undiscounted lease payments 14 18 32 Less - amounts representing interest (3) (7) (10) Lease liabilities $ 11 $ 11 $ 22 |
NPC | |
Lessee, Lease, Description [Line Items] | |
Schedule of Operating and Finance Lease | The following table summarizes Nevada Power's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 9 $ 10 Finance leases 303 326 Total right-of-use assets $ 312 $ 336 Lease liabilities: Operating leases $ 11 $ 13 Finance leases 313 336 Total lease liabilities $ 324 $ 349 |
Schedule of Lease Cost | The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 369 $ 449 $ 434 Operating 2 2 3 Finance: Amortization 14 13 12 Interest 27 28 29 Total lease costs $ 412 $ 492 $ 478 Weighted-average remaining lease term (years): Operating leases 4.8 5.7 6.5 Finance leases 29.1 28.7 28.7 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.6 % |
Schedule of Operating and Finance Lease, Supplemental Cash Flow | The following table summarizes Nevada Power's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (3) $ (3) $ (3) Operating cash flows from finance leases (28) (29) (34) Financing cash flows from finance leases (17) (16) (15) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ — $ 1 Finance leases 3 1 9 |
Schedule of Lease Maturity | Nevada Power has the following remaining lease commitments as of December 31, 2022 (in millions): Operating Finance Total 2023 $ 2 $ 44 $ 46 2024 3 44 47 2025 3 43 46 2026 3 44 47 2027 2 42 44 Thereafter — 414 414 Total undiscounted lease payments 13 631 644 Less - amounts representing interest (2) (318) (320) Lease liabilities $ 11 $ 313 $ 324 |
SPPC | |
Lessee, Lease, Description [Line Items] | |
Schedule of Operating and Finance Lease | The following table summarizes Sierra Pacific's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 16 $ 15 Finance leases 105 111 Total right-of-use assets $ 121 $ 126 Lease liabilities: Operating leases $ 15 $ 15 Finance leases 108 115 Total lease liabilities $ 123 $ 130 |
Schedule of Lease Cost | The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2022 2021 2020 Variable $ 103 $ 86 $ 78 Operating 1 1 2 Finance: Amortization 5 5 4 Interest 8 9 9 Total lease costs $ 117 $ 101 $ 93 Weighted-average remaining lease term (years): Operating leases 26.0 27.4 27.2 Finance leases 28.2 28.4 27.8 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.4 % 8.2 % 8.1 % |
Schedule of Operating and Finance Lease, Supplemental Cash Flow | The following table summarizes Sierra Pacific's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (1) $ (2) Operating cash flows from finance leases (9) (9) (6) Financing cash flows from finance leases (7) (7) (5) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1 $ — $ — Finance leases 1 1 89 |
EGTS | |
Lessee, Lease, Description [Line Items] | |
Schedule of Operating and Finance Lease | The following table summarizes EGTS' leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2022 2021 Right-of-use assets: Operating leases $ 19 $ 20 Total right-of-use assets $ 19 $ 20 Lease liabilities: Operating leases $ 18 $ 18 Total lease liabilities $ 18 $ 18 |
Schedule of Lease Cost | The following table summarizes EGTS' lease costs for the years ended December 31 (in millions): 2022 2021 2020 Operating $ 2 $ 3 $ 6 Short-term — — 3 Total lease costs $ 2 $ 3 $ 9 Weighted-average remaining lease term (years): Operating leases 13.7 14.7 11.7 Finance leases 0.0 0.0 4.6 Weighted-average discount rate: Operating leases 4.3 % 4.3 % 4.4 % Finance leases — % — % 2.6 % |
Schedule of Operating and Finance Lease, Supplemental Cash Flow | The following table summarizes EGTS' supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2 $ 3 $ 9 Operating cash flows from finance leases — 1 — Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ — $ — $ 1 |
Schedule of Operating Lease Maturity | EGTS has the following remaining operating lease commitments as of December 31, 2022 (in millions): 2023 $ 2 2024 2 2025 2 2026 2 2027 2 Thereafter 14 Total undiscounted lease payments 24 Less - amounts representing interest (6) Lease liabilities $ 18 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future regulated rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred net power costs 1 year $ 1,478 $ 531 Asset retirement obligations 15 years 835 742 Employee benefit plans (1) 14 years 490 472 Deferred income taxes (2) Various 373 342 Asset disposition costs Various 231 285 Demand side management 10 years 224 211 Levelized depreciation 28 years 151 135 Unrealized losses on regulated derivative contracts 1 year 112 157 Environmental costs 30 years 111 108 Wildfire mitigation and vegetation management costs Various 111 21 Deferred operating costs 10 years 83 103 Other Various 863 856 Total regulatory assets $ 5,062 $ 3,963 Reflected as: Current assets $ 1,319 $ 544 Noncurrent assets 3,743 3,419 Total regulatory assets $ 5,062 $ 3,963 (1) Includes amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. (2) Amounts primarily represent income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. |
Schedule of Regulatory Liabilities | The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 2,901 $ 3,185 Cost of removal (2) 27 years 2,578 2,424 Revenue sharing mechanisms 2 years 426 188 Unrealized gains on regulated derivative contracts 1 year 343 86 Asset retirement obligations 31 years 250 345 Levelized depreciation 28 years 245 259 Employee benefit plans (3) Various 180 243 Other Various 446 484 Total regulatory liabilities $ 7,369 $ 7,214 Reflected as: Current liabilities $ 299 $ 254 Noncurrent liabilities 7,070 6,960 Total regulatory liabilities $ 7,369 $ 7,214 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (3) Includes amounts not yet recognized as a component of net periodic benefit cost that are expected to be returned to customers in future periods when recognized. |
PAC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future rates. PacifiCorp's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 16 years $ 290 $ 286 Utah mine disposition (2) Various 115 116 Unamortized contract values 1 year 18 36 Deferred net power costs 2 years 546 151 Environmental costs 30 years 111 108 Asset retirement obligation 29 years 275 241 Demand side management (DSM) 10 years 224 211 Wildfire mitigation and vegetation management costs Various 111 21 Other Various 190 182 Total regulatory assets $ 1,880 $ 1,352 Reflected as: Current assets $ 275 $ 65 Noncurrent assets 1,605 1,287 Total regulatory assets $ 1,880 $ 1,352 (1) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in rates when recognized. (2) Amounts represent regulatory assets established as a result of the Utah mine disposition in 2015 for the United Mine Workers of America ("UMWA") 1974 Pension Plan withdrawal and closure costs incurred to date considered probable of recovery. |
Schedule of Regulatory Liabilities | Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. PacifiCorp's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Cost of removal (1) 26 years $ 1,332 $ 1,187 Deferred income taxes (2) Various 1,164 1,307 Unrealized gain on regulated derivatives 1 year 270 53 Other Various 173 221 Total regulatory liabilities $ 2,939 $ 2,768 Reflected as: Current liabilities $ 96 $ 118 Noncurrent liabilities 2,843 2,650 Total regulatory liabilities $ 2,939 $ 2,768 (1) Amounts represent estimated costs, as generally accrued through depreciation rates, of removing property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (2) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable of being passed on to customers, partially offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. |
MEC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future regulated rates. MidAmerican Energy's regulatory assets reflected on the Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Asset retirement obligations (1) 9 years $ 469 $ 393 Employee benefit plans (2) 15 years 47 42 Other Various 34 38 Total $ 550 $ 473 (1) Amount predominantly relates to AROs for fossil-fueled and wind-powered generating facilities. Refer to Note 11 for a discussion of AROs. (2) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. |
Schedule of Regulatory Liabilities | Regulatory liabilities represent amounts expected to be returned to customers in future periods. MidAmerican Energy's regulatory liabilities reflected on the Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Cost of removal (1) 29 years $ 392 $ 394 Iowa electric revenue sharing (2) 1 year 312 115 Asset retirement obligations (3) 31 years 247 341 Deferred income taxes (4) Various 72 83 Pre-funded AFUDC on transmission MVPs (5) 57 years 34 34 Unrealized gain on regulated derivative contracts 1 year 31 26 Employee benefit plans (6) N/A — 55 Other Various 31 32 Total $ 1,119 $ 1,080 (1) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing utility plant in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. (2) Represents current-year accruals under a regulatory arrangement in Iowa in which equity returns exceeding specified thresholds reduce utility plant upon final determination. (3) Amount represents the excess of nuclear decommission trust assets over the related ARO. Refer to Note 11 for a discussion of AROs. (4) Amounts primarily represent income tax liabilities primarily related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to state accelerated tax depreciation and certain property-related basis differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (5) Represents AFUDC accrued on transmission MVPs that is deducted from rate base as a result of the inclusion of related construction work-in-progress in rate base. (6) Represents amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. |
NPC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future rates. Nevada Power's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred energy costs 1 year 654 273 Decommissioning costs 3 years 116 169 Merger costs from 1999 merger 22 years 105 110 Unrealized loss on regulated derivative contracts 1 year 75 117 Asset retirement obligations 5 years 69 73 Deferred operating costs 13 years 67 93 Other Various 208 184 Total regulatory assets $ 1,294 $ 1,019 Reflected as: Current assets $ 666 $ 291 Noncurrent assets 628 728 Total regulatory assets $ 1,294 $ 1,019 |
Schedule of Regulatory Liabilities | Regulatory liabilities represent amounts that are expected to be returned to customers in future periods. Nevada Power's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 560 $ 603 Cost of removal (2) 31 years 358 348 Earning sharing mechanism 4 years 114 73 Other Various 106 125 Total regulatory liabilities $ 1,138 $ 1,149 Reflected as: Current liabilities $ 45 $ 49 Noncurrent liabilities 1,093 1,100 Total regulatory liabilities $ 1,138 $ 1,149 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to accelerated tax depreciation and certain property-related basis differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. |
SPPC | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future rates. Sierra Pacific's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred energy costs 1 year $ 277 $ 107 Natural disaster protection plan 1 year 69 62 Merger costs from 1999 merger 24 years 63 66 Employee benefit plans (1) 8 years 57 46 Deferred operating costs 7 years 35 31 Unrealized loss on regulated derivative contracts 1 year 21 35 Other Various 89 93 Total regulatory assets $ 611 $ 440 Reflected as: Current assets $ 357 $ 177 Noncurrent assets 254 263 Total regulatory assets $ 611 $ 440 (1) Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. |
Schedule of Regulatory Liabilities | Regulatory liabilities represent amounts that are expected to be returned to customers in future periods. Sierra Pacific's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Deferred income taxes (1) Various $ 223 $ 234 Cost of removal (2) 35 years 200 201 Other Various 32 28 Total regulatory liabilities $ 455 $ 463 Reflected as: Current liabilities $ 19 $ 19 Noncurrent liabilities 436 444 Total regulatory liabilities $ 455 $ 463 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to accelerated tax depreciation and certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. |
EEGH | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Eastern Energy Gas' regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 11 years $ 32 $ 62 Other Various 16 12 Total regulatory assets $ 48 $ 74 Reflected as: Other current assets $ 8 $ 6 Other assets 40 68 Total regulatory assets $ 48 $ 74 (1) Represents costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain rate-regulated subsidiaries. |
Schedule of Regulatory Liabilities | Eastern Energy Gas' regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Income taxes refundable through future rates (1) Various $ 406 $ 468 Other postretirement benefit costs (2) Various 123 116 Provision for rate refunds (3) 90 — Cost of removal (4) 53 years 82 73 Other Various 21 28 Total regulatory liabilities $ 722 $ 685 Reflected as: Current liabilities $ 126 $ 40 Noncurrent liabilities 596 645 Total regulatory liabilities $ 722 $ 685 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred. (3) Reflects amounts expected to be refunded to customers in late February 2023 in connection with the EGTS rate case. See below for more information. |
EGTS | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | |
Schedule of Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future regulated rates. EGTS' regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Employee benefit plans (1) 11 years $ 31 $ 58 Other Various 8 6 Total regulatory assets $ 39 $ 64 Reflected as: Current assets $ 5 $ 2 Noncurrent assets 34 62 Total regulatory assets $ 39 $ 64 (1) Represents costs expected to be recovered through future rates generally over the expected remaining service period of plan participants. |
Schedule of Regulatory Liabilities | Regulatory liabilities represent income to be recognized or amounts expected to be returned to customers in future periods. EGTS' regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): Weighted Average Remaining Life 2022 2021 Income taxes refundable through future rates (1) Various $ 382 $ 391 Other postretirement benefit costs (2) Various 123 116 Provision for rate refunds (3) 90 — Cost of removal (4) 53 years 24 16 Other Various 8 9 Total regulatory liabilities $ 627 $ 532 Reflected as: Current liabilities $ 109 $ 25 Noncurrent liabilities 518 507 Total regulatory liabilities $ 627 $ 532 (1) Amounts primarily represent income tax liabilities related to the federal tax rate change from 35% to 21% that are probable to be passed on to customers, offset by income tax benefits related to certain property-related basis differences and other various differences that were previously passed on to customers and will be included in regulated rates when the temporary differences reverse. (2) Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred. (3) Reflects amounts expected to be refunded to customers in late February 2023 in connection with the EGTS rate case. See below for more information. (4) Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Refer to Note 12 for more information. |
Investments and Restricted Ca_2
Investments and Restricted Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Cash Equivalents | Investments and restricted cash and cash equivalents and investments consists of the following as of December 31 (in millions): 2022 2021 Investments: BYD Company Limited common stock $ 3,763 $ 7,693 U.S. Treasury Bills 1,931 — Rabbi trusts 433 492 Other 335 305 Total investments 6,462 8,490 Equity method investments: BHE Renewables tax equity investments 4,535 4,931 Electric Transmission Texas, LLC 623 595 Iroquois Gas Transmission System, L.P. 600 735 Other 304 293 Total equity method investments 6,062 6,554 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 664 768 Other restricted cash and cash equivalents 226 148 Total restricted cash and cash equivalents and investments 890 916 Total investments and restricted cash and cash equivalents and investments $ 13,414 $ 15,960 Reflected as: Other current assets $ 2,141 $ 172 Noncurrent assets 11,273 15,788 Total investments and restricted cash and cash equivalents and investments $ 13,414 $ 15,960 |
Schedule of Unrealized Gain (Loss) on Investments | (Losses) gains on marketable securities, net recognized during the period consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Unrealized (losses) gains recognized on marketable securities held at the reporting date $ (1,487) $ 1,819 $ 4,791 Net (losses) gains recognized on marketable securities sold during the period (515) 4 6 (Losses) gains on marketable securities, net $ (2,002) $ 1,823 $ 4,797 |
MEC | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Cash Equivalents | Investments and restricted investments consists of the following amounts as of December 31 (in millions): 2022 2021 Nuclear decommissioning trust $ 664 $ 768 Rabbi trusts 215 233 Other 23 25 Total $ 902 $ 1,026 |
EEGH | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Cash Equivalents | Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2022 2021 Investments: Investment funds $ 14 $ 13 Equity method investments: Iroquois 264 399 Total investments 278 412 Restricted cash and cash equivalents: Customer deposits 30 17 Total restricted cash and cash equivalents 30 17 Total investments and restricted cash and cash equivalents $ 308 $ 429 Reflected as: Current assets $ 30 $ 17 Noncurrent assets 278 412 Total investments and restricted cash and cash equivalents $ 308 $ 429 |
EGTS | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Cash Equivalents | Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2022 2021 Investments: Investment funds $ 14 $ 13 Restricted cash and cash equivalents: Customer deposits 29 15 Total restricted cash and cash equivalents 29 15 Total investments and restricted cash and cash equivalents $ 43 $ 28 Reflected as: Current assets $ 29 $ 15 Noncurrent assets 14 13 Total investments and restricted cash and cash equivalents $ 43 $ 28 |
Short-term Debt and Credit Fa_2
Short-term Debt and Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31 (in millions): MidAmerican NV Northern BHE BHE PacifiCorp Funding Energy Powergrid Canada HomeServices Total (1) 2022: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 296 $ 793 $ 2,925 $ 10,873 Less: Short-term debt (245) — — — (120) (197) (557) (1,119) Tax-exempt bond support and letters of credit — (249) (370) — — (1) — (620) Net credit facilities $ 3,255 $ 951 $ 1,139 $ 650 $ 176 $ 595 $ 2,368 $ 9,134 2021: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 271 $ 851 $ 3,300 $ 11,281 Less: Short-term debt — — — (339) (1) (245) (1,424) (2,009) Tax-exempt bond support and letters of credit — (218) (370) — — (1) — (589) Net credit facilities $ 3,500 $ 982 $ 1,139 $ 311 $ 270 $ 605 $ 1,876 $ 8,683 (1) The table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method. (2) Includes $55 million and $1 million, respectively, drawn on capital expenditure and other uncommitted credit facilities at Northern Powergrid as of December 31, 2022 and 2021. |
PAC | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes PacifiCorp's availability under its unsecured credit facility as of December 31 (in millions): 2022: Credit facility $ 1,200 Less: Tax-exempt bond support and letters of credit (249) Net credit facility $ 951 2021: Credit facility $ 1,200 Less: Tax-exempt bond support (218) Net credit facility $ 982 |
MEC | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes MidAmerican Energy's availability under its unsecured revolving credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 1,505 $ 1,505 Less: Variable-rate tax-exempt bond support (370) (370) Net credit facilities $ 1,135 $ 1,135 |
NPC | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes Nevada Power's availability under its credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 400 $ 400 Short-term debt — (180) Net credit facilities $ 400 $ 220 |
SPPC | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes Sierra Pacific's availability under its credit facilities as of December 31 (in millions): 2022 2021 Credit facilities $ 250 $ 250 Short-term debt — (159) Net credit facilities $ 250 $ 91 |
BHE Debt (Tables)
BHE Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 2.80% Senior Notes, due 2023 $ 400 $ 400 $ 398 3.75% Senior Notes, due 2023 500 500 499 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,245 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 266 260 3.70% Senior Notes, due 2030 1,100 1,095 1,096 1.65% Senior Notes, due 2031 500 497 497 6.125% Senior Bonds, due 2036 1,670 1,661 1,661 5.95% Senior Bonds, due 2037 550 548 548 6.50% Senior Bonds, due 2037 225 223 223 5.15% Senior Notes, due 2043 750 740 740 4.50% Senior Notes, due 2045 750 738 738 3.80% Senior Notes, due 2048 750 738 738 4.45% Senior Notes, due 2049 1,000 990 990 4.25% Senior Notes, due 2050 900 889 889 2.85% Senior Notes, due 2051 1,500 1,487 1,488 4.60% Senior Notes, due 2053 1,000 987 — Total BHE Senior Debt $ 14,101 $ 13,996 $ 13,003 Reflected as: Current liabilities $ 900 $ — Noncurrent liabilities 13,096 13,003 Total BHE Senior Debt $ 13,996 $ 13,003 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2022 2021 5.00% Junior subordinated debentures, due 2057 100 100 100 Total BHE junior subordinated debentures - noncurrent $ 100 $ 100 $ 100 Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 PacifiCorp $ 9,742 $ 9,666 $ 8,730 MidAmerican Funding 8,057 7,954 7,946 NV Energy 4,386 4,354 3,675 Northern Powergrid 3,085 3,054 3,287 BHE Pipeline Group 5,518 5,849 5,924 BHE Transmission 3,509 3,495 3,906 BHE Renewables 3,064 3,027 3,043 HomeServices 140 140 148 Total subsidiary debt $ 37,501 $ 37,539 $ 36,659 Reflected as: Current liabilities $ 2,301 $ 1,265 Noncurrent liabilities 35,238 35,394 Total subsidiary debt $ 37,539 $ 36,659 PacifiCorp's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 $ 1,377 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 1,094 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 2,042 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 1,238 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 2,761 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 9,742 $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 240 $ 240 Fair value adjustment — (15) (15) MidAmerican Funding, net of fair value adjustments 239 225 225 MidAmerican Energy: First Mortgage Bonds: 3.70%, due 2023 250 250 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2022-3.83%, 2021-0.13%), due 2023-2047 370 369 368 Total MidAmerican Energy 7,818 7,729 7,721 Total MidAmerican Funding $ 8,057 $ 7,954 $ 7,946 NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total Nevada Power 3,234 3,195 2,499 Fair value adjustments — 10 11 Total Nevada Power, net of fair value adjustments 3,234 3,205 2,510 Sierra Pacific: General and refunding mortgage securities: 3.375% Series T, due 2023 250 249 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total Sierra Pacific 1,152 1,148 1,164 Fair value adjustments — 1 1 Total Sierra Pacific, net of fair value adjustment 1,152 1,149 1,165 Total NV Energy $ 4,386 $ 4,354 $ 3,675 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 4.133% European Investment Bank loans, due 2022 $ — $ — $ 204 7.25% Bonds, due 2022 — — 269 2.50% Bonds, due 2025 182 181 202 2.073% European Investment Bank loan, due 2025 60 62 69 2.564% European Investment Bank loans, due 2027 302 301 337 7.25% Bonds, due 2028 224 227 254 4.375% Bonds, due 2032 182 179 200 5.125% Bonds, due 2035 242 240 268 5.125% Bonds, due 2035 182 180 201 2.750% Bonds, due 2049 182 178 200 3.250% Bonds, due 2052 423 419 — 2.250% Bonds, due 2059 363 355 398 1.875% Bonds, due 2062 363 356 398 Variable-rate loan, due 2025 (2) 163 164 — Variable-rate loan, due 2026 (3) 217 212 287 Total Northern Powergrid $ 3,085 $ 3,054 $ 3,287 (1) The par values for these debt instruments are denominated in sterling. (2) Amortizes quarterly and the loan is 70% floating and 30% fixed. The Company has entered into an interest rate swap that fixes the interest rate on 100% of the floating rate portion. The variable interest rate as of December 31, 2022, was 5.20% (including 2.00% margin) and the average fixed interest rate was 3.09% (including 2.00% margin). (3) Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 80% of the outstanding debt. The variable interest rate as of December 31, 2022 was 4.98% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.95%. BHE Pipeline Group's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total Eastern Energy Gas 3,918 3,892 3,906 Fair value adjustments — 368 430 Total Eastern Energy Gas, net of fair value adjustments 3,918 4,260 4,336 Northern Natural Gas: 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 652 651 3.40% Senior Bonds, due 2051 550 540 540 Total Northern Natural Gas 1,600 1,589 1,588 Total BHE Pipeline Group $ 5,518 $ 5,849 $ 5,924 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates at both December 31, 2022 and 2021 that averaged 3.32%. BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ — $ — $ 158 Total AltaLink Investments, L.P. — — 158 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 — — 218 Series 2013-4 Notes, 3.668%, due 2023 369 369 395 Series 2014-1 Notes, 3.399%, due 2024 258 258 277 Series 2016-1 Notes, 2.747%, due 2026 258 258 276 Series 2020-1 Notes, 1.509%, due 2030 166 165 177 Series 2022-1 Notes, 4.692%, due 2032 203 202 — Series 2006-1 Notes, 5.249%, due 2036 111 111 118 Series 2010-1 Notes, 5.381%, due 2040 92 92 99 Series 2010-2 Notes, 4.872%, due 2040 111 110 118 Series 2011-1 Notes, 4.462%, due 2041 203 202 217 Series 2012-1 Notes, 3.990%, due 2042 387 383 410 Series 2013-3 Notes, 4.922%, due 2043 258 258 276 Series 2014-3 Notes, 4.054%, due 2044 218 216 232 Series 2015-1 Notes, 4.090%, due 2045 258 257 275 Series 2016-2 Notes, 3.717%, due 2046 332 330 354 Series 2013-1 Notes, 4.446%, due 2053 184 184 197 Series 2014-2 Notes, 4.274%, due 2064 96 95 103 Total AltaLink, L.P. 3,504 3,490 3,742 Other: Construction Loan, 5.620%, due 2024 5 5 6 Total BHE Transmission $ 3,509 $ 3,495 $ 3,906 (1) The par values for these debt instruments are denominated in Canadian dollars. BHE Renewables' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 57 $ 56 $ 62 Solar Star Funding Senior Notes, 3.950%, due 2035 244 242 256 Solar Star Funding Senior Notes, 5.375%, due 2035 787 781 819 Grande Prairie Wind Senior Notes, 3.860%, due 2037 269 267 297 Topaz Solar Farms Senior Notes, 5.750%, due 2039 573 568 600 Topaz Solar Farms Senior Notes, 4.875%, due 2039 162 160 170 Alamo 6 Senior Notes, 4.170%, due 2042 190 188 197 Other — — 5 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 97 96 117 Marshall Wind Term Loan, due 2026 (2) 57 56 63 Flat Top Wind I Term Loan, due 2028 (2) 102 99 113 Mariah Del Norte Term Loan, due 2028 (2) 56 54 — Mariah Del Norte Term Loan, due 2032 (2) 142 138 — Pinyon Pines I and II Term Loans, due 2034 (2) 328 322 344 Total BHE Renewables $ 3,064 $ 3,027 $ 3,043 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or SOFR plus a margin that varies during the terms of the agreements. The Company has entered into interest rate swaps that fix the interest rate on 100% of the TX Jumbo Road, Marshall Wind and Pinyon Pines outstanding debt. The fixed interest rates as of December 31, 2022 and 2021 ranged from 3.23% to 3.88%. The variable interest rate on the Flat Top Wind I and Mariah Del Norte outstanding debt was 9.82% as of December 31, 2022. HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Variable-rate: Variable-rate term loan (2022 - 5.242%, 2021 - 0.950%), due 2026 (1) $ 140 $ 140 $ 148 (1) Term loan amortizes quarterly and variable-rate resets monthly. MidAmerican Energy's long-term debt consists of the following, including amounts maturing within one year and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligations, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2022-3.83%, 2021-0.13%): Due 2023, issued in 1993 7 7 7 Due 2023, issued in 2008 57 57 57 Due 2024 35 35 35 Due 2025 13 13 13 Due 2036 33 33 33 Due 2038 45 45 45 Due 2046 30 30 29 Due 2047 150 149 149 Total long-term debt $ 7,818 $ 7,729 $ 7,721 Reflected as: 2022 2021 Current portion of long-term debt $ 317 $ — Long-term debt 7,412 7,721 Total long-term debt $ 7,729 $ 7,721 |
Subsidiary Debt (Tables)
Subsidiary Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 2.80% Senior Notes, due 2023 $ 400 $ 400 $ 398 3.75% Senior Notes, due 2023 500 500 499 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,245 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 266 260 3.70% Senior Notes, due 2030 1,100 1,095 1,096 1.65% Senior Notes, due 2031 500 497 497 6.125% Senior Bonds, due 2036 1,670 1,661 1,661 5.95% Senior Bonds, due 2037 550 548 548 6.50% Senior Bonds, due 2037 225 223 223 5.15% Senior Notes, due 2043 750 740 740 4.50% Senior Notes, due 2045 750 738 738 3.80% Senior Notes, due 2048 750 738 738 4.45% Senior Notes, due 2049 1,000 990 990 4.25% Senior Notes, due 2050 900 889 889 2.85% Senior Notes, due 2051 1,500 1,487 1,488 4.60% Senior Notes, due 2053 1,000 987 — Total BHE Senior Debt $ 14,101 $ 13,996 $ 13,003 Reflected as: Current liabilities $ 900 $ — Noncurrent liabilities 13,096 13,003 Total BHE Senior Debt $ 13,996 $ 13,003 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2022 2021 5.00% Junior subordinated debentures, due 2057 100 100 100 Total BHE junior subordinated debentures - noncurrent $ 100 $ 100 $ 100 Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 PacifiCorp $ 9,742 $ 9,666 $ 8,730 MidAmerican Funding 8,057 7,954 7,946 NV Energy 4,386 4,354 3,675 Northern Powergrid 3,085 3,054 3,287 BHE Pipeline Group 5,518 5,849 5,924 BHE Transmission 3,509 3,495 3,906 BHE Renewables 3,064 3,027 3,043 HomeServices 140 140 148 Total subsidiary debt $ 37,501 $ 37,539 $ 36,659 Reflected as: Current liabilities $ 2,301 $ 1,265 Noncurrent liabilities 35,238 35,394 Total subsidiary debt $ 37,539 $ 36,659 PacifiCorp's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 $ 1,377 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 1,094 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 2,042 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 1,238 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 2,761 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 9,742 $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 240 $ 240 Fair value adjustment — (15) (15) MidAmerican Funding, net of fair value adjustments 239 225 225 MidAmerican Energy: First Mortgage Bonds: 3.70%, due 2023 250 250 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2022-3.83%, 2021-0.13%), due 2023-2047 370 369 368 Total MidAmerican Energy 7,818 7,729 7,721 Total MidAmerican Funding $ 8,057 $ 7,954 $ 7,946 NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total Nevada Power 3,234 3,195 2,499 Fair value adjustments — 10 11 Total Nevada Power, net of fair value adjustments 3,234 3,205 2,510 Sierra Pacific: General and refunding mortgage securities: 3.375% Series T, due 2023 250 249 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total Sierra Pacific 1,152 1,148 1,164 Fair value adjustments — 1 1 Total Sierra Pacific, net of fair value adjustment 1,152 1,149 1,165 Total NV Energy $ 4,386 $ 4,354 $ 3,675 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 4.133% European Investment Bank loans, due 2022 $ — $ — $ 204 7.25% Bonds, due 2022 — — 269 2.50% Bonds, due 2025 182 181 202 2.073% European Investment Bank loan, due 2025 60 62 69 2.564% European Investment Bank loans, due 2027 302 301 337 7.25% Bonds, due 2028 224 227 254 4.375% Bonds, due 2032 182 179 200 5.125% Bonds, due 2035 242 240 268 5.125% Bonds, due 2035 182 180 201 2.750% Bonds, due 2049 182 178 200 3.250% Bonds, due 2052 423 419 — 2.250% Bonds, due 2059 363 355 398 1.875% Bonds, due 2062 363 356 398 Variable-rate loan, due 2025 (2) 163 164 — Variable-rate loan, due 2026 (3) 217 212 287 Total Northern Powergrid $ 3,085 $ 3,054 $ 3,287 (1) The par values for these debt instruments are denominated in sterling. (2) Amortizes quarterly and the loan is 70% floating and 30% fixed. The Company has entered into an interest rate swap that fixes the interest rate on 100% of the floating rate portion. The variable interest rate as of December 31, 2022, was 5.20% (including 2.00% margin) and the average fixed interest rate was 3.09% (including 2.00% margin). (3) Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 80% of the outstanding debt. The variable interest rate as of December 31, 2022 was 4.98% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.95%. BHE Pipeline Group's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total Eastern Energy Gas 3,918 3,892 3,906 Fair value adjustments — 368 430 Total Eastern Energy Gas, net of fair value adjustments 3,918 4,260 4,336 Northern Natural Gas: 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 652 651 3.40% Senior Bonds, due 2051 550 540 540 Total Northern Natural Gas 1,600 1,589 1,588 Total BHE Pipeline Group $ 5,518 $ 5,849 $ 5,924 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates at both December 31, 2022 and 2021 that averaged 3.32%. BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ — $ — $ 158 Total AltaLink Investments, L.P. — — 158 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 — — 218 Series 2013-4 Notes, 3.668%, due 2023 369 369 395 Series 2014-1 Notes, 3.399%, due 2024 258 258 277 Series 2016-1 Notes, 2.747%, due 2026 258 258 276 Series 2020-1 Notes, 1.509%, due 2030 166 165 177 Series 2022-1 Notes, 4.692%, due 2032 203 202 — Series 2006-1 Notes, 5.249%, due 2036 111 111 118 Series 2010-1 Notes, 5.381%, due 2040 92 92 99 Series 2010-2 Notes, 4.872%, due 2040 111 110 118 Series 2011-1 Notes, 4.462%, due 2041 203 202 217 Series 2012-1 Notes, 3.990%, due 2042 387 383 410 Series 2013-3 Notes, 4.922%, due 2043 258 258 276 Series 2014-3 Notes, 4.054%, due 2044 218 216 232 Series 2015-1 Notes, 4.090%, due 2045 258 257 275 Series 2016-2 Notes, 3.717%, due 2046 332 330 354 Series 2013-1 Notes, 4.446%, due 2053 184 184 197 Series 2014-2 Notes, 4.274%, due 2064 96 95 103 Total AltaLink, L.P. 3,504 3,490 3,742 Other: Construction Loan, 5.620%, due 2024 5 5 6 Total BHE Transmission $ 3,509 $ 3,495 $ 3,906 (1) The par values for these debt instruments are denominated in Canadian dollars. BHE Renewables' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 57 $ 56 $ 62 Solar Star Funding Senior Notes, 3.950%, due 2035 244 242 256 Solar Star Funding Senior Notes, 5.375%, due 2035 787 781 819 Grande Prairie Wind Senior Notes, 3.860%, due 2037 269 267 297 Topaz Solar Farms Senior Notes, 5.750%, due 2039 573 568 600 Topaz Solar Farms Senior Notes, 4.875%, due 2039 162 160 170 Alamo 6 Senior Notes, 4.170%, due 2042 190 188 197 Other — — 5 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 97 96 117 Marshall Wind Term Loan, due 2026 (2) 57 56 63 Flat Top Wind I Term Loan, due 2028 (2) 102 99 113 Mariah Del Norte Term Loan, due 2028 (2) 56 54 — Mariah Del Norte Term Loan, due 2032 (2) 142 138 — Pinyon Pines I and II Term Loans, due 2034 (2) 328 322 344 Total BHE Renewables $ 3,064 $ 3,027 $ 3,043 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or SOFR plus a margin that varies during the terms of the agreements. The Company has entered into interest rate swaps that fix the interest rate on 100% of the TX Jumbo Road, Marshall Wind and Pinyon Pines outstanding debt. The fixed interest rates as of December 31, 2022 and 2021 ranged from 3.23% to 3.88%. The variable interest rate on the Flat Top Wind I and Mariah Del Norte outstanding debt was 9.82% as of December 31, 2022. HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Variable-rate: Variable-rate term loan (2022 - 5.242%, 2021 - 0.950%), due 2026 (1) $ 140 $ 140 $ 148 (1) Term loan amortizes quarterly and variable-rate resets monthly. MidAmerican Energy's long-term debt consists of the following, including amounts maturing within one year and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligations, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2022-3.83%, 2021-0.13%): Due 2023, issued in 1993 7 7 7 Due 2023, issued in 2008 57 57 57 Due 2024 35 35 35 Due 2025 13 13 13 Due 2036 33 33 33 Due 2038 45 45 45 Due 2046 30 30 29 Due 2047 150 149 149 Total long-term debt $ 7,818 $ 7,729 $ 7,721 Reflected as: 2022 2021 Current portion of long-term debt $ 317 $ — Long-term debt 7,412 7,721 Total long-term debt $ 7,729 $ 7,721 |
Schedule of Maturities of Long-term Debt | The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2023 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total BHE senior notes $ 900 $ — $ 1,650 $ — $ — $ 11,551 $ 14,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 449 591 302 100 — 8,300 9,742 MidAmerican Funding 317 538 15 3 378 6,806 8,057 NV Energy 250 300 — 400 — 3,436 4,386 Northern Powergrid 56 57 435 75 302 2,160 3,085 BHE Pipeline Group 650 1,050 — 268 — 3,550 5,518 BHE Transmission 368 263 — 258 — 2,620 3,509 BHE Renewables 203 210 241 218 235 1,957 3,064 HomeServices 8 9 15 108 — — 140 Totals $ 3,201 $ 3,018 $ 2,658 $ 1,430 $ 915 $ 40,480 $ 51,702 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 2.80% Senior Notes, due 2023 $ 400 $ 400 $ 398 3.75% Senior Notes, due 2023 500 500 499 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,245 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 266 260 3.70% Senior Notes, due 2030 1,100 1,095 1,096 1.65% Senior Notes, due 2031 500 497 497 6.125% Senior Bonds, due 2036 1,670 1,661 1,661 5.95% Senior Bonds, due 2037 550 548 548 6.50% Senior Bonds, due 2037 225 223 223 5.15% Senior Notes, due 2043 750 740 740 4.50% Senior Notes, due 2045 750 738 738 3.80% Senior Notes, due 2048 750 738 738 4.45% Senior Notes, due 2049 1,000 990 990 4.25% Senior Notes, due 2050 900 889 889 2.85% Senior Notes, due 2051 1,500 1,487 1,488 4.60% Senior Notes, due 2053 1,000 987 — Total BHE Senior Debt $ 14,101 $ 13,996 $ 13,003 Reflected as: Current liabilities $ 900 $ — Noncurrent liabilities 13,096 13,003 Total BHE Senior Debt $ 13,996 $ 13,003 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2022 2021 5.00% Junior subordinated debentures, due 2057 100 100 100 Total BHE junior subordinated debentures - noncurrent $ 100 $ 100 $ 100 Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions): Par Value 2022 2021 PacifiCorp $ 9,742 $ 9,666 $ 8,730 MidAmerican Funding 8,057 7,954 7,946 NV Energy 4,386 4,354 3,675 Northern Powergrid 3,085 3,054 3,287 BHE Pipeline Group 5,518 5,849 5,924 BHE Transmission 3,509 3,495 3,906 BHE Renewables 3,064 3,027 3,043 HomeServices 140 140 148 Total subsidiary debt $ 37,501 $ 37,539 $ 36,659 Reflected as: Current liabilities $ 2,301 $ 1,265 Noncurrent liabilities 35,238 35,394 Total subsidiary debt $ 37,539 $ 36,659 PacifiCorp's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 $ 1,377 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 1,094 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 2,042 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 1,238 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 2,761 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 9,742 $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 240 $ 240 Fair value adjustment — (15) (15) MidAmerican Funding, net of fair value adjustments 239 225 225 MidAmerican Energy: First Mortgage Bonds: 3.70%, due 2023 250 250 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2022-3.83%, 2021-0.13%), due 2023-2047 370 369 368 Total MidAmerican Energy 7,818 7,729 7,721 Total MidAmerican Funding $ 8,057 $ 7,954 $ 7,946 NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total Nevada Power 3,234 3,195 2,499 Fair value adjustments — 10 11 Total Nevada Power, net of fair value adjustments 3,234 3,205 2,510 Sierra Pacific: General and refunding mortgage securities: 3.375% Series T, due 2023 250 249 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total Sierra Pacific 1,152 1,148 1,164 Fair value adjustments — 1 1 Total Sierra Pacific, net of fair value adjustment 1,152 1,149 1,165 Total NV Energy $ 4,386 $ 4,354 $ 3,675 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 4.133% European Investment Bank loans, due 2022 $ — $ — $ 204 7.25% Bonds, due 2022 — — 269 2.50% Bonds, due 2025 182 181 202 2.073% European Investment Bank loan, due 2025 60 62 69 2.564% European Investment Bank loans, due 2027 302 301 337 7.25% Bonds, due 2028 224 227 254 4.375% Bonds, due 2032 182 179 200 5.125% Bonds, due 2035 242 240 268 5.125% Bonds, due 2035 182 180 201 2.750% Bonds, due 2049 182 178 200 3.250% Bonds, due 2052 423 419 — 2.250% Bonds, due 2059 363 355 398 1.875% Bonds, due 2062 363 356 398 Variable-rate loan, due 2025 (2) 163 164 — Variable-rate loan, due 2026 (3) 217 212 287 Total Northern Powergrid $ 3,085 $ 3,054 $ 3,287 (1) The par values for these debt instruments are denominated in sterling. (2) Amortizes quarterly and the loan is 70% floating and 30% fixed. The Company has entered into an interest rate swap that fixes the interest rate on 100% of the floating rate portion. The variable interest rate as of December 31, 2022, was 5.20% (including 2.00% margin) and the average fixed interest rate was 3.09% (including 2.00% margin). (3) Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 80% of the outstanding debt. The variable interest rate as of December 31, 2022 was 4.98% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.95%. BHE Pipeline Group's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total Eastern Energy Gas 3,918 3,892 3,906 Fair value adjustments — 368 430 Total Eastern Energy Gas, net of fair value adjustments 3,918 4,260 4,336 Northern Natural Gas: 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 652 651 3.40% Senior Bonds, due 2051 550 540 540 Total Northern Natural Gas 1,600 1,589 1,588 Total BHE Pipeline Group $ 5,518 $ 5,849 $ 5,924 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates at both December 31, 2022 and 2021 that averaged 3.32%. BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value (1) 2022 2021 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ — $ — $ 158 Total AltaLink Investments, L.P. — — 158 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 — — 218 Series 2013-4 Notes, 3.668%, due 2023 369 369 395 Series 2014-1 Notes, 3.399%, due 2024 258 258 277 Series 2016-1 Notes, 2.747%, due 2026 258 258 276 Series 2020-1 Notes, 1.509%, due 2030 166 165 177 Series 2022-1 Notes, 4.692%, due 2032 203 202 — Series 2006-1 Notes, 5.249%, due 2036 111 111 118 Series 2010-1 Notes, 5.381%, due 2040 92 92 99 Series 2010-2 Notes, 4.872%, due 2040 111 110 118 Series 2011-1 Notes, 4.462%, due 2041 203 202 217 Series 2012-1 Notes, 3.990%, due 2042 387 383 410 Series 2013-3 Notes, 4.922%, due 2043 258 258 276 Series 2014-3 Notes, 4.054%, due 2044 218 216 232 Series 2015-1 Notes, 4.090%, due 2045 258 257 275 Series 2016-2 Notes, 3.717%, due 2046 332 330 354 Series 2013-1 Notes, 4.446%, due 2053 184 184 197 Series 2014-2 Notes, 4.274%, due 2064 96 95 103 Total AltaLink, L.P. 3,504 3,490 3,742 Other: Construction Loan, 5.620%, due 2024 5 5 6 Total BHE Transmission $ 3,509 $ 3,495 $ 3,906 (1) The par values for these debt instruments are denominated in Canadian dollars. BHE Renewables' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 57 $ 56 $ 62 Solar Star Funding Senior Notes, 3.950%, due 2035 244 242 256 Solar Star Funding Senior Notes, 5.375%, due 2035 787 781 819 Grande Prairie Wind Senior Notes, 3.860%, due 2037 269 267 297 Topaz Solar Farms Senior Notes, 5.750%, due 2039 573 568 600 Topaz Solar Farms Senior Notes, 4.875%, due 2039 162 160 170 Alamo 6 Senior Notes, 4.170%, due 2042 190 188 197 Other — — 5 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 97 96 117 Marshall Wind Term Loan, due 2026 (2) 57 56 63 Flat Top Wind I Term Loan, due 2028 (2) 102 99 113 Mariah Del Norte Term Loan, due 2028 (2) 56 54 — Mariah Del Norte Term Loan, due 2032 (2) 142 138 — Pinyon Pines I and II Term Loans, due 2034 (2) 328 322 344 Total BHE Renewables $ 3,064 $ 3,027 $ 3,043 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or SOFR plus a margin that varies during the terms of the agreements. The Company has entered into interest rate swaps that fix the interest rate on 100% of the TX Jumbo Road, Marshall Wind and Pinyon Pines outstanding debt. The fixed interest rates as of December 31, 2022 and 2021 ranged from 3.23% to 3.88%. The variable interest rate on the Flat Top Wind I and Mariah Del Norte outstanding debt was 9.82% as of December 31, 2022. HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 Variable-rate: Variable-rate term loan (2022 - 5.242%, 2021 - 0.950%), due 2026 (1) $ 140 $ 140 $ 148 (1) Term loan amortizes quarterly and variable-rate resets monthly. MidAmerican Energy's long-term debt consists of the following, including amounts maturing within one year and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 250 3.50%, due 2024 500 500 501 3.10%, due 2027 375 374 373 3.65%, due 2029 850 859 860 4.80%, due 2043 350 347 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 446 3.95%, due 2047 475 471 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 875 874 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 492 Notes: 6.75% Series, due 2031 400 397 397 5.75% Series, due 2035 300 298 298 5.80% Series, due 2036 350 348 348 Transmission upgrade obligations, 3.20% to 7.81%, due 2036 to 2042 48 27 22 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2022-3.83%, 2021-0.13%): Due 2023, issued in 1993 7 7 7 Due 2023, issued in 2008 57 57 57 Due 2024 35 35 35 Due 2025 13 13 13 Due 2036 33 33 33 Due 2038 45 45 45 Due 2046 30 30 29 Due 2047 150 149 149 Total long-term debt $ 7,818 $ 7,729 $ 7,721 Reflected as: 2022 2021 Current portion of long-term debt $ 317 $ — Long-term debt 7,412 7,721 Total long-term debt $ 7,729 $ 7,721 |
Schedule of Maturities of Long-term Debt | The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2023 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total BHE senior notes $ 900 $ — $ 1,650 $ — $ — $ 11,551 $ 14,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 449 591 302 100 — 8,300 9,742 MidAmerican Funding 317 538 15 3 378 6,806 8,057 NV Energy 250 300 — 400 — 3,436 4,386 Northern Powergrid 56 57 435 75 302 2,160 3,085 BHE Pipeline Group 650 1,050 — 268 — 3,550 5,518 BHE Transmission 368 263 — 258 — 2,620 3,509 BHE Renewables 203 210 241 218 235 1,957 3,064 HomeServices 8 9 15 108 — — 140 Totals $ 3,201 $ 3,018 $ 2,658 $ 1,430 $ 915 $ 40,480 $ 51,702 |
PAC | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | PacifiCorp's long-term debt was as follows as of December 31 (dollars in millions): 2022 2021 Average Average Principal Carrying Interest Carrying Interest Amount Value Rate Value Rate First mortgage bonds: 2.95% to 8.23%, due through 2026 $ 1,224 $ 1,223 4.07 % $ 1,377 4.41 % 2.70% to 7.70%, due 2029 to 2031 1,100 1,095 4.35 1,094 4.35 5.25% to 6.25%, due 2034 to 2037 2,050 2,042 5.90 2,042 5.90 4.10% to 6.35%, due 2038 to 2042 1,250 1,239 5.63 1,238 5.63 2.90% to 5.35%, due 2049 to 2053 3,900 3,849 4.03 2,761 3.52 Variable-rate series, tax-exempt bond obligations (2022-3.75% to 4.10%; 2021-0.12% to 0.14%): Due 2025 25 25 4.10 25 0.12 Due 2024 to 2025 (1) 193 193 3.81 193 0.13 Total long-term debt $ 9,742 $ 9,666 $ 8,730 Reflected as: 2022 2021 Current portion of long-term debt $ 449 $ 155 Long-term debt 9,217 8,575 Total long-term debt $ 9,666 $ 8,730 (1) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations. |
Schedule of Maturities of Long-term Debt | As of December 31, 2022, the annual principal maturities of long-term debt for 2023 and thereafter are as follows (in millions): Long-term Debt 2023 $ 449 2024 591 2025 302 2026 100 2027 — Thereafter 8,300 Total 9,742 Unamortized discount and debt issuance costs (76) Total $ 9,666 |
MEC | |
Debt Instrument [Line Items] | |
Schedule of Maturities of Long-term Debt | The annual repayments of MidAmerican Energy's long-term debt for the years beginning January 1, 2023, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2023 $ 317 2024 538 2025 15 2026 3 2027 378 2028 and thereafter 6,567 |
NPC | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | Nevada Power's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 497 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 360 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 239 3.125% Series EE, due 2050 300 298 297 5.900% Series GG, due 2053 400 394 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.875% Pollution Control Bonds Series 2017A, due 2032 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017, due 2036 (1) 40 39 39 1.650% Pollution Control Bonds Series 2017B, due 2039 (1) 13 13 13 Variable-rate 4.821% Term Loan, due 2024 (2) 300 300 — Total long-term debt $ 3,234 $ 3,195 $ 2,499 Reflected as: Total long-term debt $ 3,195 $ 2,499 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Amounts borrowed under the facility bear interest at variable rates based on SOFR or a base rate, at Nevada Power's option, plus a pricing margin. |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2024 $ 300 2028 and thereafter 2,934 Total 3,234 Unamortized premium, discount and debt issuance cost (39) Total $ 3,195 |
SPPC | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | Sierra Pacific's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 General and refunding mortgage securities: 3.375% Series T, due 2023 $ 250 $ 249 $ 249 2.600% Series U, due 2026 400 397 397 6.750% Series P, due 2037 252 254 253 4.710% Series W, due 2052 250 248 — Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 — — 30 3.000% Gas and Water Series 2016B, due 2036 — — 60 0.625% Water Facilities Series 2016C, due 2036 — — 30 2.050% Water Facilities Series 2016D, due 2036 — — 25 2.050% Water Facilities Series 2016E, due 2036 — — 25 2.050% Water Facilities Series 2016F, due 2036 — — 75 1.850% Water Facilities Series 2016G, due 2036 — — 20 Total long-term debt $ 1,152 $ 1,148 $ 1,164 Reflected as: Current portion of long-term debt $ 250 $ — Long-term debt 898 1,164 Total long-term debt $ 1,148 $ 1,164 |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ 250 2026 400 2028 and thereafter 502 Total 1,152 Unamortized premium, discount and debt issuance cost (4) Total $ 1,148 |
EEGH | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | Eastern Energy Gas' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars and euros in millions): Par Value 2022 2021 Eastern Energy Gas: 2.875% Senior Notes, due 2023 $ 250 $ 250 $ 250 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 598 597 3.60% Senior Notes, due 2024 339 338 338 3.32% Senior Notes, due 2026 (€250) (1) 268 267 283 3.00% Senior Notes, due 2029 174 173 173 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 53 4.60% Senior Notes, due 2044 56 56 56 3.90% Senior Notes, due 2049 27 26 26 EGTS: 3.60% Senior Notes, due 2024 111 110 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total long-term debt $ 3,918 $ 3,892 $ 3,906 Reflected as: Current portion of long-term debt $ 649 $ — Long-term debt 3,243 3,906 Total long-term debt $ 3,892 $ 3,906 (1) The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates as of both December 31, 2022 and 2021 that averaged 3.32%. |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ 650 2024 1,050 2025 — 2026 268 2027 — 2028 and thereafter 1,950 Total 3,918 Unamortized premium, discount and debt issuance cost (26) Total $ 3,892 |
Schedule of Cash Flow Hedges Included in AOCI | The following table presents selected information related to losses on cash flow hedges included in AOCI in Eastern Energy Gas' Consolidated Balance Sheet as of December 31, 2022 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (37) $ (3) 264 months Foreign currency (6) (4) 42 months Total $ (43) $ (7) |
EGTS | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | EGTS' long-term debt consists of the following, including unamortized discounts and debt issuance costs, as of December 31 (dollars in millions): Par Value 2022 2021 3.60% Senior Notes, due 2024 $ 111 $ 110 $ 110 3.00% Senior Notes, due 2029 426 422 422 4.80% Senior Notes, due 2043 346 342 341 4.60% Senior Notes, due 2044 444 437 437 3.90% Senior Notes, due 2049 273 271 271 Total long-term debt $ 1,600 $ 1,582 $ 1,581 |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2023 and thereafter, are as follows (in millions): 2023 $ — 2024 111 2025 — 2026 — 2027 — 2028 and thereafter 1,489 Total 1,600 Unamortized discounts and debt issuance costs (18) Total $ 1,582 |
Schedule of Cash Flow Hedges Included in AOCI | The following table presents selected information related to losses on interest rate cash flow hedges included in AOCI in EGTS' Consolidated Balance Sheet as of December 31, 2022 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (30) $ (2) 264 months |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax (benefit) expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (1,463) $ (1,701) $ (1,537) State (65) (177) (121) Foreign 79 100 86 (1,449) (1,778) (1,572) Deferred: Federal (408) 1,037 1,438 State (49) (476) 424 Foreign (5) 89 21 (462) 650 1,883 Investment tax credits (5) (4) (3) Total $ (1,916) $ (1,132) $ 308 |
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) expense is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (124) (27) (16) Effects of ratemaking (16) (4) (3) State income tax, net of federal income tax benefit (6) (10) 3 Non-controlling interest (6) (2) — Income tax effect of foreign income (4) 1 — Equity loss (3) (1) — Other, net 2 1 (1) Effective income tax rate (136) % (21) % 4 % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 1,323 $ 1,349 Federal, state and foreign carryforwards 812 820 AROs 283 304 Other 741 686 Total deferred income tax assets 3,159 3,159 Valuation allowances (187) (164) Total deferred income tax assets, net 2,972 2,995 Deferred income tax liabilities: Property-related items (12,244) (11,814) Investments (1,998) (2,877) Regulatory assets (898) (764) Other (510) (478) Total deferred income tax liabilities (15,650) (15,933) Net deferred income tax liability $ (12,678) $ (12,938) |
Summary of Operating Loss Carryforwards | The following table provides, without regard to valuation allowances, the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2022 (in millions): Federal State Foreign Total Net operating loss carryforwards (1) $ 192 $ 9,653 $ 725 $ 10,570 Deferred income taxes on net operating loss carryforwards 41 562 166 769 Expiration dates 2023 - indefinite 2023 - indefinite 2028 - 2042 Tax credits $ 15 $ 28 $ — $ 43 Expiration dates 2023 - 2034 2023 - indefinite (1) The federal net operating loss carryforwards relate principally to net operating loss carryforwards of subsidiaries that are tax residents in both the U.S. and the United Kingdom. The federal net operating loss carryforwards were generated prior to Berkshire Hathaway Inc.'s ownership and began to expire in 2022. |
Net Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 97 $ 153 Additions based on tax positions related to the current year 15 24 Additions for tax positions of prior years — 13 Reductions based on tax positions related to the current year (12) (19) Reductions for tax positions of prior years (23) (83) Settlements — (1) Interest and penalties (9) 10 Ending balance $ 68 $ 97 |
PAC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax (benefit) expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (216) $ (150) $ 19 State (3) 7 30 Total (219) (143) 49 Deferred: Federal 90 26 (124) State 71 40 1 Total 161 66 (123) Investment tax credits (4) (2) (1) Total income tax (benefit) expense $ (62) $ (79) $ (75) |
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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income taxes, net of federal income tax benefit 3 3 3 Effects of ratemaking (12) (14) (22) Federal income tax credits (22) (20) (13) Valuation allowance 2 — — Other 1 — — Effective income tax rate (7) % (10) % (11) % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 724 $ 682 Employee benefits 59 68 State carryforwards 73 73 Loss contingencies 107 63 Asset retirement obligations 79 73 Other 80 88 Total deferred income tax assets 1,122 1,047 Valuation allowances (35) (15) Total deferred income tax assets, net 1,087 1,032 Deferred income tax liabilities: Property, plant and equipment (3,612) (3,468) Regulatory assets (462) (332) Other (165) (79) Total deferred income tax liabilities (4,239) (3,879) Net deferred income tax liability $ (3,152) $ (2,847) |
Summary of Operating Loss Carryforwards | The following table provides, without regard to valuation allowances, PacifiCorp's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2022 (in millions): State Net operating loss carryforwards $ 1,159 Deferred income taxes on net operating loss carryforwards $ 53 Expiration dates 2023 - indefinite Tax credit carryforwards $ 20 Expiration dates 2023 - indefinite |
MEC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | MidAmerican Energy's income tax benefit consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (769) $ (736) $ (684) State (34) (92) (94) (803) (828) (778) Deferred: Federal 77 189 201 State (43) (35) 8 34 154 209 Investment tax credits (1) (1) (1) Total $ (770) $ (675) $ (570) |
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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (372) (262) (199) State income tax, net of federal income tax benefit (32) (46) (27) Effects of ratemaking (23) (20) (17) Other, net 3 (1) (1) Effective income tax rate (403) % (308) % (223) % |
Components of Deferred Tax Assets and Liabilities | MidAmerican Energy's net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 194 $ 240 Asset retirement obligations 191 220 Revenue sharing 87 33 State carryforwards 61 55 Employee benefits 37 26 Other 24 (3) Total deferred income tax assets 594 571 Valuation allowances (2) (1) Total deferred income tax assets, net 592 570 Deferred income tax liabilities: Depreciable property (3,895) (3,843) Regulatory assets (128) (112) Other (2) (4) Total deferred income tax liabilities (4,025) (3,959) Net deferred income tax liability $ (3,433) $ (3,389) |
Net Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of MidAmerican Energy's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 13 $ 8 Additions based on tax positions related to the current year 15 16 Reductions based on tax positions related to the current year (12) (11) Ending balance $ 16 $ 13 |
MidAmerican Funding, LLC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | MidAmerican Funding's income tax benefit consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ (773) $ (739) $ (689) State (36) (94) (96) (809) (833) (785) Deferred: Federal 77 189 204 State (43) (35) 8 34 154 212 Investment tax credits (1) (1) (1) Total $ (776) $ (680) $ (574) |
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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (416) (283) (209) State income tax, net of federal income tax benefit (36) (50) (29) Effects of ratemaking (26) (21) (17) Other, net 3 (2) (1) Effective income tax rate (454) % (335) % (235) % |
Components of Deferred Tax Assets and Liabilities | MidAmerican Funding's net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 194 $ 240 Asset retirement obligations 192 220 Revenue sharing 87 33 State carryforwards 61 55 Employee benefits 37 26 Other 24 (3) Total deferred income tax assets 595 571 Valuation allowances (2) (1) Total deferred income tax assets, net 593 570 Deferred income tax liabilities: Depreciable property (3,895) (3,843) Regulatory assets (128) (112) Other (1) (2) Total deferred income tax liabilities (4,024) (3,957) Net deferred income tax liability $ (3,431) $ (3,387) |
Net Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of MidAmerican Funding's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 13 $ 8 Additions based on tax positions related to the current year 15 16 Reductions based on tax positions related to the current year (12) (11) Ending balance $ 16 $ 13 |
NPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current – Federal $ (13) $ 37 $ 57 Deferred – Federal 49 — (10) Total income tax expense $ 36 $ 37 $ 47 |
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 for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (11) (11) (8) Other 1 1 1 Effective income tax rate 11 % 11 % 14 % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 186 $ 195 Operating and finance leases 68 73 Customer advances 27 25 Unamortized contract value 20 25 Other 9 8 Total deferred income tax assets 310 326 Deferred income tax liabilities: Property related items (821) (800) Regulatory assets (273) (204) Operating and finance leases (65) (70) Other (26) (34) Total deferred income tax liabilities (1,185) (1,108) Net deferred income tax liability $ (875) $ (782) |
SPPC | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax expense consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current – Federal $ (12) $ 5 $ 3 Deferred – Federal 31 13 12 Total income tax expense $ 19 $ 18 $ 15 |
Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (7) (8) (9) Effective income tax rate 14 % 13 % 12 % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Regulatory liabilities $ 63 $ 64 Operating and finance leases 26 27 Customer advances 17 14 Unamortized contract value 6 8 Other 6 6 Total deferred income tax assets 118 119 Deferred income tax liabilities: Property related items (387) (379) Regulatory assets (135) (94) Operating and finance leases (25) (27) Other (16) (21) Total deferred income tax liabilities (563) (521) Net deferred income tax liability $ (445) $ (402) |
EEGH | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ 12 $ (47) $ (20) State 29 (21) 1 41 (68) (19) Deferred: Federal 88 129 23 State 38 56 (28) 126 185 (5) Total $ 167 $ 117 $ (24) |
Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income before income tax expense (benefit) is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 6 3 (13) Equity interest 2 1 4 Effects of ratemaking (1) 1 (2) Change in tax status — — (9) AFUDC-equity — — (1) Noncontrolling interest (10) (11) (16) Write-off of regulatory assets — — 3 Other, net — 1 1 Effective income tax rate 18 % 16 % (12) % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax liability consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Federal and state carryforwards $ 23 $ 7 Employee benefits 22 33 Intangibles 112 150 Derivatives and hedges 16 16 Other 7 9 Total deferred income tax assets 180 215 Deferred income tax liabilities: Property related items (214) (129) Partnership investments (51) (49) Debt exchange (53) (60) Deferred state income taxes (4) (16) Other (12) (16) Total deferred income tax liabilities (334) (270) Net deferred income tax liability (1) $ (154) $ (55) |
EGTS | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |
Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): 2022 2021 2020 Current: Federal $ 5 $ (22) $ 48 State 12 (10) 6 17 (32) 54 Deferred: Federal 64 67 (93) State 28 26 (28) 92 93 (121) Total $ 109 $ 61 $ (67) |
Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the effective income tax rate applicable to income (loss) before income tax expense (benefit) is as follows for the years ended December 31: 2022 2021 2020 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 9 8 7 Effects of ratemaking — — 2 AFUDC-equity — — 1 Write-off of regulatory assets — — (3) Other, net (1) (1) (1) Effective income tax rate 29 % 28 % 27 % |
Components of Deferred Tax Assets and Liabilities | The net deferred income tax asset consists of the following as of December 31 (in millions): 2022 2021 Deferred income tax assets: Federal and state carryforwards $ 6 $ — Employee benefits 22 31 Intangibles and goodwill 265 298 Derivatives and hedges 11 12 Other 4 4 Total deferred income tax assets 308 345 Deferred income tax liabilities: Property related items (146) (77) Debt exchange (53) (60) Employee benefits (4) (9) Total deferred income tax liabilities (203) (146) Net deferred income tax asset (1) $ 105 $ 199 (1) Net deferred income tax asset, as of both December 31, 2022 and 2021, is presented in other assets in the Consolidated Balance Sheet. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the plans included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ 22 $ 30 $ 17 $ 11 $ 12 $ 7 Interest cost 83 78 93 20 19 21 Expected return on plan assets (108) (134) (140) (29) (22) (34) Curtailment (10) — — — — — Settlement 17 3 — — — — Net amortization 19 25 32 (1) (3) (4) Net periodic benefit cost (credit) $ 23 $ 2 $ 2 $ 1 $ 6 $ (10) Net periodic benefit (credit) cost for the UK Plan included the following components for the years ended December 31 (in millions): 2022 2021 2020 Service cost $ 14 $ 16 $ 16 Interest cost 35 31 40 Expected return on plan assets (92) (111) (101) Settlement — 10 17 Net amortization 24 55 43 Net periodic benefit (credit) cost $ (19) $ 1 $ 15 |
Changes in Fair Value of Plan Assets | The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 2,795 $ 2,824 $ 769 $ 744 Employer contributions 14 13 8 14 Participant contributions — — 8 9 Actual return on plan assets (491) 234 (122) 53 Settlement (164) (134) — — Benefits paid (141) (142) (49) (51) Plan assets at fair value, end of year $ 2,013 $ 2,795 $ 614 $ 769 The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): 2022 2021 Plan assets at fair value, beginning of year $ 2,363 $ 2,334 Employer contributions 15 28 Participant contributions 1 1 Actual return on plan assets (671) 148 Settlement — (51) Benefits paid (109) (72) Foreign currency exchange rate changes (236) (25) Plan assets at fair value, end of year $ 1,363 $ 2,363 |
Changes in Projected Benefit Obligations | The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 2,777 $ 3,077 $ 714 $ 758 Service cost 22 30 11 12 Interest cost 83 78 20 19 Participant contributions — — 8 9 Actuarial (gain) loss (524) (132) (155) (35) Amendment (3) — 20 2 Curtailment (10) — — — Settlement (164) (134) — — Benefits paid (141) (142) (49) (51) Benefit obligation, end of year $ 2,040 $ 2,777 $ 569 $ 714 Accumulated benefit obligation, end of year $ 2,003 $ 2,713 The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): 2022 2021 Benefit obligation, beginning of year $ 2,003 $ 2,205 Service cost 14 16 Interest cost 35 31 Participant contributions 1 1 Actuarial gain (596) (105) Settlement — (51) Amendment 27 — Benefits paid (109) (72) Foreign currency exchange rate changes (200) (22) Benefit obligation, end of year $ 1,175 $ 2,003 Accumulated benefit obligation, end of year $ 1,060 $ 1,778 |
Schedule of Net Funded Status | The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 2,013 $ 2,795 $ 614 $ 769 Benefit obligation, end of year 2,040 2,777 569 714 Funded status $ (27) $ 18 $ 45 $ 55 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 125 $ 204 $ 52 $ 60 Other current liabilities (13) (13) — — Other long-term liabilities (139) (173) (7) (5) Amounts recognized $ (27) $ 18 $ 45 $ 55 |
Benefit Obligations in Excess of Fair Value of Plan Assets | The fair value of plan assets, projected benefit obligation and accumulated benefit obligation for (1) pension and other postretirement benefit plans with a projected benefit obligation in excess of the fair value of plan assets and (2) pension plans with an accumulated benefit obligation in excess of the fair value of plan assets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Fair value of plan assets $ 490 $ — $ 240 $ 137 Projected benefit obligation $ 643 $ 186 $ 247 $ 142 Fair value of plan assets $ — $ — Accumulated benefit obligation $ 142 $ 185 The funded status of the UK Plan and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): 2022 2021 Plan assets at fair value, end of year $ 1,363 $ 2,363 Benefit obligation, end of year 1,175 2,003 Funded status $ 188 $ 360 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 188 $ 360 |
Net Periodic Benefit Costs Not Yet Recognized | The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ 365 $ 343 $ (38) $ (34) Prior service (credit) cost (4) (1) 21 (1) Regulatory deferrals 29 11 1 2 Total $ 390 $ 353 $ (16) $ (33) A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Pension Balance, December 31, 2020 $ 600 $ (20) $ 33 $ 613 Net gain arising during the year (177) (44) (10) (231) Settlement (9) 5 — (4) Net amortization (24) — (1) (25) Total (210) (39) (11) (260) Balance, December 31, 2021 390 (59) 22 353 Net loss (gain) arising during the year 58 38 (20) 76 Net prior service credit arising during the year — (3) — (3) Settlement (13) (4) — (17) Net amortization (17) — (2) (19) Total 28 31 (22) 37 Balance, December 31, 2022 $ 418 $ (28) $ — $ 390 Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Other Postretirement Balance, December 31, 2020 $ 47 $ (23) $ 4 $ 28 Net gain arising during the year (40) (22) (3) (65) Net prior service cost arising during the year 1 — — 1 Net amortization 3 — — 3 Total (36) (22) (3) (61) Balance, December 31, 2021 11 (45) 1 (33) Net loss (gain) arising during the year 20 (20) (4) (4) Net prior service cost arising during the year 11 8 1 20 Net amortization 3 (2) — 1 Total 34 (14) (3) 17 Balance, December 31, 2022 $ 45 $ (59) $ (2) $ (16) The portion of the funded status of the UK Plan not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): 2022 2021 Net loss $ 499 $ 400 Prior service cost 30 5 Total $ 529 $ 405 A reconciliation of the amounts not yet recognized as components of net periodic benefit cost, which are included in accumulated other comprehensive loss on the Consolidated Balance Sheets, for the years ended December 31 is as follows (in millions): 2022 2021 Balance, beginning of year $ 405 $ 618 Net loss (gain) arising during the year 167 (143) Net prior service cost arising during the year 27 — Settlement — (10) Net amortization (24) (55) Foreign currency exchange rate changes (46) (5) Total 124 (213) Balance, end of year $ 529 $ 405 |
Plan Assumptions | Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.65 % 2.98 % 2.60 % 4.54 % 2.95 % 2.59 % Rate of compensation increase 3.00 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2020 N/A N/A 2.44 % N/A N/A N/A 2021 N/A 2.45 % 2.25 % N/A N/A N/A 2022 3.25 % 2.56 % 2.25 % N/A N/A N/A 2023 4.25 % 2.56 % 2.65 % N/A N/A N/A 2024 4.25 % 2.83 % 2.65 % N/A N/A N/A 2025 and beyond 3.65 % 2.83 % 2.65 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.98 % 2.60 % 3.32 % 2.95 % 2.59 % 3.24 % Expected return on plan assets 4.30 % 5.39 % 5.94 % 4.20 % 3.35 % 5.42 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rate for cash balance plan 3.25 % 2.45 % 2.44 % N/A N/A N/A In establishing its assumption as to the expected return on plan assets, the Company utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. 2022 2021 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.50 % 6.00 % Rate that the cost trend rate gradually declines to 5.00 % 5.00 % Year that the rate reaches the rate it is assumed to remain at 2028 2025 Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: 2022 2021 2020 Benefit obligations as of December 31: Discount rate 4.80 % 1.95 % 1.40 % Rate of compensation increase 3.20 % 3.45 % 3.05 % Rate of future price inflation 2.95 % 2.95 % 2.55 % Net periodic benefit cost for the years ended December 31: Discount rate 1.95 % 1.40 % 2.10 % Expected return on plan assets 4.40 % 4.85 % 5.00 % Rate of compensation increase 3.45 % 3.05 % 3.30 % Rate of future price inflation 2.95 % 2.55 % 2.80 % |
Expected Benefit Payments | The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Other Pension Postretirement 2023 $ 192 $ 53 2024 184 53 2025 180 53 2026 177 52 2027 172 52 2028-2032 782 235 Employer contributions to the UK Plan are expected to be £11 million during 2023. The expected benefit payments to participants in the UK Plan for 2023 through 2027 and for the five years thereafter, excluding lump sum settlement elections and using the foreign currency exchange rate as of December 31, 2022, are summarized below (in millions): 2023 $ 67 2024 69 2025 70 2026 72 2027 74 2028-2032 398 |
Allocation of Plan Assets | The target allocations (percentage of plan assets) for the Company's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Other Pension Postretirement % % PacifiCorp: Debt securities (1) 73 77 Equity securities (1) 22 23 Limited partnership interests 5 0 MidAmerican Energy: Debt securities (1) 40-70 20-40 Equity securities (1) 35-60 60-80 Other 0-15 0-5 NV Energy: Debt securities (1) 65-80 68-89 Equity securities (1) 20-35 11-32 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. The target allocations (percentage of plan assets) for the UK Plan assets are as follows as of December 31, 2022: % Debt securities (1) 60-70 Equity securities (1) 10-20 Real estate funds and other 15-25 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds have been allocated based on the underlying investments in debt and equity securities. |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ — $ 51 $ 51 Debt securities: U.S. government obligations 109 — 109 Corporate obligations — 613 613 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 81 81 Equity securities: U.S. companies 198 — 198 International companies 1 — 1 Total assets in the fair value hierarchy $ 308 $ 788 1,096 Investment funds (2) measured at net asset value 885 Limited partnership interests (3) measured at net asset value 32 Total assets measured at fair value $ 2,013 As of December 31, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: U.S. government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: U.S. companies 135 — 135 Total assets in the fair value hierarchy $ 277 $ 1,135 1,412 Investment funds (2) measured at net asset value 1,349 Limited partnership interests (3) measured at net asset value 34 Total assets measured at fair value $ 2,795 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 53% and 47%, respectively, for 2022 and 54% and 46%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 95% and 5%, respectively, for 2022 and 89% and 11%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ 15 $ 9 $ 24 Debt securities: U.S. government obligations 8 — 8 Corporate obligations — 52 52 Municipal obligations — 35 35 Agency, asset and mortgage-backed obligations — 49 49 Equity securities: U.S. companies 7 — 7 Investment funds (2) 307 — 307 Total assets in the fair value hierarchy $ 337 $ 145 482 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Total assets measured at fair value $ 614 As of December 31, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: U.S. government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: U.S. companies 4 — 4 Investment funds (2) 394 — 394 Total assets in the fair value hierarchy $ 437 $ 170 607 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Total assets measured at fair value $ 769 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 55% and 45%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 88% and 12%, respectively, for 2022 and 88% and 12%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. The following table presents the fair value of the UK Plan assets, by major category (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 1 $ 29 $ — $ 30 Debt securities: United Kingdom government obligations 711 — — 711 Equity securities: Investment funds (2) — 312 — 312 Real estate funds — — 214 214 Total $ 712 $ 341 $ 214 1,267 Investment funds (2) measured at net asset value 96 Total assets measured at fair value $ 1,363 As of December 31, 2021: Cash equivalents $ 5 $ 27 $ — $ 32 Debt securities: United Kingdom government obligations 1,308 — — 1,308 Equity securities: Investment funds (2) — 646 — 646 Real estate funds — — 269 269 Total $ 1,313 $ 673 $ 269 2,255 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,363 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 25% and 75%, respectively, for 2022 and 23% and 77%, respectively, for 2021. 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 December 31, 2022: Assets: Commodity derivatives $ 6 $ 614 $ 51 $ (194) $ 477 Interest rate derivatives 50 54 8 — 112 Mortgage loans held for sale — 474 — — 474 Money market mutual funds 1,178 — — — 1,178 Debt securities: U.S. government obligations 2,146 — — — 2,146 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 3,771 — — — 3,771 Investment funds 231 — — — 231 $ 7,742 $ 1,217 $ 59 $ (194) $ 8,824 Liabilities: Commodity derivatives $ (8) $ (206) $ (110) $ 106 $ (218) Foreign currency exchange rate derivatives — (21) — — (21) Interest rate derivatives — (2) (2) 1 (3) $ (8) $ (229) $ (112) $ 107 $ (242) 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 December 31, 2022 and 2021, respectively. |
Level Three Defined Benefit Plan Assets Roll Forward | The following table reconciles the beginning and ending balances of the UK Plan assets measured at fair value using significant Level 3 inputs for the years ended December 31 (in millions): Real Estate Funds 2022 2021 2020 Beginning balance $ 269 $ 237 $ 243 Actual return on plan assets still held at period end (27) 35 (13) Foreign currency exchange rate changes (28) (3) 7 Ending balance $ 214 $ 269 $ 237 |
PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the plans included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ — $ — $ — $ 2 $ 2 $ 2 Interest cost 29 29 36 8 7 9 Expected return on plan assets (42) (51) (56) (11) (9) (14) Settlement (1) 6 6 — — — — Net amortization 16 21 18 1 1 3 Net periodic benefit cost (credit) $ 9 $ 5 $ (2) $ — $ 1 $ — |
Changes in Fair Value of Plan Assets | The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 1,058 $ 1,064 $ 324 $ 327 Employer contributions (1) 4 5 — 1 Participant contributions — — 5 6 Actual (loss) return on plan assets (172) 109 (42) 14 Settlement (2) (67) (52) — — Benefits paid (65) (68) (23) (24) Plan assets at fair value, end of year $ 758 $ 1,058 $ 264 $ 324 (1) Pension amounts represent employer contributions to the SERP. (2) Benefits paid in the form of lump sum distributions that gave rise to the settlement accounting described above. |
Changes in Projected Benefit Obligations | The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 1,048 $ 1,202 $ 288 $ 307 Service cost — — 2 2 Interest cost 29 29 8 7 Participant contributions — — 5 6 Actuarial gain (199) (63) (61) (10) Settlement (1) (67) (52) — — Benefits paid (65) (68) (23) (24) Benefit obligation, end of year $ 746 $ 1,048 $ 219 $ 288 Accumulated benefit obligation, end of year $ 746 $ 1,048 (1) Benefits paid in the form of lump sum distributions that gave rise to the settlement accounting described above. |
Benefit Obligations in Excess of Fair Value of Plan Assets | The funded status of the plans and the amounts recognized on the Consolidated Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 758 $ 1,058 $ 264 $ 324 Less - Benefit obligation, end of year 746 1,048 219 288 Funded status $ 12 $ 10 $ 45 $ 36 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 53 $ 63 $ 45 $ 36 Accrued employee expenses (4) (4) — — Other long-term liabilities (37) (49) — — Amounts recognized $ 12 $ 10 $ 45 $ 36 |
Net Periodic Benefit Costs Not Yet Recognized | The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ 273 $ 298 $ (36) $ (28) Regulatory deferrals (1) 29 11 1 2 Total $ 302 $ 309 $ (35) $ (26) (1) Pension amounts represent the unamortized portion of deferred settlement losses. A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Accumulated Other Regulatory Comprehensive Asset Loss Total Pension Balance, December 31, 2020 $ 432 $ 25 $ 457 Net gain arising during the year (120) (1) (121) Net amortization (20) (1) (21) Settlement (6) — (6) Total (146) (2) (148) Balance, December 31, 2021 286 23 309 Net loss (gain) arising during the year 24 (9) 15 Net amortization (14) (2) (16) Settlement (6) — (6) Total 4 (11) (7) Balance, December 31, 2022 $ 290 $ 12 $ 302 Regulatory Liability Other Postretirement Balance, December 31, 2020 $ (10) Net gain arising during the year (15) Net amortization (1) Total (16) Balance, December 31, 2021 (26) Net gain arising during the year (8) Net amortization (1) Total (9) Balance, December 31, 2022 $ (35) |
Plan Assumptions | Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.55 % 2.90 % 2.50 % 5.50 % 2.90 % 2.50 % Rate of compensation increase N/A N/A N/A N/A N/A N/A Interest crediting rates for cash balance plan - non-union 2020 N/A N/A 2.27 % N/A N/A N/A 2021 N/A 0.82 % 0.82 % N/A N/A N/A 2022 0.88 % 0.88 % 0.82 % N/A N/A N/A 2023 4.73 % 0.88 % 2.00 % N/A N/A N/A 2024 4.73 % 1.90 % 2.00 % N/A N/A N/A 2025 and beyond 2.60 % 1.90 % 2.00 % N/A N/A N/A Interest crediting rates for cash balance plan - union 2020 N/A N/A 2.16 % N/A N/A N/A 2021 N/A 1.42 % 1.42 % N/A N/A N/A 2022 1.94 % 1.94 % 1.42 % N/A N/A N/A 2023 3.55 % 1.94 % 2.40 % N/A N/A N/A 2024 3.55 % 2.30 % 2.40 % N/A N/A N/A 2025 and beyond 2.40 % 2.30 % 2.40 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.90 % 2.50 % 3.25 % 2.90 % 2.50 % 3.20 % Expected return on plan assets 4.70 6.00 6.50 3.44 2.90 4.92 |
Expected Benefit Payments | The expected benefit payments to participants in PacifiCorp's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2023 $ 76 $ 23 2024 73 22 2025 70 21 2026 67 20 2027 64 20 2028-2032 277 87 |
Allocation of Plan Assets | The target allocations (percentage of plan assets) for PacifiCorp's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Pension (1) Other Postretirement (1) % % Debt securities (2) 73 77 Equity securities (2) 22 23 Other 5 0 (1) The trust in which the PacifiCorp Retirement Plan is invested includes a separate account that is used to fund benefits for the other postretirement benefit plan. In addition to this separate account, the assets for the other postretirement benefit plan are held in Voluntary Employees' Beneficiary Association ("VEBA") trusts, each of which has its own investment allocation strategies. Target allocations for the other postretirement benefit plan include the separate account of the Retirement Plan trust and the VEBA trusts. (2) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash equivalents $ — $ 10 $ — $ 10 Debt securities: U.S. government obligations 41 — — 41 Corporate obligations — 211 — 211 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 34 — 34 Equity securities: U.S. companies 69 — — 69 Total assets in the fair value hierarchy $ 110 $ 270 $ — $ 380 Investment funds (2) measured at net asset value 346 Limited partnership interests (3) measured at net asset value 32 Investments at fair value $ 758 As of December 31, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: U.S. companies 61 — — 61 Total assets in the fair value hierarchy $ 112 $ 374 $ — $ 486 Investment funds (2) measured at net asset value 538 Limited partnership interests (3) measured at net asset value 34 Investments at fair value $ 1,058 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 50% and 50%, respectively, for 2022 and 59% and 41%, respectively, for 2021, and are invested in U.S. and international securities of approximately 90% and 10%, respectively, for 2022 and 84% and 16%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate. The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash and cash equivalents $ 5 $ 5 $ — $ 10 Debt securities: U.S. government obligations 6 — — 6 Corporate obligations — 49 — 49 Municipal obligations — 13 — 13 Agency, asset and mortgage-backed obligations — 47 — 47 Equity securities: U.S. companies 7 — — 7 Total assets in the fair value hierarchy $ 18 $ 114 $ — 132 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Investments at fair value $ 264 As of December 31, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: U.S. government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: U.S. companies 4 — — 4 Total assets in the fair value hierarchy $ 32 $ 130 $ — 162 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Investments at fair value $ 324 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 41% and 59%, respectively, for 2022 and 39% and 61%, respectively, for 2021, and are invested in U.S. and international securities of approximately 91% and 9%, respectively, for 2022 and 90% and 10%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. 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 December 31, 2022: Assets: Commodity derivatives $ — $ 318 $ — $ (119) $ 199 Money market mutual funds 649 — — — 649 Investment funds 23 — — — 23 $ 672 $ 318 $ — $ (119) $ 871 Liabilities - Commodity derivatives $ — $ (48) $ — $ 41 $ (7) 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 $78 million and a net cash collateral receivable of $5 million as of December 31, 2022 and 2021, respectively. As December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. |
Schedule of Multiemployer Plans | The following table presents PacifiCorp's participation in individually significant joint trustee and multiemployer pension plans for the years ended December 31 (dollars in millions): PPA of 2006 zone status or Contributions Plan name Employer Identification Number 2022 2021 2020 Funding improvement plan Surcharge imposed under PPA of 2006 2022 2021 2020 Year contributions to plan exceeded more than 5% of total contributions Local 57 Trust Fund 87-0640888 At least 80% At least 80% At least 80% None None $ 6 $ 6 $ 6 2022, 2021, 2020 |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost (credit) for the plans of MidAmerican Energy and the aforementioned affiliates included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Service cost $ 15 $ 20 $ 8 $ 8 $ 9 $ 4 Interest cost 23 22 25 8 8 7 Expected return on plan assets (27) (37) (40) (14) (10) (14) Curtailment (10) — — — — — Settlement 4 (5) — — — — Net amortization 1 1 1 (2) (4) (5) Net periodic benefit cost (credit) $ 6 $ 1 $ (6) $ — $ 3 $ (8) |
Changes in Fair Value of Plan Assets | The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, beginning of year $ 704 $ 718 $ 308 $ 278 Employer contributions 7 8 3 10 Participant contributions — — 1 1 Actual return on plan assets (130) 58 (58) 34 Settlement (57) (46) — — Benefits paid (34) (34) (14) (15) Plan assets at fair value, end of year $ 490 $ 704 $ 240 $ 308 |
Changes in Projected Benefit Obligations | The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2022 2021 2022 2021 Benefit obligation, beginning of year $ 781 $ 845 $ 285 $ 304 Service cost 15 20 8 9 Interest cost 23 22 8 8 Participant contributions — — 1 1 Actuarial (gain) loss (129) (25) (64) (18) Amendment (3) — 19 1 Curtailment (10) — — — Settlement (57) (46) — — Acquisition — (1) — (5) Benefits paid (34) (34) (14) (15) Benefit obligation, end of year $ 586 $ 781 $ 243 $ 285 Accumulated benefit obligation, end of year $ 551 $ 721 |
Benefit Obligations in Excess of Fair Value of Plan Assets | The funded status of the plans and the amounts recognized on the Balance Sheets as of December 31 are as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Plan assets at fair value, end of year $ 490 $ 704 $ 240 $ 308 Less - Benefit obligation, end of year 586 781 243 285 Funded status $ (96) $ (77) $ (3) $ 23 Amounts recognized on the Balance Sheets: Other assets $ — $ 34 $ — $ 23 Other current liabilities (8) (7) — — Other long-term liabilities (88) (104) (3) — Amounts recognized $ (96) $ (77) $ (3) $ 23 |
Net Periodic Benefit Costs Not Yet Recognized | The portion of the funded status of the plans not yet recognized in net periodic benefit cost as of December 31 is as follows (in millions): Pension Other Postretirement 2022 2021 2022 2021 Net loss (gain) $ (4) $ (25) $ 11 $ 2 Prior service cost (credit) (3) — 19 (3) Total $ (7) $ (25) $ 30 $ (1) A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2022 and 2021 is as follows (in millions): Regulatory Asset Regulatory Liability Receivables (Payables) with Affiliates Total Pension Balance, December 31, 2020 $ 21 $ (20) $ 17 $ 18 Net loss (gain) arising during the year 2 (40) (9) (47) Settlement — 5 — 5 Net amortization (1) — — (1) Total 1 (35) (9) (43) Balance, December 31, 2021 22 (55) 8 (25) Net loss (gain) arising during the year (7) 58 (25) 26 Net prior service cost (credit) arising during the year — — (3) (3) Settlement — (4) — (4) Net amortization (1) — — (1) Total (8) 54 (28) 18 Balance, December 31, 2022 $ 14 $ (1) $ (20) $ (7) Regulatory Receivables (Payables) with Affiliates Total Other Postretirement Balance, December 31, 2020 $ 45 $ (9) $ 36 Net loss (gain) arising during the year (29) (13) (42) Net prior service cost (credit) arising during the year 1 — 1 Net amortization 3 1 4 Total (25) (12) (37) Balance, December 31, 2021 20 (21) (1) Net loss (gain) arising during the year 10 (1) 9 Net prior service cost (credit) arising during the year — 19 19 Net amortization 3 — 3 Total 13 18 31 Balance, December 31, 2022 $ 33 $ (3) $ 30 |
Plan Assumptions | Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2022 2021 2020 2022 2021 2020 Benefit obligations as of December 31: Discount rate 5.70 % 3.05 % 2.75 % 5.60 % 2.95 % 2.65 % Rate of compensation increase 3.00 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2020 N/A N/A 2.27 % N/A N/A N/A 2021 N/A 1.19 % 0.99 % N/A N/A N/A 2022 3.74 % 1.19 % 0.99 % N/A N/A N/A 2023 3.74 % 1.19 % 0.99 % N/A N/A N/A 2024 3.74 % 1.19 % 0.99 % N/A N/A N/A 2025 and beyond 3.74 % 1.19 % 0.99 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 3.05 % 2.75 % 3.40 % 2.95 % 2.65 % 3.20 % Expected return on plan assets (1) 4.30 % 5.60 % 6.25 % 5.30 % 4.00 % 6.00 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 3.74 % 1.19 % 2.27 % N/A N/A N/A (1) Amounts reflected are pretax values. Assumed after-tax returns for a taxable, non-union other postretirement plan were 4.21% for 2022, 2.39% for 2021 and 4.62% for 2020. In establishing its assumption as to the expected return on plan assets, MidAmerican Energy utilizes the asset allocation and return assumptions for each asset class based on historical performance and forward-looking views of the financial markets. 2022 2021 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.50 % 5.90 % Rate that the cost trend rate gradually declines to 5.00 % 5.00 % Year that the rate reaches the rate it is assumed to remain at 2028 2025 |
Expected Benefit Payments | Net periodic benefit costs assigned to MidAmerican Energy affiliates are reimbursed currently in accordance with its intercompany administrative services agreement. The expected benefit payments to participants in MidAmerican Energy's pension and other postretirement benefit plans for 2023 through 2027 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2023 $ 59 $ 21 2024 54 22 2025 53 23 2026 53 23 2027 51 23 2028-2032 231 105 |
Allocation of Plan Assets | The target allocations (percentage of plan assets) for MidAmerican Energy's pension and other postretirement benefit plan assets are as follows as of December 31, 2022: Pension Other Postretirement % % Debt securities (1) 40-70 20-40 Equity securities (1) 35-60 60-80 Other 0-15 0-5 (1) For purposes of target allocation percentages and consistent with the plans' investment policy, investment funds are allocated based on the underlying investments in debt and equity securities. |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 22 — — 22 Corporate obligations — 135 — 135 Municipal obligations — 10 — 10 Agency, asset and mortgage-backed obligations — 13 — 13 Equity securities: U.S. companies 71 — — 71 International companies 1 — — 1 Total assets in the fair value hierarchy $ 94 $ 173 $ — 267 Investment funds (2) measured at net asset value 223 Total assets measured at fair value $ 490 As of December 31, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: U.S. government obligations 33 — — 33 Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: U.S. companies 35 — — 35 Total assets in the fair value hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 56% and 44%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 97% and 3%, respectively, for 2022 and 90% and 10%, respectively, for 2021. The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 10 $ — $ — $ 10 Debt securities: U.S. government obligations 2 — — 2 Corporate obligations — 3 — 3 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 2 — 2 Equity securities: Investment funds (2) 201 — — 201 Total assets measured at fair value $ 213 $ 27 $ — $ 240 As of December 31, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: U.S. government obligations 3 — — 3 Corporate obligations — 6 — 6 Municipal obligations — 28 — 28 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 260 — — 260 Total assets measured at fair value $ 271 $ 37 $ — $ 308 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 82% and 18%, respectively, for 2022 and 2021. Additionally, these funds are invested in U.S. and international securities of approximately 82% and 18%, respectively, for 2022 and for 2021. 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 December 31, 2022: Assets: Commodity derivatives $ 1 $ 37 $ 6 $ (10) $ 34 Money market mutual funds 225 — — — 225 Debt securities: U.S. government obligations 215 — — — 215 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 8 — — — 8 Investment funds 16 — — — 16 $ 825 $ 112 $ 6 $ (10) $ 933 Liabilities - commodity derivatives $ — $ (12) $ (1) $ 10 $ (3) 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 receivable of $— million and $5 million as of December 31, 2022 and 2021, respectively. |
MidAmerican Funding, LLC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Pension and postretirement costs allocated by MidAmerican Funding to its parent and other affiliates in each of the years ended December 31, were as follows (in millions): 2022 2021 2020 Pension costs $ 8 $ 21 $ 7 Other postretirement costs 1 2 (3) |
NPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Nevada Power's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 23 $ 23 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 23 $ 60 Liabilities - commodity derivatives $ — $ — $ (75) $ (75) 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) |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following as of December 31 (in millions): 2022 2021 Qualified Pension Plan - Other non-current assets $ 27 $ 42 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (6) (8) Other Postretirement Plans - Other non-current assets 7 8 |
SPPC | |
Defined Benefit Plan Disclosure [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents Sierra Pacific's financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of December 31, 2022: Assets: Commodity derivatives $ — $ — $ 8 $ 8 Money market mutual funds 49 — — 49 Investment funds 1 — — 1 $ 50 $ — $ 8 $ 58 Liabilities - commodity derivatives $ — $ — $ (21) $ (21) 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) |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following as of December 31 (in millions): 2022 2021 Qualified Pension Plan - Other non-current assets $ 43 $ 62 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (5) (7) Other Postretirement Plans - Other long-term liabilities (2) (10) |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit credit for the plans included the following components for the year ended December 31, 2020 (in millions): Pension Other Postretirement Service cost $ 5 $ 1 Interest cost 8 4 Expected return on plan assets (47) (16) Net amortization 5 (3) Net periodic benefit credit $ (29) $ (14) |
Plan Assumptions | Significant assumptions used to determine periodic credits for the year ended December 31, 2020: Pension Other Postretirement Discount rate 3.16% - 3.63% 3.44 % Expected long-term rate of return on plan assets 8.60 % 8.50 % Weighted average rate of increase for compensation 4.73 % N/A Healthcare cost trend rate 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % Year that the rate reached the ultimate trend rate 2026 |
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 December 31, 2022 Assets: Commodity derivative $ — $ 1 $ — $ 1 Money market mutual funds 42 — — 42 Equity securities: Investment funds 14 — — 14 $ 56 $ 1 $ — $ 57 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) 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) |
EGTS | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net Periodic Benefit Credit Net periodic benefit credit for the plans included the following components for the year ended December 31, 2020 (in millions): Pension Other Postretirement Service cost $ 5 $ 1 Interest cost 8 4 Expected return on plan assets (47) (16) Net amortization 3 (3) Net periodic benefit credit $ (31) $ (14) |
Plan Assumptions | Significant assumptions used to determine periodic credits for the year ended December 31, 2020: Pension Other Postretirement Discount rate 3.16% - 3.63% 3.44 % Expected long-term rate of return on plan assets 8.60 % 8.50 % Weighted average rate of increase for compensation 4.73 % N/A Healthcare cost trend rate 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % Year that the rate reached the ultimate trend rate 2026 |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents EGTS' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of December 31, 2022 Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 8 — — 8 Equity securities: Investment funds 14 — — 14 $ 22 $ 1 $ — $ 23 As of December 31, 2021 Assets: Equity securities: Investment funds $ 13 $ — $ — $ 13 $ 13 $ — $ — $ 13 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Asset Retirement Obligations Disclosure [Line Items] | |
Summary of Asset Retirement Obligations By Type | The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Quad Cities Station $ 417 $ 427 Fossil-fueled generating facilities 396 466 Wind-powered generating facilities 353 299 Solar-powered generating facilities 30 25 Offshore pipeline facilities 14 14 Other 118 109 Total asset retirement obligations $ 1,328 $ 1,340 Quad Cities Station nuclear decommissioning trust funds $ 664 $ 768 |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 1,340 $ 1,341 Change in estimated costs 2 81 Acquisitions 29 — Additions 32 15 Retirements (122) (144) Accretion 47 47 Ending balance $ 1,328 $ 1,340 Reflected as: Other current liabilities $ 76 $ 130 Other long-term liabilities 1,252 1,210 Total ARO liability $ 1,328 $ 1,340 |
PAC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of PacifiCorp's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 304 $ 270 Change in estimated costs 20 40 Additions 3 — Retirements (6) (15) Accretion 10 9 Ending balance $ 331 $ 304 Reflected as: Other current liabilities $ 11 $ 5 Other long-term liabilities 320 299 $ 331 $ 304 |
MEC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Summary of Asset Retirement Obligations By Type | The following table presents MidAmerican Energy's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Quad Cities Station $ 417 $ 427 Fossil-fueled generating facilities 76 161 Wind-powered generating facilities 210 197 Solar-powered generating facilities and other 4 2 Total asset retirement obligations $ 707 $ 787 Quad Cities Station nuclear decommissioning trust funds (1) $ 664 $ 768 (1) Refer to Note 6 for a discussion of the Quad Cities Station nuclear decommissioning trust funds. |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of MidAmerican Energy's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 787 $ 818 Change in estimated costs (27) 35 Additions 2 6 Retirements (85) (103) Accretion 30 31 Ending balance $ 707 $ 787 Reflected as: Other current liabilities $ 24 $ 73 Asset retirement obligations 683 714 $ 707 $ 787 |
NPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Summary of Asset Retirement Obligations By Type | The following table presents Nevada Power's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Waste water remediation $ 31 $ 37 Evaporative ponds and dry ash landfills 14 13 Solar-powered generating facilities 3 3 Other 11 15 Total asset retirement obligations $ 59 $ 68 |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of Nevada Power's ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 68 $ 72 Change in estimated costs 5 — Retirements (16) (6) Accretion 2 2 Ending balance $ 59 $ 68 Reflected as: Other current liabilities $ 16 $ 19 Other long-term liabilities 43 49 $ 59 $ 68 |
SPPC | |
Asset Retirement Obligations Disclosure [Line Items] | |
Summary of Asset Retirement Obligations By Type | The following table presents Sierra Pacific's ARO liabilities by asset type as of December 31 (in millions): 2022 2021 Asbestos $ 5 $ 5 Evaporative ponds and dry ash landfills 3 3 Other 3 3 Total asset retirement obligations $ 11 $ 11 |
EEGH | |
Asset Retirement Obligations Disclosure [Line Items] | |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of Eastern Energy Gas' ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 55 $ 71 Additions 4 — Retirements (12) (17) Accretion 1 1 Ending balance $ 48 $ 55 Reflected as: Current liabilities $ 25 $ 33 Other long-term liabilities 23 22 Total ARO liability $ 48 $ 55 |
EGTS | |
Asset Retirement Obligations Disclosure [Line Items] | |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of EGTS' ARO liabilities for the years ended December 31 (in millions): 2022 2021 Beginning balance $ 55 $ 71 Additions 4 — Retirements (12) (17) Accretion 1 1 Ending balance $ 48 $ 55 Reflected as: Current liabilities $ 25 $ 33 Other long-term liabilities 23 22 Total ARO liability $ 48 $ 55 |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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): Other Other Other Current Other Current Long-term Assets Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 279 $ 27 $ 9 $ 3 $ 318 Commodity liabilities (22) (7) (14) (5) (48) Total 257 20 (5) (2) 270 Total derivatives 257 20 (5) (2) 270 Cash collateral payable (2) (73) (5) — — (78) Total derivatives - net basis $ 184 $ 15 $ (5) $ (2) $ 192 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 December 31, 2022 a regulatory liability of $270 million was recorded related to the net derivative asset of $270 million. As of December 31, 2021 regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. (2) As December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. |
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts | The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory (liabilities) assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory (liabilities) assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (53) $ 17 $ 62 Changes in fair value recognized in regulatory (liabilities) assets (513) (171) (11) Net (losses) gains reclassified to operating revenue (13) (23) 3 Net gains (losses) reclassified to cost of fuel and energy 309 124 (37) Ending balance $ (270) $ (53) $ 17 |
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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases, net Megawatt hours 2 2 Natural gas purchases Decatherms 127 106 |
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 Current Long-term Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 23 $ — $ — $ 23 Commodity liabilities — (51) (24) (75) Total derivative - net basis $ 23 $ (51) $ (24) $ (52) 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 December 31, 2022 and 2021, a regulatory asset of $52 million and $113 million, respectively, was recorded related to the net derivative liability of $52 million and $113 million, respectively. |
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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases Megawatt hours 2 1 Natural gas purchases Decatherms 109 119 |
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): Other Other Other Current Current Long-term Assets Liabilities Liabilities Total As of December 31, 2022: Not designated as hedging contracts (1) : Commodity assets $ 8 $ — $ — $ 8 Commodity liabilities — (14) (7) (21) Total derivative - net basis $ 8 $ (14) $ (7) $ (13) 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 December 31, 2022 and 2021, a regulatory asset of $13 million and $33 million, respectively, was recorded related to the net derivative liability of $13 million and $33 million, respectively. |
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 December 31 (in millions): Unit of Measure 2022 2021 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 52 53 |
EEGH | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity and foreign currency derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2022 2021 Foreign currency Euro € 250 250 Natural gas Dth 3 2 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 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 fair value of plan assets, by major category, for the Company's defined benefit pension plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ — $ 51 $ 51 Debt securities: U.S. government obligations 109 — 109 Corporate obligations — 613 613 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 81 81 Equity securities: U.S. companies 198 — 198 International companies 1 — 1 Total assets in the fair value hierarchy $ 308 $ 788 1,096 Investment funds (2) measured at net asset value 885 Limited partnership interests (3) measured at net asset value 32 Total assets measured at fair value $ 2,013 As of December 31, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: U.S. government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: U.S. companies 135 — 135 Total assets in the fair value hierarchy $ 277 $ 1,135 1,412 Investment funds (2) measured at net asset value 1,349 Limited partnership interests (3) measured at net asset value 34 Total assets measured at fair value $ 2,795 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 53% and 47%, respectively, for 2022 and 54% and 46%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 95% and 5%, respectively, for 2022 and 89% and 11%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. The following table presents the fair value of plan assets, by major category, for the Company's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Total As of December 31, 2022: Cash equivalents $ 15 $ 9 $ 24 Debt securities: U.S. government obligations 8 — 8 Corporate obligations — 52 52 Municipal obligations — 35 35 Agency, asset and mortgage-backed obligations — 49 49 Equity securities: U.S. companies 7 — 7 Investment funds (2) 307 — 307 Total assets in the fair value hierarchy $ 337 $ 145 482 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Total assets measured at fair value $ 614 As of December 31, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: U.S. government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: U.S. companies 4 — 4 Investment funds (2) 394 — 394 Total assets in the fair value hierarchy $ 437 $ 170 607 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Total assets measured at fair value $ 769 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 55% and 45%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 88% and 12%, respectively, for 2022 and 88% and 12%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. The following table presents the fair value of the UK Plan assets, by major category (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 1 $ 29 $ — $ 30 Debt securities: United Kingdom government obligations 711 — — 711 Equity securities: Investment funds (2) — 312 — 312 Real estate funds — — 214 214 Total $ 712 $ 341 $ 214 1,267 Investment funds (2) measured at net asset value 96 Total assets measured at fair value $ 1,363 As of December 31, 2021: Cash equivalents $ 5 $ 27 $ — $ 32 Debt securities: United Kingdom government obligations 1,308 — — 1,308 Equity securities: Investment funds (2) — 646 — 646 Real estate funds — — 269 269 Total $ 1,313 $ 673 $ 269 2,255 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,363 (1) Refer to Note 15 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 25% and 75%, respectively, for 2022 and 23% and 77%, respectively, for 2021. 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 December 31, 2022: Assets: Commodity derivatives $ 6 $ 614 $ 51 $ (194) $ 477 Interest rate derivatives 50 54 8 — 112 Mortgage loans held for sale — 474 — — 474 Money market mutual funds 1,178 — — — 1,178 Debt securities: U.S. government obligations 2,146 — — — 2,146 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 3,771 — — — 3,771 Investment funds 231 — — — 231 $ 7,742 $ 1,217 $ 59 $ (194) $ 8,824 Liabilities: Commodity derivatives $ (8) $ (206) $ (110) $ 106 $ (218) Foreign currency exchange rate derivatives — (21) — — (21) Interest rate derivatives — (2) (2) 1 (3) $ (8) $ (229) $ (112) $ 107 $ (242) 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 December 31, 2022 and 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 for the years ended December 31 (in millions). Transfers out of Level 3 occur primarily due to increased price observability. Commodity Derivatives Interest Rate Derivatives 2022 2021 2020 2022 2021 2020 Beginning balance $ (151) $ 116 $ 97 $ 19 $ 62 $ 14 Changes included in earnings (1) (85) (43) (10) (13) (43) 48 Changes in fair value recognized in OCI 9 (13) — — — — Changes in fair value recognized in net regulatory assets (52) (118) (17) — — — Purchases 3 (76) 5 — — — Settlements 171 (34) 41 — — — Transfers out of Level 3 into Level 2 46 17 — — — — Ending balance $ (59) $ (151) $ 116 $ 6 $ 19 $ 62 (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 as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 51,635 $ 46,906 $ 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 the fair value of plan assets, by major category, for PacifiCorp's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash equivalents $ — $ 10 $ — $ 10 Debt securities: U.S. government obligations 41 — — 41 Corporate obligations — 211 — 211 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 34 — 34 Equity securities: U.S. companies 69 — — 69 Total assets in the fair value hierarchy $ 110 $ 270 $ — $ 380 Investment funds (2) measured at net asset value 346 Limited partnership interests (3) measured at net asset value 32 Investments at fair value $ 758 As of December 31, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: U.S. companies 61 — — 61 Total assets in the fair value hierarchy $ 112 $ 374 $ — $ 486 Investment funds (2) measured at net asset value 538 Limited partnership interests (3) measured at net asset value 34 Investments at fair value $ 1,058 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 50% and 50%, respectively, for 2022 and 59% and 41%, respectively, for 2021, and are invested in U.S. and international securities of approximately 90% and 10%, respectively, for 2022 and 84% and 16%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate. The following table presents the fair value of plan assets, by major category, for PacifiCorp's defined benefit other postretirement plan (in millions): Input Levels for Fair Value Measurements Level 1 (1) Level 2 (1) Level 3 (1) Total As of December 31, 2022: Cash and cash equivalents $ 5 $ 5 $ — $ 10 Debt securities: U.S. government obligations 6 — — 6 Corporate obligations — 49 — 49 Municipal obligations — 13 — 13 Agency, asset and mortgage-backed obligations — 47 — 47 Equity securities: U.S. companies 7 — — 7 Total assets in the fair value hierarchy $ 18 $ 114 $ — 132 Investment funds (2) measured at net asset value 132 Limited partnership interests (3) measured at net asset value — Investments at fair value $ 264 As of December 31, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: U.S. government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: U.S. companies 4 — — 4 Total assets in the fair value hierarchy $ 32 $ 130 $ — 162 Investment funds (2) measured at net asset value 161 Limited partnership interests (3) measured at net asset value 1 Investments at fair value $ 324 (1) Refer to Note 13 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are substantially comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 41% and 59%, respectively, for 2022 and 39% and 61%, respectively, for 2021, and are invested in U.S. and international securities of approximately 91% and 9%, respectively, for 2022 and 90% and 10%, respectively, for 2021. (3) Limited partnership interests include several funds that invest primarily in real estate, buyout, growth equity and venture capital. 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 December 31, 2022: Assets: Commodity derivatives $ — $ 318 $ — $ (119) $ 199 Money market mutual funds 649 — — — 649 Investment funds 23 — — — 23 $ 672 $ 318 $ — $ (119) $ 871 Liabilities - Commodity derivatives $ — $ (48) $ — $ 41 $ (7) 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 $78 million and a net cash collateral receivable of $5 million as of December 31, 2022 and 2021, respectively. As December 31, 2022, PacifiCorp had an additional $12 million cash collateral payable that was not required to be netted against total derivatives. |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of PacifiCorp's long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 9,666 $ 9,045 $ 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 the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit pension plan (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: U.S. government obligations 22 — — 22 Corporate obligations — 135 — 135 Municipal obligations — 10 — 10 Agency, asset and mortgage-backed obligations — 13 — 13 Equity securities: U.S. companies 71 — — 71 International companies 1 — — 1 Total assets in the fair value hierarchy $ 94 $ 173 $ — 267 Investment funds (2) measured at net asset value 223 Total assets measured at fair value $ 490 As of December 31, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: U.S. government obligations 33 — — 33 Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: U.S. companies 35 — — 35 Total assets in the fair value hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 55% and 45%, respectively, for 2022 and 56% and 44%, respectively, for 2021. Additionally, these funds are invested in U.S. and international securities of approximately 97% and 3%, respectively, for 2022 and 90% and 10%, respectively, for 2021. The following table presents the fair value of plan assets, by major category, for MidAmerican Energy's defined benefit other postretirement plans (in millions): Input Levels for Fair Value Measurements (1) Level 1 Level 2 Level 3 Total As of December 31, 2022: Cash equivalents $ 10 $ — $ — $ 10 Debt securities: U.S. government obligations 2 — — 2 Corporate obligations — 3 — 3 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 2 — 2 Equity securities: Investment funds (2) 201 — — 201 Total assets measured at fair value $ 213 $ 27 $ — $ 240 As of December 31, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: U.S. government obligations 3 — — 3 Corporate obligations — 6 — 6 Municipal obligations — 28 — 28 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 260 — — 260 Total assets measured at fair value $ 271 $ 37 $ — $ 308 (1) Refer to Note 12 for additional discussion regarding the three levels of the fair value hierarchy. (2) Investment funds are comprised of mutual funds and collective trust funds. These funds consist of equity and debt securities of approximately 82% and 18%, respectively, for 2022 and 2021. Additionally, these funds are invested in U.S. and international securities of approximately 82% and 18%, respectively, for 2022 and for 2021. 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 December 31, 2022: Assets: Commodity derivatives $ 1 $ 37 $ 6 $ (10) $ 34 Money market mutual funds 225 — — — 225 Debt securities: U.S. government obligations 215 — — — 215 International government obligations — 1 — — 1 Corporate obligations — 70 — — 70 Municipal obligations — 3 — — 3 Agency, asset and mortgage-backed obligations — 1 — — 1 Equity securities: U.S. companies 360 — — — 360 International companies 8 — — — 8 Investment funds 16 — — — 16 $ 825 $ 112 $ 6 $ (10) $ 933 Liabilities - commodity derivatives $ — $ (12) $ (1) $ 10 $ (3) 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 receivable of $— million and $5 million as of December 31, 2022 and 2021, respectively. |
Fair Value of Derivative Asset (Liability) Reconciliation | The following table reconciles the beginning and ending balances of MidAmerican Energy's commodity derivative assets and liabilities measured at fair value on a recurring basis using significant Level 3 inputs (in millions): 2022 2021 2020 Beginning balance $ (5) $ 2 $ 1 Changes in fair value recognized in net regulatory assets 37 (2) 2 Settlements (27) (5) (1) Ending balance $ 5 $ (5) $ 2 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of MidAmerican Energy's long-term debt as of December 31 (in millions): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,729 $ 6,964 $ 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 as of December 31 (in millions): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,969 $ 7,219 $ 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 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 December 31, 2022: Assets: Commodity derivatives $ — $ — $ 23 $ 23 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 23 $ 60 Liabilities - commodity derivatives $ — $ — $ (75) $ (75) 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 net commodity derivative assets or liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (113) $ 15 $ (8) Changes in fair value recognized in regulatory assets or liabilities (68) (90) (17) Settlements 129 (38) 40 Ending balance $ (52) $ (113) $ 15 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of Nevada Power's long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,195 $ 3,114 $ 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 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 December 31, 2022: Assets: Commodity derivatives $ — $ — $ 8 $ 8 Money market mutual funds 49 — — 49 Investment funds 1 — — 1 $ 50 $ — $ 8 $ 58 Liabilities - commodity derivatives $ — $ — $ (21) $ (21) 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 net commodity derivative assets or liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ (33) $ 7 $ (1) Changes in fair value recognized in regulatory assets or liabilities (21) (25) (2) Settlements 41 (15) 10 Ending balance $ (13) $ (33) $ 7 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of Sierra Pacific's long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,148 $ 1,111 $ 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 December 31, 2022 Assets: Commodity derivative $ — $ 1 $ — $ 1 Money market mutual funds 42 — — 42 Equity securities: Investment funds 14 — — 14 $ 56 $ 1 $ — $ 57 Liabilities: Foreign currency exchange rate derivatives $ — $ (20) $ — $ (20) $ — $ (20) $ — $ (20) 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 as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,892 $ 3,510 $ 3,906 $ 4,266 |
EGTS | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents EGTS' financial assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): Input Levels for Fair Value Measurements Level 1 Level 2 Level 3 Total As of December 31, 2022 Assets: Commodity derivatives $ — $ 1 $ — $ 1 Money market mutual funds 8 — — 8 Equity securities: Investment funds 14 — — 14 $ 22 $ 1 $ — $ 23 As of December 31, 2021 Assets: Equity securities: Investment funds $ 13 $ — $ — $ 13 $ 13 $ — $ — $ 13 |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of EGTS' long-term debt as of December 31 (in millions): 2022 2021 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,582 $ 1,337 $ 1,581 $ 1,812 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 3,431 $ 1,879 $ 1,381 $ 1,286 $ 1,234 $ 11,862 $ 21,073 Construction commitments 2,434 1,088 144 294 10 — 3,970 Easements 88 86 85 86 87 3,049 3,481 Maintenance, service and other contracts 461 350 297 283 256 1,472 3,119 $ 6,414 $ 3,403 $ 1,907 $ 1,949 $ 1,587 $ 16,383 $ 31,643 |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 252 $ 252 $ — Accrued losses 225 — 252 Payments (53) — — Ending balance $ 424 $ 252 $ 252 |
PAC | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | Minimum payments as of December 31, 2022 are as follows (in millions): 2023 2024 2025 2026 2027 2028 and Thereafter Total Contract type: Purchased electricity contracts - commercially operable $ 547 $ 241 $ 199 $ 197 $ 197 $ 2,162 $ 3,543 Purchased electricity contracts - non-commercially operable — — 6 12 12 208 238 Fuel contracts 784 398 148 146 153 401 2,030 Construction commitments 535 210 14 1 — — 760 Transmission 108 100 74 65 55 418 820 Easements 21 20 20 21 21 720 823 Maintenance, service and other contracts 101 54 55 53 53 197 513 Total commitments $ 2,096 $ 1,023 $ 516 $ 495 $ 491 $ 4,106 $ 8,727 |
Schedule of Loss Contingencies by Contingency | The following table presents changes in PacifiCorp's liability for estimated losses associated with the 2020 Wildfires for the years ended December 31 (in millions): 2022 2021 2020 Beginning balance $ 252 $ 252 $ — Accrued losses 225 — 252 Payments (53) — — Ending balance $ 424 $ 252 $ 252 |
MEC | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | MidAmerican Energy had the following firm commitments that are not reflected on the Balance Sheet. Minimum payments as of December 31, 2022, are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Coal and natural gas for generation $ 139 $ 81 $ 60 $ 29 $ 30 $ — $ 339 Electric capacity and transmission 33 32 33 33 17 7 155 Natural gas contracts for gas operations 172 78 70 60 47 33 460 Construction commitments 699 60 24 4 — — 787 Easements 42 43 44 44 45 1,536 1,754 Maintenance, services and other 165 129 98 102 99 163 756 $ 1,250 $ 423 $ 329 $ 272 $ 238 $ 1,739 $ 4,251 |
NPC | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | Nevada Power has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2023 2024 2025 2026 2027 2028 and Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 1,149 $ 485 $ 357 $ 360 $ 349 $ 2,871 $ 5,571 Fuel and capacity contract commitments (not commercially operable) 60 181 211 211 211 4,148 5,022 Construction commitments 525 77 20 21 10 — 653 Easements 5 3 2 2 2 50 64 Maintenance, service and other contracts 30 24 24 19 11 38 146 Total commitments $ 1,769 $ 770 $ 614 $ 613 $ 583 $ 7,107 $ 11,456 |
SPPC | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | Sierra Pacific has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2022 are as follows (in millions): 2028 and 2023 2024 2025 2026 2027 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 413 $ 244 $ 184 $ 134 $ 127 $ 1,447 $ 2,549 Fuel and capacity contract commitments (not commercially operable) 8 11 12 12 11 236 290 Construction commitments 500 741 86 268 — — 1,595 Easements 2 2 2 2 2 33 43 Maintenance, service and other contracts 7 5 5 3 — 5 25 Total commitments $ 930 $ 1,003 $ 289 $ 419 $ 140 $ 1,721 $ 4,502 |
Revenue from Contract with Cust
Revenue from Contract with Customer (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes the Company's energy products and services Customer Revenue by regulated energy and nonregulated energy, with further disaggregation of regulated energy by line of business, including a reconciliation to the Company's reportable segment information included in Note 22, for the years ended December 31 (in millions): 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 $ 5,099 $ 2,320 $ 3,465 $ — $ — $ — $ — $ — $ 10,884 Retail Gas — 855 167 — — — — — 1,022 Wholesale 260 668 92 — 8 — — (4) 1,024 Transmission and 166 61 76 1,081 — 683 — — 2,067 Interstate pipeline — — — — 2,603 — — (127) 2,476 Other 102 — 2 — 3 — — (2) 105 Total Regulated 5,627 3,904 3,802 1,081 2,614 683 — (133) 17,578 Nonregulated — 7 — 169 1,076 70 866 597 2,785 Total Customer Revenue 5,627 3,911 3,802 1,250 3,690 753 866 464 20,363 Other revenue 52 114 22 115 154 (21) 128 142 706 Total $ 5,679 $ 4,025 $ 3,824 $ 1,365 $ 3,844 $ 732 $ 994 $ 606 $ 21,069 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 $ 4,847 $ 2,128 $ 2,828 $ — $ — $ — $ — $ (2) $ 9,801 Retail Gas — 859 115 — — — — — 974 Wholesale 157 454 62 — 57 — — (3) 727 Transmission and 143 58 74 1,023 — 702 — — 2,000 Interstate pipeline — — — — 2,404 — — (131) 2,273 Other 108 — 1 — (1) — — 1 109 Total Regulated 5,255 3,499 3,080 1,023 2,460 702 — (135) 15,884 Nonregulated — 15 3 43 956 35 796 576 2,424 Total Customer Revenue 5,255 3,514 3,083 1,066 3,416 737 796 441 18,308 Other revenue 41 33 24 122 128 (6) 185 100 627 Total $ 5,296 $ 3,547 $ 3,107 $ 1,188 $ 3,544 $ 731 $ 981 $ 541 $ 18,935 2020 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail Electric $ 4,932 $ 1,924 $ 2,566 $ — $ — $ — $ — $ (1) $ 9,421 Retail Gas — 505 114 — — — — — 619 Wholesale 107 199 45 — 17 — — (2) 366 Transmission and 96 60 95 887 — 641 — — 1,779 Interstate pipeline — — — — 1,397 — — (139) 1,258 Other 108 — 2 — — — — — 110 Total Regulated 5,243 2,688 2,822 887 1,414 641 — (142) 13,553 Nonregulated — 16 2 26 134 18 817 515 1,528 Total Customer Revenue 5,243 2,704 2,824 913 1,548 659 817 373 15,081 Other revenue 98 24 30 109 30 — 119 65 475 Total $ 5,341 $ 2,728 $ 2,854 $ 1,022 $ 1,578 $ 659 $ 936 $ 438 $ 15,556 (1) The BHE and Other reportable segment represents amounts related principally to other entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations. The following table summarizes the Company's real estate services Customer Revenue by line of business for the years ended December 31 (in millions): HomeServices 2022 2021 2020 Customer Revenue: Brokerage $ 4,867 $ 5,498 $ 4,520 Franchise 66 85 76 Total Customer Revenue 4,933 5,583 4,596 Mortgage and other revenue 335 632 800 Total $ 5,268 $ 6,215 $ 5,396 |
Schedule of Performance Obligation | 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 December 31, 2022, by reportable segment (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,835 $ 20,619 $ 23,454 BHE Transmission 679 — 679 Total $ 3,514 $ 20,619 $ 24,133 |
PAC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes PacifiCorp's Customer Revenue by line of business, with further disaggregation of retail by customer class, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Retail: Residential $ 2,013 $ 1,914 $ 1,910 Commercial 1,645 1,559 1,578 Industrial 1,163 1,125 1,185 Other retail 278 249 259 Total retail 5,099 4,847 4,932 Wholesale 260 157 107 Transmission 166 143 96 Other Customer Revenue 102 108 108 Total Customer Revenue 5,627 5,255 5,243 Other revenue 52 41 98 Total operating revenue $ 5,679 $ 5,296 $ 5,341 |
MEC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes MidAmerican Energy's revenue by line of business and customer class, including a reconciliation to MidAmerican Energy's reportable segment information included in Note 19, (in millions): For the Year Ended December 31, 2022 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 765 $ 555 $ — $ 1,320 Commercial 354 216 — 570 Industrial 1,047 38 — 1,085 Natural gas transportation services — 44 — 44 Other retail 154 2 — 156 Total retail 2,320 855 — 3,175 Wholesale 495 173 — 668 Multi-value transmission projects 61 — — 61 Other Customer Revenue — — 7 7 Total Customer Revenue 2,876 1,028 7 3,911 Other revenue 112 2 — 114 Total operating revenue $ 2,988 $ 1,030 $ 7 $ 4,025 For the Year Ended December 31, 2021 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 718 $ 564 $ — $ 1,282 Commercial 327 223 — 550 Industrial 934 30 — 964 Natural gas transportation services — 39 — 39 Other retail 149 3 — 152 Total retail 2,128 859 — 2,987 Wholesale 312 142 — 454 Multi-value transmission projects 58 — — 58 Other Customer Revenue — — 15 15 Total Customer Revenue 2,498 1,001 15 3,514 Other revenue 31 2 — 33 Total operating revenue $ 2,529 $ 1,003 $ 15 $ 3,547 For the Year Ended December 31, 2020 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 685 $ 342 $ — $ 1,027 Commercial 304 111 — 415 Industrial 804 14 — 818 Natural gas transportation services — 36 — 36 Other retail 131 2 — 133 Total retail 1,924 505 — 2,429 Wholesale 133 66 — 199 Multi-value transmission projects 60 — — 60 Other Customer Revenue — — 8 8 Total Customer Revenue 2,117 571 8 2,696 Other revenue 22 2 — 24 Total operating revenue $ 2,139 $ 573 $ 8 $ 2,720 |
NPC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Nevada Power's Customer Revenue by customer class for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Retail: Residential $ 1,440 $ 1,207 $ 1,145 Commercial 525 414 384 Industrial 528 386 345 Other 14 14 12 Total fully bundled 2,507 2,021 1,886 Distribution-only service 20 22 24 Total retail 2,527 2,043 1,910 Wholesale, transmission and other 82 74 62 Total Customer Revenue 2,609 2,117 1,972 Other revenue 21 22 26 Total operating revenue $ 2,630 $ 2,139 $ 1,998 |
SPPC | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Sierra Pacific's Customer Revenue by customer class, including a reconciliation to Sierra Pacific's reportable segment information included in Note 18, for the years ended December 31 (in millions): 2022 2021 2020 Electric Natural Gas Total Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 365 $ 105 $ 470 $ 307 $ 76 $ 383 $ 273 $ 76 $ 349 Commercial 333 45 378 267 29 296 233 29 262 Industrial 229 16 245 202 10 212 170 9 179 Other 6 1 7 5 — 5 5 — 5 Total fully bundled 933 167 1,100 781 115 896 681 114 795 Distribution only service 5 — 5 3 — 3 4 — 4 Total retail 938 167 1,105 784 115 899 685 114 799 Wholesale, transmission and other 86 — 86 62 — 62 50 — 50 Total Customer Revenue 1,024 167 1,191 846 115 961 735 114 849 Other revenue 1 1 2 2 2 4 3 2 5 Total operating revenue $ 1,025 $ 168 $ 1,193 $ 848 $ 117 $ 965 $ 738 $ 116 $ 854 |
EEGH | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes Eastern Energy Gas' Customer Revenue by regulated and nonregulated, with further disaggregation of regulated by line of business, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Regulated: Gas transmission and storage $ 1,179 $ 1,044 $ 1,242 Wholesale 8 57 43 Other 1 (2) 4 Total regulated 1,188 1,099 1,289 Nonregulated 821 767 798 Total Customer Revenue 2,009 1,866 2,087 Other revenue (1) (3) 4 3 Total operating revenue $ 2,006 $ 1,870 $ 2,090 (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. |
Schedule of Performance Obligation | 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 December 31, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,694 $ 15,598 $ 17,292 |
EGTS | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | The following table summarizes EGTS' Customer Revenue by regulated and other, with further disaggregation of regulated by line of business, for the years ended December 31 (in millions): 2022 2021 2020 Customer Revenue: Regulated: Gas transmission $ 644 $ 574 $ 583 Gas storage 248 188 191 Wholesale 8 57 41 Total regulated 900 819 815 Management services and other revenues 79 73 100 Total Customer Revenue 979 892 915 Other revenue (1) (6) (1) 1 Total operating revenue $ 973 $ 891 $ 916 (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. |
Schedule of Performance Obligation | The following table summarizes EGTS' revenue it expects to recognize in future periods related to significant unsatisfied remaining performance obligations for fixed contracts with expected durations in excess of one year as of December 31, 2022 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total EGTS $ 766 $ 3,431 $ 4,197 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of accumulated other comprehensive income (loss) | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table shows the change in accumulated other comprehensive loss attributable to BHE shareholders by each component of other comprehensive income (loss), net of applicable income taxes, for the year ended December 31 (in millions): Unrecognized Foreign Unrealized AOCI Amounts on Currency Gains (Losses) Attributable Retirement Translation on Cash Flow Noncontrolling To BHE Benefits Adjustment Hedges Interests Shareholders, Net Balance, December 31, 2019 $ (417) $ (1,296) $ 7 $ — $ (1,706) Other comprehensive (loss) income (65) 234 (15) — 154 BHE GT&S acquisition (10) — — 10 — Balance, December 31, 2020 (492) (1,062) (8) 10 (1,552) Other comprehensive income (loss) 174 (24) 67 (5) 212 Balance, December 31, 2021 (318) (1,086) 59 5 (1,340) Other comprehensive (loss) income (72) (810) 76 (3) (809) Balance, December 31, 2022 $ (390) $ (1,896) $ 135 $ 2 $ (2,149) |
EEGH | |
Schedule of accumulated other comprehensive income (loss) | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table shows the change in accumulated other comprehensive loss by each component of other comprehensive income (loss), net of applicable income taxes, for the year ended December 31 (in millions): Unrecognized Unrealized Accumulated Amounts On Losses On Other Retirement Cash Flow Noncontrolling Comprehensive Benefits Hedges Interests Loss, Net Balance, December 31, 2019 $ (106) $ (81) $ — $ (187) Other comprehensive income 94 30 10 134 Balance, December 31, 2020 (12) (51) 10 (53) Other comprehensive income (loss) 6 9 (5) 10 Balance, December 31, 2021 (6) (42) 5 (43) Other comprehensive income (loss) 5 (1) (3) 1 Balance, December 31, 2022 $ (1) $ (43) $ 2 $ (42) |
Reclassification out of Accumulated Other Comprehensive Income | The following table shows the reclassifications from AOCI to net income for the year ended December 31 (in millions): Amounts Affected Line Item In The Reclassified Consolidated Statements From AOCI of Operations 2022 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 3 Interest expense Foreign currency contracts 1 Other, net Total 4 Tax (1) Income tax expense (benefit) Total, net of tax $ 3 2021 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 6 Interest expense Foreign currency contracts 21 Other, net Total 27 Tax (7) Income tax expense (benefit) Total, net of tax $ 20 2020 Deferred (gains) and losses on derivatives-hedging activities: Interest rate contracts $ 157 Interest expense Foreign currency contracts (25) Other, net Total 132 Tax (34) Income tax expense (benefit) Total, net of tax $ 98 Unrecognized pension costs: Actuarial losses $ 6 Other, net Total 6 Tax (2) Income tax expense (benefit) Total, net of tax $ 4 |
Schedule of Cash Flow Hedges Included in AOCI | The following table presents selected information related to losses on cash flow hedges included in AOCI in Eastern Energy Gas' Consolidated Balance Sheet as of December 31, 2022 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (37) $ (3) 264 months Foreign currency (6) (4) 42 months Total $ (43) $ (7) |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
MEC | |
Component of Other Income (Expense), Nonoperating [Line Items] | |
Schedule of Other Nonoperating Income (Expense) | Other, net, as shown on the Statements of Operations, includes the following other income (expense) items for the years ended December 31 (in millions): 2022 2021 2020 Non-service cost components of postretirement employee benefit plans $ 9 $ 26 $ 24 Corporate-owned life insurance (loss) income (16) 21 16 Gains on disposition of assets — — 6 Interest income and other, net 7 6 6 Total $ — $ 53 $ 52 |
MidAmerican Funding, LLC | |
Component of Other Income (Expense), Nonoperating [Line Items] | |
Schedule of Other Nonoperating Income (Expense) | Other, net, as shown on the Consolidated Statements of Operations, includes the following other income (expense) items for the years ended December 31 (in millions): 2022 2021 2020 Non-service cost components of postretirement employee benefit plans $ 9 $ 26 $ 24 Corporate-owned life insurance (loss) income (16) 21 16 Gains on disposition of assets — — 6 Interest income and other, net 7 7 6 Total $ — $ 54 $ 52 |
Supplemental Cash Flow Disclo_2
Supplemental Cash Flow Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 1,591 $ 1,096 Investments and restricted cash and cash equivalents 173 127 Investments and restricted cash and cash equivalents and investments 53 21 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,817 $ 1,244 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,071 $ 2,041 $ 1,855 Income taxes received, net (1) $ 1,863 $ 1,309 $ 1,361 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 1,049 $ 834 $ 801 (1) Includes $1,961 million, $1,441 million and $1,504 million of income taxes received from Berkshire Hathaway in 2022, 2021 and 2020, respectively. |
PAC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 641 $ 179 Restricted cash included in other current assets 7 4 Restricted cash included in other assets 26 3 Total cash and cash equivalents and restricted cash and cash equivalents $ 674 $ 186 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 380 $ 395 $ 348 Income taxes (received) paid, net $ (185) $ (120) $ 107 Supplemental disclosure of non-cash investing and financing activities: Accruals related to property, plant and equipment additions $ 558 $ 254 $ 344 |
MEC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 258 $ 232 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 268 $ 239 The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 292 $ 279 $ 286 Income taxes received, net $ 840 $ 746 $ 709 Supplemental disclosure of non-cash investing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
MidAmerican Funding, LLC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021 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 December 31, 2022 2021 Cash and cash equivalents $ 261 $ 233 Restricted cash and cash equivalents in other current assets 10 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 271 $ 240 The summary of supplemental cash flow information as of and for the years ending December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 309 $ 296 $ 302 Income taxes received, net $ 845 $ 751 $ 715 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 168 $ 257 $ 227 |
NPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 43 $ 33 Restricted cash and cash equivalents included in other current assets 17 12 Total cash and cash equivalents and restricted cash and cash equivalents $ 60 $ 45 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 121 $ 115 $ 115 Income taxes (refunded) paid $ (29) $ 63 $ 50 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 98 $ 53 $ 32 |
SPPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 49 $ 10 Restricted cash and cash equivalents included in other current assets 7 6 Total cash and cash equivalents and restricted cash and cash equivalents $ 56 $ 16 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 45 $ 41 $ 42 Income taxes (refunded) paid $ (1) $ (3) $ 2 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 57 $ 27 $ 17 |
EEGH | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 65 $ 22 Restricted cash and cash equivalents 30 17 Total cash and cash equivalents and restricted cash and cash equivalents $ 95 $ 39 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 143 $ 144 $ 317 Income taxes paid (received), net $ 2 $ (60) $ 31 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 29 $ 42 $ 30 Equity distributions (1) $ (42) $ (137) $ — Equity contributions (1) $ 98 $ 73 $ — Distribution of Questar Pipeline Group $ — $ — $ (699) Distribution of 50% interest in Cove Point $ — $ — $ (2,765) Acquisition of Eastern Energy Gas by BHE $ — $ — $ 343 (1) Amounts primarily represent the forgiveness of affiliated receivables/payables. |
EGTS | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2022 and 2021, 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 December 31, 2022 2021 Cash and cash equivalents $ 16 $ 11 Restricted cash and cash equivalents 29 15 Total cash and cash equivalents and restricted cash and cash equivalents $ 45 $ 26 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2022 2021 2020 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 67 $ 71 $ 82 Income taxes paid (received), net $ 2 $ (12) $ 58 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 15 $ 29 $ 25 Equity dividends (1) $ (21) $ (58) $ — Equity contributions (2) $ 34 $ 292 $ — Acquisition of EGTS by BHE $ — $ — $ 40 (1) Equity dividends represents the forgiveness of affiliated receivables. (2) Equity contributions for the year ended December 31, 2021 primarily reflect the impacts from the intercompany debt exchange with Eastern Energy Gas. See Note 9 for more information regarding the intercompany debt exchange with Eastern Energy Gas. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
EEGH | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions | Presented below are Eastern Energy Gas' significant transactions with DES, Carolina Gas Services, DEQPS and other affiliated and related parties for the year ended December 31 (in millions): 2020 Sales of natural gas and transmission and storage services $ 207 Purchases of natural gas and transmission and storage services 10 Services provided by related parties (1) 129 Services provided to related parties (2) 83 (1) Includes capitalized expenditures of $14 million. (2) Includes amounts attributable to Atlantic Coast Pipeline, a related party VIE prior to the GT&S Transaction. See below for more information. Presented below are Eastern Energy Gas' significant transactions with affiliated and related parties for the years ended December 31 (in millions): 2022 2021 2020 Sales of natural gas and transmission and storage services $ 27 $ 32 $ 4 Purchases of natural gas and transmission and storage services 4 5 — Services provided by related parties (1) 83 51 4 Services provided to related parties 38 32 7 (1) Includes capitalized expenditures. |
EGTS | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions | Presented below are EGTS' significant transactions with DES and other affiliated and related parties for the year ended December 31 (in millions): 2020 Sales of natural gas and transmission and storage services $ 71 Purchases of natural gas and transmission and storage services 7 Services provided by related parties (1) 67 Services provided to related parties (2) 86 (1) Includes capitalized expenditures of $14 million. (2) Includes amounts attributable to Atlantic Coast Pipeline, a related party VIE prior to the GT&S Transaction. See below for more information. Presented below are EGTS' significant transactions with related parties for the years ended December 31 (in millions): 2022 2021 2020 Sales of natural gas and transmission and storage services $ 26 $ 28 $ 4 Purchases of natural gas and transmission and storage services 4 5 — Services provided by related parties 46 26 2 Services provided to related parties 62 57 10 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information | Information related to the Company's reportable segments is shown below (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: PacifiCorp $ 5,679 $ 5,296 $ 5,341 MidAmerican Funding 4,025 3,547 2,728 NV Energy 3,824 3,107 2,854 Northern Powergrid 1,365 1,188 1,022 BHE Pipeline Group 3,844 3,544 1,578 BHE Transmission 732 731 659 BHE Renewables 994 981 936 HomeServices 5,268 6,215 5,396 BHE and Other (1) 606 541 438 Total operating revenue $ 26,337 $ 25,150 $ 20,952 Depreciation and amortization: PacifiCorp $ 1,120 $ 1,088 $ 1,209 MidAmerican Funding 1,168 914 716 NV Energy 566 549 502 Northern Powergrid 361 305 266 BHE Pipeline Group 508 492 231 BHE Transmission 239 238 201 BHE Renewables 264 241 284 HomeServices 56 52 45 BHE and Other (1) 4 2 1 Total depreciation and amortization $ 4,286 $ 3,881 $ 3,455 Years Ended December 31, 2022 2021 2020 Operating income: PacifiCorp $ 1,158 $ 1,133 $ 924 MidAmerican Funding 438 416 454 NV Energy 606 621 649 Northern Powergrid 551 543 421 BHE Pipeline Group 1,720 1,516 779 BHE Transmission 333 339 316 BHE Renewables 300 329 291 HomeServices 151 505 511 BHE and Other (1) (16) (75) (54) Total operating income 5,241 5,327 4,291 Interest expense (2,216) (2,118) (2,021) Capitalized interest 76 64 80 Allowance for equity funds 167 126 165 Interest and dividend income 154 89 71 (Losses) gains on marketable securities, net (2,002) 1,823 4,797 Other, net (7) (17) 88 Total income before income tax (benefit) expense and equity loss $ 1,413 $ 5,294 $ 7,471 Interest expense: PacifiCorp $ 431 $ 430 $ 426 MidAmerican Funding 333 319 322 NV Energy 221 206 227 Northern Powergrid 133 130 130 BHE Pipeline Group 148 143 74 BHE Transmission 153 155 148 BHE Renewables 175 158 166 HomeServices 7 4 11 BHE and Other (1) 615 573 517 Total interest expense $ 2,216 $ 2,118 $ 2,021 Income tax (benefit) expense: PacifiCorp $ (61) $ (78) $ (75) MidAmerican Funding (776) (680) (574) NV Energy 56 56 61 Northern Powergrid 75 192 96 BHE Pipeline Group 276 269 162 BHE Transmission 14 10 13 BHE Renewables (2) (887) (753) (602) HomeServices 47 138 138 BHE and Other (1) (660) (286) 1,089 Total income tax (benefit) expense $ (1,916) $ (1,132) $ 308 Years Ended December 31, 2022 2021 2020 Earnings on common shares: PacifiCorp $ 921 $ 889 $ 741 MidAmerican Funding 947 883 818 NV Energy 427 439 410 Northern Powergrid 385 247 201 BHE Pipeline Group 1,040 807 528 BHE Transmission 247 247 231 BHE Renewables (2) 625 451 521 HomeServices 100 387 375 BHE and Other (1) (2,017) 1,319 3,092 Total earnings on common shares $ 2,675 $ 5,669 $ 6,917 Capital expenditures: PacifiCorp $ 2,166 $ 1,513 $ 2,540 MidAmerican Funding 1,869 1,912 1,836 NV Energy 1,113 749 675 Northern Powergrid 768 742 682 BHE Pipeline Group 1,157 1,128 659 BHE Transmission 200 279 372 BHE Renewables 138 225 95 HomeServices 48 42 36 BHE and Other 46 21 (130) Total capital expenditures $ 7,505 $ 6,611 $ 6,765 As of December 31, 2022 2021 2020 Property, plant and equipment, net: PacifiCorp $ 24,430 $ 22,914 $ 22,430 MidAmerican Funding 21,092 20,302 19,279 NV Energy 10,993 10,231 9,865 Northern Powergrid 7,445 7,572 7,230 BHE Pipeline Group 16,216 15,692 15,097 BHE Transmission 6,209 6,590 6,445 BHE Renewables 6,231 6,103 5,645 HomeServices 188 169 159 BHE and Other 239 243 (22) Total property, plant and equipment, net $ 93,043 $ 89,816 $ 86,128 As of December 31, 2022 2021 2020 Total assets: PacifiCorp $ 30,559 $ 27,615 $ 26,862 MidAmerican Funding 26,077 25,352 23,530 NV Energy 16,676 15,239 14,501 Northern Powergrid 9,005 9,326 8,782 BHE Pipeline Group 21,005 20,434 19,541 BHE Transmission 9,334 9,476 9,208 BHE Renewables 11,458 11,829 12,004 HomeServices 3,436 4,574 4,955 BHE and Other 6,290 8,220 7,933 Total assets $ 133,840 $ 132,065 $ 127,316 Years Ended December 31, 2022 2021 2020 Operating revenue by country: U.S. $ 24,263 $ 23,215 $ 19,254 United Kingdom 1,345 1,188 1,022 Canada 709 719 653 Australia 20 — — Other — 28 23 Total operating revenue by country $ 26,337 $ 25,150 $ 20,952 Income before income tax (benefit) expense and equity loss by country: U.S. $ 771 $ 4,650 $ 6,954 United Kingdom 447 454 338 Canada 181 181 173 Australia 15 (8) — Other (1) 17 6 Total income before income tax (benefit) expense and equity loss by country $ 1,413 $ 5,294 $ 7,471 As of December 31, 2022 2021 2020 Property, plant and equipment, net by country: U.S. $ 79,578 $ 75,774 $ 72,583 United Kingdom 6,959 7,487 7,134 Canada 6,091 6,547 6,401 Australia 415 8 10 Total property, plant and equipment, net by country $ 93,043 $ 89,816 $ 86,128 (1) The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate to other corporate entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations. (2) Income tax (benefit) expense includes the tax attributes of disregarded entities that are not required to pay income taxes and the earnings of which are taxable directly to BHE. |
Schedule of Goodwill | The following table shows the change in the carrying amount of goodwill by reportable segment for the years ended December 31, 2022 and 2021 (in millions): BHE MidAmerican NV Northern Pipeline BHE BHE PacifiCorp Funding Energy Powergrid Group Transmission Renewables HomeServices Total December 31, 2020 $ 1,129 $ 2,102 $ 2,369 $ 1,000 $ 1,803 $ 1,551 $ 95 $ 1,457 $ 11,506 Acquisitions — — — — 11 — — 129 140 Foreign currency translation — — — (8) — 12 — — 4 December 31, 2021 1,129 2,102 2,369 992 1,814 1,563 95 1,586 11,650 Acquisitions — — — — — — — 16 16 Foreign currency translation — — — (75) — (102) — — (177) December 31, 2022 $ 1,129 $ 2,102 $ 2,369 $ 917 $ 1,814 $ 1,461 $ 95 $ 1,602 $ 11,489 |
MEC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information | The following tables provide information on a reportable segment basis (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 2,988 $ 2,529 $ 2,139 Regulated natural gas 1,030 1,003 573 Other 7 15 8 Total operating revenue $ 4,025 $ 3,547 $ 2,720 Depreciation and amortization: Regulated electric $ 1,112 $ 861 $ 667 Regulated natural gas 56 53 49 Total depreciation and amortization $ 1,168 $ 914 $ 716 Operating income: Regulated electric $ 372 $ 358 $ 384 Regulated natural gas 66 58 64 Total operating income $ 438 $ 416 $ 448 Interest expense: Regulated electric $ 290 $ 279 $ 281 Regulated natural gas 23 23 23 Total interest expense $ 313 $ 302 $ 304 Years Ended December 31, 2022 2021 2020 Income tax (benefit) expense: Regulated electric $ (779) $ (677) $ (584) Regulated natural gas 9 3 14 Other — (1) — Total income tax (benefit) expense $ (770) $ (675) $ (570) Net income: Regulated electric $ 931 $ 844 $ 780 Regulated natural gas 30 50 45 Other — — 1 Net income $ 961 $ 894 $ 826 Capital expenditures: Regulated electric $ 1,742 $ 1,806 $ 1,704 Regulated natural gas 127 106 132 Total capital expenditures $ 1,869 $ 1,912 $ 1,836 As of December 31, 2022 2021 2020 Total assets: Regulated electric $ 22,092 $ 21,385 $ 19,892 Regulated natural gas 1,885 1,871 1,544 Other 1 1 1 Total assets $ 23,978 $ 23,257 $ 21,437 |
MidAmerican Funding, LLC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information | The following tables provide information on a reportable segment basis (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 2,988 $ 2,529 $ 2,139 Regulated natural gas 1,030 1,003 573 Other 7 15 16 Total operating revenue $ 4,025 $ 3,547 $ 2,728 Depreciation and amortization: Regulated electric $ 1,112 $ 861 $ 667 Regulated natural gas 56 53 49 Total depreciation and amortization $ 1,168 $ 914 $ 716 Years Ended December 31, 2022 2021 2020 Operating income: Regulated electric $ 372 $ 358 $ 384 Regulated natural gas 66 58 64 Other — — 6 Total operating income $ 438 $ 416 $ 454 Interest expense: Regulated electric $ 290 $ 279 $ 281 Regulated natural gas 23 23 23 Other 20 17 18 Total interest expense $ 333 $ 319 $ 322 Income tax (benefit) expense: Regulated electric $ (779) $ (677) $ (584) Regulated natural gas 9 3 14 Other (6) (6) (4) Total income tax (benefit) expense $ (776) $ (680) $ (574) Net income: Regulated electric $ 931 $ 844 $ 780 Regulated natural gas 30 50 45 Other (14) (11) (7) Net income $ 947 $ 883 $ 818 Capital expenditures: Regulated electric $ 1,742 $ 1,806 $ 1,704 Regulated natural gas 127 106 132 Total capital expenditures $ 1,869 $ 1,912 $ 1,836 As of December 31, 2022 2021 2020 Total assets: Regulated electric $ 23,283 $ 22,576 $ 21,083 Regulated natural gas 1,963 1,950 1,623 Other 8 5 5 Total assets $ 25,254 $ 24,531 $ 22,711 |
Schedule of Goodwill | Goodwill by reportable segment as of December 31, 2022 and 2021, was as follows (in millions): Regulated electric $ 1,191 Regulated natural gas 79 Total $ 1,270 |
SPPC | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information | The following tables provide information on a reportable segment basis (in millions): Years Ended December 31, 2022 2021 2020 Operating revenue: Regulated electric $ 1,025 $ 848 $ 738 Regulated natural gas 168 117 116 Total operating revenue $ 1,193 $ 965 $ 854 Operating income: Regulated electric $ 146 $ 148 $ 147 Regulated natural gas 19 19 18 Total operating income 165 167 165 Interest expense (58) (54) (56) Allowance for borrowed funds 3 2 2 Allowance for equity funds 7 7 4 Interest and dividend income 18 9 4 Other, net 2 11 7 Income before income tax expense $ 137 $ 142 $ 126 As of December 31, 2022 2021 2020 Assets Regulated electric $ 4,224 $ 3,829 $ 3,540 Regulated natural gas 441 365 342 Regulated common assets (1) 67 29 37 Total assets $ 4,732 $ 4,223 $ 3,919 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments. |
Organization and Operations (De
Organization and Operations (Details) | 12 Months Ended |
Dec. 31, 2022 naturalGasProducer company operatingSegment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of reportable segments | operatingSegment | 8 |
Number of owned and operated utility companies in the United States | 4 |
Number of states owned and operated utility companies serve customers | 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 | naturalGasProducer | 1 |
Number of owned and operated residential real estate brokerage firms in the United States | naturalGasProducer | 1 |
Number of owned and operated real estate franchise networks in the United States | 1 |
Organization and Operations - E
Organization and Operations - EEGH (Details) - EEGH | 12 Months Ended |
Dec. 31, 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 | FERC | Iroquois Gas Transmission System, L.P. | |
Variable Interest Entity [Line Items] | |
Miles of interstate natural gas transportation pipeline | 416 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - BHE - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Investments and restricted cash and cash equivalents and investments | 53 | 21 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 1,817 | $ 1,244 | $ 1,445 | $ 1,268 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - BHE - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | $ 108 | $ 77 | $ 44 |
Charged to operating costs and expenses, net | 43 | 81 | 56 |
Acquisitions | 0 | 0 | 5 |
Write-offs, net | (45) | (50) | (28) |
Ending balance | $ 106 | $ 108 | $ 77 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - BHE - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Feb. 28, 2021 | |
Allowance for Doubtful Accounts(1) [Line Items] | ||||
Inventory, other fossil fuel | $ 248 | $ 296 | ||
Inventory, raw materials and supplies, gross | 1,008 | 826 | ||
Replacement cost of inventory, higher (lower) | 22 | 27 | ||
Goodwill impairment | 0 | 0 | $ 0 | |
Unbilled revenue | 828 | 718 | ||
MEC | ||||
Allowance for Doubtful Accounts(1) [Line Items] | ||||
Inventory, raw materials and supplies, gross | 175 | 135 | ||
Replacement cost of inventory, higher (lower) | 22 | 27 | ||
Unbilled revenue | 102 | 85 | ||
Adjustment clause, under (over) collection in receivables | $ 156 | $ 230 | $ 245 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - PAC - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Investments and restricted cash and cash equivalents and investments | 53 | 21 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
PAC | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 641 | 179 | ||
Investments and restricted cash and cash equivalents | 7 | 4 | ||
Investments and restricted cash and cash equivalents and investments | 26 | 3 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 674 | $ 186 | $ 19 | $ 36 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - PAC - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 USD ($) operatingSegment reportableSegment | Dec. 31, 2021 USD ($) | |
Debt Securities, Available-for-sale [Line Items] | ||
Number of reportable segments | operatingSegment | 8 | |
PAC | ||
Debt Securities, Available-for-sale [Line Items] | ||
Accumulated unrealized gains and losses on available-for-sale securities | $ 0 | $ 0 |
Unbilled contracts receivable | $ 301 | $ 264 |
Number of reportable segments | reportableSegment | 1 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - PAC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
PAC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 18 | 17 | 8 |
Charged to operating costs and expenses, net | 18 | 13 | 18 |
Write-offs, net | (17) | (12) | (9) |
Ending balance | $ 19 | $ 18 | $ 17 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - MEC - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
MEC | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 258 | 232 | ||
Investments and restricted cash and cash equivalents | 10 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 268 | $ 239 | $ 45 | $ 330 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - MEC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
MEC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 12 | 12 | 5 |
Charged to operating costs and expenses, net | 11 | 10 | 12 |
Write-offs, net | (9) | (10) | (5) |
Ending balance | $ 14 | $ 12 | $ 12 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - MEC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Feb. 28, 2021 |
Allowance for Doubtful Accounts(1) [Line Items] | |||
Inventory, raw materials and supplies, gross | $ 1,008 | $ 826 | |
Replacement cost of inventory, higher (lower) | 22 | 27 | |
Unbilled revenue | 828 | 718 | |
MEC | |||
Allowance for Doubtful Accounts(1) [Line Items] | |||
Inventory, raw materials and supplies, gross | 175 | 135 | |
Public utility inventory, coal | 68 | 63 | |
Public utility inventory - natural gas in storage | 27 | 30 | |
Replacement cost of inventory, higher (lower) | 22 | 27 | |
Unbilled revenue | 102 | 85 | |
Adjustment clause, under (over) collection in receivables | $ 156 | $ 230 | $ 245 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - MidAmerican Funding LLC - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
MidAmerican Funding, LLC | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 261 | 233 | ||
Investments and restricted cash and cash equivalents | 10 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 271 | $ 240 | $ 46 | $ 331 |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - MidAmerican Funding LLC - Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Line Items] | |||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
MidAmerican Funding, LLC | |||
Goodwill [Line Items] | |||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - NPC - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
NPC | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 43 | 33 | ||
Investments and restricted cash and cash equivalents | 17 | 12 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 60 | $ 45 | $ 36 | $ 25 |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - NPC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
NPC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 18 | 19 | 15 |
Charged to operating costs and expenses, net | 14 | 13 | 13 |
Write-offs, net | (12) | (14) | (9) |
Ending balance | $ 20 | $ 18 | $ 19 |
Summary of Significant Accou_17
Summary of Significant Accounting Policies - NPC - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 USD ($) reportableSegment operatingSegment | Dec. 31, 2021 USD ($) | |
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 1,008 | $ 826 |
Number of reportable segments | operatingSegment | 8 | |
NPC | ||
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 93 | $ 64 |
AFUDC rate | 6.55% | 7.14% |
Unbilled contracts receivable | $ 143 | $ 107 |
Contractual assets | $ 4 | $ 6 |
Number of reportable segments | reportableSegment | 1 |
Summary of Significant Accou_18
Summary of Significant Accounting Policies - SPPC - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
SPPC | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 49 | 10 | ||
Investments and restricted cash and cash equivalents | 7 | 6 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 56 | $ 16 | $ 26 | $ 32 |
Summary of Significant Accou_19
Summary of Significant Accounting Policies - SPPC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
SPPC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 1 | 2 | 2 |
Charged to operating costs and expenses, net | 2 | 2 | 2 |
Write-offs, net | (1) | (3) | (2) |
Ending balance | $ 2 | $ 1 | $ 2 |
Summary of Significant Accou_20
Summary of Significant Accounting Policies - SPPC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 1,008 | $ 826 |
Inventory, other fossil fuel | 248 | 296 |
Unbilled revenue | 828 | 718 |
SPPC | ||
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | 69 | 62 |
Inventory, other fossil fuel | 10 | 3 |
Unbilled revenue | $ 94 | $ 78 |
Generation | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 5.52% | 6.75% |
Natural gas | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 5.09% | 5.75% |
Common Facilities | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 5.23% | 6.65% |
Summary of Significant Accou_21
Summary of Significant Accounting Policies - EEGH - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
EEGH | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 65 | 22 | ||
Investments and restricted cash and cash equivalents | 30 | 17 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 95 | $ 39 | $ 48 | $ 39 |
Summary of Significant Accou_22
Summary of Significant Accounting Policies - EEGH - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
EEGH | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 6 | 5 | 2 |
Charged to operating costs and expenses, net | 0 | 1 | 4 |
Write-offs, net | (3) | 0 | (1) |
Ending balance | $ 3 | $ 6 | $ 5 |
Summary of Significant Accou_23
Summary of Significant Accounting Policies - EEGH - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 USD ($) operatingSegment | Dec. 31, 2021 USD ($) | |
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 828 | $ 718 |
Number of reportable segments | operatingSegment | 8 | |
EEGH | ||
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 18 | 36 |
Contract assets | 10 | 19 |
Contract liabilities | $ 80 | $ 18 |
Number of reportable segments | operatingSegment | 1 |
Summary of Significant Accou_24
Summary of Significant Accounting Policies - EGTS - Reconciliation of Cash (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Investments and restricted cash and cash equivalents | 173 | 127 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,817 | 1,244 | $ 1,445 | $ 1,268 |
EGTS | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 16 | 11 | ||
Investments and restricted cash and cash equivalents | 29 | 15 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | $ 45 | $ 26 | $ 23 | $ 12 |
Summary of Significant Accou_25
Summary of Significant Accounting Policies - EGTS - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 43 | $ 81 | $ 56 |
Write-offs, net | (45) | (50) | (28) |
EGTS | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 3 | 2 | 1 |
Charged to operating costs and expenses, net | 0 | 1 | 1 |
Write-offs, net | (3) | 0 | 0 |
Ending balance | $ 0 | $ 3 | $ 2 |
Summary of Significant Accou_26
Summary of Significant Accounting Policies - EGTS - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 USD ($) operatingSegment | Dec. 31, 2021 USD ($) | |
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 828 | $ 718 |
Number of reportable segments | operatingSegment | 8 | |
EGTS | ||
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 9 | 28 |
Contract assets | 10 | 19 |
Contract liabilities | $ 9 | $ 3 |
Number of reportable segments | operatingSegment | 1 |
Business Acquisitions - Narrati
Business Acquisitions - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||||||
Jul. 14, 2021 | Nov. 02, 2020 | Nov. 01, 2020 | Oct. 05, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | |||||||
Revenues | $ 26,337 | $ 25,150 | $ 20,952 | ||||
Net income attributable to parent | 2,721 | 5,790 | 6,943 | ||||
Acquisitions, net of cash acquired | 314 | 122 | 2,397 | ||||
Goodwill | $ 11,489 | 11,650 | 11,506 | ||||
Iroquois Gas Transmission System, L.P. | |||||||
Business Acquisition [Line Items] | |||||||
Equity method investment, ownership percentage | 50% | ||||||
Natural Gas Transmission and Storage | |||||||
Business Acquisition [Line Items] | |||||||
Payments to acquire businesses | $ 2,500 | ||||||
Net income attributable to parent | $ 549 | 316 | 73 | ||||
Transaction costs | 9 | ||||||
Natural Gas Transmission and Storage | Natural Gas | |||||||
Business Acquisition [Line Items] | |||||||
Revenues | $ 2,402 | 2,159 | $ 331 | ||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | Other Ownership Interest | |||||||
Business Acquisition [Line Items] | |||||||
Variable interest entity, ownership percentage | 25% | 25% | |||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | General Partner | |||||||
Business Acquisition [Line Items] | |||||||
Variable interest entity, ownership percentage | 100% | 100% | |||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | Limited Partner | |||||||
Business Acquisition [Line Items] | |||||||
Variable interest entity, ownership percentage | 25% | 25% | |||||
Natural Gas Transmission and Storage | Iroquois Gas Transmission System, L.P. | |||||||
Business Acquisition [Line Items] | |||||||
Equity method investment, ownership percentage | 50% | ||||||
Natural Gas Transmission and Storage | Eastern Gas Transmission, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Ownership percentage acquired | 100% | ||||||
Natural Gas Transmission and Storage | Carolina Gas Transmission, LLC | |||||||
Business Acquisition [Line Items] | |||||||
Ownership percentage acquired | 100% | ||||||
Questar Pipeline Group and Dominion Questar Transaction | |||||||
Business Acquisition [Line Items] | |||||||
Payments to acquire businesses | $ 1,300 | $ 1,300 | $ 1,300 | ||||
Various acquisitions | |||||||
Business Acquisition [Line Items] | |||||||
Acquisitions, net of cash acquired | $ 314 | 122 | |||||
Assets acquired | 363 | 54 | |||||
Liabilities assumed | 65 | 61 | |||||
Goodwill | $ 16 | $ 129 |
Business Acquisitions - Summary
Business Acquisitions - Summary of Pro Forma Information (Details) - Natural Gas Transmission and Storage $ in Millions | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
Business Acquisition [Line Items] | |
Operating revenue | $ 22,581 |
Net income attributable to BHE shareholders | $ 6,800 |
Business Acquisitions and Dis_2
Business Acquisitions and Dispositions - EEGH (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Jul. 31, 2021 | Nov. 30, 2020 | Jul. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | ||||||
Distribution of net assets | $ 699 | |||||
Contributions | $ 5 | $ 9 | ||||
Noncontrolling Interest | ||||||
Business Acquisition [Line Items] | ||||||
Contributions | 5 | 9 | ||||
EEGH | ||||||
Business Acquisition [Line Items] | ||||||
Contributions | $ 98 | $ 419 | $ 1,223 | |||
EEGH | Cove Point LNG, LP | ||||||
Business Acquisition [Line Items] | ||||||
Noncontrolling interest distributed | 25% | |||||
EEGH | GT&S Transaction | Disposed of by means other than sale | Cove Point LNG, LP | ||||||
Business Acquisition [Line Items] | ||||||
Noncontrolling interest distributed | 50% | |||||
EEGH | Dominion Energy Questar Pipeline | Disposed of by means other than sale | ||||||
Business Acquisition [Line Items] | ||||||
Distribution of net assets | $ 699 | |||||
Distribution of net assets of subsidiary to affiliate | 41 | |||||
Contributions | 1,300 | |||||
EEGH | Dominion Energy Questar Pipeline | Disposed of by means other than sale | Goodwill | ||||||
Business Acquisition [Line Items] | ||||||
Distribution of net assets | 185 | |||||
EEGH | Dominion Energy Questar Pipeline | Disposed of by means other than sale | Pension plan asset | ||||||
Business Acquisition [Line Items] | ||||||
Distribution of net assets | 895 | |||||
EEGH | Dominion Energy Questar Pipeline | Disposed of by means other than sale | Affiliated Balances | ||||||
Business Acquisition [Line Items] | ||||||
Distribution of net assets | 107 | |||||
EEGH | Cove Point LNG, LP | Noncontrolling Interest | ||||||
Business Acquisition [Line Items] | ||||||
Increase in noncontrolling interest | $ 2,800 | |||||
EEGH | Cove Point LNG, LP | GT&S Transaction | Disposed of by means other than sale | ||||||
Business Acquisition [Line Items] | ||||||
Noncontrolling interest distributed | 50% | |||||
Dominion Energy, Inc. | Cove Point LNG, LP | ||||||
Business Acquisition [Line Items] | ||||||
Retained interest after disposal | 50% |
Business Acquisitions and Dis_3
Business Acquisitions and Dispositions - EGTS (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Nov. 30, 2020 | Jul. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | |||||
Contributions | $ 5 | $ 9 | |||
Distribution of net assets | $ 699 | ||||
EGTS | Disposed of by means other than sale | |||||
Business Acquisition [Line Items] | |||||
Amount of recovery forgone | $ 18 | ||||
EGTS | Disposed of by means other than sale | Deferred tax liability | |||||
Business Acquisition [Line Items] | |||||
Contributions | 1,000 | ||||
EGTS | Disposed of by means other than sale | Taxes payable | |||||
Business Acquisition [Line Items] | |||||
Contributions | 34 | ||||
EGTS | Disposed of by means other than sale | Pension plan asset | |||||
Business Acquisition [Line Items] | |||||
Distribution of net assets | $ 904 | 904 | |||
EGTS | Disposed of by means other than sale | Other pension related assets | |||||
Business Acquisition [Line Items] | |||||
Distribution of net assets | $ 107 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - BHE (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, net | $ 93,043 | $ 89,816 | $ 86,128 |
Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 111,087 | 107,646 | |
Accumulated depreciation and amortization | (34,599) | (32,680) | |
Property, plant and equipment, operating | 76,488 | 74,966 | |
Construction work-in-progress | 4,900 | 3,800 | |
Regulated assets | Utility generation, transmission and distribution systems | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 92,759 | 90,223 | |
Regulated assets | Utility generation, transmission and distribution systems | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 5 years | ||
Regulated assets | Utility generation, transmission and distribution systems | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 80 years | ||
Regulated assets | Interstate natural gas pipeline assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 18,328 | 17,423 | |
Regulated assets | Interstate natural gas pipeline assets | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 3 years | ||
Regulated assets | Interstate natural gas pipeline assets | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 80 years | ||
Nonregulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 14,650 | 13,695 | |
Accumulated depreciation and amortization | (3,452) | (3,041) | |
Property, plant and equipment, operating | 11,198 | 10,654 | |
Nonregulated assets | Independent power plants | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 8,545 | 7,665 | |
Nonregulated assets | Independent power plants | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 2 years | ||
Nonregulated assets | Independent power plants | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 50 years | ||
Nonregulated assets | LNG facility | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 3,412 | 3,364 | |
Depreciable life | 40 years | ||
Nonregulated assets | Other assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 2,693 | 2,666 | |
Nonregulated assets | Other assets | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 2 years | ||
Nonregulated assets | Other assets | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Depreciable life | 30 years | ||
Common Facilities | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, operating | $ 87,686 | 85,620 | |
Construction work-in-progress | 5,357 | 4,196 | |
Property, plant and equipment, net | $ 93,043 | $ 89,816 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 33,009 | $ 32,262 | |
Accumulated depreciation and amortization | (11,093) | (10,507) | |
Utility plant in-service, net | 21,916 | 21,755 | |
Utility plant in-service, net, excluding construction work-in-process | 21,934 | 21,773 | |
Construction work- in-progress | 2,496 | 1,141 | |
Property, plant and equipment, net | $ 24,430 | $ 22,914 | |
Depreciation and amortization rate | 3.50% | 3.50% | 4.10% |
Amount of acquisition adjustments | $ 156 | $ 156 | |
Acquisition adjustments, accumulated depreciation | $ 144 | 143 | |
Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 15 years | ||
Useful life, transmission | 60 years | ||
Useful life, distribution | 20 years | ||
Useful life, intangible asset | 5 years | ||
Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 59 years | ||
Useful life, transmission | 90 years | ||
Useful life, distribution | 75 years | ||
Useful life, intangible asset | 75 years | ||
Generation | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 13,726 | 13,679 | |
Transmission | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 8,051 | 7,894 | |
Distribution | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 8,477 | 8,044 | |
Intangible plant | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 2,755 | 2,645 | |
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 assets | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service, net, excluding construction work-in-process | $ 18 | $ 18 | |
Nonregulated assets | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, other | 14 years | ||
Nonregulated assets | 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 | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Utility plant in-service, net, excluding construction work-in-process | $ 20,301 | $ 19,201 | |
Property, plant and equipment, net | 21,091 | 20,301 | |
Revenue Sharing Arrangement, Anticipated Equity Returns Exceeding Threshold | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Regulatory liability, additions | $ 296 | $ 115 | $ 0 |
Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization rate | 3.20% | 3.30% | 3.20% |
Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization rate | 2.90% | 2.80% | 2.80% |
Regulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 28,319 | $ 26,571 | |
Accumulated depreciation and amortization | (8,024) | (7,376) | |
Utility plant in-service, net, excluding construction work-in-process | 20,295 | 19,195 | |
Construction work- in-progress | 790 | 1,100 | |
Regulated assets | Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Generation | 18,582 | 17,397 | |
Transmission | 2,662 | 2,474 | |
Distribution | 4,931 | 4,661 | |
Regulated assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Distribution | 2,144 | 2,039 | |
Nonregulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Utility plant in-service, net, excluding construction work-in-process | $ 6 | $ 6 | |
Minimum | Regulated assets | Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 20 years | ||
Useful life, transmission | 55 years | ||
Useful life, distribution | 15 years | ||
Minimum | Regulated assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 30 years | ||
Minimum | Nonregulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, other | 20 years | ||
Maximum | Regulated assets | Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 62 years | ||
Useful life, transmission | 80 years | ||
Useful life, distribution | 80 years | ||
Maximum | Regulated assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 75 years | ||
Maximum | Nonregulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, other | 50 years |
Property, Plant and Equipment_6
Property, Plant and Equipment, Net - LLC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Other | MidAmerican Funding, LLC | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 1 | $ 1 |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net - NPC (Details) - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service, net, excluding construction work-in-process | $ 6,921 | $ 6,647 | |
Construction work- in-progress | 485 | 244 | |
Property, plant and equipment, net | $ 7,406 | $ 6,891 | |
Depreciation and amortization rate | 3.10% | 3.20% | 3.10% |
Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Generation | $ 3,977 | $ 3,793 | |
Transmission | 1,562 | 1,503 | |
Distribution | 4,134 | 3,920 | |
General and intangible plant | 871 | 836 | |
Utility plant in-service | 10,544 | 10,052 | |
Accumulated depreciation and amortization | (3,624) | (3,406) | |
Utility plant in-service, net, excluding construction work-in-process | 6,920 | 6,646 | |
Nonregulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service, net, excluding construction work-in-process | $ 1 | $ 1 | |
Useful life, other | 45 years | ||
Minimum | Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 30 years | ||
Useful life, transmission | 45 years | ||
Useful life, distribution | 20 years | ||
Useful life, other | 5 years | ||
Maximum | Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 55 years | ||
Useful life, transmission | 70 years | ||
Useful life, distribution | 65 years | ||
Useful life, other | 65 years |
Property, Plant and Equipment_8
Property, Plant and Equipment, Net - SPPC (Details) - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Construction work- in-progress | $ 236 | $ 219 | |
Property, plant and equipment, net | $ 3,587 | $ 3,340 | |
Depreciation and amortization rate | 3% | 3.10% | 3.20% |
Regulated assets | Generation | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Generation | $ 1,298 | $ 1,163 | |
Transmission | 993 | 940 | |
Distribution | 1,983 | 1,846 | |
General and intangible plant | $ 219 | 204 | |
Regulated assets | Generation | Minimum | |||
Public Utility, 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 assets | Generation | Maximum | |||
Public Utility, 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 assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Distribution | $ 455 | 438 | |
General and intangible plant | $ 15 | 14 | |
Regulated assets | Natural gas | Minimum | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 35 years | ||
Useful life, other | 5 years | ||
Regulated assets | Natural gas | Maximum | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 70 years | ||
Useful life, other | 70 years | ||
Regulated assets | Common Facilities | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Common general | $ 380 | 370 | |
Utility plant in-service | 5,343 | 4,975 | |
Accumulated depreciation and amortization | (1,992) | (1,854) | |
Utility plant in-service, net, excluding construction work-in-process | $ 3,351 | $ 3,121 | |
Regulated assets | Common Facilities | Minimum | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, common general | 5 years | ||
Regulated assets | Common Facilities | Maximum | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, common general | 70 years |
Property, Plant and Equipment_9
Property, Plant and Equipment, Net - EEGH (Details) - EEGH - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service, net, excluding construction work-in-process | $ 10,001 | $ 9,961 |
Construction work- in-progress | 201 | 239 |
Property, plant and equipment, net | 10,202 | 10,200 |
Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 9,035 | 8,785 |
Accumulated depreciation and amortization | (3,039) | (2,901) |
Utility plant in-service, net, excluding construction work-in-process | 5,996 | 5,884 |
Construction work- in-progress | 181 | 209 |
Nonregulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 4,547 | 4,500 |
Accumulated depreciation and amortization | (542) | (423) |
Utility plant in-service, net, excluding construction work-in-process | 4,005 | 4,077 |
Interstate natural gas pipeline assets | Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 8,922 | 8,675 |
Interstate natural gas pipeline assets | Regulated assets | Minimum | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 21 years | |
Interstate natural gas pipeline assets | Regulated assets | Maximum | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 52 years | |
Intangible plant | Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 113 | 110 |
Intangible plant | Regulated assets | Minimum | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Intangible plant | Regulated assets | Maximum | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 18 years | |
Intangible plant | Nonregulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 14 years | |
Utility plant in-service | $ 25 | 25 |
LNG facility | Nonregulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Depreciable life | 40 years | |
Utility plant in-service | $ 4,522 | $ 4,475 |
Property, Plant and Equipmen_10
Property, Plant and Equipment, Net - EGTS (Details) - EGTS - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 6,803 | $ 6,591 |
Accumulated depreciation and amortization | (2,440) | (2,339) |
Utility plant in-service, net, excluding construction work-in-process | 4,363 | 4,252 |
Construction work- in-progress | 141 | 188 |
Property, plant and equipment, net | 4,504 | 4,440 |
Interstate natural gas pipeline assets | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 6,724 | 6,517 |
Interstate natural gas pipeline assets | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 28 years | |
Interstate natural gas pipeline assets | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 50 years | |
Intangible plant | ||
Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 79 | $ 74 |
Intangible plant | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 12 years | |
Intangible plant | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 20 years |
Jointly Owned Utility Facilit_3
Jointly Owned Utility Facilities (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Revenue sharing credits netted against facility in service | 733 |
Revenue sharing credits netted against accumulated depreciation | 150 |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,702 |
Accumulated depreciation | 2,534 |
Construction work in progress | $ 178 |
PAC | Jim Bridger Nos. 1-4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 67% |
Facility in service | $ 1,529 |
Accumulated depreciation | 914 |
Construction work in progress | $ 39 |
PAC | Hunter No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 94% |
Facility in service | $ 517 |
Accumulated depreciation | 227 |
Construction work in progress | $ 3 |
PAC | Hunter No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60% |
Facility in service | $ 305 |
Accumulated depreciation | 148 |
Construction work in progress | $ 6 |
PAC | Wyodak | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 80% |
Facility in service | $ 491 |
Accumulated depreciation | 273 |
Construction work in progress | $ 1 |
PAC | Colstrip Nos. 3 and 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 10% |
Facility in service | $ 262 |
Accumulated depreciation | 178 |
Construction work in progress | $ 0 |
PAC | Hermiston | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 189 |
Accumulated depreciation | 106 |
Construction work in progress | $ 0 |
PAC | Craig Nos. 1 and 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19% |
Facility in service | $ 372 |
Accumulated depreciation | 331 |
Construction work in progress | $ 0 |
PAC | Hayden No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25% |
Facility in service | $ 77 |
Accumulated depreciation | 52 |
Construction work in progress | $ 0 |
PAC | Hayden No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 13% |
Facility in service | $ 44 |
Accumulated depreciation | 31 |
Construction work in progress | 0 |
PAC | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 916 |
Accumulated depreciation | 274 |
Construction work in progress | 129 |
MidAmerican Energy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,533 |
Accumulated depreciation | 2,621 |
Construction work in progress | 82 |
MidAmerican Energy | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 267 |
Accumulated depreciation | 101 |
Construction work in progress | $ 2 |
MidAmerican Energy | Louisa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 88% |
Facility in service | $ 976 |
Accumulated depreciation | 511 |
Construction work in progress | $ 4 |
MidAmerican Energy | Quad Cities Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25% |
Facility in service | $ 730 |
Accumulated depreciation | 482 |
Construction work in progress | $ 11 |
MidAmerican Energy | Walter Scott, Jr. No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 79% |
Facility in service | $ 964 |
Accumulated depreciation | 624 |
Construction work in progress | $ 13 |
MidAmerican Energy | Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60% |
Facility in service | $ 171 |
Accumulated depreciation | 127 |
Construction work in progress | $ 7 |
MidAmerican Energy | George Neal No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 41% |
Facility in service | $ 321 |
Accumulated depreciation | 184 |
Construction work in progress | $ 6 |
MidAmerican Energy | Ottumwa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 52% |
Facility in service | $ 569 |
Accumulated depreciation | 280 |
Construction work in progress | $ 19 |
MidAmerican Energy | George Neal No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 72% |
Facility in service | $ 535 |
Accumulated depreciation | 312 |
Construction work in progress | 20 |
NV Energy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 621 |
Accumulated depreciation | 394 |
Construction work in progress | 4 |
NV Energy | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 60 |
Accumulated depreciation | 29 |
Construction work in progress | $ 1 |
NV Energy | Navajo | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 11% |
Facility in service | $ 1 |
Accumulated depreciation | 4 |
Construction work in progress | $ 0 |
NV Energy | Valmy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 399 |
Accumulated depreciation | 327 |
Construction work in progress | $ 2 |
NV Energy | On Line Transmission Line | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25% |
Facility in service | $ 161 |
Accumulated depreciation | 34 |
Construction work in progress | 1 |
BHE Pipeline Group | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 731 |
Accumulated depreciation | 330 |
Construction work in progress | $ 8 |
BHE Pipeline Group | Ellisburg Pool | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 39% |
Facility in service | $ 32 |
Accumulated depreciation | 11 |
Construction work in progress | $ 0 |
BHE Pipeline Group | Ellisburg Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 26 |
Accumulated depreciation | 8 |
Construction work in progress | $ 3 |
BHE Pipeline Group | Harrison | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 53 |
Accumulated depreciation | 18 |
Construction work in progress | $ 0 |
BHE Pipeline Group | Leidy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 143 |
Accumulated depreciation | 47 |
Construction work in progress | $ 1 |
BHE Pipeline Group | Oakford | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 202 |
Accumulated depreciation | 70 |
Construction work in progress | 4 |
BHE Pipeline Group | Common Facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 275 |
Accumulated depreciation | 176 |
Construction work in progress | $ 0 |
Jointly Owned Utility Facilit_4
Jointly Owned Utility Facilities - PAC (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,702 |
Accumulated depreciation | 2,534 |
Construction work in progress | $ 178 |
PAC | Jim Bridger Nos. 1-4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 67% |
Facility in service | $ 1,529 |
Accumulated depreciation | 914 |
Construction work in progress | $ 39 |
PAC | Hunter No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 94% |
Facility in service | $ 517 |
Accumulated depreciation | 227 |
Construction work in progress | $ 3 |
PAC | Hunter No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60% |
Facility in service | $ 305 |
Accumulated depreciation | 148 |
Construction work in progress | $ 6 |
PAC | Wyodak | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 80% |
Facility in service | $ 491 |
Accumulated depreciation | 273 |
Construction work in progress | $ 1 |
PAC | Colstrip Nos. 3 and 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 10% |
Facility in service | $ 262 |
Accumulated depreciation | 178 |
Construction work in progress | $ 0 |
PAC | Hermiston | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 189 |
Accumulated depreciation | 106 |
Construction work in progress | $ 0 |
PAC | Craig Nos. 1 and 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19% |
Facility in service | $ 372 |
Accumulated depreciation | 331 |
Construction work in progress | $ 0 |
PAC | Hayden No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25% |
Facility in service | $ 77 |
Accumulated depreciation | 52 |
Construction work in progress | $ 0 |
PAC | Hayden No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 13% |
Facility in service | $ 44 |
Accumulated depreciation | 31 |
Construction work in progress | 0 |
PAC | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 916 |
Accumulated depreciation | 274 |
Construction work in progress | $ 129 |
Jointly Owned Utility Facilit_5
Jointly Owned Utility Facilities - MEC (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Revenue sharing credits netted against facility in service | 733 |
Revenue sharing credits netted against accumulated depreciation | 150 |
MEC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,533 |
Accumulated depreciation | 2,621 |
Construction work in progress | $ 82 |
MEC | Louisa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 88% |
Facility in service | $ 976 |
Accumulated depreciation | 511 |
Construction work in progress | $ 4 |
MEC | Quad Cities Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25% |
Facility in service | $ 730 |
Accumulated depreciation | 482 |
Construction work in progress | $ 11 |
MEC | Walter Scott, Jr. No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 79% |
Facility in service | $ 964 |
Accumulated depreciation | 624 |
Construction work in progress | $ 13 |
MEC | Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60% |
Facility in service | $ 171 |
Accumulated depreciation | 127 |
Construction work in progress | $ 7 |
MEC | George Neal No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 41% |
Facility in service | $ 321 |
Accumulated depreciation | 184 |
Construction work in progress | $ 6 |
MEC | Ottumwa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 52% |
Facility in service | $ 569 |
Accumulated depreciation | 280 |
Construction work in progress | $ 19 |
MEC | George Neal No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 72% |
Facility in service | $ 535 |
Accumulated depreciation | 312 |
Construction work in progress | 20 |
MEC | Transmission facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 267 |
Accumulated depreciation | 101 |
Construction work in progress | $ 2 |
Jointly Owned Utility Facilit_6
Jointly Owned Utility Facilities - NPC (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
NPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 178 |
Accumulated depreciation | 57 |
Construction work in progress | $ 1 |
NPC | Navajo | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 11% |
Facility in service | $ 1 |
Accumulated depreciation | 4 |
Construction work in progress | $ 0 |
NPC | Other | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19% |
Facility in service | $ 121 |
Accumulated depreciation | 26 |
Construction work in progress | 1 |
NPC | Other transmission facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 56 |
Accumulated depreciation | 27 |
Construction work in progress | $ 0 |
Jointly Owned Utility Facilit_7
Jointly Owned Utility Facilities - SPPC (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
SPPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 443 |
Accumulated depreciation | 337 |
Construction work in progress | $ 3 |
SPPC | Valmy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 399 |
Accumulated depreciation | 327 |
Construction work in progress | $ 2 |
SPPC | Other | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 6% |
Facility in service | $ 40 |
Accumulated depreciation | 8 |
Construction work in progress | $ 0 |
SPPC | Valmy Transmission | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 4 |
Accumulated depreciation | 2 |
Construction work in progress | $ 1 |
Jointly Owned Utility Facilit_8
Jointly Owned Utility Facilities - EEGH (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 456 |
Accumulated depreciation | 154 |
Construction work in progress | $ 8 |
Ellisburg Pool | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 39% |
Facility in service | $ 32 |
Accumulated depreciation | 11 |
Construction work in progress | $ 0 |
Ellisburg Station | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 26 |
Accumulated depreciation | 8 |
Construction work in progress | $ 3 |
Harrison | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 53 |
Accumulated depreciation | 18 |
Construction work in progress | $ 0 |
Leidy | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 143 |
Accumulated depreciation | 47 |
Construction work in progress | $ 1 |
Oakford | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 202 |
Accumulated depreciation | 70 |
Construction work in progress | $ 4 |
Tioga | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 56% |
Facility in service | $ 69 |
Accumulated depreciation | 30 |
Construction work in progress | $ 2 |
Jointly Owned Utility Facilit_9
Jointly Owned Utility Facilities - EGTS (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,587 |
Accumulated depreciation | 5,879 |
Construction work in progress | 272 |
EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 456 |
Accumulated depreciation | 154 |
Construction work in progress | $ 8 |
Ellisburg Pool | EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 39% |
Facility in service | $ 32 |
Accumulated depreciation | 11 |
Construction work in progress | $ 0 |
Ellisburg Station | EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 26 |
Accumulated depreciation | 8 |
Construction work in progress | $ 3 |
Harrison | EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 53 |
Accumulated depreciation | 18 |
Construction work in progress | $ 0 |
Leidy | EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 143 |
Accumulated depreciation | 47 |
Construction work in progress | $ 1 |
Oakford | EGTS | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50% |
Facility in service | $ 202 |
Accumulated depreciation | 70 |
Construction work in progress | $ 4 |
Leases - Schedule of Operating
Leases - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets: | ||
Operating leases | $ 545 | $ 524 |
Finance leases | 418 | 448 |
Total right-of-use assets | $ 963 | $ 972 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Lease liabilities: | ||
Operating leases | $ 605 | $ 577 |
Finance leases | 432 | 463 |
Total lease liabilities | $ 1,037 | $ 1,040 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Variable | $ 552 | $ 611 | $ 592 |
Operating | 136 | 161 | 151 |
Finance lease, amortization | 20 | 23 | 18 |
Finance lease, interest expense | 36 | 38 | 40 |
Short-term | 44 | 15 | 20 |
Total lease costs | $ 788 | $ 848 | $ 821 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 4 months 24 days | 7 years 7 months 6 days | 7 years 4 months 24 days |
Finance leases | 28 years 1 month 6 days | 28 years 1 month 6 days | 27 years 6 months |
Weighted-average discount rate: | |||
Operating leases | 4.10% | 4.30% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.50% |
Leases - Schedule of Operatin_2
Leases - Schedule of Operating and Finance Lease, Supplemental Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Operating cash flows from operating leases | $ (141) | $ (163) | $ (152) |
Operating cash flows from finance leases | (36) | (38) | (40) |
Financing cash flows from finance leases | (25) | (28) | (24) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 131 | 119 | 83 |
Finance leases | $ 3 | $ 2 | $ 19 |
Leases - Schedule of Lease Matu
Leases - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating | ||
2023 | $ 158 | |
2024 | 126 | |
2025 | 101 | |
2026 | 78 | |
2027 | 53 | |
Thereafter | 189 | |
Total undiscounted lease payments | 705 | |
Less - amounts representing interest | (100) | |
Operating leases | 605 | $ 577 |
Finance | ||
2023 | 63 | |
2024 | 62 | |
2025 | 61 | |
2026 | 60 | |
2027 | 56 | |
Thereafter | 559 | |
Total undiscounted lease payments | 861 | |
Less - amounts representing interest | (429) | |
Finance leases | 432 | 463 |
Total | ||
2023 | 221 | |
2024 | 188 | |
2025 | 162 | |
2026 | 138 | |
2027 | 109 | |
Thereafter | 748 | |
Total undiscounted lease payments | 1,566 | |
Less - amounts representing interest | (529) | |
Total lease liabilities | $ 1,037 | $ 1,040 |
Leases - PAC - Schedule of Oper
Leases - PAC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets: | ||
Operating leases | $ 545 | $ 524 |
Finance leases | 418 | 448 |
Total right-of-use assets | $ 963 | $ 972 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 605 | $ 577 |
Finance leases | 432 | 463 |
Total lease liabilities | $ 1,037 | $ 1,040 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
PAC | ||
Right-of-use assets: | ||
Operating leases | $ 11 | $ 11 |
Finance leases | 9 | 11 |
Total right-of-use assets | $ 20 | $ 22 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 11 | $ 11 |
Finance leases | 11 | 12 |
Total lease liabilities | $ 22 | $ 23 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Leases - PAC - Schedule of Leas
Leases - PAC - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 552 | $ 611 | $ 592 |
Operating | 136 | 161 | 151 |
Finance lease, amortization | 20 | 23 | 18 |
Finance lease, interest expense | 36 | 38 | 40 |
Short-term | 44 | 15 | 20 |
Total lease costs | $ 788 | $ 848 | $ 821 |
Weighted-average remaining lease term (years): | |||
Finance leases | 28 years 1 month 6 days | 28 years 1 month 6 days | 27 years 6 months |
Operating leases | 4.10% | 4.30% | 4.50% |
Weighted-average discount rate: | |||
Finance leases | 8.60% | 8.60% | 8.50% |
Operating leases | 7 years 4 months 24 days | 7 years 7 months 6 days | 7 years 4 months 24 days |
PAC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 61 | $ 56 | $ 60 |
Operating | 3 | 3 | 3 |
Finance lease, amortization | 1 | 5 | 2 |
Finance lease, interest expense | 1 | 2 | 2 |
Short-term | 5 | 3 | 1 |
Total lease costs | $ 71 | $ 69 | $ 68 |
Weighted-average remaining lease term (years): | |||
Finance leases | 9 years 8 months 12 days | 10 years 1 month 6 days | 8 years 4 months 24 days |
Operating leases | 3.90% | 3.70% | 3.80% |
Weighted-average discount rate: | |||
Finance leases | 11.40% | 11.10% | 10.50% |
Operating leases | 11 years 4 months 24 days | 12 years 8 months 12 days | 13 years 10 months 24 days |
Leases - PAC - Schedule of Le_2
Leases - PAC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating | ||
2023 | $ 158 | |
2024 | 126 | |
2025 | 101 | |
2026 | 78 | |
2027 | 53 | |
Thereafter | 189 | |
Total undiscounted lease payments | 705 | |
Less - amounts representing interest | (100) | |
Operating leases | 605 | $ 577 |
Finance | ||
2023 | 63 | |
2024 | 62 | |
2025 | 61 | |
2026 | 60 | |
2027 | 56 | |
Thereafter | 559 | |
Total undiscounted lease payments | 861 | |
Less - amounts representing interest | (429) | |
Finance leases | 432 | 463 |
Total | ||
2023 | 221 | |
2024 | 188 | |
2025 | 162 | |
2026 | 138 | |
2027 | 109 | |
Thereafter | 748 | |
Total undiscounted lease payments | 1,566 | |
Less - amounts representing interest | (529) | |
Total lease liabilities | 1,037 | 1,040 |
PAC | ||
Operating | ||
2023 | 3 | |
2024 | 2 | |
2025 | 2 | |
2026 | 1 | |
2027 | 1 | |
Thereafter | 5 | |
Total undiscounted lease payments | 14 | |
Less - amounts representing interest | (3) | |
Operating leases | 11 | 11 |
Finance | ||
2023 | 2 | |
2024 | 2 | |
2025 | 2 | |
2026 | 2 | |
2027 | 2 | |
Thereafter | 8 | |
Total undiscounted lease payments | 18 | |
Less - amounts representing interest | (7) | |
Finance leases | 11 | 12 |
Total | ||
2023 | 5 | |
2024 | 4 | |
2025 | 4 | |
2026 | 3 | |
2027 | 3 | |
Thereafter | 13 | |
Total undiscounted lease payments | 32 | |
Less - amounts representing interest | (10) | |
Total lease liabilities | $ 22 | $ 23 |
Leases - NPC - Schedule of Oper
Leases - NPC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets: | ||
Operating leases | $ 545 | $ 524 |
Finance leases | 418 | 448 |
Total right-of-use assets | $ 963 | $ 972 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 605 | $ 577 |
Finance leases | 432 | 463 |
Total lease liabilities | $ 1,037 | $ 1,040 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
NPC | ||
Right-of-use assets: | ||
Operating leases | $ 9 | $ 10 |
Finance leases | 303 | 326 |
Total right-of-use assets | $ 312 | $ 336 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 11 | $ 13 |
Finance leases | 313 | 336 |
Total lease liabilities | $ 324 | $ 349 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Leases - NPC - Schedule of Leas
Leases - NPC - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 552 | $ 611 | $ 592 |
Operating | 136 | 161 | 151 |
Finance lease, amortization | 20 | 23 | 18 |
Finance lease, interest expense | 36 | 38 | 40 |
Total lease costs | $ 788 | $ 848 | $ 821 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 4 months 24 days | 7 years 7 months 6 days | 7 years 4 months 24 days |
Finance leases | 28 years 1 month 6 days | 28 years 1 month 6 days | 27 years 6 months |
Weighted-average discount rate: | |||
Operating leases | 4.10% | 4.30% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.50% |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 369 | $ 449 | $ 434 |
Operating | 2 | 2 | 3 |
Finance lease, amortization | 14 | 13 | 12 |
Finance lease, interest expense | 27 | 28 | 29 |
Total lease costs | $ 412 | $ 492 | $ 478 |
Weighted-average remaining lease term (years): | |||
Operating leases | 4 years 9 months 18 days | 5 years 8 months 12 days | 6 years 6 months |
Finance leases | 29 years 1 month 6 days | 28 years 8 months 12 days | 28 years 8 months 12 days |
Weighted-average discount rate: | |||
Operating leases | 4.50% | 4.50% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.60% |
Leases - NPC - Schedule of Op_2
Leases - NPC - Schedule of Operating and Finance Lease, Supplemental Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ (141) | $ (163) | $ (152) |
Operating cash flows from finance leases | (36) | (38) | (40) |
Financing cash flows from finance leases | (25) | (28) | (24) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 131 | 119 | 83 |
Finance leases | 3 | 2 | 19 |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | (3) | (3) | (3) |
Operating cash flows from finance leases | (28) | (29) | (34) |
Financing cash flows from finance leases | (17) | (16) | (15) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 0 | 0 | 1 |
Finance leases | $ 3 | $ 1 | $ 9 |
Leases - NPC - Schedule of Le_2
Leases - NPC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating | ||
2023 | $ 158 | |
2024 | 126 | |
2025 | 101 | |
2026 | 78 | |
2027 | 53 | |
Thereafter | 189 | |
Total undiscounted lease payments | 705 | |
Less - amounts representing interest | (100) | |
Operating leases | 605 | $ 577 |
Finance | ||
2023 | 63 | |
2024 | 62 | |
2025 | 61 | |
2026 | 60 | |
2027 | 56 | |
Thereafter | 559 | |
Total undiscounted lease payments | 861 | |
Less - amounts representing interest | (429) | |
Finance leases | 432 | 463 |
Total | ||
2023 | 221 | |
2024 | 188 | |
2025 | 162 | |
2026 | 138 | |
2027 | 109 | |
Thereafter | 748 | |
Total undiscounted lease payments | 1,566 | |
Less - amounts representing interest | (529) | |
Total lease liabilities | 1,037 | 1,040 |
NPC | ||
Operating | ||
2023 | 2 | |
2024 | 3 | |
2025 | 3 | |
2026 | 3 | |
2027 | 2 | |
Thereafter | 0 | |
Total undiscounted lease payments | 13 | |
Less - amounts representing interest | (2) | |
Operating leases | 11 | 13 |
Finance | ||
2023 | 44 | |
2024 | 44 | |
2025 | 43 | |
2026 | 44 | |
2027 | 42 | |
Thereafter | 414 | |
Total undiscounted lease payments | 631 | |
Less - amounts representing interest | (318) | |
Finance leases | 313 | 336 |
Total | ||
2023 | 46 | |
2024 | 47 | |
2025 | 46 | |
2026 | 47 | |
2027 | 44 | |
Thereafter | 414 | |
Total undiscounted lease payments | 644 | |
Less - amounts representing interest | (320) | |
Total lease liabilities | $ 324 | $ 349 |
Leases - NPC - Narrative (Detai
Leases - NPC - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 1999 | |
NPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining share ownership, transmission tine project | 75% | |||
ON Line financing lease obligation | $ 276 | $ 286 | ||
SPPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining share ownership, transmission tine project | 75% | |||
Finance lease term | 50 years | |||
ON Line financing lease obligation | $ 107 | $ 110 | ||
Other | Nevada Utilities | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 25% | |||
Other | NPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 95% | 75% | ||
Finance lease term | 41 years | |||
Other | SPPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 5% | 25% | ||
Finance lease term | 41 years |
Leases - SPPC - Schedule of Ope
Leases - SPPC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets: | ||
Operating leases | $ 545 | $ 524 |
Finance lease right of use assets, net | 418 | 448 |
Total right-of-use assets | $ 963 | $ 972 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 605 | $ 577 |
Finance leases | 432 | 463 |
Total lease liabilities | $ 1,037 | $ 1,040 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
SPPC | ||
Right-of-use assets: | ||
Operating leases | $ 16 | $ 15 |
Finance lease right of use assets, net | 105 | 111 |
Total right-of-use assets | $ 121 | $ 126 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Finance lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 15 | $ 15 |
Finance leases | 108 | 115 |
Total lease liabilities | $ 123 | $ 130 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Leases - SPPC - Schedule of Lea
Leases - SPPC - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 552 | $ 611 | $ 592 |
Operating | 136 | 161 | 151 |
Finance lease, amortization | 20 | 23 | 18 |
Finance lease, interest expense | 36 | 38 | 40 |
Total lease costs | $ 788 | $ 848 | $ 821 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 4 months 24 days | 7 years 7 months 6 days | 7 years 4 months 24 days |
Finance leases | 28 years 1 month 6 days | 28 years 1 month 6 days | 27 years 6 months |
Weighted-average discount rate: | |||
Operating leases | 4.10% | 4.30% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.50% |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 103 | $ 86 | $ 78 |
Operating | 1 | 1 | 2 |
Finance lease, amortization | 5 | 5 | 4 |
Finance lease, interest expense | 8 | 9 | 9 |
Total lease costs | $ 117 | $ 101 | $ 93 |
Weighted-average remaining lease term (years): | |||
Operating leases | 26 years | 27 years 4 months 24 days | 27 years 2 months 12 days |
Finance leases | 28 years 2 months 12 days | 28 years 4 months 24 days | 27 years 9 months 18 days |
Weighted-average discount rate: | |||
Operating leases | 5% | 5% | 5% |
Finance leases | 8.40% | 8.20% | 8.10% |
Leases - SPPC - Schedule of O_2
Leases - SPPC - Schedule of Operating and Finance Lease, Supplemental Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ (141) | $ (163) | $ (152) |
Operating cash flows from finance leases | (36) | (38) | (40) |
Financing cash flows from finance leases | (25) | (28) | (24) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 131 | 119 | 83 |
Finance leases | 3 | 2 | 19 |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | (1) | (1) | (2) |
Operating cash flows from finance leases | (9) | (9) | (6) |
Financing cash flows from finance leases | (7) | (7) | (5) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 1 | 0 | 0 |
Finance leases | $ 1 | $ 1 | $ 89 |
Leases - SPPC - Schedule of L_2
Leases - SPPC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating | ||
2023 | $ 158 | |
2024 | 126 | |
2025 | 101 | |
2026 | 78 | |
2027 | 53 | |
Thereafter | 189 | |
Total undiscounted lease payments | 705 | |
Less - amounts representing interest | (100) | |
Operating leases | 605 | $ 577 |
Finance | ||
2023 | 63 | |
2024 | 62 | |
2025 | 61 | |
2026 | 60 | |
2027 | 56 | |
Thereafter | 559 | |
Total undiscounted lease payments | 861 | |
Less - amounts representing interest | (429) | |
Finance leases | 432 | 463 |
Total | ||
2023 | 221 | |
2024 | 188 | |
2025 | 162 | |
2026 | 138 | |
2027 | 109 | |
Thereafter | 748 | |
Total undiscounted lease payments | 1,566 | |
Less - amounts representing interest | (529) | |
Total lease liabilities | 1,037 | 1,040 |
SPPC | ||
Operating | ||
2023 | 1 | |
2024 | 1 | |
2025 | 1 | |
2026 | 1 | |
2027 | 1 | |
Thereafter | 23 | |
Total undiscounted lease payments | 28 | |
Less - amounts representing interest | (13) | |
Operating leases | 15 | 15 |
Finance | ||
2023 | 16 | |
2024 | 15 | |
2025 | 16 | |
2026 | 15 | |
2027 | 13 | |
Thereafter | 137 | |
Total undiscounted lease payments | 212 | |
Less - amounts representing interest | (104) | |
Finance leases | 108 | 115 |
Total | ||
2023 | 17 | |
2024 | 16 | |
2025 | 17 | |
2026 | 16 | |
2027 | 14 | |
Thereafter | 160 | |
Total undiscounted lease payments | 240 | |
Less - amounts representing interest | (117) | |
Total lease liabilities | $ 123 | $ 130 |
Leases - SPPC - Narrative (Deta
Leases - SPPC - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 1999 | |
SPPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining share ownership, transmission tine project | 75% | |||
Finance lease term | 50 years | |||
ON Line financing lease obligation | $ 107 | $ 110 | ||
NPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Remaining share ownership, transmission tine project | 75% | |||
ON Line financing lease obligation | $ 276 | $ 286 | ||
Other | Nevada Utilities | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 25% | |||
Other | SPPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 5% | 25% | ||
Finance lease term | 41 years | |||
Other | NPC | ||||
Lessee, Lease, Description [Line Items] | ||||
Utilities aggregate share ownership, transmission line project | 95% | 75% | ||
Finance lease term | 41 years |
Leases - EGTS - Schedule of Ope
Leases - EGTS - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use assets: | ||
Operating leases | $ 545 | $ 524 |
Total right-of-use assets | $ 963 | $ 972 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 605 | $ 577 |
Total lease liabilities | $ 1,037 | $ 1,040 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
EGTS | ||
Right-of-use assets: | ||
Operating leases | $ 19 | $ 20 |
Total right-of-use assets | $ 19 | $ 20 |
Operating lease right-of-use asset, statement of financial position | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 18 | $ 18 |
Total lease liabilities | $ 18 | $ 18 |
Operating lease liability, statement of financial position | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Leases - EGTS - Schedule of Lea
Leases - EGTS - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Operating | $ 136 | $ 161 | $ 151 |
Short-term | 44 | 15 | 20 |
Total lease costs | $ 788 | $ 848 | $ 821 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 4 months 24 days | 7 years 7 months 6 days | 7 years 4 months 24 days |
Finance leases | 28 years 1 month 6 days | 28 years 1 month 6 days | 27 years 6 months |
Weighted-average discount rate: | |||
Operating leases | 4.10% | 4.30% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.50% |
EGTS | |||
Lessee, Lease, Description [Line Items] | |||
Operating | $ 2 | $ 3 | $ 6 |
Short-term | 0 | 0 | 3 |
Total lease costs | $ 2 | $ 3 | $ 9 |
Weighted-average remaining lease term (years): | |||
Operating leases | 13 years 8 months 12 days | 14 years 8 months 12 days | 11 years 8 months 12 days |
Finance leases | 0 years | 0 years | 4 years 7 months 6 days |
Weighted-average discount rate: | |||
Operating leases | 4.30% | 4.30% | 4.40% |
Finance leases | 0% | 0% | 2.60% |
Leases - EGTS - Schedule of O_2
Leases - EGTS - Schedule of Operating and Finance Lease, Supplemental Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ 141 | $ 163 | $ 152 |
Operating cash flows from finance leases | 36 | 38 | 40 |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Finance leases | 3 | 2 | 19 |
EGTS | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | 2 | 3 | 9 |
Operating cash flows from finance leases | 0 | 1 | 0 |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Finance leases | $ 0 | $ 0 | $ 1 |
Leases - EGTS- Schedule of Oper
Leases - EGTS- Schedule of Operating Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating | ||
2023 | $ 158 | |
2024 | 126 | |
2025 | 101 | |
2026 | 78 | |
2027 | 53 | |
Thereafter | 189 | |
Total undiscounted lease payments | 705 | |
Less - amounts representing interest | (100) | |
Operating leases | 605 | $ 577 |
EGTS | ||
Operating | ||
2023 | 2 | |
2024 | 2 | |
2025 | 2 | |
2026 | 2 | |
2027 | 2 | |
Thereafter | 14 | |
Total undiscounted lease payments | 24 | |
Less - amounts representing interest | (6) | |
Operating leases | $ 18 | $ 18 |
Regulatory Matters - Regulatory
Regulatory Matters - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | $ 2,300 | 1,800 |
Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 1,478 | 531 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Total regulatory assets | $ 835 | 742 |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 490 | 472 |
Deferred income taxes | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 373 | 342 |
Asset disposition costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 231 | 285 |
Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 224 | 211 |
Levelized depreciation | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 28 years | |
Total regulatory assets | $ 151 | 135 |
Unrealized losses on regulated derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 112 | 157 |
Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 30 years | |
Total regulatory assets | $ 111 | 108 |
Wildfire mitigation and vegetation management costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 111 | 21 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 83 | 103 |
Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 863 | $ 856 |
Regulatory Matters - Regulato_2
Regulatory Matters - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities, noncurrent | 7,070 | 6,960 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 2,901 | 3,185 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
Revenue sharing mechanisms | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 2 years | |
Total regulatory liabilities | $ 426 | 188 |
Unrealized gains on regulated derivative contracts | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 1 year | |
Total regulatory liabilities | $ 343 | 86 |
Asset retirement obligations | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 31 years | |
Total regulatory liabilities | $ 250 | 345 |
Levelized depreciation | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 28 years | |
Total regulatory liabilities | $ 245 | 259 |
Employee benefit plans | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 180 | 243 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 446 | $ 484 |
Regulatory Matters - PAC - Regu
Regulatory Matters - PAC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | $ 2,300 | 1,800 |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 490 | 472 |
Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 1,478 | 531 |
Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 30 years | |
Total regulatory assets | $ 111 | 108 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Total regulatory assets | $ 835 | 742 |
Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 224 | 211 |
Wildfire mitigation and vegetation management costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 111 | 21 |
PAC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 1,880 | 1,352 |
Regulatory assets, current | 275 | 65 |
Regulatory assets, noncurrent | 1,605 | 1,287 |
Regulatory assets not earning a return on investment | $ 1,200 | 723 |
PAC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 16 years | |
Total regulatory assets | $ 290 | 286 |
PAC | Utah mine disposition | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 115 | 116 |
PAC | Unamortized contract values | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 18 | 36 |
PAC | Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 2 years | |
Total regulatory assets | $ 546 | 151 |
PAC | Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 30 years | |
Total regulatory assets | $ 111 | 108 |
PAC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 29 years | |
Total regulatory assets | $ 275 | 241 |
PAC | Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 224 | 211 |
PAC | Wildfire mitigation and vegetation management costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 111 | 21 |
PAC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 190 | $ 182 |
Regulatory Matters - PAC - Re_2
Regulatory Matters - PAC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities, noncurrent | $ 7,070 | 6,960 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,901 | 3,185 |
PAC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,939 | 2,768 |
Regulatory liabilities, current | 96 | 118 |
Regulatory liabilities, noncurrent | $ 2,843 | 2,650 |
PAC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 1,332 | 1,187 |
Regulatory liabilities, noncurrent | 1,332 | 1,187 |
PAC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 1,164 | 1,307 |
PAC | Unrealized gain on regulated derivatives | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 1 year | |
Total regulatory liabilities | $ 270 | 53 |
PAC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 173 | $ 221 |
Regulatory Matters - MEC - Regu
Regulatory Matters - MEC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 3,743 | $ 3,419 |
Regulatory assets not earning a return on investment | $ 2,300 | 1,800 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
MEC | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 550 | 473 |
Regulatory assets not earning a return on investment | $ 548 | 470 |
MEC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 9 years | |
Regulatory assets | $ 469 | 393 |
MEC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Regulatory assets | $ 47 | 42 |
MEC | Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 34 | $ 38 |
Regulatory Matters - MEC - Re_2
Regulatory Matters - MEC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Feb. 28, 2021 | |
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 7,070 | $ 6,960 | |
Cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 27 years | ||
Revenue sharing mechanisms | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 2 years | ||
Asset retirement obligations | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 31 years | ||
MEC | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 1,119 | 1,080 | |
Adjustment clause, under (over) collection in receivables | $ 156 | 230 | $ 245 |
MEC | Cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 29 years | ||
Regulatory liabilities | $ 392 | 394 | |
MEC | Revenue sharing mechanisms | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 1 year | ||
Regulatory liabilities | $ 312 | 115 | |
MEC | Asset retirement obligations | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 31 years | ||
Regulatory liabilities | $ 247 | 341 | |
MEC | Deferred income taxes | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 72 | 83 | |
MEC | Pre-funded AFUDC on transmission MVPs | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 57 years | ||
Regulatory liabilities | $ 34 | 34 | |
MEC | Unrealized gain on regulated derivatives | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 1 year | ||
Regulatory liabilities | $ 31 | 26 | |
MEC | Employee benefit plans | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | 0 | 55 | |
MEC | Other | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 31 | $ 32 |
Regulatory Matters - NPC - Regu
Regulatory Matters - NPC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | $ 2,300 | 1,800 |
Unrealized losses on regulated derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 112 | 157 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Total regulatory assets | $ 835 | 742 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 83 | 103 |
NPC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 1,294 | 1,019 |
Regulatory assets, current | 666 | 291 |
Regulatory assets, noncurrent | 628 | 728 |
Regulatory assets not earning a return on investment | $ 320 | 371 |
NPC | Deferred energy costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 654 | 273 |
NPC | Decommissioning costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 3 years | |
Total regulatory assets | $ 116 | 169 |
NPC | Merger costs from 1999 merger | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 22 years | |
Total regulatory assets | $ 105 | 110 |
NPC | Unrealized losses on regulated derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 75 | 117 |
NPC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 5 years | |
Total regulatory assets | $ 69 | 73 |
NPC | Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 13 years | |
Total regulatory assets | $ 67 | 93 |
NPC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 208 | $ 184 |
Regulatory Matters - NPC - Re_2
Regulatory Matters - NPC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities | $ 7,070 | 6,960 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 446 | 484 |
NPC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 1,138 | 1,149 |
Regulatory liabilities, current | 45 | 49 |
Regulatory liabilities | 1,093 | 1,100 |
NPC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 560 | 603 |
NPC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 31 years | |
Total regulatory liabilities | $ 358 | 348 |
NPC | Earning sharing mechanism | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 4 years | |
Total regulatory liabilities | $ 114 | 73 |
NPC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 106 | $ 125 |
Regulatory Matters - SPPC - Reg
Regulatory Matters - SPPC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | $ 2,300 | 1,800 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 83 | 103 |
Unrealized losses on regulated derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 112 | 157 |
SPPC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 611 | 440 |
Regulatory assets, current | 357 | 177 |
Regulatory assets, noncurrent | 254 | 263 |
Regulatory assets not earning a return on investment | $ 143 | 158 |
SPPC | Deferred energy costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 277 | 107 |
SPPC | Natural disaster protection plan | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 69 | 62 |
SPPC | Merger costs from 1999 merger | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 24 years | |
Total regulatory assets | $ 63 | 66 |
SPPC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 8 years | |
Total regulatory assets | $ 57 | 46 |
SPPC | Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 7 years | |
Total regulatory assets | $ 35 | 31 |
SPPC | Unrealized losses on regulated derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 21 | 35 |
SPPC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 89 | $ 93 |
Regulatory Matters - SPPC - R_2
Regulatory Matters - SPPC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities, noncurrent | $ 7,070 | 6,960 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 446 | 484 |
SPPC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 455 | 463 |
Regulatory liabilities, current | 19 | 19 |
Regulatory liabilities, noncurrent | 436 | 444 |
SPPC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 223 | 234 |
SPPC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 35 years | |
Total regulatory liabilities | $ 200 | 201 |
SPPC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 32 | $ 28 |
Regulatory Matters - SPPC - Nar
Regulatory Matters - SPPC - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | |||
Dec. 31, 2022 | Aug. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory assets not earning a return on investment | $ 2,300 | $ 1,800 | ||
SPPC | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory assets not earning a return on investment | 143 | $ 158 | ||
SPPC | PUCN | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Requested rate increase (decrease) | $ 88 | |||
Requested rate increase (decrease), percentage | 9.70% | |||
Requested rate increase, amended | $ 77 | |||
Requested rate increase, amended, percentage | 8.50% | |||
Approved rate increase (decrease) | $ 58 |
Regulatory Matters - EEGH - Reg
Regulatory Matters - EEGH - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | 2,300 | 1,800 |
EEGH | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 48 | 74 |
Regulatory assets, current | 8 | 6 |
Regulatory assets, noncurrent | 40 | 68 |
Regulatory assets not earning a return on investment | $ 44 | 8 |
EEGH | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 11 years | |
Total regulatory assets | $ 32 | 62 |
EEGH | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 16 | $ 12 |
Regulatory Matters - EEGH - R_2
Regulatory Matters - EEGH - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities, noncurrent | 7,070 | 6,960 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,901 | 3,185 |
Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 180 | 243 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
EEGH | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 722 | 685 |
Regulatory liabilities, current | 126 | 40 |
Regulatory liabilities, noncurrent | 596 | 645 |
EEGH | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 406 | 468 |
EEGH | Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 123 | 116 |
EEGH | Provision for rate refunds | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 90 | 0 |
EEGH | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 53 years | |
Total regulatory liabilities | $ 82 | 73 |
Regulatory liabilities, noncurrent | 82 | 73 |
EEGH | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 21 | $ 28 |
Regulatory Matters - EEGH - Oth
Regulatory Matters - EEGH - Other Regulatory Matters (Details) dekathermPerDay in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 8 Months Ended | ||||||||
Aug. 01, 2020 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jan. 31, 2020 USD ($) | Dec. 31, 2014 dekathermPerDay | Jun. 30, 2021 USD ($) | Oct. 31, 2020 USD ($) | Sep. 30, 2020 USD ($) | Jun. 30, 2020 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Regulatory Liabilities [Line Items] | |||||||||||
Regulatory liabilities | $ 7,369 | $ 7,214 | |||||||||
Asset retirement obligations | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Regulatory liabilities | 250 | 345 | |||||||||
EGTS | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Provision for rate refunds | 90 | ||||||||||
Regulatory liabilities | 627 | 532 | |||||||||
Property, plant and equipment, net | 4,504 | $ 4,440 | |||||||||
EGTS | FERC Case, Disallowance Of Capitalized AFUDC, Resolved In December 2020 | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Litigation settlement, expense | $ 43 | ||||||||||
Litigation settlement, expense, after-tax | $ 31 | ||||||||||
Litigation settlement, reduction in expense | $ 11 | ||||||||||
Litigation settlement, reduction in expense, after tax | $ 8 | ||||||||||
EGTS | Cancellation Of Atlantic Coast Pipeline Project | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Impairment of assets | $ 482 | ||||||||||
Impairment of assets, after-tax | 359 | ||||||||||
EGTS | Atlantic Coast Pipeline Project, Available For Potential Modified Project | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Impairment of assets | $ 10 | ||||||||||
Impairment of assets, after-tax | 7 | ||||||||||
Benefit from ARO revision | 29 | ||||||||||
Benefit from ARO revision, after-tax | $ 20 | ||||||||||
Property, plant and equipment, net | 40 | ||||||||||
EGTS | FERC | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Firm transportation service (Dth per day) | dekathermPerDay | 1.5 | ||||||||||
EGTS | FERC | General Rate Case | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Requested rate increase (decrease) | $ 1,100 | ||||||||||
EGTS | FERC | General Rate Case | Natural Gas, Storage | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Requested rate increase (decrease), percentage | 85% | ||||||||||
EGTS | FERC | General Rate Case | Natural Gas, Gathering, Transportation, Marketing and Processing | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Requested rate increase (decrease), percentage | 60% | ||||||||||
EGTS | FERC | General Rate Case, Transportation and Storage Revenues | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Approved rate increase (decrease) | 160 | ||||||||||
EGTS | FERC | General Rate Case, Depreciation Expense | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Approved rate increase (decrease) | $ (30) | ||||||||||
EGTS | Asset retirement obligations | Atlantic Coast Pipeline Project, Available For Potential Modified Project | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Regulatory liabilities | $ 75 | ||||||||||
Cove Point LNG, LP | FERC | General Rate Case | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Requested rate increase (decrease) | $ 182 | ||||||||||
Cove Point LNG, LP | FERC | General Rate Case, Increase In Revenue | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Approved rate increase (decrease) | $ 4 | ||||||||||
Cove Point LNG, LP | FERC | General Rate Case, Decrease In Depreciation Expense | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Approved rate increase (decrease) | $ (1) | ||||||||||
Cove Point LNG, LP | FERC | General Rate Case, Provision | |||||||||||
Regulatory Liabilities [Line Items] | |||||||||||
Approved rate increase (decrease) | $ 7 |
Regulatory Matters - EGTS - Reg
Regulatory Matters - EGTS - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 5,062 | $ 3,963 |
Regulatory assets, current | 1,319 | 544 |
Regulatory assets, noncurrent | 3,743 | 3,419 |
Regulatory assets not earning a return on investment | 2,300 | 1,800 |
EGTS | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 39 | 64 |
Regulatory assets, current | 5 | 2 |
Regulatory assets, noncurrent | 34 | 62 |
Regulatory assets not earning a return on investment | $ 39 | 64 |
EGTS | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 11 years | |
Total regulatory assets | $ 31 | 58 |
EGTS | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 8 | $ 6 |
Regulatory Matters - EGTS - R_2
Regulatory Matters - EGTS - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,369 | $ 7,214 |
Regulatory liabilities, current | 299 | 254 |
Regulatory liabilities, noncurrent | 7,070 | 6,960 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,901 | 3,185 |
Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 180 | 243 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 27 years | |
Total regulatory liabilities | $ 2,578 | 2,424 |
EGTS | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 627 | 532 |
Regulatory liabilities, current | 109 | 25 |
Regulatory liabilities, noncurrent | 518 | 507 |
EGTS | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 382 | 391 |
EGTS | Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 123 | 116 |
EGTS | Provision for rate refunds | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 90 | 0 |
EGTS | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 53 years | |
Total regulatory liabilities | $ 24 | 16 |
Regulatory liabilities, noncurrent | 24 | 16 |
EGTS | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 8 | $ 9 |
Regulatory Matters - EGTS - Oth
Regulatory Matters - EGTS - Other Regulatory Matters (Details) dekathermPerDay in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 8 Months Ended | |||||
Sep. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2014 dekathermPerDay | Jun. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Jun. 30, 2020 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Regulatory liabilities | $ 7,369 | $ 7,214 | ||||||
Asset retirement obligations | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Regulatory liabilities | 250 | 345 | ||||||
EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Provision for rate refunds | 90 | |||||||
Regulatory liabilities | 627 | 532 | ||||||
Property, plant and equipment, net | 4,504 | $ 4,440 | ||||||
EGTS | Cancellation Of Atlantic Coast Pipeline Project | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Impairment of assets | $ 482 | |||||||
Impairment of assets, after-tax | 359 | |||||||
EGTS | Atlantic Coast Pipeline Project, Available For Potential Modified Project | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Impairment of assets | $ 10 | |||||||
Impairment of assets, after-tax | 7 | |||||||
Benefit from ARO revision | 29 | |||||||
Benefit from ARO revision, after-tax | $ 20 | |||||||
Property, plant and equipment, net | 40 | |||||||
EGTS | Atlantic Coast Pipeline Project, Available For Potential Modified Project | Asset retirement obligations | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Regulatory liabilities | $ 75 | |||||||
FERC Case, Disallowance Of Capitalized AFUDC, Resolved In December 2020 | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Litigation settlement, expense | $ 43 | |||||||
Litigation settlement, expense, after-tax | $ 31 | |||||||
Litigation settlement, reduction in expense | $ 11 | |||||||
Litigation settlement, reduction in expense, after tax | $ 8 | |||||||
FERC | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Firm transportation service (Dth per day) | dekathermPerDay | 1.5 | |||||||
General Rate Case | FERC | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Requested rate increase (decrease) | $ 1,100 | |||||||
General Rate Case | FERC | Natural Gas, Storage | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Requested rate increase (decrease), percentage | 85% | |||||||
General Rate Case | FERC | Natural Gas, Gathering, Transportation, Marketing and Processing | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Requested rate increase (decrease), percentage | 60% | |||||||
General Rate Case, Transportation and Storage Revenues | FERC | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Approved rate increase (decrease) | 160 | |||||||
General Rate Case, Depreciation Expense | FERC | EGTS | ||||||||
Schedule Of Regulatory Assets and Liabilities [Line Items] | ||||||||
Approved rate increase (decrease) | $ (30) |
Investments and Restricted Ca_3
Investments and Restricted Cash and Cash Equivalents - BHE (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Total investments | $ 6,462,000,000 | $ 8,490,000,000 | |
Equity method investments | 6,062,000,000 | 6,554,000,000 | |
Restricted cash and investments | 890,000,000 | 916,000,000 | |
Total investments and restricted cash and cash equivalents and investments | 13,414,000,000 | 15,960,000,000 | |
Reflected as: | |||
Other current assets | 2,141,000,000 | 172,000,000 | |
Noncurrent assets | 11,273,000,000 | 15,788,000,000 | |
Unrealized (losses) gains recognized on marketable securities held at the reporting date | (1,487,000,000) | 1,819,000,000 | $ 4,791,000,000 |
Net (losses) gains recognized on marketable securities sold during the period | (515,000,000) | 4,000,000 | 6,000,000 |
(Losses) gains on marketable securities, net | (2,002,000,000) | 1,823,000,000 | 4,797,000,000 |
Tax equity contributions | 0 | 0 | 2,736,000,000 |
Bridger Coal Company | Coal purchase | Equity Method Investee | |||
Reflected as: | |||
Purchases from related party | 100,000,000 | 132,000,000 | $ 128,000,000 |
Quad Cities Station nuclear decommissioning trust funds | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Restricted cash and investments | 664,000,000 | 768,000,000 | |
Other restricted cash and cash equivalents | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Restricted cash and investments | 226,000,000 | 148,000,000 | |
BHE Renewables tax equity investments | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Equity method investments | 4,535,000,000 | 4,931,000,000 | |
Electric Transmission Texas, LLC | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Equity method investments | $ 623,000,000 | 595,000,000 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50% | ||
Iroquois Gas Transmission System, L.P. | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Equity method investments | $ 600,000,000 | 735,000,000 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50% | ||
Other | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Equity method investments | $ 304,000,000 | 293,000,000 | |
JAX LNG, LLC | |||
Reflected as: | |||
Equity method investment, ownership percentage | 50% | ||
Bridger Coal Company | |||
Reflected as: | |||
Equity method investment, ownership percentage | 66.67% | ||
BYD Company Limited common stock | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Total investments | $ 3,763,000,000 | 7,693,000,000 | |
U.S. Treasury Bills | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Total investments | 1,931,000,000 | 0 | |
Rabbi trusts | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Total investments | 433,000,000 | 492,000,000 | |
Other | |||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |||
Total investments | $ 335,000,000 | $ 305,000,000 |
Investments and Restricted Ca_4
Investments and Restricted Cash and Cash Equivalents - MEC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Total investments | $ 6,462 | $ 8,490 |
Total | 11,273 | 15,788 |
Quad Cities Station nuclear decommissioning trust funds | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Nuclear decommissioning trust | 664 | 768 |
MEC | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Rabbi trusts | 215 | 233 |
Total investments | 23 | 25 |
Total | $ 902 | $ 1,026 |
MEC | U.S. companies | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 54% | 56% |
MEC | US Government Corporations and Agencies Securities | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 32% | 30% |
MEC | Corporate obligations | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 11% | 12% |
MEC | Other | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 3% | 2% |
MEC | Quad Cities Station nuclear decommissioning trust funds | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Nuclear decommissioning trust | $ 664 | $ 768 |
Investments and Restricted Ca_5
Investments and Restricted Cash and Cash Equivalents - MidAmerican Funding (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
MidAmerican Funding, LLC | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Rabbi trusts | $ 2 | $ 2 |
Investments and Restricted Ca_6
Investments and Restricted Cash and Cash Equivalents - EEGH (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Equity method investments: | ||||
Equity method investments | $ 6,062 | $ 6,554 | ||
Restricted cash and cash equivalents: | ||||
Restricted cash and investments | 890 | 916 | ||
Total investments and restricted cash and cash equivalents and investments | 13,414 | 15,960 | ||
Reflected as: | ||||
Other current assets | 2,141 | 172 | ||
Noncurrent assets | 11,273 | 15,788 | ||
Equity income (loss) | (185) | (237) | $ (149) | |
EEGH | ||||
Equity method investments: | ||||
Equity method investments | 278 | 412 | ||
Restricted cash and cash equivalents: | ||||
Restricted cash and investments | 30 | 17 | ||
Total investments and restricted cash and cash equivalents and investments | 308 | 429 | ||
Reflected as: | ||||
Other current assets | 30 | 17 | ||
Noncurrent assets | 278 | 412 | ||
Investment exceeded share of equity in net assets | 130 | 130 | ||
Equity method investments contributions | 154 | |||
Distributions received from investments | 195 | 44 | 77 | |
Equity income (loss) | 103 | 44 | $ 42 | |
EEGH | Investment funds | ||||
Investments: | ||||
Investment funds | 14 | 13 | ||
EEGH | Customer deposits | ||||
Restricted cash and cash equivalents: | ||||
Restricted cash and investments | 30 | 17 | ||
Iroquois Gas Transmission System, L.P. | ||||
Equity method investments: | ||||
Equity method investments | $ 600 | 735 | ||
Reflected as: | ||||
Equity method investment, ownership percentage | 50% | |||
Iroquois Gas Transmission System, L.P. | EEGH | ||||
Equity method investments: | ||||
Equity method investments | $ 264 | $ 399 | ||
Reflected as: | ||||
Equity method investment, ownership percentage | 50% | |||
Equity income (loss) | $ 45 | |||
White River Hub, LLC | EEGH | ||||
Reflected as: | ||||
Equity method investment, ownership percentage | 50% |
Investments and Restricted Ca_7
Investments and Restricted Cash and Cash Equivalents - EGTS (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Reflected as: | ||
Investments and restricted cash and cash equivalents | $ 2,141 | $ 172 |
EGTS | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | 29 | 15 |
Total investments and restricted cash and cash equivalents | 43 | 28 |
Reflected as: | ||
Investments and restricted cash and cash equivalents | 29 | 15 |
Noncurrent assets | 14 | 13 |
Customer deposits | EGTS | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Restricted cash and cash equivalents | 29 | 15 |
Investment funds | EGTS | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Investments | $ 14 | $ 13 |
Short-term Debt and Credit Fa_3
Short-term Debt and Credit Facilities - Schedule of Line of Credit Facilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 10,873 | $ 11,281 |
Short-term debt | (1,119) | (2,009) |
Tax-exempt bond support and letters of credit | (620) | (589) |
Net credit facilities | 9,134 | 8,683 |
BHE | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 3,500 | 3,500 |
Short-term debt | (245) | 0 |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 3,255 | 3,500 |
PAC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,200 | 1,200 |
Short-term debt | 0 | 0 |
Tax-exempt bond support and letters of credit | (249) | (218) |
Net credit facilities | 951 | 982 |
MidAmerican Funding | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,509 | 1,509 |
Short-term debt | 0 | 0 |
Tax-exempt bond support and letters of credit | (370) | (370) |
Net credit facilities | 1,139 | 1,139 |
NV Energy | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 650 | 650 |
Short-term debt | 0 | (339) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 650 | 311 |
Northern Powergrid | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 296 | 271 |
Short-term debt | (120) | (1) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 176 | 270 |
Line of credit, amount drawn | 55 | 1 |
BHE Canada | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 793 | 851 |
Short-term debt | (197) | (245) |
Tax-exempt bond support and letters of credit | (1) | (1) |
Net credit facilities | 595 | 605 |
HomeServices | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 2,925 | 3,300 |
Short-term debt | (557) | (1,424) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | $ 2,368 | $ 1,876 |
Short-term Debt and Credit Fa_4
Short-term Debt and Credit Facilities - Narrative (Details) £ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 GBP (£) | Dec. 31, 2022 CAD ($) | Dec. 31, 2021 USD ($) | |
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 | |||
Short-term debt | 1,119,000,000 | 2,009,000,000 | |||
BHE | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 3,500,000,000 | 3,500,000,000 | |||
Short-term debt | $ 245,000,000 | $ 0 | |||
Weighted average interest rate | 4.55% | 4.55% | 4.55% | 0% | |
BHE Renewables | |||||
Line of Credit Facility [Line Items] | |||||
Letters of credit outstanding | $ 309,000,000 | $ 311,000,000 | |||
PAC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 1,200,000,000 | 1,200,000,000 | |||
Short-term debt | 0 | 0 | |||
Letters of credit outstanding | 38,000,000 | 19,000,000 | |||
MEC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 1,505,000,000 | 1,505,000,000 | |||
Letters of credit outstanding | 34,000,000 | 42,000,000 | |||
NPC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 400,000,000 | 400,000,000 | |||
Short-term debt | 0 | 180,000,000 | |||
Letters of credit outstanding | 0 | 15,000,000 | |||
SPPC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 250,000,000 | 250,000,000 | |||
Short-term debt | 0 | 159,000,000 | |||
Northern Powergrid | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 296,000,000 | 271,000,000 | |||
Short-term debt | 120,000,000 | 1,000,000 | |||
Line of credit, amount drawn | 55,000,000 | 1,000,000 | |||
HomeServices | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 2,925,000,000 | 3,300,000,000 | |||
Short-term debt | $ 557,000,000 | 1,424,000,000 | |||
Line of credit | BHE | |||||
Line of Credit Facility [Line Items] | |||||
Debt to capitalization ratio | 0.70 | 0.70 | 0.70 | ||
Line of credit | BHE Renewables | |||||
Line of Credit Facility [Line Items] | |||||
Letters of credit outstanding | $ 101,000,000 | 101,000,000 | |||
Line of credit | MEC | |||||
Line of Credit Facility [Line Items] | |||||
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | ||
Line of credit | NPC | |||||
Line of Credit Facility [Line Items] | |||||
Short-term debt | $ 0 | $ 339,000,000 | |||
Weighted average interest rate | 0% | 0% | 0% | 0.86% | |
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | ||
Line of credit | SPPC | |||||
Line of Credit Facility [Line Items] | |||||
Weighted average interest rate | 0% | 0% | 0% | 0.86% | |
Line of credit | AltaLink | |||||
Line of Credit Facility [Line Items] | |||||
Short-term debt | $ 89,000,000 | $ 108,000,000 | |||
Weighted average interest rate | 4.59% | 4.59% | 4.59% | 0.35% | |
Debt to capitalization ratio | 0.75 | 0.75 | 0.75 | ||
Line of credit | AltaLink Investments, L.P. | |||||
Line of Credit Facility [Line Items] | |||||
Short-term debt | $ 108,000,000 | $ 137,000,000 | |||
Weighted average interest rate | 5.71% | 5.71% | 5.71% | 1.46% | |
Debt to capitalization ratio | 0.8 | 0.8 | 0.8 | ||
EBITDA to interest expense ratio | 2.25 | 2.25 | 2.25 | ||
Letter of credit | AltaLink Investments, L.P. | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 10 | ||||
Extension period | 365 days | ||||
Unsecured credit facility, $3.5 billion, expiring June 2025 | Line of credit | BHE | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 3,500,000,000 | ||||
Unsecured credit facility, $1.5 billion, expiring June 2025 | Line of credit | MEC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 1,500,000,000 | ||||
Multicurrency revolving credit facility, expiring December 2025 | Line of credit | Northern Powergrid | |||||
Line of Credit Facility [Line Items] | |||||
Debt to regulated asset value | 0.8 | 0.8 | 0.8 | ||
Interest coverage ratio | 2.5 | 2.5 | 2.5 | ||
Multicurrency revolving credit facility, expiring December 2025 | Line of credit | Northern Powergrid (Northeast) | |||||
Line of Credit Facility [Line Items] | |||||
Debt to regulated asset value | 0.65 | 0.65 | 0.65 | ||
Multicurrency revolving credit facility, expiring December 2025 | Revolving credit facility | Northern Powergrid | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | £ | £ 200 | ||||
Weighted average interest rate | 3.56% | 3.56% | 3.56% | 0% | |
Line of credit, amount drawn | $ 65,000,000 | $ 0 | |||
Extension period | 1 year | ||||
Secured credit facility, C$500 million, expiring December 2027 | Line of credit | AltaLink | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 500 | ||||
Extension period | 1 year | ||||
Secured credit facility, C$75 million, expiring December 2027 | Line of credit | AltaLink | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 75 | ||||
Extension period | 1 year | ||||
Unsecured credit facility, C$300 million, expiring December 2026 | Line of credit | AltaLink Investments, L.P. | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | 300 | ||||
Extension period | 1 year | ||||
Revolving credit facility, C$200 million, expiring April 2023 | Line of credit | AltaLink Investments, L.P. | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 200 | ||||
Extension period | 1 year | ||||
Unsecured credit facility, $700 million, expiring September 2026 | Line of credit | HomeServices | |||||
Line of Credit Facility [Line Items] | |||||
Short-term debt | $ 115,000,000 | $ 250,000,000 | |||
Weighted average interest rate | 5.17% | 5.17% | 5.17% | 0.95% | |
Mortgage lines of credit, expiring March through September 2023 | Line of credit | HomeServices | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 2,200,000,000 | $ 2,600,000,000 | |||
Short-term debt | $ 442,000,000 | $ 1,200,000,000 | |||
Weighted average interest rate | 6.09% | 6.09% | 6.09% | 1.91% | |
Line of credit | NPC | |||||
Line of Credit Facility [Line Items] | |||||
Short-term debt | $ 0 | $ 180,000,000 | |||
Weighted average interest rate | 0% | 0% | 0% | 0.86% | |
Line of credit | Unsecured credit facility, $1.2 billion, expiring June 2025 | PAC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 1,200,000,000 | ||||
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | ||
Line of credit | Unsecured credit facility, $800 million, expiring January 2024 | PAC | Subsequent event | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 800,000,000 | ||||
Line of credit, amount drawn | $ 0 | ||||
Line of credit | Secured credit facility, $400 million, expiring June 2025 | NPC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 400,000,000 | ||||
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | ||
Line of credit | Secured credit facility, $250 million, expiring June 2025 | SPPC | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 250,000,000 | ||||
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | ||
Line of credit | Unsecured credit facility, $700 million, expiring September 2026 | HomeServices | |||||
Line of Credit Facility [Line Items] | |||||
Credit facilities | $ 700,000,000 |
Short-term Debt and Credit Fa_5
Short-term Debt and Credit Facilities - PAC (Details) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Line of Credit Facility [Line Items] | |||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 | |
Tax-exempt bond support and letters of credit | (620,000,000) | (589,000,000) | |
Net credit facilities | 9,134,000,000 | 8,683,000,000 | |
PAC | |||
Line of Credit Facility [Line Items] | |||
Credit facilities | 1,200,000,000 | 1,200,000,000 | |
Tax-exempt bond support and letters of credit | (249,000,000) | (218,000,000) | |
Net credit facilities | 951,000,000 | 982,000,000 | |
Letters of credit outstanding | 38,000,000 | $ 19,000,000 | |
PAC | Unsecured credit facility, $1.2 billion, expiring June 2025 | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Credit facilities | $ 1,200,000,000 | ||
Debt to capitalization ratio | 0.65 | ||
PAC | Unsecured credit facility, $800 million, expiring January 2024 | Line of credit | Subsequent event | |||
Line of Credit Facility [Line Items] | |||
Credit facilities | $ 800,000,000 | ||
Line of credit, amount drawn | $ 0 |
Short-term Debt and Credit Fa_6
Short-term Debt and Credit Facilities - MEC (Details) $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 10,873 | $ 11,281 |
Tax-exempt bond support and letters of credit | (620) | (589) |
Net credit facilities | 9,134 | 8,683 |
MEC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,505 | 1,505 |
Tax-exempt bond support and letters of credit | (370) | (370) |
Net credit facilities | 1,135 | 1,135 |
Letters of credit outstanding | $ 34 | $ 42 |
MEC | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Debt to capitalization ratio | 0.65 | |
MEC | Commercial paper | ||
Line of Credit Facility [Line Items] | ||
Bank notes | $ 1,500 | |
MEC | Unsecured credit facility, $1.5 billion, expiring June 2025 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,500 | |
MEC | Unsecured 364-day credit facility, $5 million, expiring June 2023 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 5 |
Short-term Debt and Credit Fa_7
Short-term Debt and Credit Facilities - MidAmerican Funding (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 |
MidAmerican Funding, LLC | Unsecured 364-day credit facility, $4 million, expiring June | MHC, Inc. | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 4,000,000 | |
Outstanding balance on credit facility | $ 0 | $ 0 |
Short-term Debt and Credit Fa_8
Short-term Debt and Credit Facilities - NPC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 10,873 | $ 11,281 |
Short-term debt | (1,119) | (2,009) |
Net credit facilities | 9,134 | 8,683 |
NPC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 400 | 400 |
Short-term debt | 0 | (180) |
Net credit facilities | 400 | 220 |
Letters of credit outstanding | 0 | 15 |
NPC | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Short-term debt | $ 0 | $ (180) |
Weighted average interest rate | 0% | 0.86% |
NPC | Secured credit facility, $400 million, expiring June 2025 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 400 | |
Debt to capitalization ratio | 0.65 |
Short-term Debt and Credit Fa_9
Short-term Debt and Credit Facilities - SPPC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 10,873 | $ 11,281 |
Short-term debt | (1,119) | (2,009) |
Net credit facilities | 9,134 | 8,683 |
SPPC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 250 | 250 |
Short-term debt | 0 | (159) |
Net credit facilities | $ 250 | $ 91 |
SPPC | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Weighted average interest rate | 0% | 0.86% |
SPPC | Secured credit facility, $250 million, expiring June 2025 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 250 | |
Debt to capitalization ratio | 0.65 |
BHE Debt (Details)
BHE Debt (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
BHE Debt [Line Items] | |||
Par value | $ 51,702 | ||
Noncurrent senior debt | 13,096 | $ 13,003 | |
BHE junior subordinated debentures | 100 | 100 | |
Senior notes | BHE | |||
BHE Debt [Line Items] | |||
Par value | 14,101 | ||
Total BHE Senior Debt | 13,996 | 13,003 | |
Current senior debt | 900 | 0 | |
Noncurrent senior debt | $ 13,096 | 13,003 | |
Senior notes | BHE | 2.80% Senior Notes, due 2023 | |||
BHE Debt [Line Items] | |||
Stated rate | 2.80% | ||
Par value | $ 400 | ||
Total BHE Senior Debt | $ 400 | 398 | |
Senior notes | BHE | 3.75% Senior Notes, due 2023 | |||
BHE Debt [Line Items] | |||
Stated rate | 3.75% | ||
Par value | $ 500 | ||
Total BHE Senior Debt | $ 500 | 499 | |
Senior notes | BHE | 3.50% Senior Notes, due 2025 | |||
BHE Debt [Line Items] | |||
Stated rate | 3.50% | ||
Par value | $ 400 | ||
Total BHE Senior Debt | $ 398 | 398 | |
Senior notes | BHE | 4.05% Senior Notes, due 2025 | |||
BHE Debt [Line Items] | |||
Stated rate | 4.05% | ||
Par value | $ 1,250 | ||
Total BHE Senior Debt | $ 1,245 | 1,246 | |
Senior notes | BHE | 3.25% Senior Notes, due 2028 | |||
BHE Debt [Line Items] | |||
Stated rate | 3.25% | ||
Par value | $ 600 | ||
Total BHE Senior Debt | $ 594 | 594 | |
Senior notes | BHE | 8.48% Senior Notes, due 2028 | |||
BHE Debt [Line Items] | |||
Stated rate | 8.48% | ||
Par value | $ 256 | ||
Total BHE Senior Debt | $ 266 | 260 | |
Senior notes | BHE | 3.70% Senior Notes, due 2030 | |||
BHE Debt [Line Items] | |||
Stated rate | 3.70% | ||
Par value | $ 1,100 | ||
Total BHE Senior Debt | $ 1,095 | 1,096 | |
Senior notes | BHE | 1.65% Senior Notes, due 2031 | |||
BHE Debt [Line Items] | |||
Stated rate | 1.65% | ||
Par value | $ 500 | ||
Total BHE Senior Debt | $ 497 | 497 | |
Senior notes | BHE | 6.125% Senior Bonds, due 2036 | |||
BHE Debt [Line Items] | |||
Stated rate | 6.125% | ||
Par value | $ 1,670 | ||
Total BHE Senior Debt | $ 1,661 | 1,661 | |
Senior notes | BHE | 5.95% Senior Bonds, due 2037 | |||
BHE Debt [Line Items] | |||
Stated rate | 5.95% | ||
Par value | $ 550 | ||
Total BHE Senior Debt | $ 548 | 548 | |
Senior notes | BHE | 6.50% Senior Bonds, due 2037 | |||
BHE Debt [Line Items] | |||
Stated rate | 6.50% | ||
Par value | $ 225 | ||
Total BHE Senior Debt | $ 223 | 223 | |
Senior notes | BHE | 5.15% Senior Notes, due 2043 | |||
BHE Debt [Line Items] | |||
Stated rate | 5.15% | ||
Par value | $ 750 | ||
Total BHE Senior Debt | $ 740 | 740 | |
Senior notes | BHE | 4.50% Senior Notes, due 2045 | |||
BHE Debt [Line Items] | |||
Stated rate | 4.50% | ||
Par value | $ 750 | ||
Total BHE Senior Debt | $ 738 | 738 | |
Senior notes | BHE | 3.80% Senior Notes, due 2048 | |||
BHE Debt [Line Items] | |||
Stated rate | 3.80% | ||
Par value | $ 750 | ||
Total BHE Senior Debt | $ 738 | 738 | |
Senior notes | BHE | 4.45% Senior Notes, due 2049 | |||
BHE Debt [Line Items] | |||
Stated rate | 4.45% | ||
Par value | $ 1,000 | ||
Total BHE Senior Debt | $ 990 | 990 | |
Senior notes | BHE | 4.25% Senior Notes, due 2050 | |||
BHE Debt [Line Items] | |||
Stated rate | 4.25% | ||
Par value | $ 900 | ||
Total BHE Senior Debt | $ 889 | 889 | |
Senior notes | BHE | 2.85% Senior Notes, due 2051 | |||
BHE Debt [Line Items] | |||
Stated rate | 2.85% | ||
Par value | $ 1,500 | ||
Total BHE Senior Debt | $ 1,487 | 1,488 | |
Senior notes | BHE | 4.60% Senior Notes, due 2053 | |||
BHE Debt [Line Items] | |||
Stated rate | 4.60% | ||
Par value | $ 1,000 | ||
Total BHE Senior Debt | 987 | 0 | |
Junior subordinated debt | BHE | |||
BHE Debt [Line Items] | |||
Par value | 100 | ||
BHE junior subordinated debentures | $ 100 | 100 | |
Junior subordinated debt | BHE | 5.00% Junior subordinated debentures, due 2057 | |||
BHE Debt [Line Items] | |||
Stated rate | 5% | ||
Par value | $ 100 | ||
BHE junior subordinated debentures | 100 | 100 | |
Interest expense | $ 5 | $ 5 | $ 5 |
Subsidiary Debt - Schedule of L
Subsidiary Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt, noncurrent | 35,238 | $ 35,394 |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | 36,659 |
Subsidiary debt, current | 2,301 | 1,265 |
Subsidiary debt, noncurrent | 35,238 | 35,394 |
Subsidiary debt | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 9,742 | |
Subsidiary debt | 9,666 | 8,730 |
Subsidiary debt | MidAmerican Funding LLC | ||
Debt Instrument [Line Items] | ||
Par value | 8,057 | |
Subsidiary debt | 7,954 | 7,946 |
Subsidiary debt | MidAmerican Funding | ||
Debt Instrument [Line Items] | ||
Par value | 239 | |
Subsidiary debt | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Par value | 7,818 | |
Subsidiary debt | 7,729 | 7,721 |
Subsidiary debt | NV Energy | ||
Debt Instrument [Line Items] | ||
Par value | 4,386 | |
Subsidiary debt | 4,354 | 3,675 |
Subsidiary debt | NPC | ||
Debt Instrument [Line Items] | ||
Par value | 3,234 | |
Subsidiary debt | 3,195 | 2,499 |
Subsidiary debt | SPPC | ||
Debt Instrument [Line Items] | ||
Par value | 1,152 | |
Subsidiary debt | 1,148 | 1,164 |
Subsidiary debt | Northern Powergrid | ||
Debt Instrument [Line Items] | ||
Par value | 3,085 | |
Subsidiary debt | 3,054 | 3,287 |
Subsidiary debt | BHE Pipeline Group | ||
Debt Instrument [Line Items] | ||
Par value | 5,518 | |
Subsidiary debt | 5,849 | 5,924 |
Subsidiary debt | BHE Transmission | ||
Debt Instrument [Line Items] | ||
Par value | 3,509 | |
Subsidiary debt | 3,495 | 3,906 |
Subsidiary debt | BHE Renewables | ||
Debt Instrument [Line Items] | ||
Par value | 3,064 | |
Subsidiary debt | 3,027 | 3,043 |
Subsidiary debt | HomeServices | ||
Debt Instrument [Line Items] | ||
Par value | 140 | |
Subsidiary debt | $ 140 | $ 148 |
Subsidiary Debt - PacifiCorp (D
Subsidiary Debt - PacifiCorp (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
PAC | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | $ 33,000 | |
2.95% to 8.23%, due through 2026 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
2.95% to 8.23%, due through 2026 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.23% | |
2.70% to 7.70%, due 2029 to 2031 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
2.70% to 7.70%, due 2029 to 2031 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
5.25% to 6.25%, due 2034 to 2037 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
5.25% to 6.25%, due 2034 to 2037 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.25% | |
4.10% to 6.35%, due 2038 to 2042 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
4.10% to 6.35%, due 2038 to 2042 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
2.90% to 5.35%, due 2049 to 2053 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
2.90% to 5.35%, due 2049 to 2053 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.35% | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
Subsidiary debt | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 9,742 | |
Subsidiary debt | $ 9,666 | $ 8,730 |
Subsidiary debt | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Variable rate | 3.75% | 0.12% |
Subsidiary debt | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Variable rate | 4.10% | 0.14% |
Subsidiary debt | 2.95% to 8.23%, due through 2026 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,224 | |
Subsidiary debt | $ 1,223 | $ 1,377 |
Subsidiary debt | 2.95% to 8.23%, due through 2026 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
Subsidiary debt | 2.95% to 8.23%, due through 2026 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.23% | |
Subsidiary debt | 2.70% to 7.70%, due 2029 to 2031 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,100 | |
Subsidiary debt | $ 1,095 | 1,094 |
Subsidiary debt | 2.70% to 7.70%, due 2029 to 2031 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
Subsidiary debt | 2.70% to 7.70%, due 2029 to 2031 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
Subsidiary debt | 5.25% to 6.25%, due 2034 to 2037 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 2,050 | |
Subsidiary debt | $ 2,042 | 2,042 |
Subsidiary debt | 5.25% to 6.25%, due 2034 to 2037 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
Subsidiary debt | 5.25% to 6.25%, due 2034 to 2037 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.25% | |
Subsidiary debt | 4.10% to 6.35%, due 2038 to 2042 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,250 | |
Subsidiary debt | $ 1,239 | 1,238 |
Subsidiary debt | 4.10% to 6.35%, due 2038 to 2042 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
Subsidiary debt | 4.10% to 6.35%, due 2038 to 2042 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
Subsidiary debt | 2.90% to 5.35%, due 2049 to 2053 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 3,900 | |
Subsidiary debt | $ 3,849 | 2,761 |
Subsidiary debt | 2.90% to 5.35%, due 2049 to 2053 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
Subsidiary debt | 2.90% to 5.35%, due 2049 to 2053 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.35% | |
Subsidiary debt | Due 2025 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 25 | |
Subsidiary debt | 25 | 25 |
Subsidiary debt | Due 2024 to 2025 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 193 | |
Subsidiary debt | $ 193 | $ 193 |
Subsidiary Debt - MidAmerican F
Subsidiary Debt - MidAmerican Funding (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
MidAmerican Funding LLC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 8,057 | |
Subsidiary debt | 7,954 | 7,946 |
MidAmerican Funding | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 239 | |
Fair value adjustments | (15) | (15) |
Debt, net of fair value adjustments | $ 225 | 225 |
MidAmerican Funding | Subsidiary debt | 6.927% Senior Bonds, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.927% | |
Par value | $ 239 | |
Subsidiary debt | 240 | 240 |
MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | $ 24,000 | |
MidAmerican Energy | 3.65%, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.65% | |
MidAmerican Energy | 4.25%, due 2049 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.25% | |
MidAmerican Energy | 3.15%, due 2050 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.15% | |
MidAmerican Energy | 2.70%, due 2052 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
MidAmerican Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 7,818 | |
Subsidiary debt | $ 7,729 | 7,721 |
MidAmerican Energy | Subsidiary debt | 3.70%, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 250 | |
Subsidiary debt | $ 250 | 250 |
MidAmerican Energy | Subsidiary debt | 3.50%, due 2024 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.50% | |
Par value | $ 500 | |
Subsidiary debt | $ 500 | 501 |
MidAmerican Energy | Subsidiary debt | 3.10%, due 2027 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.10% | |
Par value | $ 375 | |
Subsidiary debt | 374 | 373 |
MidAmerican Energy | Subsidiary debt | 3.65%, due 2029 | ||
Debt Instrument [Line Items] | ||
Par value | 850 | |
Subsidiary debt | $ 859 | 860 |
MidAmerican Energy | Subsidiary debt | 4.80%, due 2043 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 347 | 346 |
MidAmerican Energy | Subsidiary debt | 4.40%, due 2044 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.40% | |
Par value | $ 400 | |
Subsidiary debt | $ 395 | 395 |
MidAmerican Energy | Subsidiary debt | 4.25%, due 2046 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.25% | |
Par value | $ 450 | |
Subsidiary debt | $ 446 | 446 |
MidAmerican Energy | Subsidiary debt | 3.95%, due 2047 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 475 | |
Subsidiary debt | $ 471 | 470 |
MidAmerican Energy | Subsidiary debt | 3.65%, due 2048 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.65% | |
Par value | $ 700 | |
Subsidiary debt | 689 | 689 |
MidAmerican Energy | Subsidiary debt | 4.25%, due 2049 | ||
Debt Instrument [Line Items] | ||
Par value | 900 | |
Subsidiary debt | 875 | 874 |
MidAmerican Energy | Subsidiary debt | 3.15%, due 2050 | ||
Debt Instrument [Line Items] | ||
Par value | 600 | |
Subsidiary debt | 592 | 592 |
MidAmerican Energy | Subsidiary debt | 2.70%, due 2052 | ||
Debt Instrument [Line Items] | ||
Par value | 500 | |
Subsidiary debt | $ 492 | 492 |
MidAmerican Energy | Subsidiary debt | 6.75% Series, due 2031 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 400 | |
Subsidiary debt | $ 397 | 397 |
MidAmerican Energy | Subsidiary debt | 5.75% Series, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
Par value | $ 300 | |
Subsidiary debt | $ 298 | 298 |
MidAmerican Energy | Subsidiary debt | 5.80% Series, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 348 | $ 348 |
MidAmerican Energy | Subsidiary debt | Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 | ||
Debt Instrument [Line Items] | ||
Vendor financing, discount rate applied | 3.20% | 7.81% |
Par value | $ 48 | |
Subsidiary debt | $ 27 | $ 22 |
MidAmerican Energy | Subsidiary debt | Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2022-3.83%, 2021-0.13%), due 2023-2047 | ||
Debt Instrument [Line Items] | ||
Variable rate | 3.83% | 0.13% |
Par value | $ 370 | |
Subsidiary debt | 369 | $ 368 |
MidAmerican Energy | Subsidiary debt | Secured debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 180 |
Subsidiary Debt - NV Energy (De
Subsidiary Debt - NV Energy (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
NV Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 4,386 | |
Subsidiary debt | 4,354 | 3,675 |
Debt, net of fair value adjustments | 4,354 | 3,675 |
NPC | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | 9,800 | |
NPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,234 | |
Subsidiary debt | 3,195 | 2,499 |
Fair value adjustments | 10 | 11 |
Debt, net of fair value adjustments | $ 3,205 | 2,510 |
NPC | Subsidiary debt | 3.700% Series CC, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 500 | |
Subsidiary debt | $ 497 | 497 |
NPC | Subsidiary debt | 2.400% Series DD, due 2030 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.40% | |
Par value | $ 425 | |
Subsidiary debt | $ 422 | 422 |
NPC | Subsidiary debt | 6.650% Series N, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.65% | |
Par value | $ 367 | |
Subsidiary debt | $ 360 | 359 |
NPC | Subsidiary debt | 6.750% Series R, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 349 | |
Subsidiary debt | $ 346 | 346 |
NPC | Subsidiary debt | 5.375% Series X, due 2040 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.375% | |
Par value | $ 250 | |
Subsidiary debt | $ 248 | 248 |
NPC | Subsidiary debt | 5.450% Series Y, due 2041 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.45% | |
Par value | $ 250 | |
Subsidiary debt | $ 239 | 239 |
NPC | Subsidiary debt | 3.125% Series EE, due 2050 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.125% | |
Par value | $ 300 | |
Subsidiary debt | $ 298 | 297 |
NPC | Subsidiary debt | 5.900% Series GG, due 2053 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.90% | |
Par value | $ 400 | |
Subsidiary debt | $ 394 | 0 |
NPC | Subsidiary debt | 1.875% Pollution Control Bonds Series 2017A, due 2032 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.875% | |
Par value | $ 40 | |
Subsidiary debt | $ 39 | 39 |
NPC | Subsidiary debt | 1.650% Pollution Control Bonds Series 2017, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.65% | |
Par value | $ 40 | |
Subsidiary debt | $ 39 | 39 |
NPC | Subsidiary debt | 1.650% Pollution Control Bonds Series 2017B, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.65% | |
Par value | $ 13 | |
Subsidiary debt | $ 13 | 13 |
NPC | Subsidiary debt | Variable-rate 4.821% Term Loan, due 2024 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.821% | |
Par value | $ 300 | |
Subsidiary debt | 300 | 0 |
SPPC | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | 4,900 | |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,152 | |
Subsidiary debt | 1,148 | 1,164 |
Fair value adjustments | 1 | 1 |
Debt, net of fair value adjustments | $ 1,149 | 1,165 |
SPPC | Subsidiary debt | 3.375% Series T, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.375% | |
Par value | $ 250 | |
Subsidiary debt | $ 249 | 249 |
SPPC | Subsidiary debt | 2.600% Series U, due 2026 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.60% | |
Par value | $ 400 | |
Subsidiary debt | $ 397 | 397 |
SPPC | Subsidiary debt | 6.750% Series P, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 252 | |
Subsidiary debt | $ 254 | 253 |
SPPC | Subsidiary debt | 4.710% Series W, due 2052 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.71% | |
Par value | $ 250 | |
Subsidiary debt | $ 248 | 0 |
SPPC | Subsidiary debt | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 30 |
SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 60 |
SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 30 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 25 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 25 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 75 |
SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | $ 20 |
Subsidiary Debt - Northern Powe
Subsidiary Debt - Northern Powergrid (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
Northern Powergrid | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,085 | |
Subsidiary debt | $ 3,054 | 3,287 |
Northern Powergrid | Subsidiary debt | 4.133% European Investment Bank loans, due 2022 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.133% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 204 |
Northern Powergrid | Subsidiary debt | 7.25% Bonds, due 2022 | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.25% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 269 |
Northern Powergrid | Subsidiary debt | 2.50% Bonds, due 2025 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.50% | |
Par value | $ 182 | |
Subsidiary debt | $ 181 | 202 |
Northern Powergrid | Subsidiary debt | 2.073% European Investment Bank loan, due 2025 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.073% | |
Par value | $ 60 | |
Subsidiary debt | $ 62 | 69 |
Northern Powergrid | Subsidiary debt | 2.564% European Investment Bank loans, due 2027 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.564% | |
Par value | $ 302 | |
Subsidiary debt | $ 301 | 337 |
Northern Powergrid | Subsidiary debt | 7.25% Bonds, due 2028 | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.25% | |
Par value | $ 224 | |
Subsidiary debt | $ 227 | 254 |
Northern Powergrid | Subsidiary debt | 4.375% Bonds, due 2032 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.375% | |
Par value | $ 182 | |
Subsidiary debt | $ 179 | 200 |
Northern Powergrid | Subsidiary debt | 5.125% Bonds, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.125% | |
Par value | $ 242 | |
Subsidiary debt | $ 240 | 268 |
Northern Powergrid | Subsidiary debt | 5.125% Bonds, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.125% | |
Par value | $ 182 | |
Subsidiary debt | $ 180 | 201 |
Northern Powergrid | Subsidiary debt | 2.750% Bonds, due 2049 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.75% | |
Par value | $ 182 | |
Subsidiary debt | $ 178 | 200 |
Northern Powergrid | Subsidiary debt | 3.250% Bonds, due 2052 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.25% | |
Par value | $ 423 | |
Subsidiary debt | $ 419 | 0 |
Northern Powergrid | Subsidiary debt | 2.250% Bonds, due 2059 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.25% | |
Par value | $ 363 | |
Subsidiary debt | $ 355 | 398 |
Northern Powergrid | Subsidiary debt | 1.875% Bonds, due 2062 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.875% | |
Par value | $ 363 | |
Subsidiary debt | 356 | 398 |
Northern Powergrid | Subsidiary debt | Variable-rate loan, due 2025 | ||
Debt Instrument [Line Items] | ||
Par value | 163 | |
Subsidiary debt | $ 164 | 0 |
Percentage bearing variable interest | 70% | |
Percentage bearing fixed interest | 30% | |
Interest rate on derivatives | 100% | |
Variable rate | 5.20% | |
Basis spread on variable rate | 2% | |
Fixed interest rate | 3.09% | |
Northern Powergrid | Subsidiary debt | Variable-rate loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | $ 217 | |
Subsidiary debt | $ 212 | $ 287 |
Interest rate on derivatives | 80% | |
Variable rate | 4.98% | |
Basis spread on variable rate | 1.55% | |
Fixed interest rate | 2.45% | |
Effective interest rate | 2.95% |
Subsidiary Debt - BHE Pipeline
Subsidiary Debt - BHE Pipeline Group (Details) € in Millions, $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) |
Debt Instrument [Line Items] | ||||
Par value | $ 51,702 | |||
Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 37,501 | |||
Subsidiary debt | 37,539 | $ 36,659 | ||
BHE Pipeline Group | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 5,518 | |||
Subsidiary debt | 5,849 | 5,924 | ||
Eastern Energy Gas | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,918 | |||
Subsidiary debt | 3,892 | 3,906 | ||
Fair value adjustments | 368 | 430 | ||
Debt, net of fair value adjustments | $ 4,260 | 4,336 | ||
Eastern Energy Gas | Subsidiary debt | 2.875% Senior Notes, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.875% | 2.875% | ||
Par value | $ 250 | |||
Subsidiary debt | $ 250 | 250 | ||
Eastern Energy Gas | Subsidiary debt | 3.55% Senior Notes, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.55% | 3.55% | ||
Par value | $ 400 | |||
Subsidiary debt | $ 399 | 399 | ||
Eastern Energy Gas | Subsidiary debt | 2.50% Senior Notes, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.50% | 2.50% | ||
Par value | $ 600 | |||
Subsidiary debt | $ 598 | 597 | ||
Eastern Energy Gas | Subsidiary debt | 3.60% Senior Notes, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 339 | |||
Subsidiary debt | $ 338 | 338 | ||
Eastern Energy Gas | Subsidiary debt | 3.32% Senior Notes, due 2026 (€250) | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.32% | 3.32% | ||
Par value | $ 268 | € 250 | ||
Subsidiary debt | $ 267 | $ 283 | ||
Interest rate on derivatives | 100% | 100% | ||
Fixed interest rate | 3.32% | 3.32% | 3.32% | |
Outstanding principal amount including swap | $ 280 | $ 280 | ||
Eastern Energy Gas | Subsidiary debt | 3.00% Senior Notes, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3% | 3% | ||
Par value | $ 174 | |||
Subsidiary debt | $ 173 | 173 | ||
Eastern Energy Gas | Subsidiary debt | 3.80% Senior Notes, due 2031 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.80% | 3.80% | ||
Par value | $ 150 | |||
Subsidiary debt | $ 150 | 150 | ||
Eastern Energy Gas | Subsidiary debt | 4.80% Senior Notes, due 2043 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 54 | |||
Subsidiary debt | $ 53 | 53 | ||
Eastern Energy Gas | Subsidiary debt | 4.60% Senior Notes, due 2044 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 56 | |||
Subsidiary debt | $ 56 | 56 | ||
Eastern Energy Gas | Subsidiary debt | 3.90% Senior Notes, due 2049 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 27 | |||
Subsidiary debt | $ 26 | 26 | ||
Eastern Energy Gas | Subsidiary debt | EEGH 3.32% Senior Notes, due 2026, denominated in euros | ||||
Debt Instrument [Line Items] | ||||
Par value | € | € 250 | |||
Fixed interest rate | 1.45% | 1.45% | ||
EGTS | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 1,600 | |||
EGTS | Subsidiary debt | 3.60% Senior Notes, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 111 | |||
Subsidiary debt | $ 110 | 110 | ||
EGTS | Subsidiary debt | 3.00% Senior Notes, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3% | 3% | ||
Par value | $ 426 | |||
Subsidiary debt | $ 422 | 422 | ||
EGTS | Subsidiary debt | 4.80% Senior Notes, due 2043 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 346 | |||
Subsidiary debt | $ 342 | 341 | ||
EGTS | Subsidiary debt | 4.60% Senior Notes, due 2044 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 444 | |||
Subsidiary debt | $ 437 | 437 | ||
EGTS | Subsidiary debt | 3.90% Senior Notes, due 2049 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 273 | |||
Subsidiary debt | 271 | 271 | ||
Northern Natural Gas | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,600 | |||
Subsidiary debt | $ 1,589 | 1,588 | ||
Northern Natural Gas | Subsidiary debt | 5.80% Senior Bonds, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 5.80% | 5.80% | ||
Par value | $ 150 | |||
Subsidiary debt | $ 149 | 149 | ||
Northern Natural Gas | Subsidiary debt | 4.10% Senior Bonds, due 2042 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.10% | 4.10% | ||
Par value | $ 250 | |||
Subsidiary debt | $ 248 | 248 | ||
Northern Natural Gas | Subsidiary debt | 4.30% Senior Bonds, due 2049 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.30% | 4.30% | ||
Par value | $ 650 | |||
Subsidiary debt | $ 652 | 651 | ||
Northern Natural Gas | Subsidiary debt | 3.40% Senior Bonds, due 2051 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.40% | 3.40% | ||
Par value | $ 550 | |||
Subsidiary debt | $ 540 | $ 540 |
Subsidiary Debt - BHE Transmiss
Subsidiary Debt - BHE Transmission (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
Subsidiary debt | BHE Transmission | ||
Debt Instrument [Line Items] | ||
Par value | 3,509 | |
Subsidiary debt | 3,495 | 3,906 |
Subsidiary debt | AltaLink Investments, L.P. | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Subsidiary debt | 0 | 158 |
Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Par value | 3,504 | |
Subsidiary debt | $ 3,490 | 3,742 |
Series 15-1 Senior Bonds, 2.244%, due 2022 | Subsidiary debt | AltaLink Investments, L.P. | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.244% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 158 |
Series 2012-2 Notes, 2.978%, due 2022 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.978% | |
Par value | $ 0 | |
Subsidiary debt | $ 0 | 218 |
Series 2013-4 Notes, 3.668%, due 2023 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.668% | |
Par value | $ 369 | |
Subsidiary debt | $ 369 | 395 |
Series 2014-1 Notes, 3.399%, due 2024 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.399% | |
Par value | $ 258 | |
Subsidiary debt | $ 258 | 277 |
Series 2016-1 Notes, 2.747%, due 2026 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.747% | |
Par value | $ 258 | |
Subsidiary debt | $ 258 | 276 |
Series 2020-1 Notes, 1.509%, due 2030 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.509% | |
Par value | $ 166 | |
Subsidiary debt | $ 165 | 177 |
Series 2022-1 Notes, 4.692%, due 2032 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.692% | |
Par value | $ 203 | |
Subsidiary debt | $ 202 | 0 |
Series 2006-1 Notes, 5.249%, due 2036 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.249% | |
Par value | $ 111 | |
Subsidiary debt | $ 111 | 118 |
Series 2010-1 Notes, 5.381%, due 2040 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.381% | |
Par value | $ 92 | |
Subsidiary debt | $ 92 | 99 |
Series 2010-2 Notes, 4.872%, due 2040 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.872% | |
Par value | $ 111 | |
Subsidiary debt | $ 110 | 118 |
Series 2011-1 Notes, 4.462%, due 2041 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.462% | |
Par value | $ 203 | |
Subsidiary debt | $ 202 | 217 |
Series 2012-1 Notes, 3.990%, due 2042 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.99% | |
Par value | $ 387 | |
Subsidiary debt | $ 383 | 410 |
Series 2013-3 Notes, 4.922%, due 2043 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.922% | |
Par value | $ 258 | |
Subsidiary debt | $ 258 | 276 |
Series 2014-3 Notes, 4.054%, due 2044 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.054% | |
Par value | $ 218 | |
Subsidiary debt | $ 216 | 232 |
Series 2015-1 Notes, 4.090%, due 2045 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.09% | |
Par value | $ 258 | |
Subsidiary debt | $ 257 | 275 |
Series 2016-2 Notes, 3.717%, due 2046 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.717% | |
Par value | $ 332 | |
Subsidiary debt | $ 330 | 354 |
Series 2013-1 Notes, 4.446%, due 2053 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.446% | |
Par value | $ 184 | |
Subsidiary debt | $ 184 | 197 |
Series 2014-2 Notes, 4.274%, due 2064 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.274% | |
Par value | $ 96 | |
Subsidiary debt | $ 95 | 103 |
Construction Loan, 5.620%, due 2024 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.62% | |
Par value | $ 5 | |
Subsidiary debt | $ 5 | $ 6 |
Subsidiary Debt - BHE Renewable
Subsidiary Debt - BHE Renewables (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
BHE Renewables | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,064 | |
Subsidiary debt | $ 3,027 | $ 3,043 |
Interest rate on derivatives | 100% | |
Variable rate | 9.82% | |
BHE Renewables | Subsidiary debt | Minimum | ||
Debt Instrument [Line Items] | ||
Fixed interest rate | 3.23% | 3.23% |
BHE Renewables | Subsidiary debt | Maximum | ||
Debt Instrument [Line Items] | ||
Fixed interest rate | 3.88% | 3.88% |
BHE Renewables | Subsidiary debt | Bishop Hill Holdings Senior Notes, 5.125%, due 2032 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.125% | |
Par value | $ 57 | |
Subsidiary debt | $ 56 | $ 62 |
BHE Renewables | Subsidiary debt | Solar Star Funding Senior Notes, 3.950%, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 244 | |
Subsidiary debt | $ 242 | 256 |
BHE Renewables | Subsidiary debt | Solar Star Funding Senior Notes, 5.375%, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.375% | |
Par value | $ 787 | |
Subsidiary debt | $ 781 | 819 |
BHE Renewables | Subsidiary debt | Grande Prairie Wind Senior Notes, 3.860%, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.86% | |
Par value | $ 269 | |
Subsidiary debt | $ 267 | 297 |
BHE Renewables | Subsidiary debt | Topaz Solar Farms Senior Notes, 5.750%, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
Par value | $ 573 | |
Subsidiary debt | $ 568 | 600 |
BHE Renewables | Subsidiary debt | Topaz Solar Farms Senior Notes, 4.875%, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.875% | |
Par value | $ 162 | |
Subsidiary debt | $ 160 | 170 |
BHE Renewables | Subsidiary debt | Alamo 6 Senior Notes, 4.170%, due 2042 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.17% | |
Par value | $ 190 | |
Subsidiary debt | 188 | 197 |
BHE Renewables | Subsidiary debt | Other | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Subsidiary debt | 0 | 5 |
BHE Renewables | Subsidiary debt | TX Jumbo Road Term Loan, due 2025 | ||
Debt Instrument [Line Items] | ||
Par value | 97 | |
Subsidiary debt | 96 | 117 |
BHE Renewables | Subsidiary debt | Marshall Wind Term Loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 57 | |
Subsidiary debt | 56 | 63 |
BHE Renewables | Subsidiary debt | Flat Top Wind I Term Loan, due 2028 | ||
Debt Instrument [Line Items] | ||
Par value | 102 | |
Subsidiary debt | 99 | 113 |
BHE Renewables | Subsidiary debt | Mariah Del Norte Term Loan, due 2028 | ||
Debt Instrument [Line Items] | ||
Par value | 56 | |
Subsidiary debt | 54 | 0 |
BHE Renewables | Subsidiary debt | Mariah Del Norte Term Loan, due 2032 | ||
Debt Instrument [Line Items] | ||
Par value | 142 | |
Subsidiary debt | 138 | 0 |
BHE Renewables | Subsidiary debt | Pinyon Pines I and II Term Loans, due 2034 | ||
Debt Instrument [Line Items] | ||
Par value | 328 | |
Subsidiary debt | $ 322 | $ 344 |
Subsidiary Debt - HomeServices
Subsidiary Debt - HomeServices (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | $ 36,659 |
HomeServices | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 140 | |
Subsidiary debt | $ 140 | $ 148 |
HomeServices | Subsidiary debt | Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.242% | 0.95% |
Par value | $ 140 | |
Subsidiary debt | $ 140 | $ 148 |
Subsidiary Debt - Maturity Sche
Subsidiary Debt - Maturity Schedule (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Debt Instrument [Line Items] | |
2023 | $ 3,201 |
2024 | 3,018 |
2025 | 2,658 |
2026 | 1,430 |
2027 | 915 |
2028 and thereafter | 40,480 |
Total | 51,702 |
Subsidiary debt | |
Debt Instrument [Line Items] | |
Total | 37,501 |
PAC | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 449 |
2024 | 591 |
2025 | 302 |
2026 | 100 |
2027 | 0 |
2028 and thereafter | 8,300 |
Total | 9,742 |
MidAmerican Funding LLC | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 317 |
2024 | 538 |
2025 | 15 |
2026 | 3 |
2027 | 378 |
2028 and thereafter | 6,806 |
Total | 8,057 |
NV Energy | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 250 |
2024 | 300 |
2025 | 0 |
2026 | 400 |
2027 | 0 |
2028 and thereafter | 3,436 |
Total | 4,386 |
Northern Powergrid | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 56 |
2024 | 57 |
2025 | 435 |
2026 | 75 |
2027 | 302 |
2028 and thereafter | 2,160 |
Total | 3,085 |
BHE Pipeline Group | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 650 |
2024 | 1,050 |
2025 | 0 |
2026 | 268 |
2027 | 0 |
2028 and thereafter | 3,550 |
Total | 5,518 |
BHE Transmission | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 368 |
2024 | 263 |
2025 | 0 |
2026 | 258 |
2027 | 0 |
2028 and thereafter | 2,620 |
Total | 3,509 |
BHE Renewables | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 203 |
2024 | 210 |
2025 | 241 |
2026 | 218 |
2027 | 235 |
2028 and thereafter | 1,957 |
Total | 3,064 |
HomeServices | Subsidiary debt | |
Debt Instrument [Line Items] | |
2023 | 8 |
2024 | 9 |
2025 | 15 |
2026 | 108 |
2027 | 0 |
2028 and thereafter | 0 |
Total | 140 |
BHE | Senior notes | |
Debt Instrument [Line Items] | |
2023 | 900 |
2024 | 0 |
2025 | 1,650 |
2026 | 0 |
2027 | 0 |
2028 and thereafter | 11,551 |
Total | 14,101 |
BHE | Junior subordinated debt | |
Debt Instrument [Line Items] | |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
2027 | 0 |
2028 and thereafter | 100 |
Total | $ 100 |
Long-term Debt - PAC (Details)
Long-term Debt - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
Current portion of long-term debt | 3,201 | 1,265 |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Subsidiary debt | 37,539 | 36,659 |
PAC | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 9,666 | 8,730 |
Current portion of long-term debt | 449 | 155 |
Long-term debt | 9,217 | 8,575 |
Maximum amount of additional long-term debt approved by regulators | 900 | |
Eligible property subject to lien of mortgages | 33,000 | |
PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 9,742 | |
Subsidiary debt | $ 9,666 | $ 8,730 |
2.95% to 8.23%, due through 2026 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 4.07% | 4.41% |
2.95% to 8.23%, due through 2026 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,224 | |
Subsidiary debt | $ 1,223 | $ 1,377 |
2.70% to 7.70%, due 2029 to 2031 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 4.35% | 4.35% |
2.70% to 7.70%, due 2029 to 2031 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,100 | |
Subsidiary debt | $ 1,095 | $ 1,094 |
5.25% to 6.25%, due 2034 to 2037 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 5.90% | 5.90% |
5.25% to 6.25%, due 2034 to 2037 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 2,050 | |
Subsidiary debt | $ 2,042 | $ 2,042 |
4.10% to 6.35%, due 2038 to 2042 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 5.63% | 5.63% |
4.10% to 6.35%, due 2038 to 2042 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,250 | |
Subsidiary debt | $ 1,239 | $ 1,238 |
2.90% to 5.35%, due 2049 to 2053 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 4.03% | 3.52% |
2.90% to 5.35%, due 2049 to 2053 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 3,900 | |
Subsidiary debt | $ 3,849 | $ 2,761 |
Due 2025 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 4.10% | 0.12% |
Due 2025 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 25 | |
Subsidiary debt | $ 25 | $ 25 |
Due 2024 to 2025 | PAC | ||
Debt Instrument [Line Items] | ||
Average interest rate | 3.81% | 0.13% |
Due 2024 to 2025 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 193 | |
Subsidiary debt | 193 | $ 193 |
Long-term Debt | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 9,742 | |
Total long-term debt | $ 9,666 | $ 8,730 |
First Mortgage Bonds, 5.35%, Due 2053 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.35% | |
Par value | $ 1,100 | |
Minimum | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Variable rate | 3.75% | 0.12% |
Minimum | 2.95% to 8.23%, due through 2026 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
Minimum | 2.95% to 8.23%, due through 2026 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
Minimum | 2.70% to 7.70%, due 2029 to 2031 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
Minimum | 2.70% to 7.70%, due 2029 to 2031 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
Minimum | 5.25% to 6.25%, due 2034 to 2037 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
Minimum | 5.25% to 6.25%, due 2034 to 2037 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
Minimum | 4.10% to 6.35%, due 2038 to 2042 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
Minimum | 4.10% to 6.35%, due 2038 to 2042 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
Minimum | 2.90% to 5.35%, due 2049 to 2053 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
Minimum | 2.90% to 5.35%, due 2049 to 2053 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
Maximum | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Variable rate | 4.10% | 0.14% |
Maximum | 2.95% to 8.23%, due through 2026 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.23% | |
Maximum | 2.95% to 8.23%, due through 2026 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.23% | |
Maximum | 2.70% to 7.70%, due 2029 to 2031 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
Maximum | 2.70% to 7.70%, due 2029 to 2031 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
Maximum | 5.25% to 6.25%, due 2034 to 2037 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.25% | |
Maximum | 5.25% to 6.25%, due 2034 to 2037 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.25% | |
Maximum | 4.10% to 6.35%, due 2038 to 2042 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
Maximum | 4.10% to 6.35%, due 2038 to 2042 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
Maximum | 2.90% to 5.35%, due 2049 to 2053 | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.35% | |
Maximum | 2.90% to 5.35%, due 2049 to 2053 | PAC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.35% |
Long-term Debt - PAC - Maturity
Long-term Debt - PAC - Maturity Schedule (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
2023 | $ 3,201 | |
2024 | 3,018 | |
2025 | 2,658 | |
2026 | 1,430 | |
2027 | 915 | |
2028 and thereafter | 40,480 | |
Total | 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
PAC | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 9,666 | $ 8,730 |
PAC | Long-term Debt | ||
Debt Instrument [Line Items] | ||
2023 | 449 | |
2024 | 591 | |
2025 | 302 | |
2026 | 100 | |
2027 | 0 | |
2028 and thereafter | 8,300 | |
Total | 9,742 | |
Unamortized discount and debt issuance costs | (76) | |
Total long-term debt | $ 9,666 |
Long-term Debt - MEC (Details)
Long-term Debt - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Current portion of long-term debt | 3,201 | $ 1,265 |
Total long-term debt | 51,635 | 49,762 |
Maturity Schedule | ||
2023 | 3,201 | |
2024 | 3,018 | |
2025 | 2,658 | |
2026 | 1,430 | |
2027 | 915 | |
2028 and thereafter | 40,480 | |
MidAmerican Energy | ||
Maturity Schedule | ||
Eligible property subject to lien of mortgages | 24,000 | |
MEC | ||
Debt Instrument [Line Items] | ||
Par value | 7,818 | |
Subsidiary debt | 7,729 | 7,721 |
Current portion of long-term debt | 317 | 0 |
Long-term debt | 7,412 | 7,721 |
Total long-term debt | 7,729 | 7,721 |
Maturity Schedule | ||
2023 | 317 | |
2024 | 538 | |
2025 | 15 | |
2026 | 3 | |
2027 | 378 | |
2028 and thereafter | $ 6,567 | |
MEC | Committed common equity percentage to regulators | ||
Maturity Schedule | ||
Common equity to total capitalization percentage | 42% | |
MEC | Committed common equity percentage to regulators beyond companies control | ||
Maturity Schedule | ||
Common equity to total capitalization percentage below which reasonable efforts to maintain agreed to percentage is not required | 39% | |
MEC | Common equity level to total capitalization | ||
Maturity Schedule | ||
Common equity level to total capitalization | 55% | |
MEC | Dividend restriction for common equity commitment | ||
Maturity Schedule | ||
Amount available for dividend distribution | $ 4,200 | |
3.70%, due 2023 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 250 | |
Subsidiary debt | $ 250 | 250 |
3.50%, due 2024 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.50% | |
Par value | $ 500 | |
Subsidiary debt | $ 500 | 501 |
3.10%, due 2027 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.10% | |
Par value | $ 375 | |
Subsidiary debt | $ 374 | 373 |
3.65%, due 2029 | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.65% | |
3.65%, due 2029 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.65% | |
Par value | $ 850 | |
Subsidiary debt | $ 859 | 860 |
4.80%, due 2043 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 347 | 346 |
4.40%, due 2044 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.40% | |
Par value | $ 400 | |
Subsidiary debt | $ 395 | 395 |
4.25%, due 2046 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.25% | |
Par value | $ 450 | |
Subsidiary debt | $ 446 | 446 |
3.95%, due 2047 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 475 | |
Subsidiary debt | $ 471 | 470 |
3.65%, due 2048 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.65% | |
Par value | $ 700 | |
Subsidiary debt | $ 689 | 689 |
4.25%, due 2049 | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.25% | |
4.25%, due 2049 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.25% | |
Par value | $ 900 | |
Subsidiary debt | $ 875 | 874 |
3.15%, due 2050 | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.15% | |
3.15%, due 2050 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.15% | |
Par value | $ 600 | |
Subsidiary debt | $ 592 | 592 |
2.70%, due 2052 | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
2.70%, due 2052 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
Par value | $ 500 | |
Subsidiary debt | $ 492 | 492 |
6.75% Series, due 2031 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 400 | |
Subsidiary debt | $ 397 | 397 |
5.75% Series, due 2035 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
Par value | $ 300 | |
Subsidiary debt | $ 298 | 298 |
5.80% Series, due 2036 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 348 | $ 348 |
Transmission upgrade obligation, 3.20% to 7.81%, due 2036 to 2042 | MEC | ||
Debt Instrument [Line Items] | ||
Vendor financing, discount rate applied | 3.20% | 7.81% |
Par value | $ 48 | |
Subsidiary debt | $ 27 | $ 22 |
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2022-3.83%, 2021-0.13%): | MEC | ||
Debt Instrument [Line Items] | ||
Variable rate | 3.83% | 0.13% |
Due 2023, issued in 1993 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | $ 7 | |
Subsidiary debt | 7 | $ 7 |
Due 2023, issued in 2008 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 57 | |
Subsidiary debt | 57 | 57 |
Due 2024 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 35 | |
Subsidiary debt | 35 | 35 |
Due 2025 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 13 | |
Subsidiary debt | 13 | 13 |
Due 2036 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 33 | |
Subsidiary debt | 33 | 33 |
Due 2038 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 45 | |
Subsidiary debt | 45 | 45 |
Due 2046 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 30 | |
Subsidiary debt | 30 | 29 |
Due 2047 | MEC | ||
Debt Instrument [Line Items] | ||
Par value | 150 | |
Subsidiary debt | $ 149 | $ 149 |
Long-term Debt - MidAmerican Fu
Long-term Debt - MidAmerican Funding LLC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
BHE restricted net assets | 18,800 | |
MidAmerican Funding, LLC | ||
Debt Instrument [Line Items] | ||
BHE restricted net assets | 5,400 | |
MidAmerican Funding LLC | 6.927% Senior Bonds, due 2029 | MidAmerican Funding LLC | ||
Debt Instrument [Line Items] | ||
Par value | $ 239 | |
Stated rate | 6.927% | |
Subsidiary debt | $ 240 | $ 240 |
Long-term Debt - NPC (Details)
Long-term Debt - NPC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
2024 | 3,018 | |
2028 and thereafter | 40,480 | |
Total | 51,702 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Total | 37,501 | |
NPC | ||
Debt Instrument [Line Items] | ||
Par value | 3,234 | |
Total long-term debt | 3,195 | $ 2,499 |
Total | 3,234 | |
Eligible property subject to lien of mortgages | 9,800 | |
NPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 3,195 | |
2024 | 300 | |
2028 and thereafter | 2,934 | |
Unamortized discount and debt issuance costs | (39) | |
NV Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 4,386 | |
2024 | 300 | |
2028 and thereafter | 3,436 | |
Total | 4,386 | |
NV Energy | NPC | 3.700% Series CC, due 2029 | ||
Debt Instrument [Line Items] | ||
Par value | 500 | |
Total | 500 | |
NV Energy | NPC | 2.400% Series DD, due 2030 | ||
Debt Instrument [Line Items] | ||
Par value | 425 | |
Total | 425 | |
NV Energy | NPC | 6.650% Series N, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 367 | |
Total | 367 | |
NV Energy | NPC | 6.750% Series R, due 2037 | ||
Debt Instrument [Line Items] | ||
Par value | 349 | |
Total | 349 | |
NV Energy | NPC | 5.375% Series X, due 2040 | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Total | 250 | |
NV Energy | NPC | 5.450% Series Y, due 2041 | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Total | 250 | |
NV Energy | NPC | 3.125% Series EE, due 2050 | ||
Debt Instrument [Line Items] | ||
Par value | 300 | |
Total | 300 | |
NV Energy | NPC | 5.900% Series GG, due 2053 | ||
Debt Instrument [Line Items] | ||
Par value | 400 | |
Total | 400 | |
NV Energy | NPC | 1.875% Pollution Control Bonds Series 2017A, due 2032 | ||
Debt Instrument [Line Items] | ||
Par value | 40 | |
Total | 40 | |
NV Energy | NPC | 1.650% Pollution Control Bonds Series 2017, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 40 | |
Total | 40 | |
NV Energy | NPC | 1.650% Pollution Control Bonds Series 2017B, due 2039 | ||
Debt Instrument [Line Items] | ||
Par value | 13 | |
Total | 13 | |
NV Energy | NPC | Variable-rate 4.821% Term Loan, due 2024 | ||
Debt Instrument [Line Items] | ||
Par value | 300 | |
Total | 300 | |
NV Energy | NPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,234 | |
Total | $ 3,234 | |
NV Energy | NPC | Subsidiary debt | 3.700% Series CC, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | 3.70% |
Total long-term debt | $ 497 | $ 497 |
NV Energy | NPC | Subsidiary debt | 2.400% Series DD, due 2030 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.40% | 2.40% |
Total long-term debt | $ 422 | $ 422 |
NV Energy | NPC | Subsidiary debt | 6.650% Series N, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.65% | 6.65% |
Total long-term debt | $ 360 | $ 359 |
NV Energy | NPC | Subsidiary debt | 6.750% Series R, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | 6.75% |
Total long-term debt | $ 346 | $ 346 |
NV Energy | NPC | Subsidiary debt | 5.375% Series X, due 2040 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.375% | 5.375% |
Total long-term debt | $ 248 | $ 248 |
NV Energy | NPC | Subsidiary debt | 5.450% Series Y, due 2041 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.45% | 5.45% |
Total long-term debt | $ 239 | $ 239 |
NV Energy | NPC | Subsidiary debt | 3.125% Series EE, due 2050 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.125% | 3.125% |
Total long-term debt | $ 298 | $ 297 |
NV Energy | NPC | Subsidiary debt | 5.900% Series GG, due 2053 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.90% | |
Total long-term debt | $ 394 | $ 0 |
NV Energy | NPC | Subsidiary debt | 1.875% Pollution Control Bonds Series 2017A, due 2032 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.875% | 1.875% |
Total long-term debt | $ 39 | $ 39 |
NV Energy | NPC | Subsidiary debt | 1.650% Pollution Control Bonds Series 2017, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.65% | 1.65% |
Total long-term debt | $ 39 | $ 39 |
NV Energy | NPC | Subsidiary debt | 1.650% Pollution Control Bonds Series 2017B, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.65% | 1.65% |
Total long-term debt | $ 13 | $ 13 |
NV Energy | NPC | Subsidiary debt | Variable-rate 4.821% Term Loan, due 2024 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.821% | 4.821% |
Total long-term debt | $ 300 | $ 0 |
Long-term Debt - SPPC (Details)
Long-term Debt - SPPC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Par value | $ 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
Current portion of long-term debt | 3,201 | 1,265 |
Maturity Schedule | ||
2023 | 3,201 | |
2026 | 1,430 | |
2028 and thereafter | 40,480 | |
Total | 51,702 | |
Total long-term debt | 51,635 | 49,762 |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 37,501 | |
Maturity Schedule | ||
Total | 37,501 | |
SPPC | ||
Debt Instrument [Line Items] | ||
Par value | 1,152 | |
Total long-term debt | 1,148 | 1,164 |
Current portion of long-term debt | 250 | 0 |
Long-term debt | 898 | 1,164 |
Maturity Schedule | ||
Total | 1,152 | |
Total long-term debt | 1,148 | $ 1,164 |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 1,148 | |
Maturity Schedule | ||
2023 | 250 | |
2026 | 400 | |
2028 and thereafter | 502 | |
Unamortized discount and debt issuance costs | (4) | |
Total long-term debt | 1,148 | |
NV Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 4,386 | |
Maturity Schedule | ||
2023 | 250 | |
2026 | 400 | |
2028 and thereafter | 3,436 | |
Total | 4,386 | |
NV Energy | SPPC | 3.375% Series T, due 2023 | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Maturity Schedule | ||
Total | 250 | |
NV Energy | SPPC | 2.600% Series U, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 400 | |
Maturity Schedule | ||
Total | 400 | |
NV Energy | SPPC | 6.750% Series P, due 2037 | ||
Debt Instrument [Line Items] | ||
Par value | 252 | |
Maturity Schedule | ||
Total | 252 | |
NV Energy | SPPC | 4.710% Series W, due 2052 | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Maturity Schedule | ||
Total | 250 | |
NV Energy | SPPC | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Maturity Schedule | ||
Total | 0 | |
NV Energy | SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,152 | |
Maturity Schedule | ||
Total | $ 1,152 | |
NV Energy | SPPC | Subsidiary debt | 3.375% Series T, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.375% | 3.375% |
Total long-term debt | $ 249 | $ 249 |
Maturity Schedule | ||
Total long-term debt | $ 249 | $ 249 |
NV Energy | SPPC | Subsidiary debt | 2.600% Series U, due 2026 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.60% | 2.60% |
Total long-term debt | $ 397 | $ 397 |
Maturity Schedule | ||
Total long-term debt | $ 397 | $ 397 |
NV Energy | SPPC | Subsidiary debt | 6.750% Series P, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | 6.75% |
Total long-term debt | $ 254 | $ 253 |
Maturity Schedule | ||
Total long-term debt | $ 254 | $ 253 |
NV Energy | SPPC | Subsidiary debt | 4.710% Series W, due 2052 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.71% | 4.71% |
Total long-term debt | $ 248 | $ 0 |
Maturity Schedule | ||
Total long-term debt | $ 248 | $ 0 |
NV Energy | SPPC | Subsidiary debt | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | 1.85% |
Total long-term debt | $ 0 | $ 30 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 30 |
NV Energy | SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3% | 3% |
Total long-term debt | $ 0 | $ 60 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 60 |
NV Energy | SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | 0.625% |
Total long-term debt | $ 0 | $ 30 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 30 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Total long-term debt | $ 0 | $ 25 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 25 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Total long-term debt | $ 0 | $ 25 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 25 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Total long-term debt | $ 0 | $ 75 |
Maturity Schedule | ||
Total long-term debt | $ 0 | $ 75 |
NV Energy | SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | 1.85% |
Total long-term debt | $ 0 | $ 20 |
Maturity Schedule | ||
Total long-term debt | 0 | $ 20 |
SPPC | ||
Maturity Schedule | ||
Eligible property subject to lien of mortgages | 4,900 | |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,152 | |
Maturity Schedule | ||
Total | $ 1,152 | |
SPPC | Subsidiary debt | 3.375% Series T, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.375% | |
Par value | $ 250 | |
Maturity Schedule | ||
Total | $ 250 | |
SPPC | Subsidiary debt | 2.600% Series U, due 2026 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.60% | |
Par value | $ 400 | |
Maturity Schedule | ||
Total | $ 400 | |
SPPC | Subsidiary debt | 6.750% Series P, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 252 | |
Maturity Schedule | ||
Total | $ 252 | |
SPPC | Subsidiary debt | 4.710% Series W, due 2052 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.71% | |
Par value | $ 250 | |
Maturity Schedule | ||
Total | $ 250 | |
SPPC | Subsidiary debt | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 | |
SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 0 | |
Maturity Schedule | ||
Total | $ 0 |
Long-term Debt - EEGH (Details)
Long-term Debt - EEGH (Details) € in Millions, $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) |
Debt Instrument [Line Items] | ||||
Par value | $ 51,702 | |||
Total long-term debt | 51,635 | $ 49,762 | ||
Current portion of long-term debt | 3,201 | 1,265 | ||
Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | 37,539 | 36,659 | ||
Par value | 37,501 | |||
Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | 3,892 | 3,906 | ||
Par value | 3,918 | |||
Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 1,600 | |||
2.875% Senior Notes, due 2023 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 250 | 250 | ||
Stated rate | 2.875% | 2.875% | ||
Par value | $ 250 | |||
3.55% Senior Notes, due 2023 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 399 | 399 | ||
Stated rate | 3.55% | 3.55% | ||
Par value | $ 400 | |||
2.50% Senior Notes, due 2024 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 598 | 597 | ||
Stated rate | 2.50% | 2.50% | ||
Par value | $ 600 | |||
3.60% Senior Notes, due 2024 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 338 | 338 | ||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 339 | |||
3.32% Senior Notes, due 2026 (€250) | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 267 | $ 283 | ||
Stated rate | 3.32% | 3.32% | ||
Par value | $ 268 | € 250 | ||
Interest rate on derivatives | 100% | 100% | ||
Fixed interest rate | 3.32% | 3.32% | 3.32% | |
Outstanding principal amount including swap | $ 280 | $ 280 | ||
3.00% Senior Notes, due 2029 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 173 | 173 | ||
Stated rate | 3% | 3% | ||
Par value | $ 174 | |||
3.80% Senior Notes, due 2031 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 150 | 150 | ||
Stated rate | 3.80% | 3.80% | ||
Par value | $ 150 | |||
4.80% Senior Notes, due 2043 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 53 | 53 | ||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 54 | |||
4.60% Senior Notes, due 2044 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 56 | 56 | ||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 56 | |||
3.90% Senior Notes, due 2049 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 26 | 26 | ||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 27 | |||
3.60% Senior Notes, due 2024 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 110 | 110 | ||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 111 | |||
3.00% Senior Notes, due 2029 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 422 | 422 | ||
Stated rate | 3% | 3% | ||
Par value | $ 426 | |||
4.80% Senior Notes, due 2043 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 342 | 341 | ||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 346 | |||
4.60% Senior Notes, due 2044 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 437 | 437 | ||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 444 | |||
3.90% Senior Notes, due 2049 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Subsidiary debt | $ 271 | 271 | ||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 273 | |||
EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,918 | |||
Total long-term debt | 3,892 | 3,906 | ||
Current portion of long-term debt | 649 | 0 | ||
Long-term debt | 3,243 | 3,906 | ||
EEGH | EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,918 | |||
Total long-term debt | $ 3,892 | 3,906 | ||
EEGH | 2.875% Senior Notes, due 2023 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.875% | 2.875% | ||
Par value | $ 250 | |||
Total long-term debt | $ 250 | 250 | ||
EEGH | 3.55% Senior Notes, due 2023 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.55% | 3.55% | ||
Par value | $ 400 | |||
Total long-term debt | $ 399 | 399 | ||
EEGH | 2.50% Senior Notes, due 2024 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.50% | 2.50% | ||
Par value | $ 600 | |||
Total long-term debt | $ 598 | 597 | ||
EEGH | 3.60% Senior Notes, due 2024 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 339 | |||
Total long-term debt | $ 338 | 338 | ||
EEGH | 3.32% Senior Notes, due 2026 (€250) | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.32% | 3.32% | ||
Par value | $ 268 | € 250 | ||
Total long-term debt | $ 267 | 283 | ||
EEGH | 3.00% Senior Notes, due 2029 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3% | 3% | ||
Par value | $ 174 | |||
Total long-term debt | $ 173 | 173 | ||
EEGH | 3.80% Senior Notes, due 2031 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.80% | 3.80% | ||
Par value | $ 150 | |||
Total long-term debt | $ 150 | 150 | ||
EEGH | 4.80% Senior Notes, due 2043 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 54 | |||
Total long-term debt | $ 53 | 53 | ||
EEGH | 4.60% Senior Notes, due 2044 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 56 | |||
Total long-term debt | $ 56 | 56 | ||
EEGH | 3.90% Senior Notes, due 2049 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 27 | |||
Total long-term debt | 26 | 26 | ||
EGTS | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,600 | |||
Total long-term debt | 1,582 | 1,581 | ||
Long-term debt | $ 1,582 | $ 1,581 |
Long-term Debt - EEGH - Maturit
Long-term Debt - EEGH - Maturity Schedule (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
2023 | $ 3,201 | |
2024 | 3,018 | |
2025 | 2,658 | |
2026 | 1,430 | |
2027 | 915 | |
2028 and thereafter | 40,480 | |
Total | 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
EEGH | ||
Debt Instrument [Line Items] | ||
2023 | 650 | |
2024 | 1,050 | |
2025 | 0 | |
2026 | 268 | |
2027 | 0 | |
2028 and thereafter | 1,950 | |
Total | 3,918 | |
Unamortized discount and debt issuance costs | (26) | |
Total long-term debt | $ 3,892 | $ 3,906 |
Long-term Debt - EGTS (Details)
Long-term Debt - EGTS (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Jun. 30, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||||
Par value | $ 51,702 | |||
Long-term debt | 51,635 | $ 49,762 | ||
EGTS | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,600 | |||
Unrealized losses on cash flow hedges, net of tax | $ 32 | (1) | 31 | $ 0 |
Debt extinguished | 1,900 | |||
Long-term debt | 1,582 | 1,581 | ||
EGTS | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,600 | |||
Unamortized discounts and debt issuance costs | 17 | |||
Payments of debt issuance costs | $ 2 | |||
EGTS | 3.60% Senior Notes, due 2024 | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 111 | |||
Stated rate | 3.60% | |||
Long-term debt | $ 110 | 110 | ||
EGTS | 3.00% Senior Notes, due 2029 | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 426 | |||
Stated rate | 3% | |||
Long-term debt | $ 422 | 422 | ||
EGTS | 4.80% Senior Notes, due 2043 | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 346 | |||
Stated rate | 4.80% | |||
Long-term debt | $ 342 | 341 | ||
EGTS | 4.60% Senior Notes, due 2044 | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 444 | |||
Stated rate | 4.60% | |||
Long-term debt | $ 437 | 437 | ||
EGTS | 3.90% Senior Notes, due 2049 | Senior notes | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 273 | |||
Stated rate | 3.90% | |||
Long-term debt | $ 271 | $ 271 |
Long-term Debt - EGTS - Maturit
Long-term Debt - EGTS - Maturity Schedule (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
2023 | $ 3,201 | |
2024 | 3,018 | |
2025 | 2,658 | |
2026 | 1,430 | |
2027 | 915 | |
2028 and thereafter | 40,480 | |
Total | 51,702 | |
Total long-term debt | 51,635 | $ 49,762 |
EGTS | ||
Debt Instrument [Line Items] | ||
2023 | 0 | |
2024 | 111 | |
2025 | 0 | |
2026 | 0 | |
2027 | 0 | |
2028 and thereafter | 1,489 | |
Total | 1,600 | |
Unamortized discount and debt issuance costs | (18) | |
Total long-term debt | $ 1,582 | $ 1,581 |
Long-term Debt - EGTS - AOCI (D
Long-term Debt - EGTS - AOCI (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | |||
Interest expense | $ 2,216 | $ 2,118 | $ 2,021 |
EGTS | |||
Debt Instrument [Line Items] | |||
Interest expense | 69 | 78 | $ 89 |
Interest rate contracts | EGTS | |||
Debt Instrument [Line Items] | |||
AOCI After-Tax | (30) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | $ (2) | ||
Maximum Term | 264 months | ||
Interest rate contracts | EGTS | Reclassification out of Accumulated Other Comprehensive Income | Cash flow hedge | |||
Debt Instrument [Line Items] | |||
Interest expense | $ 2 | $ 1 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Long-term income tax receivable | $ 0 | $ 744 | ||
Operating loss carryforwards | $ 10,570 | |||
Years eligible for renewable energy production tax credit | 10 years | |||
Production tax credits | $ 1,700 | $ 1,400 | $ 1,200 | |
Change in tax status | (6.00%) | (2.00%) | 0% | |
Unrecognized tax benefits | $ 79 | $ 100 | ||
United Kingdom | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in enacted tax rate | 105 | |||
United Kingdom | Corporate tax rate, effective April 1, 2020 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 19% | |||
United Kingdom | Corporate tax rate, effective April 2023 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 25% | |||
United Kingdom | Corporate tax rate, effective April 1, 2020 further reduction | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 17% | |||
State | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Operating loss carryforwards | $ 9,653 | |||
State | Iowa Senate File 2417 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Operating loss carryforwards | 100 | |||
Long-Term Income Tax Receivable | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Long-term income tax receivable adjustments | $ 744 | |||
Parent Company | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Income tax receivable (payable), related parties current | $ (113) | 324 | ||
Long-term income tax receivable | $ 744 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Foreign | 79 | 100 | 86 |
Total current | (1,449) | (1,778) | (1,572) |
Deferred: | |||
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Foreign | (5) | 89 | 21 |
Total deferred | (462) | 650 | 1,883 |
Investment tax credits | (5) | (4) | (3) |
Total | $ (1,916) | $ (1,132) | $ 308 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Income tax credits | (124.00%) | (27.00%) | (16.00%) |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Change in tax status | (6.00%) | (2.00%) | 0% |
Income tax effect of foreign income | (4.00%) | 1% | 0% |
Equity loss | (3.00%) | (1.00%) | 0% |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
Federal, state and foreign carryforwards | 812 | 820 |
AROs | 283 | 304 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Valuation allowances | (187) | (164) |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Investments | (1,998) | (2,877) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | $ (12,678) | $ (12,938) |
Income Taxes - Summary of Opera
Income Taxes - Summary of Operating Loss Carryforwards (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 10,570 |
Deferred income taxes on net operating loss carryforwards | 769 |
Tax credits | 43 |
Federal | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 192 |
Deferred income taxes on net operating loss carryforwards | 41 |
Tax credits | 15 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 9,653 |
Deferred income taxes on net operating loss carryforwards | 562 |
Tax credits | 28 |
Foreign | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 725 |
Deferred income taxes on net operating loss carryforwards | 166 |
Tax credits | $ 0 |
Income Taxes -Reconciliation of
Income Taxes -Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 97 | $ 153 |
Additions based on tax positions related to the current year | 15 | 24 |
Additions for tax positions of prior years | 0 | 13 |
Reductions based on tax positions related to the current year | (12) | (19) |
Reductions for tax positions of prior years | (23) | (83) |
Settlements | 0 | (1) |
Interest and penalties | (9) | 10 |
Ending balance | $ 68 | $ 97 |
Income Taxes - PAC - Components
Income Taxes - PAC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Total current | (1,449) | (1,778) | (1,572) |
Deferred: | |||
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Total deferred | (462) | 650 | 1,883 |
Investment tax credits | (5) | (4) | (3) |
Total | (1,916) | (1,132) | 308 |
PAC | |||
Current: | |||
Federal | (216) | (150) | 19 |
State | (3) | 7 | 30 |
Total current | (219) | (143) | 49 |
Deferred: | |||
Federal | 90 | 26 | (124) |
State | 71 | 40 | 1 |
Total deferred | 161 | 66 | (123) |
Investment tax credits | (4) | (2) | (1) |
Total | $ (62) | $ (79) | $ (75) |
Income Taxes - PAC - Reconcilia
Income Taxes - PAC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
Income tax credits | (124.00%) | (27.00%) | (16.00%) |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
PAC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | 3% | 3% | 3% |
Effects of ratemaking | (12.00%) | (14.00%) | (22.00%) |
Income tax credits | (22.00%) | (20.00%) | (13.00%) |
Valuation allowances | 2% | 0% | 0% |
Other, net | 1% | 0% | 0% |
Effective income tax rate | (7.00%) | (10.00%) | (11.00%) |
Income Taxes - PAC - Narrative
Income Taxes - PAC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
Production tax credits | $ 1,700 | $ 1,400 | $ 1,200 |
PAC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
Production tax credits | $ 185 | 164 | 89 |
Effective income tax reconciliation, amortization of excess deferred income taxes | $ 102 | 112 | 132 |
PAC | State | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Effective income tax reconciliation, amortization of excess deferred income taxes | $ 4 | $ 118 |
Income Taxes - PAC - Componen_2
Income Taxes - PAC - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
AROs | 283 | 304 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Valuation allowances | (187) | (164) |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
PAC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 724 | 682 |
Employee benefits | 59 | 68 |
State carryforwards | 73 | 73 |
Loss contingencies | 107 | 63 |
AROs | 79 | 73 |
Other | 80 | 88 |
Total deferred income tax assets | 1,122 | 1,047 |
Valuation allowances | (35) | (15) |
Total deferred income tax assets, net | 1,087 | 1,032 |
Deferred income tax liabilities: | ||
Property-related items | (3,612) | (3,468) |
Regulatory assets | (462) | (332) |
Other | (165) | (79) |
Total deferred income tax liabilities | (4,239) | (3,879) |
Net deferred income tax liability | $ (3,152) | $ (2,847) |
Income Taxes - PAC - Summary of
Income Taxes - PAC - Summary of Operating Loss Carryforwards (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 10,570 |
Deferred income taxes on net operating loss carryforwards | 769 |
Tax credits | 43 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 9,653 |
Deferred income taxes on net operating loss carryforwards | 562 |
Tax credits | 28 |
PAC | State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 1,159 |
Deferred income taxes on net operating loss carryforwards | 53 |
Tax credits | $ 20 |
Income Taxes - MEC - Components
Income Taxes - MEC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Total current | (1,449) | (1,778) | (1,572) |
Deferred: | |||
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Total deferred | (462) | 650 | 1,883 |
Investment tax credits | (5) | (4) | (3) |
Total | (1,916) | (1,132) | 308 |
MEC | |||
Current: | |||
Federal | (769) | (736) | (684) |
State | (34) | (92) | (94) |
Total current | (803) | (828) | (778) |
Deferred: | |||
Federal | 77 | 189 | 201 |
State | (43) | (35) | 8 |
Total deferred | 34 | 154 | 209 |
Investment tax credits | (1) | (1) | (1) |
Total | $ (770) | $ (675) | $ (570) |
Income Taxes - MEC - Reconcilia
Income Taxes - MEC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Income tax credits | (124.00%) | (27.00%) | (16.00%) |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
Years eligible for renewable energy production tax credit | 10 years | ||
MEC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Income tax credits | (372.00%) | (262.00%) | (199.00%) |
State income tax, net of federal income tax benefit | (32.00%) | (46.00%) | (27.00%) |
Effects of ratemaking | (23.00%) | (20.00%) | (17.00%) |
Other, net | 3% | (1.00%) | (1.00%) |
Effective income tax rate | (403.00%) | (308.00%) | (223.00%) |
Years eligible for renewable energy production tax credit | 10 years |
Income Taxes - MEC - Narrative
Income Taxes - MEC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Production tax credits | $ 1,700 | $ 1,400 | $ 1,200 |
MEC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Production tax credits | $ 710 | $ 574 | $ 510 |
Income Taxes - MEC - Componen_2
Income Taxes - MEC - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
AROs | 283 | 304 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Valuation allowances | (187) | (164) |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
Operating loss carryforwards | 10,570 | |
State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | 9,653 | |
MEC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 194 | 240 |
AROs | 191 | 220 |
Revenue sharing | 87 | 33 |
State carryforwards | 61 | 55 |
Employee benefits | 37 | 26 |
Other | 24 | (3) |
Total deferred income tax assets | 594 | 571 |
Valuation allowances | (2) | (1) |
Total deferred income tax assets, net | 592 | 570 |
Deferred income tax liabilities: | ||
Property-related items | (3,895) | (3,843) |
Regulatory assets | (128) | (112) |
Other | (2) | (4) |
Total deferred income tax liabilities | (4,025) | (3,959) |
Net deferred income tax liability | (3,433) | $ (3,389) |
MEC | State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | $ 921 |
Income Taxes - MEC - Net Unreco
Income Taxes - MEC - Net Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 97 | $ 153 |
Additions based on tax positions related to the current year | 15 | 24 |
Reductions based on tax positions related to the current year | (12) | (19) |
Ending balance | 68 | 97 |
Unrecognized tax benefits | 79 | 100 |
MEC | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | 13 | 8 |
Additions based on tax positions related to the current year | 15 | 16 |
Reductions based on tax positions related to the current year | (12) | (11) |
Ending balance | 16 | $ 13 |
Unrecognized tax benefits | $ 39 |
Income Taxes - MidAmerican Fund
Income Taxes - MidAmerican Funding - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Total current | (1,449) | (1,778) | (1,572) |
Deferred: | |||
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Total deferred | (462) | 650 | 1,883 |
Investment tax credits | (5) | (4) | (3) |
Total | (1,916) | (1,132) | 308 |
MidAmerican Funding, LLC | |||
Current: | |||
Federal | (773) | (739) | (689) |
State | (36) | (94) | (96) |
Total current | (809) | (833) | (785) |
Deferred: | |||
Federal | 77 | 189 | 204 |
State | (43) | (35) | 8 |
Total deferred | 34 | 154 | 212 |
Investment tax credits | (1) | (1) | (1) |
Total | $ (776) | $ (680) | $ (574) |
Income Taxes - MidAmerican Fu_2
Income Taxes - MidAmerican Funding - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Income tax credits | (124.00%) | (27.00%) | (16.00%) |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
MidAmerican Funding, LLC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Income tax credits | (416.00%) | (283.00%) | (209.00%) |
State income tax, net of federal income tax benefit | (36.00%) | (50.00%) | (29.00%) |
Effects of ratemaking | (26.00%) | (21.00%) | (17.00%) |
Other, net | 3% | (2.00%) | (1.00%) |
Effective income tax rate | (454.00%) | (335.00%) | (235.00%) |
Income Taxes - MidAmerican Fu_3
Income Taxes - MidAmerican Funding - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
Production tax credits | $ 1,700 | $ 1,400 | $ 1,200 |
MidAmerican Funding, LLC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
Production tax credits | $ 710 | $ 574 | $ 510 |
Income Taxes - MidAmerican Fu_4
Income Taxes - MidAmerican Funding - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
AROs | 283 | 304 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Valuation allowances | (187) | (164) |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
Operating loss carryforwards | 10,570 | |
MidAmerican Funding, LLC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 194 | 240 |
AROs | 192 | 220 |
Revenue sharing | 87 | 33 |
State carryforwards | 61 | 55 |
Employee benefits | 37 | 26 |
Other | 24 | (3) |
Total deferred income tax assets | 595 | 571 |
Valuation allowances | (2) | (1) |
Total deferred income tax assets, net | 593 | 570 |
Deferred income tax liabilities: | ||
Property-related items | (3,895) | (3,843) |
Regulatory assets | (128) | (112) |
Other | (1) | (2) |
Total deferred income tax liabilities | (4,024) | (3,957) |
Net deferred income tax liability | (3,431) | $ (3,387) |
State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | 9,653 | |
State | MidAmerican Funding, LLC | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | $ 921 |
Income Taxes - MidAmerican Fu_5
Income Taxes - MidAmerican Funding - Net Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 97 | $ 153 |
Additions based on tax positions related to the current year | 15 | 24 |
Reductions based on tax positions related to the current year | (12) | (19) |
Ending balance | 68 | 97 |
Unrecognized tax benefits | 79 | 100 |
MidAmerican Funding, LLC | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | 13 | 8 |
Additions based on tax positions related to the current year | 15 | 16 |
Reductions based on tax positions related to the current year | (12) | (11) |
Ending balance | 16 | $ 13 |
Unrecognized tax benefits | $ 39 |
Income Taxes - NPC - Components
Income Taxes - NPC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current | $ (1,449) | $ (1,778) | $ (1,572) |
Deferred | (462) | 650 | 1,883 |
Total | (1,916) | (1,132) | 308 |
NPC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current | (13) | 37 | 57 |
Deferred | 49 | 0 | (10) |
Total | $ 36 | $ 37 | $ 47 |
Income Taxes - NPC - Reconcilia
Income Taxes - NPC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Contingency [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
NPC | |||
Income Tax Contingency [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Effects of ratemaking | (11.00%) | (11.00%) | (8.00%) |
Other, net | 1% | 1% | 1% |
Effective income tax rate | 11% | 11% | 14% |
Income Taxes - NPC - Componen_2
Income Taxes - NPC - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Property-related items | (12,244) | (11,814) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
NPC | ||
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | 186 | 195 |
Operating and finance leases | 68 | 73 |
Customer advances | 27 | 25 |
Derivative contracts and unamortized contract values | 20 | 25 |
Other | 9 | 8 |
Total deferred income tax assets | 310 | 326 |
Property-related items | (821) | (800) |
Regulatory assets | (273) | (204) |
Operating and finance leases | (65) | (70) |
Other | (26) | (34) |
Total deferred income tax liabilities | (1,185) | (1,108) |
Net deferred income tax liability | $ (875) | $ (782) |
Income Taxes - SPPC - Component
Income Taxes - SPPC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current - Federal | $ (1,463) | $ (1,701) | $ (1,537) |
Deferred - Federal | (408) | 1,037 | 1,438 |
Total | (1,916) | (1,132) | 308 |
SPPC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current - Federal | (12) | 5 | 3 |
Deferred - Federal | 31 | 13 | 12 |
Total | $ 19 | $ 18 | $ 15 |
Income Taxes - SPPC - Reconcili
Income Taxes - SPPC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Effects of ratemaking | (16.00%) | (4.00%) | (3.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
SPPC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
Effects of ratemaking | (7.00%) | (8.00%) | (9.00%) |
Effective income tax rate | 14% | 13% | 12% |
Income Taxes - SPPC - Compone_2
Income Taxes - SPPC - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,323 | $ 1,349 |
Other | 741 | 686 |
Total deferred income tax assets | 3,159 | 3,159 |
Property-related items | (12,244) | (11,814) |
Regulatory assets | (898) | (764) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
SPPC | ||
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | 63 | 64 |
Operating and finance leases | 26 | 27 |
Customer advances | 17 | 14 |
Derivative contracts and unamortized contract values | 6 | 8 |
Other | 6 | 6 |
Total deferred income tax assets | 118 | 119 |
Property-related items | (387) | (379) |
Regulatory assets | (135) | (94) |
Operating and finance leases | (25) | (27) |
Other | (16) | (21) |
Total deferred income tax liabilities | (563) | (521) |
Net deferred income tax liability | $ (445) | $ (402) |
Income Taxes - EEGH - Component
Income Taxes - EEGH - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Total current | (1,449) | (1,778) | (1,572) |
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Total deferred | (462) | 650 | 1,883 |
Total | (1,916) | (1,132) | 308 |
EEGH | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Federal | 12 | (47) | (20) |
State | 29 | (21) | 1 |
Total current | 41 | (68) | (19) |
Federal | 88 | 129 | 23 |
State | 38 | 56 | (28) |
Total deferred | 126 | 185 | (5) |
Total | $ 167 | $ 117 | $ (24) |
Income Taxes - EEGH - Narrative
Income Taxes - EEGH - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
EEGH | ||
Schedule of Income Tax Expense (Benefit) Components [Line Items] | ||
Federal and state carryforwards | $ 23 | $ 7 |
Income Taxes - EEGH - Reconcili
Income Taxes - EEGH - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Equity income | 3% | 1% | 0% |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
EEGH | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | 6% | 3% | (13.00%) |
Equity income | 2% | 1% | 4% |
Effects of ratemaking | (1.00%) | 1% | (2.00%) |
Change in tax status | 0% | 0% | (9.00%) |
AFUDC-equity | 0% | 0% | (1.00%) |
Noncontrolling interest | (10.00%) | (11.00%) | (16.00%) |
Write-off of regulatory assets | 0% | 0% | 3% |
Other, net | 0% | 1% | 1% |
Effective income tax rate | 18% | 16% | (12.00%) |
Income Taxes - EEGH - Compone_2
Income Taxes - EEGH - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Other | $ 741 | $ 686 |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Other | (510) | (478) |
Total deferred income tax liabilities | (15,650) | (15,933) |
Net deferred income tax liability | (12,678) | (12,938) |
EEGH | ||
Deferred income tax assets: | ||
Federal and state carryforwards | 23 | 7 |
Employee benefits | 22 | 33 |
Intangibles | 112 | 150 |
Derivatives and hedges | 16 | 16 |
Other | 7 | 9 |
Total deferred income tax assets, net | 180 | 215 |
Deferred income tax liabilities: | ||
Property-related items | (214) | (129) |
Partnership investments | (51) | (49) |
Debt exchange | (53) | (60) |
Deferred state income taxes | (4) | (16) |
Other | (12) | (16) |
Total deferred income tax liabilities | (334) | (270) |
Net deferred income tax liability | $ (154) | $ (55) |
Income Taxes - EGTS - Component
Income Taxes - EGTS - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal | $ (1,463) | $ (1,701) | $ (1,537) |
State | (65) | (177) | (121) |
Total current | (1,449) | (1,778) | (1,572) |
Deferred: | |||
Federal | (408) | 1,037 | 1,438 |
State | (49) | (476) | 424 |
Total deferred | (462) | 650 | 1,883 |
Total | (1,916) | (1,132) | 308 |
EGTS | |||
Current: | |||
Federal | 5 | (22) | 48 |
State | 12 | (10) | 6 |
Total current | 17 | (32) | 54 |
Deferred: | |||
Federal | 64 | 67 | (93) |
State | 28 | 26 | (28) |
Total deferred | 92 | 93 | (121) |
Total | $ 109 | $ 61 | $ (67) |
Income Taxes - EGTS - Reconcili
Income Taxes - EGTS - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | (6.00%) | (10.00%) | 3% |
Other, net | 2% | 1% | (1.00%) |
Effective income tax rate | (136.00%) | (21.00%) | 4% |
EGTS | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21% | 21% | 21% |
State income tax, net of federal income tax benefit | 9% | 8% | 7% |
Effects of ratemaking | 0% | 0% | 2% |
AFUDC-equity | 0% | 0% | 1% |
Write-off of regulatory assets | 0% | 0% | (3.00%) |
Other, net | (1.00%) | (1.00%) | (1.00%) |
Effective income tax rate | 29% | 28% | 27% |
Income Taxes - EGTS - Compone_2
Income Taxes - EGTS - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Other | $ 741 | $ 686 |
Total deferred income tax assets, net | 2,972 | 2,995 |
Deferred income tax liabilities: | ||
Property-related items | (12,244) | (11,814) |
Total deferred income tax liabilities | (15,650) | (15,933) |
EGTS | ||
Deferred income tax assets: | ||
Federal and state carryforwards | 6 | 0 |
Employee benefits | 22 | 31 |
Intangibles | 265 | 298 |
Derivatives and hedges | 11 | 12 |
Other | 4 | 4 |
Total deferred income tax assets, net | 308 | 345 |
Deferred income tax liabilities: | ||
Property-related items | (146) | (77) |
Debt exchange | (53) | (60) |
Employee benefits | (4) | (9) |
Total deferred income tax liabilities | (203) | (146) |
Net deferred income tax asset | $ 105 | $ 199 |
Employee Benefit Plans - Domest
Employee Benefit Plans - Domestic Operations and Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 22 | $ 30 | $ 17 |
Interest cost | 83 | 78 | 93 |
Expected return on plan assets | (108) | (134) | (140) |
Curtailment | (10) | 0 | 0 |
Settlement | 17 | 3 | 0 |
Net amortization | 19 | 25 | 32 |
Net periodic benefit cost (credit) | 23 | 2 | 2 |
Pension | United Kingdom | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 14 | 16 | 16 |
Interest cost | 35 | 31 | 40 |
Expected return on plan assets | (92) | (111) | (101) |
Settlement | 0 | 10 | 17 |
Net amortization | 24 | 55 | 43 |
Net periodic benefit cost (credit) | (19) | 1 | 15 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 11 | 12 | 7 |
Interest cost | 20 | 19 | 21 |
Expected return on plan assets | (29) | (22) | (34) |
Curtailment | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Net amortization | (1) | (3) | (4) |
Net periodic benefit cost (credit) | $ 1 | $ 6 | $ (10) |
Employee Benefit Plans - Funded
Employee Benefit Plans - Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 769 | $ 744 | |
Employer contributions | 8 | 14 | |
Participant contributions | 8 | 9 | |
Actual return on plan assets | (122) | 53 | |
Settlement | 0 | 0 | |
Benefits paid | (49) | (51) | |
Ending balance | 614 | 769 | $ 744 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 714 | 758 | |
Service cost | 11 | 12 | 7 |
Interest cost | 20 | 19 | 21 |
Participant contributions | 8 | 9 | |
Actuarial (gain) loss | (155) | (35) | |
Amendment | 20 | 2 | |
Curtailment | 0 | 0 | |
Settlement | 0 | 0 | |
Benefits paid | (49) | (51) | |
Ending balance | 569 | 714 | 758 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 614 | 769 | 744 |
Benefit obligation, end of year | 569 | 714 | 758 |
Funded status | 45 | 55 | |
Other assets | 52 | 60 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (7) | (5) | |
Amounts recognized | 45 | 55 | |
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Fair value of plan assets | 240 | 137 | |
Projected benefit obligation | 247 | 142 | |
Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 300 | 343 | |
U.S. | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,795 | 2,824 | |
Employer contributions | 14 | 13 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | (491) | 234 | |
Settlement | (164) | (134) | |
Benefits paid | (141) | (142) | |
Ending balance | 2,013 | 2,795 | 2,824 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 2,777 | 3,077 | |
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (524) | (132) | |
Amendment | (3) | 0 | |
Curtailment | (10) | 0 | |
Settlement | (164) | (134) | |
Benefits paid | (141) | (142) | |
Ending balance | 2,040 | 2,777 | 3,077 |
Accumulated benefit obligation, end of year | 2,003 | 2,713 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,013 | 2,795 | 2,824 |
Benefit obligation, end of year | 2,040 | 2,777 | 3,077 |
Funded status | (27) | 18 | |
Other assets | 125 | 204 | |
Other current liabilities | (13) | (13) | |
Other long-term liabilities | (139) | (173) | |
Amounts recognized | (27) | 18 | |
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Fair value of plan assets | 490 | 0 | |
Projected benefit obligation | 643 | 186 | |
Fair value of plan assets | 0 | 0 | |
Accumulated benefit obligation | 142 | 185 | |
United Kingdom | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,363 | 2,334 | |
Employer contributions | 15 | 28 | |
Participant contributions | 1 | 1 | |
Actual return on plan assets | (671) | 148 | |
Settlement | 0 | (51) | |
Benefits paid | (109) | (72) | |
Foreign currency exchange rate changes | (236) | (25) | |
Ending balance | 1,363 | 2,363 | 2,334 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 2,003 | 2,205 | |
Service cost | 14 | 16 | 16 |
Interest cost | 35 | 31 | 40 |
Participant contributions | 1 | 1 | |
Actuarial (gain) loss | (596) | (105) | |
Amendment | 27 | 0 | |
Settlement | 0 | (51) | |
Benefits paid | (109) | (72) | |
Foreign currency exchange rate changes | (200) | (22) | |
Ending balance | 1,175 | 2,003 | 2,205 |
Accumulated benefit obligation, end of year | 1,060 | 1,778 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 1,363 | 2,363 | 2,334 |
Benefit obligation, end of year | 1,175 | 2,003 | $ 2,205 |
Funded status | 188 | 360 | |
Other assets | $ 188 | $ 360 |
Employee Benefit Plans - Unreco
Employee Benefit Plans - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Pension | U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | $ 365 | $ 343 |
Prior service (credit) cost | (4) | (1) |
Regulatory deferrals | 29 | 11 |
Total | 390 | 353 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 353 | 613 |
Net loss (gain) arising during the year | 76 | (231) |
Net prior service credit arising during the year | (3) | |
Settlement | (17) | 4 |
Net amortization | (19) | (25) |
Total | 37 | (260) |
Ending balance | 390 | 353 |
Pension | U.S. | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 0 | 22 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 22 | 33 |
Net loss (gain) arising during the year | (20) | (10) |
Net prior service credit arising during the year | 0 | |
Settlement | 0 | 0 |
Net amortization | (2) | (1) |
Total | (22) | (11) |
Ending balance | 0 | 22 |
Pension | U.S. | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 418 | 390 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 390 | 600 |
Net loss (gain) arising during the year | 58 | (177) |
Net prior service credit arising during the year | 0 | |
Settlement | (13) | 9 |
Net amortization | (17) | (24) |
Total | 28 | (210) |
Ending balance | 418 | 390 |
Pension | U.S. | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (28) | (59) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (59) | (20) |
Net loss (gain) arising during the year | 38 | (44) |
Net prior service credit arising during the year | (3) | |
Settlement | (4) | (5) |
Net amortization | 0 | 0 |
Total | 31 | (39) |
Ending balance | (28) | (59) |
Pension | United Kingdom | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss | 499 | 400 |
Prior service cost | 30 | 5 |
Total | 529 | 405 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 405 | |
Ending balance | 529 | 405 |
Pension | United Kingdom | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 529 | 405 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 405 | 618 |
Net loss (gain) arising during the year | 167 | (143) |
Net prior service credit arising during the year | 27 | 0 |
Settlement | 0 | (10) |
Net amortization | (24) | (55) |
Foreign currency exchange rate changes | (46) | (5) |
Total | 124 | (213) |
Ending balance | 529 | 405 |
Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | (38) | (34) |
Prior service (credit) cost | 21 | (1) |
Regulatory deferrals | 1 | 2 |
Total | (16) | (33) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (33) | 28 |
Net loss (gain) arising during the year | (4) | (65) |
Net prior service credit arising during the year | 20 | 1 |
Net amortization | 1 | 3 |
Total | 17 | (61) |
Ending balance | (16) | (33) |
Other Postretirement | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (2) | 1 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 1 | 4 |
Net loss (gain) arising during the year | (4) | (3) |
Net prior service credit arising during the year | 1 | 0 |
Net amortization | 0 | 0 |
Total | (3) | (3) |
Ending balance | (2) | 1 |
Other Postretirement | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 45 | 11 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 11 | 47 |
Net loss (gain) arising during the year | 20 | (40) |
Net prior service credit arising during the year | 11 | 1 |
Net amortization | 3 | 3 |
Total | 34 | (36) |
Ending balance | 45 | 11 |
Other Postretirement | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (59) | (45) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (45) | (23) |
Net loss (gain) arising during the year | (20) | (22) |
Net prior service credit arising during the year | 8 | 0 |
Net amortization | (2) | 0 |
Total | (14) | (22) |
Ending balance | $ (59) | $ (45) |
Employee Benefit Plans - Plan A
Employee Benefit Plans - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net periodic benefit cost for the years ended December 31: | |||
Healthcare cost trend rate assumed for next year | 6.50% | 6% | |
Rate that the cost trend rate gradually declines to | 5% | 5% | |
Pension | U.S. | |||
Benefit obligations as of December 31: | |||
Discount rate | 5.65% | 2.98% | 2.60% |
Rate of compensation increase | 3% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 3.25% | 2.45% | 2.44% |
Interest crediting rates for cash balance plan, year two | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year three | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year four | 3.65% | 2.83% | 2.65% |
Interest crediting rates for cash balance plan, year five | 2.83% | 2.65% | |
Interest crediting rates for cash balance plan, year six | 2.65% | ||
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 2.98% | 2.60% | 3.32% |
Expected return on plan assets | 4.30% | 5.39% | 5.94% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 3.25% | 2.45% | 2.44% |
Pension | United Kingdom | |||
Benefit obligations as of December 31: | |||
Discount rate | 4.80% | 1.95% | 1.40% |
Rate of compensation increase | 3.20% | 3.45% | 3.05% |
Rate of future price inflation | 2.95% | 2.95% | 2.55% |
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 1.95% | 1.40% | 2.10% |
Expected return on plan assets | 4.40% | 4.85% | 5% |
Rate of compensation increase | 3.45% | 3.05% | 3.30% |
Rate of future price inflation | 2.95% | 2.55% | 2.80% |
Other Postretirement | |||
Benefit obligations as of December 31: | |||
Discount rate | 4.54% | 2.95% | 2.59% |
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 2.95% | 2.59% | 3.24% |
Expected return on plan assets | 4.20% | 3.35% | 5.42% |
Employee Benefit Plans - Contri
Employee Benefit Plans - Contributions and Benefit Payments (Details) - Dec. 31, 2022 £ in Millions, $ in Millions | USD ($) | GBP (£) |
Other Postretirement | ||
Expected future benefit payments | ||
2023 | $ 53 | |
2024 | 53 | |
2025 | 53 | |
2026 | 52 | |
2027 | 52 | |
2028-2032 | 235 | |
U.S. | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | 13 | |
Expected future benefit payments | ||
2023 | 192 | |
2024 | 184 | |
2025 | 180 | |
2026 | 177 | |
2027 | 172 | |
2028-2032 | 782 | |
U.S. | Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | 7 | |
United Kingdom | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | £ | £ 11 | |
Expected future benefit payments | ||
2023 | 67 | |
2024 | 69 | |
2025 | 70 | |
2026 | 72 | |
2027 | 74 | |
2028-2032 | $ 398 |
Employee Benefit Plans - Asset
Employee Benefit Plans - Asset Allocations (Details) | Dec. 31, 2022 |
Other Postretirement | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 77% |
Other Postretirement | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 23% |
U.S. | Pension | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 73% |
U.S. | Pension | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 22% |
U.S. | Pension | Limited partnership interests | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5% |
U.S. | Pension | Other | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5% |
Minimum | Other Postretirement | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20% |
Minimum | Other Postretirement | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 68% |
Minimum | Other Postretirement | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60% |
Minimum | Other Postretirement | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 11% |
Minimum | U.S. | Pension | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40% |
Minimum | U.S. | Pension | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 65% |
Minimum | U.S. | Pension | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35% |
Minimum | U.S. | Pension | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20% |
Minimum | United Kingdom | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60% |
Minimum | United Kingdom | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 10% |
Minimum | United Kingdom | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15% |
Maximum | Other Postretirement | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40% |
Maximum | Other Postretirement | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 89% |
Maximum | Other Postretirement | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80% |
Maximum | Other Postretirement | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 32% |
Maximum | Other Postretirement | Other | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5% |
Maximum | U.S. | Pension | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70% |
Maximum | U.S. | Pension | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80% |
Maximum | U.S. | Pension | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60% |
Maximum | U.S. | Pension | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35% |
Maximum | U.S. | Pension | Other | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15% |
Maximum | United Kingdom | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70% |
Maximum | United Kingdom | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20% |
Maximum | United Kingdom | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25% |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 614 | $ 769 | $ 744 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 482 | 607 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 337 | 437 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 145 | 170 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 24 | 16 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 12 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 9 | 4 | |
Other Postretirement | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Other Postretirement | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 55% | 55% | |
Percentage of funds comprised of debt securities | 45% | 45% | |
Percentage of funds invested in United States securities | 88% | 88% | |
Percentage of funds invested in international securities | 12% | 12% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 307 | $ 394 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 307 | 394 | |
Other Postretirement | Investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 132 | 161 | |
Other Postretirement | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 1 | |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,013 | 2,795 | 2,824 |
U.S. | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,096 | 1,412 | |
U.S. | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 308 | 277 | |
U.S. | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 788 | 1,135 | |
U.S. | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
U.S. | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
U.S. | Pension | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
U.S. | Pension | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
U.S. | Pension | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
U.S. | Pension | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
U.S. | Pension | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
U.S. | Pension | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
U.S. | Pension | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
U.S. | Pension | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
U.S. | Pension | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | $ 0 | |
U.S. | Pension | Equity securities, international companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
U.S. | Pension | Equity securities, international companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
U.S. | Pension | Equity securities, international companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | ||
U.S. | Pension | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 53% | 54% | |
Percentage of funds comprised of debt securities | 47% | 46% | |
Percentage of funds invested in United States securities | 95% | 89% | |
Percentage of funds invested in international securities | 5% | 11% | |
U.S. | Pension | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 885 | $ 1,349 | |
U.S. | Pension | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 32 | 34 | |
United Kingdom | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,363 | 2,363 | $ 2,334 |
United Kingdom | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,267 | 2,255 | |
United Kingdom | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 712 | 1,313 | |
United Kingdom | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 341 | 673 | |
United Kingdom | Pension | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 214 | 269 | |
United Kingdom | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 30 | 32 | |
United Kingdom | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | 5 | |
United Kingdom | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 29 | 27 | |
United Kingdom | Pension | Cash equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | United Kingdom government | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 711 | 1,308 | |
United Kingdom | Pension | United Kingdom government | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 711 | 1,308 | |
United Kingdom | Pension | United Kingdom government | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | United Kingdom government | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
United Kingdom | Pension | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 25% | 23% | |
Percentage of funds comprised of debt securities | 75% | 77% | |
United Kingdom | Pension | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 312 | $ 646 | |
United Kingdom | Pension | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | Investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 312 | 646 | |
United Kingdom | Pension | Investment funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 96 | 108 | |
United Kingdom | Pension | Real estate funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 214 | 269 | |
United Kingdom | Pension | Real estate funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | Real estate funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United Kingdom | Pension | Real estate funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 214 | $ 269 |
Employee Benefit Plans - Level
Employee Benefit Plans - Level 3 Rollforward (Details) - United Kingdom - Pension - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 2,363 | $ 2,334 | |
Foreign currency exchange rate changes | (236) | (25) | |
Ending balance | 1,363 | 2,363 | $ 2,334 |
Level 3 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 269 | ||
Ending balance | 214 | 269 | |
Real estate funds | Level 3 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 269 | 237 | 243 |
Actual return on plan assets still held at period end | (27) | 35 | (13) |
Foreign currency exchange rate changes | (28) | (3) | 7 |
Ending balance | $ 214 | $ 269 | $ 237 |
Employee Benefit Plans - Define
Employee Benefit Plans - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 159 | $ 137 | $ 127 |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 11 | $ 12 | $ 7 |
Interest cost | 20 | 19 | 21 |
Expected return on plan assets | (29) | (22) | (34) |
Settlement | 0 | 0 | 0 |
Net amortization | (1) | (3) | (4) |
Net periodic benefit cost (credit) | 1 | 6 | (10) |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 2 | 2 | 2 |
Interest cost | 8 | 7 | 9 |
Expected return on plan assets | (11) | (9) | (14) |
Settlement | 0 | 0 | 0 |
Net amortization | 1 | 1 | 3 |
Net periodic benefit cost (credit) | 0 | 1 | 0 |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Expected return on plan assets | (108) | (134) | (140) |
Settlement | 17 | 3 | 0 |
Net amortization | 19 | 25 | 32 |
Net periodic benefit cost (credit) | 23 | 2 | 2 |
U.S. | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 0 | 0 | 0 |
Interest cost | 29 | 29 | 36 |
Expected return on plan assets | (42) | (51) | (56) |
Settlement | 6 | 6 | 0 |
Net amortization | 16 | 21 | 18 |
Net periodic benefit cost (credit) | 9 | 5 | $ (2) |
Settlement losses, gross | 24 | 15 | |
Settlement losses, regulatory deferrals | $ 18 | $ 9 |
Employee Benefit Plans - PAC _2
Employee Benefit Plans - PAC - Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 769 | $ 744 | |
Employer contributions | 8 | 14 | |
Participant contributions | 8 | 9 | |
Actual return on plan assets | (122) | 53 | |
Settlement | 0 | 0 | |
Benefits paid | (49) | (51) | |
Ending balance | 614 | 769 | $ 744 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 714 | 758 | |
Service cost | 11 | 12 | 7 |
Interest cost | 20 | 19 | 21 |
Participant contributions | 8 | 9 | |
Actuarial gain | (155) | (35) | |
Settlement | 0 | 0 | |
Benefits Paid | (49) | (51) | |
Ending balance | 569 | 714 | 758 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 614 | 769 | 744 |
Benefit obligation, end of year | 569 | 714 | 758 |
Funded status | 45 | 55 | |
Other assets | 52 | 60 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (7) | (5) | |
Amounts recognized | 45 | 55 | |
Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 300 | 343 | |
PAC | Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 324 | 327 | |
Employer contributions | 0 | 1 | |
Participant contributions | 5 | 6 | |
Actual return on plan assets | (42) | 14 | |
Settlement | 0 | 0 | |
Benefits paid | (23) | (24) | |
Ending balance | 264 | 324 | 327 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 288 | 307 | |
Service cost | 2 | 2 | 2 |
Interest cost | 8 | 7 | 9 |
Participant contributions | 5 | 6 | |
Actuarial gain | (61) | (10) | |
Settlement | 0 | 0 | |
Benefits Paid | (23) | (24) | |
Ending balance | 219 | 288 | 307 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 264 | 324 | 327 |
Benefit obligation, end of year | 219 | 288 | 307 |
Funded status | 45 | 36 | |
Other assets | 45 | 36 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | 0 | 0 | |
Amounts recognized | 45 | 36 | |
PAC | Supplemental Employee Retirement Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Accumulated benefit obligation, end of year | 42 | 54 | |
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 61 | 69 | |
U.S. | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,795 | 2,824 | |
Employer contributions | 14 | 13 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | (491) | 234 | |
Settlement | (164) | (134) | |
Benefits paid | (141) | (142) | |
Ending balance | 2,013 | 2,795 | 2,824 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 2,777 | 3,077 | |
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Participant contributions | 0 | 0 | |
Actuarial gain | (524) | (132) | |
Settlement | (164) | (134) | |
Benefits Paid | (141) | (142) | |
Ending balance | 2,040 | 2,777 | 3,077 |
Accumulated benefit obligation, end of year | 2,003 | 2,713 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,013 | 2,795 | 2,824 |
Benefit obligation, end of year | 2,040 | 2,777 | 3,077 |
Funded status | (27) | 18 | |
Other assets | 125 | 204 | |
Other current liabilities | (13) | (13) | |
Other long-term liabilities | (139) | (173) | |
Amounts recognized | (27) | 18 | |
U.S. | PAC | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 1,058 | 1,064 | |
Employer contributions | 4 | 5 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | (172) | 109 | |
Settlement | (67) | (52) | |
Benefits paid | (65) | (68) | |
Ending balance | 758 | 1,058 | 1,064 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 1,048 | 1,202 | |
Service cost | 0 | 0 | 0 |
Interest cost | 29 | 29 | 36 |
Participant contributions | 0 | 0 | |
Actuarial gain | (199) | (63) | |
Settlement | (67) | (52) | |
Benefits Paid | (65) | (68) | |
Ending balance | 746 | 1,048 | 1,202 |
Accumulated benefit obligation, end of year | 746 | 1,048 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 758 | 1,058 | 1,064 |
Benefit obligation, end of year | 746 | 1,048 | $ 1,202 |
Funded status | 12 | 10 | |
Other assets | 53 | 63 | |
Other current liabilities | (4) | (4) | |
Other long-term liabilities | (37) | (49) | |
Amounts recognized | $ 12 | $ 10 |
Employee Benefit Plans - PAC _3
Employee Benefit Plans - PAC - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | $ (38) | $ (34) |
Regulatory deferrals | 1 | 2 |
Total | (16) | (33) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (33) | 28 |
Net loss (gain) arising during the year | (4) | (65) |
Net amortization | 1 | 3 |
Total | 17 | (61) |
Ending balance | (16) | (33) |
Other Postretirement | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 45 | 11 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 11 | 47 |
Net loss (gain) arising during the year | 20 | (40) |
Net amortization | 3 | 3 |
Total | 34 | (36) |
Ending balance | 45 | 11 |
Other Postretirement | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (59) | (45) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (45) | (23) |
Net loss (gain) arising during the year | (20) | (22) |
Net amortization | (2) | 0 |
Total | (14) | (22) |
Ending balance | (59) | (45) |
Other Postretirement | PAC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | (36) | (28) |
Regulatory deferrals | 1 | 2 |
Total | (35) | (26) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (26) | |
Ending balance | (35) | (26) |
Other Postretirement | PAC | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (35) | (26) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (26) | (10) |
Net loss (gain) arising during the year | (8) | (15) |
Net amortization | (1) | (1) |
Total | (9) | (16) |
Ending balance | (35) | (26) |
U.S. | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 365 | 343 |
Regulatory deferrals | 29 | 11 |
Total | 390 | 353 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 353 | 613 |
Net loss (gain) arising during the year | 76 | (231) |
Net amortization | (19) | (25) |
Settlement | (17) | 4 |
Total | 37 | (260) |
Ending balance | 390 | 353 |
U.S. | Pension | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 418 | 390 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 390 | 600 |
Net loss (gain) arising during the year | 58 | (177) |
Net amortization | (17) | (24) |
Settlement | (13) | 9 |
Total | 28 | (210) |
Ending balance | 418 | 390 |
U.S. | Pension | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (28) | (59) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (59) | (20) |
Net loss (gain) arising during the year | 38 | (44) |
Net amortization | 0 | 0 |
Settlement | (4) | (5) |
Total | 31 | (39) |
Ending balance | (28) | (59) |
U.S. | Pension | PAC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 273 | 298 |
Regulatory deferrals | 29 | 11 |
Total | 302 | 309 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 309 | 457 |
Net loss (gain) arising during the year | 15 | (121) |
Net amortization | (16) | (21) |
Settlement | (6) | (6) |
Total | (7) | (148) |
Ending balance | 302 | 309 |
U.S. | Pension | PAC | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 290 | 286 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 286 | 432 |
Net loss (gain) arising during the year | 24 | (120) |
Net amortization | (14) | (20) |
Settlement | (6) | (6) |
Total | 4 | (146) |
Ending balance | 290 | 286 |
U.S. | Pension | PAC | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 12 | 23 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 23 | 25 |
Net loss (gain) arising during the year | (9) | (1) |
Net amortization | (2) | (1) |
Settlement | 0 | 0 |
Total | (11) | (2) |
Ending balance | $ 12 | $ 23 |
Employee Benefit Plans - PAC _4
Employee Benefit Plans - PAC - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.54% | 2.95% | 2.59% |
Discount rate | 2.95% | 2.59% | 3.24% |
Expected return on plan assets | 4.20% | 3.35% | 5.42% |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.50% | 2.90% | 2.50% |
Discount rate | 2.90% | 2.50% | 3.20% |
Expected return on plan assets | 3.44% | 2.90% | 4.92% |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.65% | 2.98% | 2.60% |
Interest crediting rates for cash balance plan, year one | 3.25% | 2.45% | 2.44% |
Interest crediting rates for cash balance plan, year two | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year three | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year four | 3.65% | 2.83% | 2.65% |
Interest crediting rates for cash balance plan, year five | 2.83% | 2.65% | |
Interest crediting rates for cash balance plan, year six | 2.65% | ||
Discount rate | 2.98% | 2.60% | 3.32% |
Expected return on plan assets | 4.30% | 5.39% | 5.94% |
U.S. | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.55% | 2.90% | 2.50% |
Discount rate | 2.90% | 2.50% | 3.25% |
Expected return on plan assets | 4.70% | 6% | 6.50% |
U.S. | Pension | PAC | Nonunion pension plan participant | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest crediting rates for cash balance plan, year one | 0.88% | 0.82% | 2.27% |
Interest crediting rates for cash balance plan, year two | 4.73% | 0.88% | 0.82% |
Interest crediting rates for cash balance plan, year three | 4.73% | 0.88% | 0.82% |
Interest crediting rates for cash balance plan, year four | 2.60% | 1.90% | 2% |
Interest crediting rates for cash balance plan, year five | 1.90% | 2% | |
Interest crediting rates for cash balance plan, year six | 2% | ||
U.S. | Pension | PAC | Union pension plan participant | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest crediting rates for cash balance plan, year one | 1.94% | 1.42% | 2.16% |
Interest crediting rates for cash balance plan, year two | 3.55% | 1.94% | 1.42% |
Interest crediting rates for cash balance plan, year three | 3.55% | 1.94% | 1.42% |
Interest crediting rates for cash balance plan, year four | 2.40% | 2.30% | 2.40% |
Interest crediting rates for cash balance plan, year five | 2.30% | 2.40% | |
Interest crediting rates for cash balance plan, year six | 2.40% |
Employee Benefit Plans - PAC _5
Employee Benefit Plans - PAC - Contributions and Benefit Payments (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | $ 53 |
2024 | 53 |
2025 | 53 |
2026 | 52 |
2027 | 52 |
2028-2032 | 235 |
Other Postretirement | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 0 |
2023 | 23 |
2024 | 22 |
2025 | 21 |
2026 | 20 |
2027 | 20 |
2028-2032 | 87 |
U.S. | Pension | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 13 |
2023 | 192 |
2024 | 184 |
2025 | 180 |
2026 | 177 |
2027 | 172 |
2028-2032 | 782 |
U.S. | Pension | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 4 |
2023 | 76 |
2024 | 73 |
2025 | 70 |
2026 | 67 |
2027 | 64 |
2028-2032 | 277 |
U.S. | Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | $ 7 |
Employee Benefit Plans - PAC _6
Employee Benefit Plans - PAC - Asset Allocations (Details) - PAC | Dec. 31, 2022 |
Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 77% |
Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 23% |
U.S. | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 73% |
U.S. | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 22% |
U.S. | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5% |
Employee Benefit Plans - PAC _7
Employee Benefit Plans - PAC - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 614 | $ 769 | $ 744 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 482 | 607 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 337 | 437 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 145 | 170 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 24 | 16 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 12 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 9 | 4 | |
Other Postretirement | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Other Postretirement | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 55% | 55% | |
Percentage of funds comprised of debt securities | 45% | 45% | |
Percentage of funds invested in United States securities | 88% | 88% | |
Percentage of funds invested in international securities | 12% | 12% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 307 | $ 394 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 307 | 394 | |
Other Postretirement | Investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 132 | 161 | |
Other Postretirement | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 1 | |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 264 | 324 | 327 |
Other Postretirement | PAC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 132 | 162 | |
Other Postretirement | PAC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 18 | 32 | |
Other Postretirement | PAC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 114 | 130 | |
Other Postretirement | PAC | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 5 | |
Other Postretirement | PAC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 5 | 4 | |
Other Postretirement | PAC | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 5 | 1 | |
Other Postretirement | PAC | Cash equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 6 | 24 | |
Other Postretirement | PAC | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 6 | 24 | |
Other Postretirement | PAC | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | U.S. government obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 79 | |
Other Postretirement | PAC | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 79 | |
Other Postretirement | PAC | Corporate obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 13 | 15 | |
Other Postretirement | PAC | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 13 | 15 | |
Other Postretirement | PAC | Municipal obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 47 | 35 | |
Other Postretirement | PAC | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 47 | 35 | |
Other Postretirement | PAC | Agency, asset and mortgage-backed obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | PAC | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | PAC | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Equity securities, U.S. companies | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Other Postretirement | PAC | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 41% | 39% | |
Percentage of funds comprised of debt securities | 59% | 61% | |
Percentage of funds invested in United States securities | 91% | 90% | |
Percentage of funds invested in international securities | 9% | 10% | |
Other Postretirement | PAC | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 132 | $ 161 | |
Other Postretirement | PAC | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 1 | |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,013 | 2,795 | 2,824 |
U.S. | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,096 | 1,412 | |
U.S. | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 308 | 277 | |
U.S. | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 788 | 1,135 | |
U.S. | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
U.S. | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
U.S. | Pension | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
U.S. | Pension | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
U.S. | Pension | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
U.S. | Pension | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
U.S. | Pension | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
U.S. | Pension | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
U.S. | Pension | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
U.S. | Pension | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
U.S. | Pension | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
U.S. | Pension | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 53% | 54% | |
Percentage of funds comprised of debt securities | 47% | 46% | |
Percentage of funds invested in United States securities | 95% | 89% | |
Percentage of funds invested in international securities | 5% | 11% | |
U.S. | Pension | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 885 | $ 1,349 | |
U.S. | Pension | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 32 | 34 | |
U.S. | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 758 | 1,058 | $ 1,064 |
U.S. | Pension | PAC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 380 | 486 | |
U.S. | Pension | PAC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 110 | 112 | |
U.S. | Pension | PAC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 270 | 374 | |
U.S. | Pension | PAC | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 15 | |
U.S. | Pension | PAC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 15 | |
U.S. | Pension | PAC | Cash equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 41 | 51 | |
U.S. | Pension | PAC | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 41 | 51 | |
U.S. | Pension | PAC | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | U.S. government obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 211 | 299 | |
U.S. | Pension | PAC | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 211 | 299 | |
U.S. | Pension | PAC | Corporate obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 22 | |
U.S. | Pension | PAC | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 22 | |
U.S. | Pension | PAC | Municipal obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 34 | 38 | |
U.S. | Pension | PAC | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 34 | 38 | |
U.S. | Pension | PAC | Agency, asset and mortgage-backed obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 69 | 61 | |
U.S. | Pension | PAC | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 69 | 61 | |
U.S. | Pension | PAC | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
U.S. | Pension | PAC | Equity securities, U.S. companies | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
U.S. | Pension | PAC | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 50% | 59% | |
Percentage of funds comprised of debt securities | 50% | 41% | |
Percentage of funds invested in United States securities | 90% | 84% | |
Percentage of funds invested in international securities | 10% | 16% | |
U.S. | Pension | PAC | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 346 | $ 538 | |
U.S. | Pension | PAC | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 32 | $ 34 |
Employee Benefit Plans - PAC _8
Employee Benefit Plans - PAC - Multiemployer and Joint Trust Pension Plans (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage by which joint trustee plan was at least funded | 80% | 80% | 80% |
Contributions | $ 6 | $ 6 | $ 6 |
UMWA Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Withdrawal liability | $ 115 |
Employee Benefit Plans - PAC _9
Employee Benefit Plans - PAC - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 44 | $ 40 | $ 41 |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Defined Benefit Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Settlement gain (loss) | $ (4) | $ 5 | |
Curtailment gain | 10 | ||
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Settlement gain (loss) | 0 | 0 | $ 0 |
Curtailment gain | 0 | 0 | 0 |
Other Postretirement | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Settlement gain (loss) | 0 | 0 | 0 |
Curtailment gain | $ 0 | $ 0 | $ 0 |
Employee Benefit Plans - MEC _2
Employee Benefit Plans - MEC - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Curtailment | $ (10) | ||
Settlement | 4 | $ (5) | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 11 | 12 | $ 7 |
Interest cost | 20 | 19 | 21 |
Expected return on plan assets | (29) | (22) | (34) |
Curtailment | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Net amortization | (1) | (3) | (4) |
Net periodic benefit cost (credit) | 1 | 6 | (10) |
Other Postretirement | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 8 | 9 | 4 |
Interest cost | 8 | 8 | 7 |
Expected return on plan assets | (14) | (10) | (14) |
Curtailment | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Net amortization | (2) | (4) | (5) |
Net periodic benefit cost (credit) | 0 | 3 | (8) |
Other Postretirement | MidAmerican Energy | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | (2) | 1 | (5) |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Expected return on plan assets | (108) | (134) | (140) |
Curtailment | (10) | 0 | 0 |
Settlement | 17 | 3 | 0 |
Net amortization | 19 | 25 | 32 |
Net periodic benefit cost (credit) | 23 | 2 | 2 |
U.S. | Pension | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 15 | 20 | 8 |
Interest cost | 23 | 22 | 25 |
Expected return on plan assets | (27) | (37) | (40) |
Curtailment | (10) | 0 | 0 |
Settlement | 4 | (5) | 0 |
Net amortization | 1 | 1 | 1 |
Net periodic benefit cost (credit) | 6 | 1 | (6) |
U.S. | Pension | MidAmerican Energy | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | $ (2) | $ (20) | $ (13) |
Employee Benefit Plans - MEC _3
Employee Benefit Plans - MEC - Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 769 | $ 744 | |
Employer contributions | 8 | 14 | |
Participant contributions | 8 | 9 | |
Actual return on plan assets | (122) | 53 | |
Settlement | 0 | 0 | |
Benefits paid | (49) | (51) | |
Ending balance | 614 | 769 | $ 744 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 714 | 758 | |
Service cost | 11 | 12 | 7 |
Interest cost | 20 | 19 | 21 |
Participant contributions | 8 | 9 | |
Actuarial (gain) loss | (155) | (35) | |
Amendment | 20 | 2 | |
Curtailment | 0 | 0 | |
Settlement | 0 | 0 | |
Benefits Paid | (49) | (51) | |
Ending balance | 569 | 714 | 758 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 614 | 769 | 744 |
Benefit obligation, end of year | 569 | 714 | 758 |
Funded status | 45 | 55 | |
Other assets | 52 | 60 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (7) | (5) | |
Amounts recognized | 45 | 55 | |
Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 300 | 343 | |
MEC | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 215 | 233 | |
MEC | Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 308 | 278 | |
Employer contributions | 3 | 10 | |
Participant contributions | 1 | 1 | |
Actual return on plan assets | (58) | 34 | |
Settlement | 0 | 0 | |
Benefits paid | (14) | (15) | |
Ending balance | 240 | 308 | 278 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 285 | 304 | |
Service cost | 8 | 9 | 4 |
Interest cost | 8 | 8 | 7 |
Participant contributions | 1 | 1 | |
Actuarial (gain) loss | (64) | (18) | |
Amendment | 19 | 1 | |
Curtailment | 0 | 0 | |
Settlement | 0 | 0 | |
Acquisition | 0 | (5) | |
Benefits Paid | (14) | (15) | |
Ending balance | 243 | 285 | 304 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 240 | 308 | 278 |
Benefit obligation, end of year | 243 | 285 | 304 |
Funded status | (3) | 23 | |
Other assets | 0 | 23 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (3) | 0 | |
Amounts recognized | (3) | 23 | |
MidAmerican Energy | MEC | Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 134 | 143 | |
U.S. | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,795 | 2,824 | |
Employer contributions | 14 | 13 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | (491) | 234 | |
Settlement | (164) | (134) | |
Benefits paid | (141) | (142) | |
Ending balance | 2,013 | 2,795 | 2,824 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 2,777 | 3,077 | |
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (524) | (132) | |
Amendment | (3) | 0 | |
Curtailment | (10) | 0 | |
Settlement | (164) | (134) | |
Benefits Paid | (141) | (142) | |
Ending balance | 2,040 | 2,777 | 3,077 |
Accumulated benefit obligation, end of year | 2,003 | 2,713 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,013 | 2,795 | 2,824 |
Benefit obligation, end of year | 2,040 | 2,777 | 3,077 |
Funded status | (27) | 18 | |
Other assets | 125 | 204 | |
Other current liabilities | (13) | (13) | |
Other long-term liabilities | (139) | (173) | |
Amounts recognized | (27) | 18 | |
U.S. | MEC | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 704 | 718 | |
Employer contributions | 7 | 8 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | (130) | 58 | |
Settlement | (57) | (46) | |
Benefits paid | (34) | (34) | |
Ending balance | 490 | 704 | 718 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 781 | 845 | |
Service cost | 15 | 20 | 8 |
Interest cost | 23 | 22 | 25 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (129) | (25) | |
Amendment | (3) | 0 | |
Curtailment | (10) | 0 | |
Settlement | (57) | (46) | |
Acquisition | 0 | (1) | |
Benefits Paid | (34) | (34) | |
Ending balance | 586 | 781 | 845 |
Accumulated benefit obligation, end of year | 551 | 721 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 490 | 704 | 718 |
Benefit obligation, end of year | 586 | 781 | $ 845 |
Funded status | (96) | (77) | |
Other assets | 0 | 34 | |
Other current liabilities | (8) | (7) | |
Other long-term liabilities | (88) | (104) | |
Amounts recognized | (96) | (77) | |
U.S. | MEC | Supplemental Employee Retirement Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 111 | ||
Ending balance | 85 | 111 | |
Accumulated benefit obligation, end of year | 85 | 111 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Benefit obligation, end of year | $ 85 | $ 111 |
Employee Benefit Plans - MEC _4
Employee Benefit Plans - MEC - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | MEC | |||
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Settlement | $ (4) | $ 5 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss (gain) | (38) | (34) | |
Prior service (credit) cost | 21 | (1) | |
Total | (16) | (33) | $ 28 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (33) | 28 | |
Net loss (gain) arising during the year | (4) | (65) | |
Settlement | 0 | 0 | 0 |
Net amortization | 1 | 3 | |
Total | 17 | (61) | |
Ending balance | (16) | (33) | 28 |
Other Postretirement | Regulatory Asset | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 45 | 11 | 47 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 11 | 47 | |
Net loss (gain) arising during the year | 20 | (40) | |
Net amortization | 3 | 3 | |
Total | 34 | (36) | |
Ending balance | 45 | 11 | 47 |
Other Postretirement | Regulatory Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | (59) | (45) | (23) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (45) | (23) | |
Net loss (gain) arising during the year | (20) | (22) | |
Net amortization | (2) | 0 | |
Total | (14) | (22) | |
Ending balance | (59) | (45) | (23) |
Other Postretirement | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss (gain) | 11 | 2 | |
Prior service (credit) cost | 19 | (3) | |
Total | 30 | (1) | 36 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (1) | 36 | |
Net loss (gain) arising during the year | 9 | (42) | |
Net prior service credit arising during the year | 19 | 1 | |
Settlement | 0 | 0 | 0 |
Net amortization | 3 | 4 | |
Total | 31 | (37) | |
Ending balance | 30 | (1) | 36 |
Other Postretirement | MEC | Regulatory Asset | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 33 | 20 | 45 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 20 | 45 | |
Net loss (gain) arising during the year | 10 | (29) | |
Net prior service credit arising during the year | 0 | 1 | |
Net amortization | 3 | 3 | |
Total | 13 | (25) | |
Ending balance | 33 | 20 | 45 |
Other Postretirement | MEC | Receivables (Payables) With Affiliates | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | (3) | (21) | (9) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (21) | (9) | |
Net loss (gain) arising during the year | (1) | (13) | |
Net prior service credit arising during the year | 19 | 0 | |
Net amortization | 0 | 1 | |
Total | 18 | (12) | |
Ending balance | (3) | (21) | (9) |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss (gain) | 365 | 343 | |
Prior service (credit) cost | (4) | (1) | |
Total | 390 | 353 | 613 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 353 | 613 | |
Net loss (gain) arising during the year | 76 | (231) | |
Settlement | (17) | (3) | 0 |
Net amortization | (19) | (25) | |
Total | 37 | (260) | |
Ending balance | 390 | 353 | 613 |
U.S. | Pension | Regulatory Asset | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 418 | 390 | 600 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 390 | 600 | |
Net loss (gain) arising during the year | 58 | (177) | |
Net amortization | (17) | (24) | |
Total | 28 | (210) | |
Ending balance | 418 | 390 | 600 |
U.S. | Pension | Regulatory Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | (28) | (59) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (59) | (20) | |
Net loss (gain) arising during the year | 38 | (44) | |
Net amortization | 0 | 0 | |
Total | 31 | (39) | |
Ending balance | (28) | (59) | (20) |
U.S. | Pension | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss (gain) | (4) | (25) | |
Prior service (credit) cost | (3) | 0 | |
Total | (7) | (25) | 18 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (25) | 18 | |
Net loss (gain) arising during the year | 26 | (47) | |
Net prior service credit arising during the year | (3) | ||
Settlement | (4) | 5 | 0 |
Net amortization | (1) | (1) | |
Total | 18 | (43) | |
Ending balance | (7) | (25) | 18 |
U.S. | Pension | MEC | Regulatory Asset | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | 14 | 22 | 21 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 22 | 21 | |
Net loss (gain) arising during the year | (7) | 2 | |
Net prior service credit arising during the year | 0 | ||
Settlement | 0 | 0 | |
Net amortization | (1) | (1) | |
Total | (8) | 1 | |
Ending balance | 14 | 22 | 21 |
U.S. | Pension | MEC | Regulatory Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | (1) | (55) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | (55) | (20) | |
Net loss (gain) arising during the year | 58 | (40) | |
Net prior service credit arising during the year | 0 | ||
Settlement | (4) | 5 | |
Net amortization | 0 | 0 | |
Total | 54 | (35) | |
Ending balance | (1) | (55) | (20) |
U.S. | Pension | MEC | Receivables (Payables) With Affiliates | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total | (20) | 8 | 17 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | |||
Beginning balance | 8 | 17 | |
Net loss (gain) arising during the year | (25) | (9) | |
Net prior service credit arising during the year | (3) | ||
Settlement | 0 | 0 | |
Net amortization | 0 | 0 | |
Total | (28) | (9) | |
Ending balance | $ (20) | $ 8 | $ 17 |
Employee Benefit Plans - MEC _5
Employee Benefit Plans - MEC - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 6.50% | 6% | |
Rate that the cost trend rate gradually declines to | 5% | 5% | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.54% | 2.95% | 2.59% |
Discount rate | 2.95% | 2.59% | 3.24% |
Expected return on plan assets | 4.20% | 3.35% | 5.42% |
MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 6.50% | 5.90% | |
Rate that the cost trend rate gradually declines to | 5% | 5% | |
Year that the rate reaches the rate it is assumed to remain at | 2028 | 2025 | |
MEC | Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.60% | 2.95% | 2.65% |
Discount rate | 2.95% | 2.65% | 3.20% |
Expected return on plan assets | 5.30% | 4% | 6% |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.65% | 2.98% | 2.60% |
Rate of compensation increase | 3% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 3.25% | 2.45% | 2.44% |
Interest crediting rates for cash balance plan, year two | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year three | 4.25% | 2.56% | 2.25% |
Interest crediting rates for cash balance plan, year four | 3.65% | 2.83% | 2.65% |
Interest crediting rates for cash balance plan, year five | 2.83% | 2.65% | |
Interest crediting rates for cash balance plan, year six | 2.65% | ||
Discount rate | 2.98% | 2.60% | 3.32% |
Expected return on plan assets | 4.30% | 5.39% | 5.94% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 3.25% | 2.45% | 2.44% |
U.S. | MEC | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.70% | 3.05% | 2.75% |
Rate of compensation increase | 3% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 3.74% | 1.19% | 2.27% |
Interest crediting rates for cash balance plan, year two | 3.74% | 1.19% | 0.99% |
Interest crediting rates for cash balance plan, year three | 3.74% | 1.19% | 0.99% |
Interest crediting rates for cash balance plan, year four | 3.74% | 1.19% | 0.99% |
Interest crediting rates for cash balance plan, year five | 1.19% | 0.99% | |
Interest crediting rates for cash balance plan, year six | 0.99% | ||
Discount rate | 3.05% | 2.75% | 3.40% |
Expected return on plan assets | 4.30% | 5.60% | 6.25% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 3.74% | 1.19% | 2.27% |
After-tax | MEC | Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 4.21% | 2.39% | 4.62% |
Employee Benefit Plans - MEC _6
Employee Benefit Plans - MEC - Contributions and Benefit Payments (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Pension | U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | $ 13 |
2023 | 192 |
2024 | 184 |
2025 | 180 |
2026 | 177 |
2027 | 172 |
2028-2032 | 782 |
Pension | MEC | U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 7 |
2023 | 59 |
2024 | 54 |
2025 | 53 |
2026 | 53 |
2027 | 51 |
2028-2032 | 231 |
Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | 53 |
2024 | 53 |
2025 | 53 |
2026 | 52 |
2027 | 52 |
2028-2032 | 235 |
Other Postretirement | U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 7 |
Other Postretirement | MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 2 |
2023 | 21 |
2024 | 22 |
2025 | 23 |
2026 | 23 |
2027 | 23 |
2028-2032 | $ 105 |
Employee Benefit Plans - MEC _7
Employee Benefit Plans - MEC - Asset Allocations (Details) - MEC | Dec. 31, 2022 |
Minimum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40% |
Minimum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35% |
Minimum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20% |
Minimum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60% |
Maximum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70% |
Maximum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60% |
Maximum | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15% |
Maximum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40% |
Maximum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80% |
Maximum | Other Postretirement | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5% |
Employee Benefit Plans - MEC _8
Employee Benefit Plans - MEC - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pension | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 2,013 | $ 2,795 | $ 2,824 |
Pension | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,096 | 1,412 | |
Pension | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 308 | 277 | |
Pension | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 788 | 1,135 | |
Pension | Cash equivalents | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
Pension | Cash equivalents | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Cash equivalents | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 64 | |
Pension | U.S. government obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
Pension | U.S. government obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 109 | 142 | |
Pension | U.S. government obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Corporate obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
Pension | Corporate obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Corporate obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 613 | 912 | |
Pension | Municipal obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
Pension | Municipal obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Municipal obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 66 | |
Pension | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
Pension | Agency, asset and mortgage-backed obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Agency, asset and mortgage-backed obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 81 | 93 | |
Pension | Equity securities, U.S. companies | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
Pension | Equity securities, U.S. companies | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 198 | 135 | |
Pension | Equity securities, U.S. companies | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | $ 0 | |
Pension | Equity securities, international companies | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
Pension | Equity securities, international companies | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
Pension | Equity securities, international companies | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | ||
Pension | Investment funds | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 53% | 54% | |
Percentage of funds comprised of debt securities | 47% | 46% | |
Percentage of funds invested in United States securities | 95% | 89% | |
Percentage of funds invested in international securities | 5% | 11% | |
Pension | Investment funds | NAV | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 885 | $ 1,349 | |
Pension | MEC | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 490 | 704 | 718 |
Pension | MEC | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 267 | 372 | |
Pension | MEC | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 94 | 68 | |
Pension | MEC | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 173 | 304 | |
Pension | MEC | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Cash equivalents | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 27 | |
Pension | MEC | Cash equivalents | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Cash equivalents | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 27 | |
Pension | MEC | Cash equivalents | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | U.S. government obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 33 | |
Pension | MEC | U.S. government obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 33 | |
Pension | MEC | U.S. government obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | U.S. government obligations | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Corporate obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 242 | |
Pension | MEC | Corporate obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Corporate obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 242 | |
Pension | MEC | Corporate obligations | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Municipal obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 18 | |
Pension | MEC | Municipal obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Municipal obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 18 | |
Pension | MEC | Municipal obligations | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 13 | 17 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 13 | 17 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Equity securities, U.S. companies | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 71 | 35 | |
Pension | MEC | Equity securities, U.S. companies | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 71 | 35 | |
Pension | MEC | Equity securities, U.S. companies | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Equity securities, U.S. companies | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | $ 0 | |
Pension | MEC | Equity securities, international companies | Level 1, 2 and 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
Pension | MEC | Equity securities, international companies | Level 1 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | ||
Pension | MEC | Equity securities, international companies | Level 2 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
Pension | MEC | Equity securities, international companies | Level 3 | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | ||
Pension | MEC | Investment funds | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 55% | 56% | |
Percentage of funds comprised of debt securities | 45% | 44% | |
Percentage of funds invested in United States securities | 97% | 90% | |
Percentage of funds invested in international securities | 3% | 10% | |
Pension | MEC | Investment funds | NAV | U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 223 | $ 332 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 614 | 769 | 744 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 482 | 607 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 337 | 437 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 145 | 170 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 24 | 16 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 12 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 9 | 4 | |
Other Postretirement | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 27 | |
Other Postretirement | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 52 | 85 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 43 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 49 | 38 | |
Other Postretirement | Equity securities, U.S. companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 7 | 4 | |
Other Postretirement | Equity securities, U.S. companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Other Postretirement | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 55% | 55% | |
Percentage of funds comprised of debt securities | 45% | 45% | |
Percentage of funds invested in United States securities | 88% | 88% | |
Percentage of funds invested in international securities | 12% | 12% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 307 | $ 394 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 307 | 394 | |
Other Postretirement | Investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 132 | 161 | |
Other Postretirement | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 240 | 308 | $ 278 |
Other Postretirement | MEC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 240 | 308 | |
Other Postretirement | MEC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 213 | 271 | |
Other Postretirement | MEC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 37 | |
Other Postretirement | MEC | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 8 | |
Other Postretirement | MEC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 10 | 8 | |
Other Postretirement | MEC | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Cash equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | U.S. government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2 | 3 | |
Other Postretirement | MEC | U.S. government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2 | 3 | |
Other Postretirement | MEC | U.S. government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | U.S. government obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 3 | 6 | |
Other Postretirement | MEC | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 3 | 6 | |
Other Postretirement | MEC | Corporate obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 28 | |
Other Postretirement | MEC | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 28 | |
Other Postretirement | MEC | Municipal obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2 | 3 | |
Other Postretirement | MEC | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2 | 3 | |
Other Postretirement | MEC | Agency, asset and mortgage-backed obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Other Postretirement | MEC | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 82% | 82% | |
Percentage of funds comprised of debt securities | 18% | 18% | |
Percentage of funds invested in United States securities | 82% | 82% | |
Percentage of funds invested in international securities | 18% | 18% | |
Other Postretirement | MEC | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 201 | $ 260 | |
Other Postretirement | MEC | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 201 | 260 | |
Other Postretirement | MEC | Investment funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | Investment funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 |
Employee Benefit Plans - MEC _9
Employee Benefit Plans - MEC - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 33 | $ 27 | $ 26 |
Employee Benefit Plans - MidAme
Employee Benefit Plans - MidAmerican Funding - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | MidAmerican Funding, LLC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | $ 8 | $ 21 | $ 7 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | 1 | 6 | (10) |
Other Postretirement | MidAmerican Funding, LLC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | $ 1 | $ 2 | $ (3) |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 8,000,000 | $ 14,000,000 | |
Other assets | 52,000,000 | 60,000,000 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (7,000,000) | (5,000,000) | |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 14,000,000 | 13,000,000 | |
Other assets | 125,000,000 | 204,000,000 | |
Other current liabilities | (13,000,000) | (13,000,000) | |
Other long-term liabilities | (139,000,000) | (173,000,000) | |
U.S. | Other Postretirement | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | $ 0 |
U.S. | Other Postretirement | NPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 7,000,000 | 8,000,000 | |
U.S. | Qualified Plan | Pension | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | 0 |
U.S. | Qualified Plan | Pension | NPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 27,000,000 | 42,000,000 | |
U.S. | Nonqualified Plan | Other Pension Plan | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1,000,000 | 1,000,000 | $ 1,000,000 |
U.S. | Nonqualified Plan | Other Pension Plan | NPC | Other current liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other current liabilities | (1,000,000) | (1,000,000) | |
U.S. | Nonqualified Plan | Other Pension Plan | NPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | $ (6,000,000) | $ (8,000,000) |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 8,000,000 | $ 14,000,000 | |
Other assets | 52,000,000 | 60,000,000 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (7,000,000) | (5,000,000) | |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 14,000,000 | 13,000,000 | |
Other assets | 125,000,000 | 204,000,000 | |
Other current liabilities | (13,000,000) | (13,000,000) | |
Other long-term liabilities | (139,000,000) | (173,000,000) | |
U.S. | Other Postretirement | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 5,000,000 | 1,000,000 | $ 0 |
U.S. | Other Postretirement | SPPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | (2,000,000) | (10,000,000) | |
U.S. | Qualified Plan | Pension | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | 0 |
U.S. | Qualified Plan | Pension | SPPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 43,000,000 | 62,000,000 | |
U.S. | Nonqualified Plan | Other Pension Plan | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1,000,000 | 1,000,000 | $ 1,000,000 |
U.S. | Nonqualified Plan | Other Pension Plan | SPPC | Other current liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other current liabilities | (1,000,000) | (1,000,000) | |
U.S. | Nonqualified Plan | Other Pension Plan | SPPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | $ (5,000,000) | $ (7,000,000) |
Employee Benefit Plans - EEGH -
Employee Benefit Plans - EEGH - GT&S Transaction (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Nov. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Distribution of net assets | $ 699 | |||
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 8 | $ 14 | ||
Net periodic benefit cost (credit) | 1 | 6 | (10) | |
EEGH | MidAmerican Energy Pension Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 14 | 18 | 3 | |
EEGH | MidAmerican Energy Retiree Health and Welfare Plan | Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 2 | 10 | 2 | |
EEGH | BHE GT&S, LLC Defined Contribution Savings Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined contribution plan, employer contribution | $ 6 | $ 5 | 1 | |
EEGH | Dominion Energy Pension Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | (14) | |||
EEGH | Dominion Energy Retiree Health and Welfare Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | $ (5) | |||
EEGH | Disposed of by means other than sale | Dominion Energy Questar Pipeline | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Distribution of net assets | $ 699 | |||
EEGH | Disposed of by means other than sale | Pension plan asset | Dominion Energy Questar Pipeline | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Distribution of net assets | $ 895 |
Employee Benefit Plans - EEGH_2
Employee Benefit Plans - EEGH - Pension Remeasurement (Details) - EEGH - Pension Benefit Plan Associated With GT&S Transaction $ in Millions | 3 Months Ended |
Sep. 30, 2020 USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Increase in the pension benefit obligation | $ 3 |
Decrease in fair value of the pension plan assets | $ 7 |
Discount rate | 3.16% |
Employee Benefit Plans - EEGH_3
Employee Benefit Plans - EEGH - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 11 | $ 12 | $ 7 |
Interest cost | 20 | 19 | 21 |
Expected return on plan assets | (29) | (22) | (34) |
Net amortization | (1) | (3) | (4) |
Net periodic benefit cost (credit) | 1 | 6 | (10) |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Expected return on plan assets | (108) | (134) | (140) |
Net amortization | 19 | 25 | 32 |
Net periodic benefit cost (credit) | $ 23 | $ 2 | 2 |
U.S. | Pension | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 5 | ||
Interest cost | 8 | ||
Expected return on plan assets | (47) | ||
Net amortization | 5 | ||
Net periodic benefit cost (credit) | (29) | ||
U.S. | Other Postretirement | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 1 | ||
Interest cost | 4 | ||
Expected return on plan assets | (16) | ||
Net amortization | (3) | ||
Net periodic benefit cost (credit) | $ (14) |
Employee Benefit Plans - EEGH_4
Employee Benefit Plans - EEGH - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 6.50% | 6% | |
Rate that the cost trend rate gradually declines to | 5% | 5% | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.54% | 2.95% | 2.59% |
Expected return on plan assets | 4.20% | 3.35% | 5.42% |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.65% | 2.98% | 2.60% |
Expected return on plan assets | 4.30% | 5.39% | 5.94% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
U.S. | Pension | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 8.60% | ||
Rate of compensation increase | 4.73% | ||
U.S. | Pension | EEGH | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.16% | ||
U.S. | Pension | EEGH | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.63% | ||
U.S. | Other Postretirement | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.44% | ||
Expected return on plan assets | 8.50% | ||
Healthcare cost trend rate assumed for next year | 6.50% | ||
Rate that the cost trend rate gradually declines to | 5% |
Employee Benefit Plans - EEGH_5
Employee Benefit Plans - EEGH - Defined Contribution Plans (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
EEGH | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined contribution plan cost | $ 3 |
Employee Benefit Plans - EGTS -
Employee Benefit Plans - EGTS - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Nov. 30, 2020 | Jul. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Distribution of net assets | $ 699 | |||||
Other Postretirement | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Employer contributions | $ 8 | $ 14 | ||||
Net periodic benefit cost (credit) | $ 1 | $ 6 | $ (10) | |||
Discount rate | 4.54% | 2.95% | 2.59% | |||
Defined contribution plan cost | $ 159 | $ 137 | $ 127 | |||
EGTS | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined contribution plan cost | 2 | |||||
EGTS | MidAmerican Energy Company Retirement Plan | Pension | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Employer contributions | 12 | 16 | 2 | |||
EGTS | MidAmerican Energy Company Welfare Benefit Plan | Other Postretirement | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Employer contributions | 2 | 9 | 2 | |||
EGTS | BHE GT&S, LLC Defined Contribution Savings Plan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined contribution plan, employer contribution | $ 5 | $ 4 | 1 | |||
EGTS | Dominion Energy Pension Plan | Pension | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Net periodic benefit cost (credit) | (17) | |||||
EGTS | Dominion Energy Retiree Health and Welfare Plan | Pension | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Net periodic benefit cost (credit) | $ (5) | |||||
EGTS | Pension Benefit Plan Associated With GT&S Transaction | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase in the pension benefit obligation | $ 3 | |||||
Decrease in fair value of the pension plan assets | $ 7 | |||||
Discount rate | 3.16% | |||||
EGTS | Disposed of by means other than sale | Pension plan asset | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Distribution of net assets | $ 904 | $ 904 |
Employee Benefit Plans - EGTS_2
Employee Benefit Plans - EGTS - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 11 | $ 12 | $ 7 |
Interest cost | 20 | 19 | 21 |
Expected return on plan assets | (29) | (22) | (34) |
Settlement | 0 | 0 | 0 |
Net amortization | (1) | (3) | (4) |
Net periodic benefit cost (credit) | 1 | 6 | (10) |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 22 | 30 | 17 |
Interest cost | 83 | 78 | 93 |
Expected return on plan assets | (108) | (134) | (140) |
Settlement | 17 | 3 | 0 |
Net amortization | 19 | 25 | 32 |
Net periodic benefit cost (credit) | $ 23 | $ 2 | 2 |
U.S. | Pension | EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 5 | ||
Interest cost | 8 | ||
Expected return on plan assets | (47) | ||
Net amortization | 3 | ||
Net periodic benefit cost (credit) | (31) | ||
U.S. | Other Postretirement | EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 1 | ||
Interest cost | 4 | ||
Expected return on plan assets | (16) | ||
Net amortization | (3) | ||
Net periodic benefit cost (credit) | $ (14) |
Employee Benefit Plans - EGTS_3
Employee Benefit Plans - EGTS - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 6.50% | 6% | |
Rate that the cost trend rate gradually declines to | 5% | 5% | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.54% | 2.95% | 2.59% |
Expected return on plan assets | 4.20% | 3.35% | 5.42% |
U.S. | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 5.65% | 2.98% | 2.60% |
Expected return on plan assets | 4.30% | 5.39% | 5.94% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
U.S. | Pension | EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 8.60% | ||
Rate of compensation increase | 4.73% | ||
U.S. | Pension | EGTS | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.16% | ||
U.S. | Pension | EGTS | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.63% | ||
U.S. | Other Postretirement | EGTS | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.44% | ||
Expected return on plan assets | 8.50% | ||
Healthcare cost trend rate assumed for next year | 6.50% | ||
Rate that the cost trend rate gradually declines to | 5% |
Asset Retirement Obligations -
Asset Retirement Obligations - Asset Retirement Obligation By Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,369 | $ 7,214 | |
Asset retirement obligations | 1,328 | 1,340 | $ 1,341 |
Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 417 | 427 | |
Fossil-fueled generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 396 | 466 | |
Wind-powered generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 353 | 299 | |
Solar-powered generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 30 | 25 | |
Offshore pipeline facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 14 | 14 | |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 118 | 109 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,578 | 2,424 | |
Quad Cities Station nuclear decommissioning trust funds | |||
Asset Retirement Obligations By Type [Line Items] | |||
Nuclear decommissioning trust | $ 664 | $ 768 |
Asset Retirement Obligations _2
Asset Retirement Obligations - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Change in estimated costs | 2 | 81 |
Acquisitions | 29 | 0 |
Additions | 32 | 15 |
Retirements | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Other current liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 130 | |
Ending Balance | 76 | 130 |
Other long-term liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 1,210 | |
Ending Balance | 1,252 | 1,210 |
Fossil-fueled generating facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 466 | |
Ending Balance | 396 | 466 |
MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 787 | 818 |
Change in estimated costs | (27) | 35 |
Additions | 2 | 6 |
Retirements | (85) | (103) |
Accretion | 30 | 31 |
Ending Balance | 707 | 787 |
MEC | Fossil-fueled generating facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 161 | |
Ending Balance | $ 76 | $ 161 |
Asset Retirement Obligations _3
Asset Retirement Obligations - PAC - Asset Retirement Obligations By Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 7,070 | $ 6,960 |
PAC | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | 2,843 | 2,650 |
PAC | Cost of removal | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 1,332 | $ 1,187 |
Asset Retirement Obligations _4
Asset Retirement Obligations - PAC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Change in estimated costs | 2 | 81 |
Additions | 32 | 15 |
Retirements | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Other current liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 130 | |
Ending Balance | 76 | 130 |
Other long-term liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 1,210 | |
Ending Balance | 1,252 | 1,210 |
PAC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 304 | 270 |
Change in estimated costs | 20 | 40 |
Additions | 3 | 0 |
Retirements | (6) | (15) |
Accretion | 10 | 9 |
Ending Balance | 331 | 304 |
PAC | Other current liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 5 | |
Ending Balance | 11 | 5 |
PAC | Other long-term liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 299 | |
Ending Balance | $ 320 | $ 299 |
Asset Retirement Obligations _5
Asset Retirement Obligations - MEC - Asset Retirement Obligations By Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,369 | $ 7,214 | |
Asset retirement obligations | 1,328 | 1,340 | $ 1,341 |
Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 417 | 427 | |
Fossil-fueled generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 396 | 466 | |
Wind-powered generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 353 | 299 | |
MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 707 | 787 | $ 818 |
MEC | Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 417 | 427 | |
MEC | Fossil-fueled generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 76 | 161 | |
MEC | Wind-powered generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 210 | 197 | |
MEC | Solar-powered generating facilities and other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 4 | 2 | |
Quad Cities Station | MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Quad Cities Station nuclear decommissioning trust funds | 664 | 768 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,578 | 2,424 | |
Cost of removal | MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 392 | $ 394 |
Asset Retirement Obligations _6
Asset Retirement Obligations - MEC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Change in estimated costs | 2 | 81 |
Additions | 32 | 15 |
Asset Retirement Obligation, Liabilities Settled | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Total ARO liability | 1,328 | 1,340 |
MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 787 | 818 |
Change in estimated costs | (27) | 35 |
Additions | 2 | 6 |
Asset Retirement Obligation, Liabilities Settled | (85) | (103) |
Accretion | 30 | 31 |
Ending Balance | 707 | 787 |
Current liabilities | 24 | 73 |
Other long-term liabilities | 683 | 714 |
Total ARO liability | 707 | 787 |
Fossil-fueled generating facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 466 | |
Ending Balance | 396 | 466 |
Total ARO liability | 396 | 466 |
Fossil-fueled generating facilities | MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 161 | |
Ending Balance | 76 | 161 |
Total ARO liability | $ 76 | $ 161 |
Asset Retirement Obligations _7
Asset Retirement Obligations - NPC - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,369 | $ 7,214 | |
Asset retirement obligations | 1,328 | 1,340 | $ 1,341 |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 118 | 109 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,578 | 2,424 | |
NPC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 1,138 | 1,149 | |
Asset retirement obligations | 59 | 68 | $ 72 |
NPC | Waste water remediation | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 31 | 37 | |
NPC | Evaporative ponds and dry ash landfills | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 14 | 13 | |
NPC | Solar-powered generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 3 | 3 | |
NPC | Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 11 | 15 | |
NPC | Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 358 | $ 348 |
Asset Retirement Obligations _8
Asset Retirement Obligations - NPC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Change in estimated costs | 2 | 81 |
Retirements | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Other current liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 130 | |
Ending Balance | 76 | 130 |
Other long-term liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 1,210 | |
Ending Balance | 1,252 | 1,210 |
NPC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 68 | 72 |
Change in estimated costs | 5 | 0 |
Retirements | (16) | (6) |
Accretion | 2 | 2 |
Ending Balance | 59 | 68 |
NPC | Other current liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 19 | |
Ending Balance | 16 | 19 |
NPC | Other long-term liabilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 49 | |
Ending Balance | $ 43 | $ 49 |
Asset Retirement Obligations _9
Asset Retirement Obligations - SPPC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,369 | $ 7,214 | |
Asset retirement obligations | 1,328 | 1,340 | $ 1,341 |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 118 | 109 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,578 | 2,424 | |
SPPC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 455 | 463 | |
Asset retirement obligations | 11 | 11 | |
SPPC | Asbestos | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 5 | 5 | |
SPPC | Evaporative ponds and dry ash landfills | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 3 | 3 | |
SPPC | Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 3 | 3 | |
SPPC | Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 200 | $ 201 |
Asset Retirement Obligations_10
Asset Retirement Obligations - EEGH - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 7,070 | $ 6,960 |
EEGH | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | 596 | 645 |
Cost of removal | EEGH | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 82 | $ 73 |
Asset Retirement Obligations_11
Asset Retirement Obligations - EEGH - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Additions | 32 | 15 |
Retirements | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Total ARO liability | 1,328 | 1,340 |
EEGH | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 55 | 71 |
Additions | 4 | 0 |
Retirements | (12) | (17) |
Accretion | 1 | 1 |
Ending Balance | 48 | 55 |
Current liabilities | 25 | 33 |
Other long-term liabilities | 23 | 22 |
Total ARO liability | $ 48 | $ 55 |
Asset Retirement Obligations_12
Asset Retirement Obligations - EGTS - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 7,070 | $ 6,960 |
EGTS | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | 518 | 507 |
Cost of removal | EGTS | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 24 | $ 16 |
Asset Retirement Obligations_13
Asset Retirement Obligations - EGTS - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,340 | $ 1,341 |
Additions | 32 | 15 |
Retirements | (122) | (144) |
Accretion | 47 | 47 |
Ending Balance | 1,328 | 1,340 |
Total ARO liability | 1,328 | 1,340 |
EGTS | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 55 | 71 |
Additions | 4 | 0 |
Retirements | (12) | (17) |
Accretion | 1 | 1 |
Ending Balance | 48 | 55 |
Current liabilities | 25 | 33 |
Other long-term liabilities | 23 | 22 |
Total ARO liability | $ 48 | $ 55 |
Risk Management and Hedging A_3
Risk Management and Hedging Activities - PAC - Balance Sheet Location (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | $ 270 | $ 53 | ||
Cash collateral receivable (payable) | (78) | 5 | ||
Total derivatives - net basis | 192 | 58 | ||
Cash collateral payable, not offset | 12 | |||
Other current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | 257 | 76 | ||
Cash collateral receivable (payable) | (73) | 0 | ||
Total derivatives - net basis | 184 | 76 | ||
Other non-current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | 20 | 20 | ||
Cash collateral receivable (payable) | (5) | 0 | ||
Total derivatives - net basis | 15 | 20 | ||
Other current liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | (5) | (36) | ||
Cash collateral receivable (payable) | 0 | 5 | ||
Total derivatives - net basis | (5) | (31) | ||
Other long-term liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | (2) | (7) | ||
Cash collateral receivable (payable) | 0 | 0 | ||
Total derivatives - net basis | (2) | (7) | ||
Not designated as hedging contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 318 | 104 | ||
Derivative liability, not subject to master netting arrangement | (48) | (51) | ||
Derivative, fair value, net | 270 | 53 | ||
Net regulatory asset (liability) on derivative contracts | (270) | (53) | $ 17 | $ 62 |
Not designated as hedging contracts | Other current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 279 | 81 | ||
Derivative liability, not subject to master netting arrangement | (22) | (5) | ||
Derivative, fair value, net | 257 | 76 | ||
Not designated as hedging contracts | Other non-current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 27 | 21 | ||
Derivative liability, not subject to master netting arrangement | (7) | (1) | ||
Derivative, fair value, net | 20 | 20 | ||
Not designated as hedging contracts | Other current liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 9 | 2 | ||
Derivative liability, not subject to master netting arrangement | (14) | (38) | ||
Derivative, fair value, net | (5) | (36) | ||
Not designated as hedging contracts | Other long-term liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 3 | 0 | ||
Derivative liability, not subject to master netting arrangement | (5) | (7) | ||
Derivative, fair value, net | $ (2) | $ (7) |
Risk Management and Hedging A_4
Risk Management and Hedging Activities - PAC - Not Designated as Hedging Contracts (Details) - PAC - Not designated as hedging contracts - Commodity derivatives - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets (Liabilities), Net, Derivatives [Roll Forward] | |||
Beginning balance | $ (53) | $ 17 | $ 62 |
Changes in fair value recognized in regulatory (liabilities) assets | (513) | (171) | (11) |
Net (losses) gains reclassified to operating revenue | (13) | (23) | 3 |
Net gains (losses) reclassified to cost of fuel and energy | 309 | 124 | (37) |
Ending balance | $ (270) | $ (53) | $ 17 |
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 | Dec. 31, 2022 Dth MWh | Dec. 31, 2021 Dth MWh |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Electricity purchases, net | MWh | 2 | 2 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 127 | 106 |
Risk Management and Hedging A_6
Risk Management and Hedging Activities - PAC - Collateral and Contingent Features (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 48 | $ 37 |
Collateral already posted, aggregate fair value | 0 | 5 |
Additional collateral, aggregate fair value | $ 3 | $ 23 |
Risk Management and Hedging A_7
Risk Management and Hedging Activities - NPC - Balance Sheet Location (Details) - NPC - Commodity derivatives - Not designated as hedging contracts - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | $ 23 | $ 4 |
Derivative liability, not subject to master netting arrangement | (75) | (117) |
Derivative, fair value, net | (52) | (113) |
Net regulatory asset (liability) on derivative contracts | 52 | 113 |
Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 23 | 4 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Derivative, fair value, net | 23 | 4 |
Derivative contracts, current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | (51) | (55) |
Derivative, fair value, net | (51) | (55) |
Other long-term liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | (24) | (62) |
Derivative, fair value, net | $ (24) | $ (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 | Dec. 31, 2022 MWh Dth | Dec. 31, 2021 Dth MWh |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | MWh | 2 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 109 | 119 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 5 | $ 6 |
Risk Management and Hedging _10
Risk Management and Hedging Activities - SPPC - Balance Sheet Location (Details) - SPPC - Commodity derivatives - Not designated as hedging contracts - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | $ 8 | $ 2 |
Derivative liability, not subject to master netting arrangement | (21) | (35) |
Derivative, fair value, net | (13) | (33) |
Net regulatory asset (liability) on derivative contracts | 13 | 33 |
Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 8 | 2 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Derivative, fair value, net | 8 | 2 |
Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | (14) | (16) |
Derivative, fair value, net | (14) | (16) |
Other long-term liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | (7) | (19) |
Derivative, fair value, net | $ (7) | $ (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 | Dec. 31, 2022 Dth MWh | Dec. 31, 2021 MWh Dth |
Electricity purchases, net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | MWh | 1 | 1 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 52 | 53 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Commodity derivatives | SPPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 0 | $ 0 |
Risk Management and Hedging _13
Risk Management and Hedging Activities - EEGH - Narrative (Details) - customer | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
EGTS | ||
Derivative [Line Items] | ||
Number of customers serviced | 266 | |
Revenue | Customer concentration risk | EEGH | Export customers | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 38% | 40% |
Revenue | Customer concentration risk | EEGH | Eastern Energy's largest customer | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 20% | 20% |
Revenue, product and service | Customer concentration risk | EGTS | Storage and transmission | Directly to consumer | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 95% | |
Revenue, product and service | Customer concentration risk | EGTS | Ten largest customers | Storage and transmission | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 38% | |
Revenue, product and service | Customer concentration risk | EGTS | Thirty largest customers | Storage and transmission | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 71% |
Risk Management and Hedging _14
Risk Management and Hedging Activities - EEGH - Schedule of Notional Amounts (Details) - EEGH € in Millions, Dth in Millions | Dec. 31, 2022 EUR (€) Dth | Dec. 31, 2021 EUR (€) Dth |
Foreign currency exchange rate derivatives | ||
Derivative [Line Items] | ||
Notional amount | € | € 250 | € 250 |
Commodity derivatives | Natural gas purchases | ||
Derivative [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 3 | 2 |
Risk Management and Hedging _15
Risk Management and Hedging Activities - EGTS (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Ten largest customers | Storage and transmission | Revenue, product and service | Customer concentration risk | EGTS | |
Derivative [Line Items] | |
Concentration risk, percentage | 38% |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, statement of financial position, extensible enumeration, not disclosed flag | Liabilities: | Liabilities: |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (194) | $ (47) |
Assets, fair value | 8,824 | 10,843 |
Derivative liability, offset | 107 | 73 |
Liabilities, fair value | (242) | (277) |
Cash collateral receivable (payable), offset against derivative positions | (87) | 26 |
Recurring | Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 474 | 1,263 |
Recurring | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1,178 | 554 |
Recurring | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2,146 | 232 |
Recurring | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Recurring | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 90 |
Recurring | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Recurring | Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Recurring | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 360 | 428 |
Recurring | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3,771 | 7,703 |
Recurring | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 231 | 237 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Liabilities, fair value | (8) | (2) |
Recurring | 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 |
Recurring | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1,178 | 554 |
Recurring | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2,146 | 232 |
Recurring | Level 1 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 1 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 1 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | 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 |
Recurring | Level 1 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 360 | 428 |
Recurring | Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3,771 | 7,703 |
Recurring | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 231 | 237 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Liabilities, fair value | (229) | (123) |
Recurring | 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 | 474 | 1,263 |
Recurring | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 2 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 2 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 1 | 2 |
Recurring | Level 2 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 70 | 90 |
Recurring | Level 2 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 3 |
Recurring | 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 |
Recurring | Level 2 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Liabilities, fair value | (112) | (225) |
Recurring | 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 |
Recurring | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 3 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | 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 |
Recurring | Level 3 | U.S. companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Recurring | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (194) | (47) |
Derivative assets | 477 | 302 |
Derivative liability, offset | 106 | 73 |
Derivative liability | (218) | (266) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 6 | 5 |
Derivative liability, not subject to master netting arrangement | (8) | (2) |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 614 | 271 |
Derivative liability, not subject to master netting arrangement | (206) | (113) |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 51 | 73 |
Derivative liability, not subject to master netting arrangement | (110) | (224) |
Foreign currency exchange rate derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 3 | |
Derivative liability | (21) | (3) |
Foreign currency exchange rate derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Foreign currency exchange rate derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 3 | |
Derivative liability, not subject to master netting arrangement | (21) | (3) |
Foreign currency exchange rate derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Interest rate derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 112 | 24 |
Derivative liability, offset | 1 | |
Derivative liability | (3) | (8) |
Interest rate derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 50 | 1 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Interest rate derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 54 | 3 |
Derivative liability, not subject to master netting arrangement | (2) | (7) |
Interest rate derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 8 | 20 |
Derivative liability, not subject to master netting arrangement | $ (2) | $ (1) |
Fair Value Measurements - Level
Fair Value Measurements - Level 3 (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Commodity Derivatives | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ (151) | $ 116 | $ 97 |
Changes included in earnings | (85) | (43) | (10) |
Changes in fair value recognized in OCI | 9 | (13) | 0 |
Changes in fair value recognized in net regulatory assets | (52) | (118) | (17) |
Purchases | 3 | (76) | 5 |
Settlements | 171 | (34) | 41 |
Transfers out of Level 3 into Level 2 | 46 | 17 | 0 |
Ending balance | (59) | (151) | 116 |
Interest Rate Derivatives | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 19 | 62 | 14 |
Changes included in earnings | (13) | (43) | 48 |
Changes in fair value recognized in OCI | 0 | 0 | 0 |
Changes in fair value recognized in net regulatory assets | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Transfers out of Level 3 into Level 2 | 0 | 0 | 0 |
Ending balance | $ 6 | $ 19 | $ 62 |
Fair Value Measurements - Debt
Fair Value Measurements - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 46,906 | $ 57,189 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (194) | $ (47) |
Assets, fair value | 8,824 | 10,843 |
Derivative liability, offset | 107 | 73 |
Cash collateral receivable (payable), offset against derivative positions | (87) | 26 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (194) | (47) |
Derivative assets | 477 | 302 |
Derivative liability, offset | 106 | 73 |
Derivative liability | (218) | (266) |
Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 6 | 5 |
Derivative liability, not subject to master netting arrangement | 8 | 2 |
Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 614 | 271 |
Derivative liability, not subject to master netting arrangement | 206 | 113 |
Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 51 | 73 |
Derivative liability, not subject to master netting arrangement | 110 | 224 |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 871 | 304 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 672 | 208 |
PAC | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 318 | 104 |
PAC | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
PAC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash collateral receivable (payable), offset against derivative positions | (78) | 5 |
Cash collateral payable, not offset | 12 | |
PAC | Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (119) | (8) |
Derivative assets | 199 | 96 |
Derivative liability, offset | 41 | 13 |
Derivative liability | (7) | (38) |
Cash collateral receivable (payable), offset against derivative positions | (78) | 5 |
Cash collateral payable, not offset | 12 | |
PAC | Commodity derivatives | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
PAC | Commodity derivatives | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 318 | 104 |
Derivative liability, not subject to master netting arrangement | 48 | 51 |
PAC | Commodity derivatives | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
PAC | Money market mutual funds | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 649 | 181 |
PAC | Money market mutual funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 649 | 181 |
PAC | Money market mutual funds | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
PAC | Money market mutual funds | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
PAC | Investment funds | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 23 | 27 |
PAC | Investment funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 23 | 27 |
PAC | Investment funds | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
PAC | Investment funds | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | $ 0 | $ 0 |
Fair Value Measurements - PAC -
Fair Value Measurements - PAC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
PAC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 9,666 | 8,730 |
PAC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 9,045 | $ 10,374 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (194) | $ (47) |
Assets, fair value | 8,824 | 10,843 |
Derivative liability, offset | 107 | 73 |
Cash collateral receivable (payable), offset against derivative positions | (87) | 26 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1,178 | 554 |
U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2,146 | 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 | 70 | 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] | ||
Investment funds | 360 | 428 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3,771 | 7,703 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 231 | 237 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1,178 | 554 |
Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2,146 | 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] | ||
Investment funds | 360 | 428 |
Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3,771 | 7,703 |
Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 231 | 237 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 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 | 70 | 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] | ||
Investment funds | 0 | 0 |
Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 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] | ||
Investment funds | 0 | 0 |
Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (194) | (47) |
Derivative liability, offset | 106 | 73 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 6 | 5 |
Derivative liability, not subject to master netting arrangement | (8) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 614 | 271 |
Derivative liability, not subject to master netting arrangement | (206) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 51 | 73 |
Derivative liability, not subject to master netting arrangement | (110) | (224) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (10) | (7) |
Assets, fair value | 933 | 1,041 |
Cash collateral receivable (payable), offset against derivative positions | 0 | 5 |
MEC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 225 | 228 |
MEC | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 215 | 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 | 70 | 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] | ||
Investment funds | 360 | 428 |
MEC | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 8 | 10 |
MEC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 16 | 18 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 825 | 916 |
MEC | Level 1 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 225 | 228 |
MEC | Level 1 | U.S. government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 215 | 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] | ||
Investment funds | 360 | 428 |
MEC | Level 1 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 8 | 10 |
MEC | Level 1 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 16 | 18 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 112 | 129 |
MEC | Level 2 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 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 | 70 | 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] | ||
Investment funds | 0 | 0 |
MEC | Level 2 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
MEC | Level 2 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6 | 3 |
MEC | Level 3 | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 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] | ||
Investment funds | 0 | 0 |
MEC | Level 3 | International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
MEC | Level 3 | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
MEC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 34 | 28 |
Derivative asset, offset | (10) | (7) |
Derivative liability, not subject to master netting arrangement | (3) | (2) |
Derivative liability, offset | 10 | 12 |
MEC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 1 | 0 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
MEC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 37 | 32 |
Derivative liability, not subject to master netting arrangement | (12) | (6) |
MEC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 6 | 3 |
Derivative liability, not subject to master netting arrangement | $ (1) | $ (8) |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Level 3 (Details) - MEC - Commodity Derivatives - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ (5) | $ 2 | $ 1 |
Changes in fair value recognized in net regulatory assets | 37 | (2) | 2 |
Settlements | (27) | (5) | (1) |
Ending balance | $ 5 | $ (5) | $ 2 |
Fair Value Measurements - MEC_2
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
MEC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 7,729 | 7,721 |
Long-term debt, fair value | $ 9,037 | |
MEC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 6,964 |
Fair Value Measurements - MidAm
Fair Value Measurements - MidAmerican Funding - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
MidAmerican Funding, LLC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 7,969 | 7,961 |
Long-term debt, fair value | $ 9,350 | |
MidAmerican Funding, LLC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 7,219 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,824 | $ 10,843 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 477 | 302 |
Derivative liability | (218) | (266) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 60 | 41 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 37 | 37 |
NPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
NPC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 23 | 4 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 34 | 34 |
NPC | Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 34 | 34 |
NPC | Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
NPC | Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
NPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3 | 3 |
NPC | Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3 | 3 |
NPC | Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
NPC | Investment funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
NPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 23 | 4 |
Derivative liability | (75) | (117) |
NPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 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 assets | 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 assets | 23 | 4 |
Derivative liability | $ (75) | $ (117) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity Derivatives - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ (113) | $ 15 | $ (8) |
Changes in fair value recognized in net regulatory assets | (68) | (90) | (17) |
Settlements | 129 | (38) | 40 |
Ending balance | $ (52) | $ (113) | $ 15 |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
NPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 3,195 | 2,499 |
NPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,114 | $ 3,067 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,824 | $ 10,843 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 6 | 5 |
Derivative liability, not subject to master netting arrangement | (8) | (2) |
Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 614 | 271 |
Derivative liability, not subject to master netting arrangement | (206) | (113) |
Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 51 | 73 |
Derivative liability, not subject to master netting arrangement | (110) | (224) |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 58 | 13 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 50 | 11 |
SPPC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
SPPC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 8 | 2 |
SPPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, not subject to master netting arrangement | (21) | (35) |
SPPC | Commodity derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, not subject to master netting arrangement | 0 | 0 |
SPPC | Commodity derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, not subject to master netting arrangement | 0 | 0 |
SPPC | Commodity derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, not subject to master netting arrangement | (21) | (35) |
SPPC | Commodity Derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 8 | 2 |
SPPC | Commodity Derivatives | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
SPPC | Commodity Derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 0 | 0 |
SPPC | Commodity Derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 8 | 2 |
SPPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 49 | 10 |
SPPC | Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 49 | 10 |
SPPC | Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
SPPC | Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
SPPC | Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1 | 1 |
SPPC | Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1 | 1 |
SPPC | Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
SPPC | Investment funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | $ 0 | $ 0 |
Fair Value Measurements - SPP_2
Fair Value Measurements - SPPC - Level 3 (Details) - Commodity Derivatives - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ (33) | $ 7 | $ (1) |
Changes in fair value recognized in net regulatory assets | (21) | (25) | (2) |
Settlements | 41 | (15) | 10 |
Ending balance | $ (13) | $ (33) | $ 7 |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
SPPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 1,148 | 1,164 |
SPPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,111 | $ 1,316 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | $ 8,824 | $ 10,843 |
Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 231 | 237 |
EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 57 | 16 |
Derivative liability | (20) | (3) |
EEGH | Money market mutual funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Money market mutual funds | 42 | |
EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 14 | 13 |
Level 1 | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Level 1 | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 231 | 237 |
Level 1 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 56 | 13 |
Derivative liability | 0 | 0 |
Level 1 | EEGH | Money market mutual funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Money market mutual funds | 42 | |
Level 1 | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 14 | 13 |
Level 2 | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Level 2 | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Level 2 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 1 | 3 |
Derivative liability | (20) | (3) |
Level 2 | EEGH | Money market mutual funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Money market mutual funds | 0 | |
Level 2 | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 59 | 93 |
Level 3 | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Level 3 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 0 | 0 |
Derivative liability | 0 | 0 |
Level 3 | EEGH | Money market mutual funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Money market mutual funds | 0 | |
Level 3 | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Commodity derivatives | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 477 | 302 |
Derivative liability | (218) | (266) |
Commodity derivatives | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 1 | |
Commodity derivatives | Level 1 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | |
Commodity derivatives | Level 2 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 1 | |
Commodity derivatives | Level 3 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | |
Derivative liability | (21) | (3) |
Foreign currency exchange rate derivatives | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | |
Derivative liability | (20) | (3) |
Foreign currency exchange rate derivatives | Level 1 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | |
Derivative liability | 0 | 0 |
Foreign currency exchange rate derivatives | Level 2 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | |
Derivative liability | (20) | (3) |
Foreign currency exchange rate derivatives | Level 3 | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | |
Derivative liability | $ 0 | $ 0 |
Fair Value Measurements - EEG_2
Fair Value Measurements - EEGH - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 51,635 | $ 49,762 |
EEGH | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 3,892 | 3,906 |
Long-term debt, fair value | $ 3,510 | $ 4,266 |
Fair Value Measurements - EGTS
Fair Value Measurements - EGTS (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 8,824 | $ 10,843 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 477 | 302 |
EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 14 | 13 |
Assets, fair value | 23 | 13 |
EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 1 | |
EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 8 | |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 7,742 | 9,160 |
Level 1 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 14 | 13 |
Assets, fair value | 22 | 13 |
Level 1 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | |
Level 1 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 8 | |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,217 | 1,637 |
Level 2 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Assets, fair value | 1 | 0 |
Level 2 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 1 | |
Level 2 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | 0 | |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 59 | 93 |
Level 3 | EGTS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Assets, fair value | 0 | $ 0 |
Level 3 | EGTS | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | |
Level 3 | EGTS | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market mutual funds | $ 0 |
Fair Value Measurements - EGT_2
Fair Value Measurements - EGTS - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Carrying Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,582 | $ 1,581 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 46,906 | 57,189 |
Level 2 | Fair Value | EGTS | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,337 | $ 1,812 |
Commitments and Contingencies -
Commitments and Contingencies - BHE - Commitments Table (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Contractual Obligation [Line Items] | |||
2023 | $ 6,414 | ||
2024 | 3,403 | ||
2025 | 1,907 | ||
2026 | 1,949 | ||
2027 | 1,587 | ||
Thereafter | 16,383 | ||
Purchase obligation | 31,643 | ||
MidAmerican Funding | |||
Contractual Obligation [Line Items] | |||
Coal transportation costs, railroad | 100 | $ 76 | $ 90 |
Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 3,431 | ||
2024 | 1,879 | ||
2025 | 1,381 | ||
2026 | 1,286 | ||
2027 | 1,234 | ||
Thereafter | 11,862 | ||
Purchase obligation | 21,073 | ||
Construction commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 2,434 | ||
2024 | 1,088 | ||
2025 | 144 | ||
2026 | 294 | ||
2027 | 10 | ||
Thereafter | 0 | ||
Purchase obligation | 3,970 | ||
Easements | |||
Contractual Obligation [Line Items] | |||
2023 | 88 | ||
2024 | 86 | ||
2025 | 85 | ||
2026 | 86 | ||
2027 | 87 | ||
Thereafter | 3,049 | ||
Purchase obligation | 3,481 | ||
Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2023 | 461 | ||
2024 | 350 | ||
2025 | 297 | ||
2026 | 283 | ||
2027 | 256 | ||
Thereafter | 1,472 | ||
Purchase obligation | $ 3,119 |
Commitments and Contingencies_2
Commitments and Contingencies - BHE - Narrative (Details) naturalGasProducer in Thousands, a in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 USD ($) a naturalGasProducer | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Loss Contingencies [Line Items] | ||||
Capital expenditures required by hydroelectric licenses, period | 10 years | |||
MidAmerican Funding | ||||
Loss Contingencies [Line Items] | ||||
Coal transportation costs, railroad | $ 100 | $ 76 | $ 90 | |
PAC | ||||
Loss Contingencies [Line Items] | ||||
Capital expenditures required by hydroelectric licenses | 282 | |||
PAC | Klamath Hydroelectric System | ||||
Loss Contingencies [Line Items] | ||||
Dam removal cost limit | 200 | |||
Additional dam removal costs, California bond measure | 250 | |||
Additional contingency funding | 45 | |||
Hydroelectric dam removal cost funding | 450 | |||
PAC | 2020 Wildfires | ||||
Loss Contingencies [Line Items] | ||||
Number of acres burned | a | 0.5 | |||
Number of structures destroyed | naturalGasProducer | 2 | |||
Fire suppression costs | $ 150 | |||
Estimate of possible loss | 477 | |||
Estimated insurance recoveries | 246 | 116 | ||
Loss recognized in period | 64 | $ 0 | $ 136 | |
PAC | 2022 McKinney Fire | ||||
Loss Contingencies [Line Items] | ||||
Estimate of possible loss | 31 | |||
Estimated insurance recoveries | $ 103 |
Commitments and Contingencies_3
Commitments and Contingencies - BHE - Contingency Accrual (Details) - 2020 Wildfires - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Loss Contingency Accrual [Roll Forward] | |||
Beginning balance | $ 252 | $ 252 | $ 0 |
Accrued losses | 225 | 0 | 252 |
Payments | (53) | 0 | 0 |
Ending balance | $ 424 | $ 252 | $ 252 |
Commitments and Contingencies_4
Commitments and Contingencies - PAC - Commitments (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Contractual Obligation [Line Items] | |
2023 | $ 6,414 |
2024 | 3,403 |
2025 | 1,907 |
2026 | 1,949 |
2027 | 1,587 |
Thereafter | 16,383 |
Purchase obligation | 31,643 |
Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 2,434 |
2024 | 1,088 |
2025 | 144 |
2026 | 294 |
2027 | 10 |
Thereafter | 0 |
Purchase obligation | 3,970 |
Easements | |
Contractual Obligation [Line Items] | |
2023 | 88 |
2024 | 86 |
2025 | 85 |
2026 | 86 |
2027 | 87 |
Thereafter | 3,049 |
Purchase obligation | 3,481 |
Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 461 |
2024 | 350 |
2025 | 297 |
2026 | 283 |
2027 | 256 |
Thereafter | 1,472 |
Purchase obligation | 3,119 |
PAC | |
Contractual Obligation [Line Items] | |
2023 | 2,096 |
2024 | 1,023 |
2025 | 516 |
2026 | 495 |
2027 | 491 |
Thereafter | 4,106 |
Purchase obligation | 8,727 |
PAC | Purchased electricity contracts - commercially operable | |
Contractual Obligation [Line Items] | |
2023 | 547 |
2024 | 241 |
2025 | 199 |
2026 | 197 |
2027 | 197 |
Thereafter | 2,162 |
Purchase obligation | 3,543 |
PAC | Purchased electricity contracts - not commercially operable | |
Contractual Obligation [Line Items] | |
2023 | 0 |
2024 | 0 |
2025 | 6 |
2026 | 12 |
2027 | 12 |
Thereafter | 208 |
Purchase obligation | 238 |
PAC | Fuel contracts | |
Contractual Obligation [Line Items] | |
2023 | 784 |
2024 | 398 |
2025 | 148 |
2026 | 146 |
2027 | 153 |
Thereafter | 401 |
Purchase obligation | 2,030 |
PAC | Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 535 |
2024 | 210 |
2025 | 14 |
2026 | 1 |
2027 | 0 |
Thereafter | 0 |
Purchase obligation | 760 |
PAC | Transmission | |
Contractual Obligation [Line Items] | |
2023 | 108 |
2024 | 100 |
2025 | 74 |
2026 | 65 |
2027 | 55 |
Thereafter | 418 |
Purchase obligation | 820 |
PAC | Easements | |
Contractual Obligation [Line Items] | |
2023 | 21 |
2024 | 20 |
2025 | 20 |
2026 | 21 |
2027 | 21 |
Thereafter | 720 |
Purchase obligation | 823 |
PAC | Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 101 |
2024 | 54 |
2025 | 55 |
2026 | 53 |
2027 | 53 |
Thereafter | 197 |
Purchase obligation | $ 513 |
Commitments and Contingencies_5
Commitments and Contingencies - PAC - Narrative (Details) naturalGasProducer in Thousands, a in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 USD ($) a naturalGasProducer | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Hydroelectric [Line Items] | ||||
Capital expenditures required by hydroelectric licenses, period | 10 years | |||
PAC | ||||
Hydroelectric [Line Items] | ||||
Maximum percentage of energy sources for which a share of operating costs and debt service is required | 5% | 5% | 5% | |
Capital expenditures required by hydroelectric licenses | $ 282 | |||
PAC | Minimum | Purchased electricity contracts - commercially operable | ||||
Hydroelectric [Line Items] | ||||
Purchase commitment period | 7 years | |||
PAC | Minimum | Purchased electricity contracts - not commercially operable | ||||
Hydroelectric [Line Items] | ||||
Purchase commitment period | 7 years | |||
PAC | Maximum | Purchased electricity contracts - commercially operable | ||||
Hydroelectric [Line Items] | ||||
Purchase commitment period | 30 years | |||
PAC | Maximum | Purchased electricity contracts - not commercially operable | ||||
Hydroelectric [Line Items] | ||||
Purchase commitment period | 30 years | |||
2020 Wildfires | PAC | ||||
Hydroelectric [Line Items] | ||||
Number of acres burned | a | 0.5 | |||
Number of structures destroyed | naturalGasProducer | 2 | |||
Fire suppression costs | $ 150 | |||
Estimate of possible loss | $ 477 | |||
Estimated insurance recoveries | 246 | $ 116 | ||
Loss recognized in period | 64 | $ 0 | $ 136 | |
2022 McKinney Fire | PAC | ||||
Hydroelectric [Line Items] | ||||
Estimate of possible loss | 31 | |||
Estimated insurance recoveries | 103 | |||
Klamath Hydroelectric System | PAC | ||||
Hydroelectric [Line Items] | ||||
Dam removal cost limit | 200 | |||
Additional dam removal costs, California bond measure | 250 | |||
Additional contingency funding | 45 | |||
Hydroelectric dam removal cost funding | $ 450 |
Commitments and Contingencies_6
Commitments and Contingencies - PAC - Contingency Accrual (Details) - 2020 Wildfires - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Loss Contingency Accrual [Roll Forward] | |||
Beginning balance | $ 252 | $ 252 | $ 0 |
Accrued losses | 225 | 0 | 252 |
Payments | (53) | 0 | 0 |
Ending balance | $ 424 | $ 252 | $ 252 |
Commitments and Contingencies_7
Commitments and Contingencies - MEC - Commitments Table (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Contractual Obligation [Line Items] | |
2023 | $ 6,414 |
2024 | 3,403 |
2025 | 1,907 |
2026 | 1,949 |
2027 | 1,587 |
Thereafter | 16,383 |
Purchase obligation | 31,643 |
Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 2,434 |
2024 | 1,088 |
2025 | 144 |
2026 | 294 |
2027 | 10 |
Thereafter | 0 |
Purchase obligation | 3,970 |
Easements | |
Contractual Obligation [Line Items] | |
2023 | 88 |
2024 | 86 |
2025 | 85 |
2026 | 86 |
2027 | 87 |
Thereafter | 3,049 |
Purchase obligation | 3,481 |
Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 461 |
2024 | 350 |
2025 | 297 |
2026 | 283 |
2027 | 256 |
Thereafter | 1,472 |
Purchase obligation | 3,119 |
MEC | |
Contractual Obligation [Line Items] | |
2023 | 1,250 |
2024 | 423 |
2025 | 329 |
2026 | 272 |
2027 | 238 |
Thereafter | 1,739 |
Purchase obligation | 4,251 |
MEC | Fuel contracts | |
Contractual Obligation [Line Items] | |
2023 | 139 |
2024 | 81 |
2025 | 60 |
2026 | 29 |
2027 | 30 |
Thereafter | 0 |
Purchase obligation | 339 |
MEC | Electric capacity and transmission | |
Contractual Obligation [Line Items] | |
2023 | 33 |
2024 | 32 |
2025 | 33 |
2026 | 33 |
2027 | 17 |
Thereafter | 7 |
Purchase obligation | 155 |
MEC | Natural gas contracts for gas operations | |
Contractual Obligation [Line Items] | |
2023 | 172 |
2024 | 78 |
2025 | 70 |
2026 | 60 |
2027 | 47 |
Thereafter | 33 |
Purchase obligation | 460 |
MEC | Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 699 |
2024 | 60 |
2025 | 24 |
2026 | 4 |
2027 | 0 |
Thereafter | 0 |
Purchase obligation | 787 |
MEC | Easements | |
Contractual Obligation [Line Items] | |
2023 | 42 |
2024 | 43 |
2025 | 44 |
2026 | 44 |
2027 | 45 |
Thereafter | 1,536 |
Purchase obligation | 1,754 |
MEC | Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 165 |
2024 | 129 |
2025 | 98 |
2026 | 102 |
2027 | 99 |
Thereafter | 163 |
Purchase obligation | $ 756 |
Commitments and Contingencies_8
Commitments and Contingencies - NPC - Commitments Table (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Contractual Obligation [Line Items] | |
2023 | $ 6,414 |
2024 | 3,403 |
2025 | 1,907 |
2026 | 1,949 |
2027 | 1,587 |
Thereafter | 16,383 |
Purchase obligation | 31,643 |
Fuel, capacity and transmission contract commitments | |
Contractual Obligation [Line Items] | |
2023 | 3,431 |
2024 | 1,879 |
2025 | 1,381 |
2026 | 1,286 |
2027 | 1,234 |
Thereafter | 11,862 |
Purchase obligation | 21,073 |
Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 2,434 |
2024 | 1,088 |
2025 | 144 |
2026 | 294 |
2027 | 10 |
Thereafter | 0 |
Purchase obligation | 3,970 |
Easements | |
Contractual Obligation [Line Items] | |
2023 | 88 |
2024 | 86 |
2025 | 85 |
2026 | 86 |
2027 | 87 |
Thereafter | 3,049 |
Purchase obligation | 3,481 |
Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 461 |
2024 | 350 |
2025 | 297 |
2026 | 283 |
2027 | 256 |
Thereafter | 1,472 |
Purchase obligation | 3,119 |
NPC | |
Contractual Obligation [Line Items] | |
2023 | 1,769 |
2024 | 770 |
2025 | 614 |
2026 | 613 |
2027 | 583 |
Thereafter | 7,107 |
Purchase obligation | 11,456 |
NPC | Fuel, capacity and transmission contract commitments | |
Contractual Obligation [Line Items] | |
2023 | 1,149 |
2024 | 485 |
2025 | 357 |
2026 | 360 |
2027 | 349 |
Thereafter | 2,871 |
Purchase obligation | 5,571 |
NPC | Fuel and capacity contract commitments (not commercially operable) | |
Contractual Obligation [Line Items] | |
2023 | 60 |
2024 | 181 |
2025 | 211 |
2026 | 211 |
2027 | 211 |
Thereafter | 4,148 |
Purchase obligation | 5,022 |
NPC | Construction commitments | |
Contractual Obligation [Line Items] | |
2023 | 525 |
2024 | 77 |
2025 | 20 |
2026 | 21 |
2027 | 10 |
Thereafter | 0 |
Purchase obligation | 653 |
NPC | Easements | |
Contractual Obligation [Line Items] | |
2023 | 5 |
2024 | 3 |
2025 | 2 |
2026 | 2 |
2027 | 2 |
Thereafter | 50 |
Purchase obligation | 64 |
NPC | Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2023 | 30 |
2024 | 24 |
2025 | 24 |
2026 | 19 |
2027 | 11 |
Thereafter | 38 |
Purchase obligation | $ 146 |
Commitments and Contingencies_9
Commitments and Contingencies - NPC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
NPC | |||
Loss Contingencies [Line Items] | |||
Easement expense | $ 4 | $ 4 | $ 4 |
Commitments and Contingencie_10
Commitments and Contingencies - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Contractual Obligation [Line Items] | |||
2023 | $ 6,414 | ||
2024 | 3,403 | ||
2025 | 1,907 | ||
2026 | 1,949 | ||
2027 | 1,587 | ||
Thereafter | 16,383 | ||
Purchase obligation | 31,643 | ||
Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 3,431 | ||
2024 | 1,879 | ||
2025 | 1,381 | ||
2026 | 1,286 | ||
2027 | 1,234 | ||
Thereafter | 11,862 | ||
Purchase obligation | 21,073 | ||
Construction commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 2,434 | ||
2024 | 1,088 | ||
2025 | 144 | ||
2026 | 294 | ||
2027 | 10 | ||
Thereafter | 0 | ||
Purchase obligation | 3,970 | ||
Easements | |||
Contractual Obligation [Line Items] | |||
2023 | 88 | ||
2024 | 86 | ||
2025 | 85 | ||
2026 | 86 | ||
2027 | 87 | ||
Thereafter | 3,049 | ||
Purchase obligation | 3,481 | ||
Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2023 | 461 | ||
2024 | 350 | ||
2025 | 297 | ||
2026 | 283 | ||
2027 | 256 | ||
Thereafter | 1,472 | ||
Purchase obligation | 3,119 | ||
SPPC | |||
Contractual Obligation [Line Items] | |||
2023 | 930 | ||
2024 | 1,003 | ||
2025 | 289 | ||
2026 | 419 | ||
2027 | 140 | ||
Thereafter | 1,721 | ||
Purchase obligation | 4,502 | ||
Easement expense | 2 | $ 2 | $ 2 |
SPPC | Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 413 | ||
2024 | 244 | ||
2025 | 184 | ||
2026 | 134 | ||
2027 | 127 | ||
Thereafter | 1,447 | ||
Purchase obligation | 2,549 | ||
SPPC | Fuel and capacity contract commitments (not commercially operable) | |||
Contractual Obligation [Line Items] | |||
2023 | 8 | ||
2024 | 11 | ||
2025 | 12 | ||
2026 | 12 | ||
2027 | 11 | ||
Thereafter | 236 | ||
Purchase obligation | 290 | ||
SPPC | Construction commitments | |||
Contractual Obligation [Line Items] | |||
2023 | 500 | ||
2024 | 741 | ||
2025 | 86 | ||
2026 | 268 | ||
2027 | 0 | ||
Thereafter | 0 | ||
Purchase obligation | 1,595 | ||
SPPC | Easements | |||
Contractual Obligation [Line Items] | |||
2023 | 2 | ||
2024 | 2 | ||
2025 | 2 | ||
2026 | 2 | ||
2027 | 2 | ||
Thereafter | 33 | ||
Purchase obligation | 43 | ||
SPPC | Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2023 | 7 | ||
2024 | 5 | ||
2025 | 5 | ||
2026 | 3 | ||
2027 | 0 | ||
Thereafter | 5 | ||
Purchase obligation | $ 25 |
Commitments and Contingencie_11
Commitments and Contingencies - EEGH (Details) $ in Millions | Dec. 31, 2022 USD ($) |
EEGH | Surety bond | |
Loss Contingencies [Line Items] | |
Guarantor obligation | $ 19 |
Commitments and Contingencie_12
Commitments and Contingencies - EGTS (Details) $ in Millions | Dec. 31, 2022 USD ($) |
EGTS | Surety bond | |
Loss Contingencies [Line Items] | |
Guarantor obligation | $ 16 |
Revenue from Contract with Cu_2
Revenue from Contract with Customer - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 20,363 | 18,308 | 15,081 |
Other revenue | 706 | 627 | 475 |
Total operating revenue | 21,069 | 18,935 | 15,556 |
Energy | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,627 | 5,255 | 5,243 |
Other revenue | 52 | 41 | 98 |
Total operating revenue | 5,679 | 5,296 | 5,341 |
Energy | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,911 | 3,514 | 2,704 |
Other revenue | 114 | 33 | 24 |
Total operating revenue | 4,025 | 3,547 | 2,728 |
Energy | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,802 | 3,083 | 2,824 |
Other revenue | 22 | 24 | 30 |
Total operating revenue | 3,824 | 3,107 | 2,854 |
Energy | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,250 | 1,066 | 913 |
Other revenue | 115 | 122 | 109 |
Total operating revenue | 1,365 | 1,188 | 1,022 |
Energy | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,690 | 3,416 | 1,548 |
Other revenue | 154 | 128 | 30 |
Total operating revenue | 3,844 | 3,544 | 1,578 |
Energy | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 753 | 737 | 659 |
Other revenue | (21) | (6) | 0 |
Total operating revenue | 732 | 731 | 659 |
Energy | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 866 | 796 | 817 |
Other revenue | 128 | 185 | 119 |
Total operating revenue | 994 | 981 | 936 |
Energy | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 464 | 441 | 373 |
Other revenue | 142 | 100 | 65 |
Total operating revenue | 606 | 541 | 438 |
Energy | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 17,578 | 15,884 | 13,553 |
Energy | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,627 | 5,255 | 5,243 |
Energy | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,904 | 3,499 | 2,688 |
Energy | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,802 | 3,080 | 2,822 |
Energy | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,081 | 1,023 | 887 |
Energy | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,614 | 2,460 | 1,414 |
Energy | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 683 | 702 | 641 |
Energy | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Energy | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | (133) | (135) | (142) |
Energy | Nonregulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,785 | 2,424 | 1,528 |
Energy | Nonregulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Energy | Nonregulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 7 | 15 | 16 |
Energy | Nonregulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 3 | 2 |
Energy | Nonregulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 169 | 43 | 26 |
Energy | Nonregulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,076 | 956 | 134 |
Energy | Nonregulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 70 | 35 | 18 |
Energy | Nonregulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 866 | 796 | 817 |
Energy | Nonregulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 597 | 576 | 515 |
Retail Electric | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 10,884 | 9,801 | 9,421 |
Retail Electric | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,099 | 4,847 | 4,932 |
Retail Electric | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,320 | 2,128 | 1,924 |
Retail Electric | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,465 | 2,828 | 2,566 |
Retail Electric | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Electric | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Electric | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Electric | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Electric | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | (2) | (1) |
Retail Gas | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,022 | 974 | 619 |
Retail Gas | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Gas | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 855 | 859 | 505 |
Retail Gas | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 167 | 115 | 114 |
Retail Gas | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Gas | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Gas | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Gas | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Retail Gas | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Wholesale | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,024 | 727 | 366 |
Wholesale | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 260 | 157 | 107 |
Wholesale | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 668 | 454 | 199 |
Wholesale | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 92 | 62 | 45 |
Wholesale | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Wholesale | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 8 | 57 | 17 |
Wholesale | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Wholesale | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Wholesale | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | (4) | (3) | (2) |
Transmission and distribution | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,067 | 2,000 | 1,779 |
Transmission and distribution | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 166 | 143 | 96 |
Transmission and distribution | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 61 | 58 | 60 |
Transmission and distribution | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 76 | 74 | 95 |
Transmission and distribution | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,081 | 1,023 | 887 |
Transmission and distribution | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Transmission and distribution | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 683 | 702 | 641 |
Transmission and distribution | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Transmission and distribution | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,476 | 2,273 | 1,258 |
Interstate pipeline | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,603 | 2,404 | 1,397 |
Interstate pipeline | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Interstate pipeline | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | (127) | (131) | (139) |
Other | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 105 | 109 | 110 |
Other | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 102 | 108 | 108 |
Other | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Other | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2 | 1 | 2 |
Other | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Other | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3 | (1) | 0 |
Other | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Other | Regulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
Other | Regulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ (2) | $ 1 | $ 0 |
Revenue from Contract with Cu_3
Revenue from Contract with Customer - Real Estate Services (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Real estate | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | 5,268 | 6,215 | 5,396 |
HomeServices | Real estate | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 4,933 | 5,583 | 4,596 |
Other revenue | 335 | 632 | 800 |
Total operating revenue | 5,268 | 6,215 | 5,396 |
HomeServices | Brokerage | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 4,867 | 5,498 | 4,520 |
HomeServices | Franchise | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 66 | $ 85 | $ 76 |
Revenue from Contract with Cu_4
Revenue from Contract with Customer - Remaining Performance Obligation (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 24,133 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,514 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,619 |
Remaining performance obligation, expected timing of satisfaction, period | |
BHE Pipeline Group | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,454 |
BHE Pipeline Group | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 2,835 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
BHE Pipeline Group | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,619 |
Remaining performance obligation, expected timing of satisfaction, period | |
BHE Transmission | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 679 |
BHE Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 679 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
BHE Transmission | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 0 |
Remaining performance obligation, expected timing of satisfaction, period |
Revenue from Contract with Cu_5
Revenue from Contract with Customer - PAC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from External Customer [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
PAC | |||
Revenue from External Customer [Line Items] | |||
Other revenue | 52 | 41 | 98 |
Total operating revenue | 5,679 | 5,296 | 5,341 |
Regulated assets | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 10,884 | 9,801 | 9,421 |
Regulated assets | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,024 | 727 | 366 |
Regulated assets | Transmission and distribution | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 2,067 | 2,000 | 1,779 |
Regulated assets | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 105 | 109 | 110 |
Regulated assets | PAC | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 5,627 | 5,255 | 5,243 |
Regulated assets | PAC | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 5,099 | 4,847 | 4,932 |
Regulated assets | PAC | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 260 | 157 | 107 |
Regulated assets | PAC | Transmission and distribution | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 166 | 143 | 96 |
Regulated assets | PAC | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 102 | 108 | 108 |
Regulated assets | PAC | Residential | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 2,013 | 1,914 | 1,910 |
Regulated assets | PAC | Commercial | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,645 | 1,559 | 1,578 |
Regulated assets | PAC | Industrial | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,163 | 1,125 | 1,185 |
Regulated assets | PAC | Other retail | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | $ 278 | $ 249 | $ 259 |
Revenue from Contract with Cu_6
Revenue from Contract with Customer - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,911 | 3,514 | 2,696 |
Other revenue | 114 | 33 | 24 |
Total operating revenue | 4,025 | 3,547 | 2,720 |
MEC | Retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,175 | 2,987 | 2,429 |
MEC | Retail | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,320 | 1,282 | 1,027 |
MEC | Retail | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 570 | 550 | 415 |
MEC | Retail | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,085 | 964 | 818 |
MEC | Retail | Natural gas transportation services | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 44 | 39 | 36 |
MEC | Retail | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 156 | 152 | 133 |
MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 668 | 454 | 199 |
MEC | Multi-value transmission projects | Multi-value transmission projects | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 61 | 58 | 60 |
MEC | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 7 | 15 | 8 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 10,884 | 9,801 | 9,421 |
Regulated assets | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,022 | 974 | 619 |
Regulated assets | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,024 | 727 | 366 |
Regulated assets | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 105 | 109 | 110 |
Regulated electric | Regulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,876 | 2,498 | 2,117 |
Other revenue | 112 | 31 | 22 |
Total operating revenue | 2,988 | 2,529 | 2,139 |
Regulated electric | Regulated assets | MEC | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,320 | 2,128 | 1,924 |
Regulated electric | Regulated assets | MEC | Retail Electric | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 765 | 718 | 685 |
Regulated electric | Regulated assets | MEC | Retail Electric | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 354 | 327 | 304 |
Regulated electric | Regulated assets | MEC | Retail Electric | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,047 | 934 | 804 |
Regulated electric | Regulated assets | MEC | Retail Electric | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 154 | 149 | 131 |
Regulated electric | Regulated assets | MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 495 | 312 | 133 |
Regulated electric | Regulated assets | MEC | Multi-value transmission projects | Multi-value transmission projects | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 61 | 58 | 60 |
Regulated natural gas | Regulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,028 | 1,001 | 571 |
Other revenue | 2 | 2 | 2 |
Total operating revenue | 1,030 | 1,003 | 573 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 855 | 859 | 505 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 555 | 564 | 342 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 216 | 223 | 111 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 38 | 30 | 14 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Natural gas transportation services | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 44 | 39 | 36 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2 | 3 | 2 |
Regulated natural gas | Regulated assets | MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 173 | 142 | 66 |
Other | Nonregulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 7 | 15 | 8 |
Other revenue | 0 | 0 | 0 |
Total operating revenue | 7 | 15 | 8 |
Other | Nonregulated assets | MEC | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 7 | $ 15 | $ 8 |
Revenue from Contract with Cu_7
Revenue from Contract with Customer - LLC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Nonregulated assets | Other | MidAmerican Funding, LLC | Nonregulated | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 0 | $ 0 | $ 8 |
Revenue from Contract with Cu_8
Revenue from Contract with Customer - NPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 10,884 | 9,801 | 9,421 |
NPC | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 21 | 22 | 26 |
Total operating revenue | 2,630 | 2,139 | 1,998 |
NPC | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,609 | 2,117 | 1,972 |
NPC | Regulated assets | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 82 | 74 | 62 |
NPC | Regulated assets | Fully bundled | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,507 | 2,021 | 1,886 |
NPC | Regulated assets | Fully bundled | Residential | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,440 | 1,207 | 1,145 |
NPC | Regulated assets | Fully bundled | Commercial | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 525 | 414 | 384 |
NPC | Regulated assets | Fully bundled | Industrial | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 528 | 386 | 345 |
NPC | Regulated assets | Fully bundled | Other retail | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 14 | 14 | 12 |
NPC | Regulated assets | Distribution-only service | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 20 | 22 | 24 |
NPC | Regulated assets | Fully bundled and distribution services only customer | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 2,527 | $ 2,043 | $ 1,910 |
Revenue from Contract with Cu_9
Revenue from Contract with Customer - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 10,884 | 9,801 | 9,421 |
Regulated assets | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,022 | 974 | 619 |
SPPC | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 2 | 4 | 5 |
Total operating revenue | 1,193 | 965 | 854 |
SPPC | Regulated electric | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 1 | 2 | 3 |
Total operating revenue | 1,025 | 848 | 738 |
SPPC | Regulated natural gas | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 1 | 2 | 2 |
Total operating revenue | 168 | 117 | 116 |
SPPC | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,191 | 961 | 849 |
SPPC | Regulated assets | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 86 | 62 | 50 |
SPPC | Regulated assets | Regulated electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,024 | 846 | 735 |
SPPC | Regulated assets | Regulated electric | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 86 | 62 | 50 |
SPPC | Regulated assets | Regulated natural gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 167 | 115 | 114 |
SPPC | Regulated assets | Regulated natural gas | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 0 |
SPPC | Regulated assets | Fully bundled and distribution services only customer | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,105 | 899 | 799 |
SPPC | Regulated assets | Fully bundled and distribution services only customer | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 938 | 784 | 685 |
SPPC | Regulated assets | Fully bundled and distribution services only customer | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 167 | 115 | 114 |
SPPC | Regulated assets | Fully bundled | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,100 | 896 | 795 |
SPPC | Regulated assets | Fully bundled | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 933 | 781 | 681 |
SPPC | Regulated assets | Fully bundled | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 167 | 115 | 114 |
SPPC | Regulated assets | Fully bundled | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 470 | 383 | 349 |
SPPC | Regulated assets | Fully bundled | Residential | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 365 | 307 | 273 |
SPPC | Regulated assets | Fully bundled | Residential | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 105 | 76 | 76 |
SPPC | Regulated assets | Fully bundled | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 378 | 296 | 262 |
SPPC | Regulated assets | Fully bundled | Commercial | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 333 | 267 | 233 |
SPPC | Regulated assets | Fully bundled | Commercial | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 45 | 29 | 29 |
SPPC | Regulated assets | Fully bundled | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 245 | 212 | 179 |
SPPC | Regulated assets | Fully bundled | Industrial | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 229 | 202 | 170 |
SPPC | Regulated assets | Fully bundled | Industrial | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 16 | 10 | 9 |
SPPC | Regulated assets | Fully bundled | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 7 | 5 | 5 |
SPPC | Regulated assets | Fully bundled | Other retail | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 6 | 5 | 5 |
SPPC | Regulated assets | Fully bundled | Other retail | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1 | 0 | 0 |
SPPC | Regulated assets | Distribution-only service | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5 | 3 | 4 |
SPPC | Regulated assets | Distribution-only service | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5 | 3 | 4 |
SPPC | Regulated assets | Distribution-only service | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 0 | $ 0 | $ 0 |
Revenue from Contract with C_10
Revenue from Contract with Customer - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from External Customer [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 2,009 | 1,866 | 2,087 |
Other revenue | (3) | 4 | 3 |
Total operating revenue | 2,006 | 1,870 | 2,090 |
Regulated assets | Retail Gas | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,022 | 974 | 619 |
Regulated assets | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,024 | 727 | 366 |
Regulated assets | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 105 | 109 | 110 |
Regulated assets | EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,188 | 1,099 | 1,289 |
Regulated assets | EEGH | Retail Gas | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,179 | 1,044 | 1,242 |
Regulated assets | EEGH | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 8 | 57 | 43 |
Regulated assets | EEGH | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1 | (2) | 4 |
Nonregulated assets | EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | $ 821 | $ 767 | $ 798 |
Revenue from Contract with C_11
Revenue from Contract with Customer - EEGH - Remaining Performance Obligation (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 24,133 |
EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 17,292 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,514 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 1,694 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,619 |
Remaining performance obligation, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | EEGH | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 15,598 |
Remaining performance obligation, expected timing of satisfaction, period |
Revenue from Contracts with C_2
Revenue from Contracts with Customers - EGTS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from External Customer [Line Items] | |||
Total operating revenue | $ 26,337 | $ 25,150 | $ 20,952 |
EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 979 | 892 | 915 |
Other revenue | (6) | (1) | 1 |
Total operating revenue | 973 | 891 | 916 |
Regulated assets | EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 900 | 819 | 815 |
Nonregulated assets | EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 79 | 73 | 100 |
Gas transportation | Regulated assets | EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 644 | 574 | 583 |
Gas storage | Regulated assets | EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 248 | 188 | 191 |
Wholesale | Regulated assets | EGTS | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | $ 8 | $ 57 | $ 41 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - EGTS - Remaining Performance Obligation (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 24,133 |
EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | 4,197 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,514 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 766 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 20,619 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | EGTS | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 3,431 |
Performance obligations expected to be satisfied, expected timing of satisfaction, period |
BHE Shareholders' Equity (Detai
BHE Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Class of Stock [Line Items] | |||
Preferred stock, shares outstanding | 1,000,000 | 2,000,000 | |
Common stock repurchased (shares) | 740,961 | ||
Common stock repurchased | $ 870 | ||
BHE restricted net assets | $ 18,800 | ||
BHE's subsidiaries restricted net assets | $ 20,400 | ||
Natural Gas Transmission and Storage | Redeemable preferred stock | |||
Class of Stock [Line Items] | |||
Preferred stock, shares outstanding | 849,982 | 1,649,988 | |
Preferred stock, dividend rate | 4% | ||
Liquidation preference (in dollars per share) | $ 1,000 |
Preferred Stock - PAC (Details)
Preferred Stock - PAC (Details) | 12 Months Ended | |
Dec. 31, 2022 payment $ / shares shares | Dec. 31, 2021 $ / shares shares | |
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 1,000,000 | 2,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 2,000,000 |
PAC | ||
Class of Stock [Line Items] | ||
Number of full quarterly dividend payments | payment | 4 | |
Preferred Stock Class, Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 3,500,000 | 3,500,000 |
Preferred stock, par value (in dollars per share) | $ / shares | $ 100 | $ 100 |
Preferred stock, shares issued | 24,000 | 24,000 |
Preferred stock, shares outstanding | 24,000 | 24,000 |
Preferred Stock Class, No Par Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 16,000,000 | 16,000,000 |
Preferred Stock Class, 5 Percent Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 127,000 | 127,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, dividend rate | 5% | 5% |
Minimum | Preferred Stock Class, Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, dividend rate | 6% | |
Maximum | Preferred Stock Class, Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, dividend rate | 7% |
Common Shareholder's Equity - P
Common Shareholder's Equity - PAC (Details) - PAC - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Jan. 31, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||
Minimum common equity to capitalization percentage | 44% | |
Actual common equity percentage as calculated in accordance with acquisition commitment | 54% | |
Amount available for dividend distribution without prior approval | $ 3,500 | |
Subsequent event | ||
Class of Stock [Line Items] | ||
Dividends declared | $ 300 |
Common Shareholder's Equity - M
Common Shareholder's Equity - MEC (Details) - MEC - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Class of Stock [Line Items] | ||||
Dividends paid | $ 275 | $ 0 | $ 0 | |
Subsequent event | ||||
Class of Stock [Line Items] | ||||
Dividends paid | $ 100 |
Member's Equity - MidAmerican F
Member's Equity - MidAmerican Funding (Details) - MidAmerican Funding, LLC - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended |
Jan. 31, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||
Distribution paid to parent | $ 69 | |
Subsequent event | ||
Class of Stock [Line Items] | ||
Distribution paid to parent | $ 100 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | $ 50,589 | $ 46,977 | $ 32,578 |
Other comprehensive income (loss) | (806) | 217 | 154 |
BHE GT&S acquisition - noncontrolling interest | 3,916 | ||
Ending balance | 50,639 | 50,589 | 46,977 |
Accumulated Other Comprehensive Income (Loss) | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (1,340) | (1,552) | (1,706) |
Other comprehensive income (loss) | (809) | 212 | 154 |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | (2,149) | (1,340) | (1,552) |
Unrecognized Amounts on Retirement Benefits | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (318) | (492) | (417) |
Other comprehensive income (loss) | (72) | 174 | (65) |
BHE GT&S acquisition - noncontrolling interest | (10) | ||
Ending balance | (390) | (318) | (492) |
Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (1,086) | (1,062) | (1,296) |
Other comprehensive income (loss) | (810) | (24) | 234 |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | (1,896) | (1,086) | (1,062) |
Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | 59 | (8) | 7 |
Other comprehensive income (loss) | 76 | 67 | (15) |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | 135 | 59 | (8) |
Noncontrolling Interest | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (5) | (10) | 0 |
BHE GT&S acquisition - noncontrolling interest | 10 | ||
Ending balance | (2) | (5) | (10) |
Noncontrolling Interest | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | 3,895 | 3,967 | 129 |
Other comprehensive income (loss) | 3 | 5 | 0 |
BHE GT&S acquisition - noncontrolling interest | 3,916 | ||
Ending balance | $ 3,807 | $ 3,895 | $ 3,967 |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss, Net - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
PAC | ||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||
Accumulated other comprehensive loss, retirement benefits, net of tax | $ 9 | $ 17 |
Components of Accumulated Oth_5
Components of Accumulated Other Comprehensive Loss, Net - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | $ 50,589 | $ 46,977 | $ 32,578 |
Other comprehensive income (loss) | (806) | 217 | 154 |
Ending balance | 50,639 | 50,589 | 46,977 |
Accumulated Other Comprehensive Income (Loss) | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (1,340) | (1,552) | (1,706) |
Other comprehensive income (loss) | (809) | 212 | 154 |
Ending balance | (2,149) | (1,340) | (1,552) |
Unrecognized Amounts on Retirement Benefits | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (318) | (492) | (417) |
Other comprehensive income (loss) | (72) | 174 | (65) |
Ending balance | (390) | (318) | (492) |
Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 59 | (8) | 7 |
Other comprehensive income (loss) | 76 | 67 | (15) |
Ending balance | 135 | 59 | (8) |
Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (5) | (10) | 0 |
Ending balance | (2) | (5) | (10) |
Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 3,895 | 3,967 | 129 |
Other comprehensive income (loss) | 3 | 5 | 0 |
Ending balance | 3,807 | 3,895 | 3,967 |
EEGH | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 7,494 | 6,995 | 10,229 |
Other comprehensive income (loss) | 4 | 15 | 124 |
Ending balance | 7,888 | 7,494 | 6,995 |
EEGH | Accumulated Other Comprehensive Income (Loss) | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (43) | (53) | (187) |
Other comprehensive income (loss) | 1 | 10 | 134 |
Ending balance | (42) | (43) | (53) |
EEGH | Unrecognized Amounts on Retirement Benefits | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (6) | (12) | (106) |
Other comprehensive income (loss) | 5 | 6 | 94 |
Ending balance | (1) | (6) | (12) |
EEGH | Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (42) | (51) | (81) |
Other comprehensive income (loss) | (1) | 9 | 30 |
Ending balance | (43) | (42) | (51) |
EEGH | Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (5) | (10) | 0 |
Other comprehensive income (loss) | (10) | ||
Ending balance | (2) | (5) | (10) |
EEGH | Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 4,036 | 4,091 | 1,385 |
Other comprehensive income (loss) | 3 | 5 | (10) |
Ending balance | $ 3,947 | $ 4,036 | $ 4,091 |
Components of Accumulated Oth_6
Components of Accumulated Other Comprehensive Loss, Net - EEGH - Reclassifications from AOCI (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Interest expense | $ 2,216 | $ 2,118 | $ 2,021 |
Other, net | (7) | (17) | 88 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income | 3,144 | 6,189 | 7,014 |
EEGH | |||
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Interest expense | 147 | 151 | 339 |
Other, net | (1) | 1 | 42 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 913 | 725 | 207 |
Income tax (benefit) expense | 167 | 117 | (24) |
Net income | 849 | 652 | 273 |
EEGH | Cash flow hedge | Reclassification out of Accumulated Other Comprehensive Income | |||
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Income (loss) before income tax expense (benefit) and equity income (loss) | 4 | 27 | 132 |
Income tax (benefit) expense | (1) | (7) | (34) |
Net income | 3 | 20 | 98 |
EEGH | Cash flow hedge | Interest rate contracts | Reclassification out of Accumulated Other Comprehensive Income | |||
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Interest expense | 3 | 6 | 157 |
EEGH | Cash flow hedge | Foreign currency exchange rate derivatives | Reclassification out of Accumulated Other Comprehensive Income | |||
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Other, net | $ 1 | $ 21 | (25) |
EEGH | Unrecognized Amounts on Retirement Benefits | Reclassification out of Accumulated Other Comprehensive Income | |||
Accumulated Other Comprehensive Loss, Net [Line Items] | |||
Other, net | 6 | ||
Income (loss) before income tax expense (benefit) and equity income (loss) | 6 | ||
Income tax (benefit) expense | (2) | ||
Net income | $ 4 |
Components of Accumulated Oth_7
Components of Accumulated Other Comprehensive Loss, Net - EEGH - Cash Flow Hedges (Details) - EEGH - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2020 | Jul. 31, 2020 | Dec. 31, 2022 | |
Derivative [Line Items] | |||
AOCI After-Tax | $ (43) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | (7) | ||
Amount of loss reclassified from AOCI to income | $ 141 | ||
Amount of loss reclassified from AOCI to income, after-tax | $ 105 | ||
Payment for settlement of hedge | $ 165 | ||
Interest rate contracts | |||
Derivative [Line Items] | |||
AOCI After-Tax | (37) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | $ (3) | ||
Maximum Term | 264 months | ||
Foreign currency exchange rate derivatives | |||
Derivative [Line Items] | |||
AOCI After-Tax | $ (6) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | $ (4) | ||
Maximum Term | 42 months |
Other Income (Expense) - MEC (D
Other Income (Expense) - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ (7) | $ (17) | $ 88 |
MEC | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 53 | 52 |
MEC | Non-service cost components of postretirement employee benefit plans | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 9 | 26 | 24 |
MEC | Corporate-owned life insurance (loss) income | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | (16) | 21 | 16 |
MEC | Gains on disposition of assets | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 0 | 6 |
MEC | Interest income and other, net | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ 7 | $ 6 | $ 6 |
Other Income (Expense) - MidAme
Other Income (Expense) - MidAmerican Funding (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ (7) | $ (17) | $ 88 |
MidAmerican Funding, LLC | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 54 | 52 |
MidAmerican Funding, LLC | Non-service cost components of postretirement employee benefit plans | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 9 | 26 | 24 |
MidAmerican Funding, LLC | Corporate-owned life insurance (loss) income | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | (16) | 21 | 16 |
MidAmerican Funding, LLC | Gains on disposition of assets | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 0 | 6 |
MidAmerican Funding, LLC | Interest income and other, net | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ 7 | $ 7 | $ 6 |
Variable Interest Entities an_2
Variable Interest Entities and Noncontrolling Interests (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Nov. 01, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
BHE | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | $ 58 | $ 58 | ||
Northern Electric Plc | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | 56 | $ 56 | ||
PAC | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Preferred stock of subsidiaries, value, outstanding noncontrolling interest, amount represented by preferred stock | $ 2 | |||
Cove Point LNG, LP | Dominion Energy, Inc. | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest | 50% | 50% | ||
Cove Point LNG, LP | Brookfield Super-Core Infrastructure Partners | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest | 25% | |||
Northern Electric Plc | Northern Electric Plc | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest | 8.061% | 8.061% | ||
Primary Beneficiary | Cove Point LNG, LP | Natural Gas Transmission and Storage | Other Ownership Interest | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Variable interest entity, ownership percentage | 25% | 25% | ||
Primary Beneficiary | Cove Point LNG, LP | Natural Gas Transmission and Storage | General Partner | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Variable interest entity, ownership percentage | 100% | 100% | ||
Primary Beneficiary | Cove Point LNG, LP | Natural Gas Transmission and Storage | Limited Partner | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Variable interest entity, ownership percentage | 25% | 25% |
Variable Interest Entities - PA
Variable Interest Entities - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Not Primary Beneficiary | ||
Schedule of Equity Method Investments [Line Items] | ||
Variable interest entity, ownership percentage | 66.67% | |
Net assets | $ 28 | $ 45 |
Jim Bridger Nos. 1-4 | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership share | 67% | |
Jim Bridger Nos. 1-4 | Not Primary Beneficiary | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership share | 66.67% | |
Jointly owned utility plant, joint owner share | 33.33% | |
Share of coal production purchased by Company | 66.67% | |
Share of coal production purchased by joint venture partner | 33.33% |
Variable Interest Entities an_3
Variable Interest Entities and Noncontrolling Interests - EEGH (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||||
Jul. 31, 2021 | Jul. 31, 2020 | Dec. 31, 2019 | Nov. 30, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
EEGH | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Noncontrolling interest distributed | 25% | ||||||
EEGH | General Partner | Primary Beneficiary | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Variable interest entity, ownership percentage | 100% | ||||||
EEGH | Limited Partner | Primary Beneficiary | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Variable interest entity, ownership percentage | 25% | ||||||
EEGH | Disposed of by means other than sale | GT&S Transaction | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Noncontrolling interest distributed | 50% | ||||||
EEGH | Cove Point LNG, LP | Dominion Energy, Inc. | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership interest | 75% | ||||||
EEGH | Cove Point LNG, LP | Disposed of by means other than sale | GT&S Transaction | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Noncontrolling interest distributed | 50% | ||||||
EEGH | Carolina Gas Services, Inc. | Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Due to related parties | $ 1 | $ 7 | |||||
EEGH | Carolina Gas Services, Inc. | Shared Services | Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Related party amounts of transaction | $ 12 | $ 12 | $ 12 | ||||
EEGH | Questar Pipeline Services | Shared Services | Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Related party amounts of transaction | 23 | ||||||
EEGH | DES | Shared Services | Not Primary Beneficiary | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Related party amounts of transaction | $ 90 | ||||||
Dominion Energy, Inc. | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership interest | 50% | 50% | |||||
Dominion Energy, Inc. | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Sold noncontrolling partner interest | 25% | ||||||
Brookfield Super-Core Infrastructure Partners | Cove Point LNG, LP | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Ownership interest | 25% |
Variable Interest Entities - EG
Variable Interest Entities - EGTS (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
EGTS | DES | Shared Services | Not Primary Beneficiary | |
Schedule of Equity Method Investments [Line Items] | |
Related party amounts of transaction | $ 53 |
Supplemental Cash Flow Disclo_3
Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes received, net | 1,863 | 1,309 | 1,361 |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
Related party, cash received (paid) for income taxes | $ 1,961 | $ 1,441 | $ 1,504 |
Supplemental Cash Flow Disclo_4
Supplemental Cash Flow Disclosures - PAC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes (received) paid, net | (1,863) | (1,309) | (1,361) |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
PAC | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 380 | 395 | 348 |
Income taxes (received) paid, net | (185) | (120) | 107 |
Accruals related to property, plant and equipment additions | $ 558 | $ 254 | $ 344 |
Supplemental Cash Flow Disclo_5
Supplemental Cash Flow Disclosures - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Income Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes received, net | 1,863 | 1,309 | 1,361 |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
MEC | |||
Condensed Income Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 292 | 279 | 286 |
Income taxes received, net | 840 | 746 | 709 |
Accruals related to property, plant and equipment additions | $ 168 | $ 257 | $ 227 |
Supplemental Cash Flow Disclo_6
Supplemental Cash Flow Disclosures - MidAmerican Funding (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes received, net | 1,863 | 1,309 | 1,361 |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
MidAmerican Funding, LLC | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 309 | 296 | 302 |
Income taxes received, net | 845 | 751 | 715 |
Accruals related to property, plant and equipment additions | $ 168 | $ 257 | $ 227 |
Supplemental Cash Flow Disclo_7
Supplemental Cash Flow Disclosures - NPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes (received) paid, net | (1,863) | (1,309) | (1,361) |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
NPC | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 121 | 115 | 115 |
Income taxes (received) paid, net | (29) | 63 | 50 |
Accruals related to property, plant and equipment additions | $ 98 | $ 53 | $ 32 |
Supplemental Cash Flow Disclo_8
Supplemental Cash Flow Disclosures - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes (received) paid, net | (1,863) | (1,309) | (1,361) |
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
SPPC | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 45 | 41 | 42 |
Income taxes (received) paid, net | (1) | (3) | 2 |
Accruals related to property, plant and equipment additions | $ 57 | $ 27 | $ 17 |
Supplemental Cash Flow Disclo_9
Supplemental Cash Flow Disclosures - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes (received) paid, net | (1,863) | (1,309) | (1,361) |
Supplemental disclosure of non-cash investing and financing transactions: | |||
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
EEGH | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 143 | 144 | 317 |
Income taxes (received) paid, net | 2 | (60) | 31 |
Supplemental disclosure of non-cash investing and financing transactions: | |||
Accruals related to property, plant and equipment additions | 29 | 42 | 30 |
Equity distributions | (42) | (137) | 0 |
Equity contributions | 98 | 73 | 0 |
Distribution of Questar Pipeline Group | 0 | 0 | (699) |
Distribution of 50% interest in Cove Point | 0 | 0 | (2,765) |
Acquisition of Eastern Energy Gas by BHE | $ 0 | $ 0 | $ 343 |
Dominion Energy, Inc. | Cove Point LNG, LP | |||
Supplemental disclosure of non-cash investing and financing transactions: | |||
Ownership interest | 50% | 50% |
Supplemental Cash Flow Discl_10
Supplemental Cash Flow Disclosures - EGTS (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | $ 2,071 | $ 2,041 | $ 1,855 |
Income taxes (received) paid, net | (1,863) | (1,309) | (1,361) |
Supplemental disclosure of non-cash investing and financing transactions: | |||
Accruals related to property, plant and equipment additions | 1,049 | 834 | 801 |
EGTS | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Interest paid, net of amounts capitalized | 67 | 71 | 82 |
Income taxes (received) paid, net | 2 | (12) | 58 |
Supplemental disclosure of non-cash investing and financing transactions: | |||
Accruals related to property, plant and equipment additions | 15 | 29 | 25 |
Equity distributions | (21) | (58) | 0 |
Equity contributions | 34 | 292 | 0 |
Acquisition of Eastern Energy Gas by BHE | $ 0 | $ 0 | $ 40 |
Related Party Transactions - PA
Related Party Transactions - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Affiliated entity | Intercompany administrative services agreement and a mutual assistance agreement | |||
Related Party Transaction [Line Items] | |||
SG&A expenses from transactions with related party | $ 123 | $ 70 | $ 14 |
Due to affiliate | 16 | 9 | |
Services provided to related parties | 23 | 8 | 5 |
Affiliated entity | Long-term master materials supply contract | Marmon Utility, LLC | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 8 | 2 | 3 |
BHE | |||
Related Party Transaction [Line Items] | |||
Income tax receivable (payable), related parties current | 84 | 48 | |
Related party, cash received (paid) income taxes | 185 | 120 | (107) |
Subsidiary of Common Parent | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 8 | 6 | 6 |
BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 21 | 19 | 29 |
Equity Method Investee | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 119 | 148 | $ 145 |
Due to related parties | $ 10 | $ 7 |
Related Party Transactions - ME
Related Party Transactions - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Related party, cash received (paid) for income taxes | $ 1,961 | $ 1,441 | $ 1,504 |
MEC | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Expense reimbursement | 78 | 66 | 47 |
Receivables from affiliates | 9 | 10 | |
Accounts payable to affiliates | 22 | 17 | |
Affiliated notes receivable | 79 | 124 | |
Due to affiliate, noncurrent | 40 | 63 | |
MEC | BHE | |||
Related Party Transaction [Line Items] | |||
Related party expense | 79 | 72 | 15 |
Income tax receivable (payable), related parties current | 42 | 79 | |
Related party, cash received (paid) for income taxes | 840 | 746 | 709 |
MEC | Northern Natural Gas and BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 141 | $ 132 | $ 129 |
MEC | BHE Renewables | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | $ 7 |
Related Party Transactions - Mi
Related Party Transactions - MidAmerican Funding (Details) | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Related Party Transaction [Line Items] | |||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 | |
Related party, cash received (paid) for income taxes | 1,961,000,000 | 1,441,000,000 | $ 1,504,000,000 |
MidAmerican Funding, LLC | |||
Related Party Transaction [Line Items] | |||
Note payable to affiliate | $ 0 | 189,000,000 | |
Maximum debt to capitalization ratio | 0.67 | ||
Minimum interest coverage ratio | 2.2 | ||
MidAmerican Funding, LLC | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Expense reimbursement | $ 77,000,000 | 65,000,000 | 46,000,000 |
Receivables from affiliates | 10,000,000 | 11,000,000 | |
Accounts payable to affiliates | 22,000,000 | 17,000,000 | |
Affiliated notes receivable | 79,000,000 | 124,000,000 | |
Due to affiliate, noncurrent | 40,000,000 | 63,000,000 | |
MidAmerican Funding, LLC | BHE | |||
Related Party Transaction [Line Items] | |||
Related party expense | 79,000,000 | 72,000,000 | 15,000,000 |
Income tax receivable (payable), related parties current | 43,000,000 | 80,000,000 | |
Related party, cash received (paid) for income taxes | 845,000,000 | 751,000,000 | 715,000,000 |
MidAmerican Funding, LLC | Northern Natural Gas and BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 141,000,000 | 132,000,000 | $ 129,000,000 |
MidAmerican Funding, LLC | BHE Renewables | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 7,000,000 | ||
MHC, Inc. | Affiliated entity | MEC | |||
Related Party Transaction [Line Items] | |||
Proceeds from dividends received | 275,000,000 | ||
MHC, Inc. | Revolving Credit Arrangement, $300 million | Line of credit | BHE | |||
Related Party Transaction [Line Items] | |||
Maximum amount available | 300,000,000 | ||
Note payable to affiliate | 0 | $ 189,000,000 | |
Weighted average interest rate | 0.353% | ||
MHC, Inc. | Revolving Credit Arrangement, $100 million | Line of credit | BHE | |||
Related Party Transaction [Line Items] | |||
Credit facilities | 100,000,000 | ||
Notes receivable - affiliate | $ 0 | $ 0 |
Related Party Transactions - NP
Related Party Transactions - NPC (Details) - NPC - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 30, 2022 | |
Related Party Transaction [Line Items] | ||||
Notes receivable - affiliate | $ 100,000,000 | $ 0 | ||
BHE | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 46,000,000 | 30,000,000 | $ 6,000,000 | |
Kern River | ||||
Related Party Transaction [Line Items] | ||||
Related party expense | 49,000,000 | 52,000,000 | 52,000,000 | |
Due to affiliate | 3,000,000 | 4,000,000 | ||
SPPC | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 16,000,000 | 15,000,000 | 15,000,000 | |
Due to affiliate | 0 | 0 | ||
Receivables from affiliates | 33,000,000 | 2,000,000 | ||
Expense reimbursement | 25,000,000 | 25,000,000 | 26,000,000 | |
NV Energy | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 9,000,000 | 9,000,000 | 9,000,000 | |
Due to affiliate | 51,000,000 | 33,000,000 | ||
Receivables from affiliates | 0 | 0 | ||
Expense reimbursement | 3,000,000 | 1,000,000 | 0 | |
Notes receivable - affiliate | 100,000,000 | $ 100,000,000 | ||
Income tax receivable (payable), related parties current | 12,000,000 | 27,000,000 | ||
Related party, cash received (paid) income taxes | 29,000,000 | (63,000,000) | (50,000,000) | |
Distribution | PAC | ||||
Related Party Transaction [Line Items] | ||||
Due to affiliate | 0 | 0 | ||
Related party revenue | 4,000,000 | 3,000,000 | 3,000,000 | |
Receivables from affiliates | 0 | 0 | ||
Purchases from related party | 0 | 0 | 1,000,000 | |
Distribution | SPPC | ||||
Related Party Transaction [Line Items] | ||||
Due to affiliate | 5,000,000 | 0 | ||
Related party revenue | 362,000,000 | 179,000,000 | 106,000,000 | |
Receivables from affiliates | 41,000,000 | 13,000,000 | ||
Purchases from related party | $ 86,000,000 | $ 43,000,000 | $ 34,000,000 |
Related Party Transactions - SP
Related Party Transactions - SPPC (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 30, 2022 | |
Related Party Transaction [Line Items] | ||||
Related party, cash received (paid) for income taxes | $ 1,961,000,000 | $ 1,441,000,000 | $ 1,504,000,000 | |
SPPC | ||||
Related Party Transaction [Line Items] | ||||
Note payable to affiliate | 70,000,000 | 0 | ||
SPPC | BHE | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 23,000,000 | 14,000,000 | 4,000,000 | |
SPPC | NPC | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 25,000,000 | 25,000,000 | 26,000,000 | |
Receivables from affiliates | 0 | 0 | ||
Due to affiliate | 33,000,000 | 2,000,000 | ||
Expense reimbursement | 16,000,000 | 15,000,000 | 15,000,000 | |
SPPC | NV Energy | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 5,000,000 | 5,000,000 | 5,000,000 | |
Receivables from affiliates | 0 | 0 | ||
Due to affiliate | 47,000,000 | 19,000,000 | ||
Expense reimbursement | 1,000,000 | 0 | 0 | |
Note payable to affiliate | 70,000,000 | $ 100,000,000 | ||
Income tax receivable (payable), related parties current | 11,000,000 | 0 | ||
Related party, cash received (paid) for income taxes | 1,000,000 | 3,000,000 | (2,000,000) | |
SPPC | Distribution | NPC | ||||
Related Party Transaction [Line Items] | ||||
Related party revenue | 86,000,000 | 43,000,000 | 34,000,000 | |
Receivables from affiliates | 5,000,000 | 0 | ||
Purchases from related party | 362,000,000 | 179,000,000 | $ 106,000,000 | |
Due to affiliate | $ 41,000,000 | $ 13,000,000 |
Related Party Transactions - EE
Related Party Transactions - EEGH - Significant Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Capitalized expenditures | $ 7,505 | $ 6,611 | $ 6,765 |
EEGH | |||
Related Party Transaction [Line Items] | |||
Capitalized expenditures | 387 | 442 | 374 |
EEGH | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 27 | 32 | 4 |
Purchases of natural gas and transmission and storage services | 4 | 5 | 0 |
Services provided by related parties | 83 | 51 | 4 |
Services provided to related parties | $ 38 | $ 32 | 7 |
Capitalized expenditures | 14 | ||
EEGH | Affiliated entity | DES, Carolina Gas Services, DEQPS and other | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 207 | ||
Purchases of natural gas and transmission and storage services | 10 | ||
Services provided by related parties | 129 | ||
Services provided to related parties | $ 83 |
Related Party Transactions - _2
Related Party Transactions - EEGH - Narrative (Details) - USD ($) | 12 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 30, 2022 | Mar. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||||||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 | |||||
Par value | 51,702,000,000 | ||||||
EEGH | |||||||
Related Party Transaction [Line Items] | |||||||
Distributions | 0 | 0 | $ 4,323,000,000 | ||||
Par value | 3,918,000,000 | ||||||
EGTS | |||||||
Related Party Transaction [Line Items] | |||||||
Par value | 1,600,000,000 | ||||||
Affiliated entity | EEGH | |||||||
Related Party Transaction [Line Items] | |||||||
Related party revenue | 27,000,000 | 32,000,000 | 4,000,000 | ||||
Interest income, related party | 3,000,000 | ||||||
Affiliated entity | EEGH | Other assets due from affiliates | |||||||
Related Party Transaction [Line Items] | |||||||
Receivables from affiliates | 3,000,000 | ||||||
Affiliated entity | EEGH | Natural gas imbalance | Other current liabilities | |||||||
Related Party Transaction [Line Items] | |||||||
Due to affiliate | 1,000,000 | 5,000,000 | |||||
Affiliated entity | EGTS | |||||||
Related Party Transaction [Line Items] | |||||||
Related party revenue | 26,000,000 | 28,000,000 | 4,000,000 | ||||
Affiliated entity | EGTS | Natural gas imbalance | |||||||
Related Party Transaction [Line Items] | |||||||
Due to affiliate | 10,000,000 | 8,000,000 | |||||
Atlantic Coast Pipeline | Affiliated entity | EGTS | |||||||
Related Party Transaction [Line Items] | |||||||
Related party revenue | 46,000,000 | ||||||
Dominion Energy, Inc. | Affiliated entity | EEGH | |||||||
Related Party Transaction [Line Items] | |||||||
Notes receivable, related parties | $ 1,800,000,000 | ||||||
Distributions | 4,300,000,000 | ||||||
Dominion Energy, Inc. | Affiliated entity | EEGH | Notes Receivable | |||||||
Related Party Transaction [Line Items] | |||||||
Interest income, related party | 32,000,000 | ||||||
Dominion Energy, Inc. | Affiliated entity | EEGH | Eastern Energy and DEI Intercompany Revolving Credit Agreement | |||||||
Related Party Transaction [Line Items] | |||||||
Interest expense, borrowings | 3,000,000 | 3,000,000 | |||||
East Ohio | Affiliated entity | EEGH | |||||||
Related Party Transaction [Line Items] | |||||||
Notes receivable, related parties | $ 1,700,000,000 | ||||||
East Ohio | Affiliated entity | EEGH | Notes Receivable | |||||||
Related Party Transaction [Line Items] | |||||||
Interest income, related party | 33,000,000 | ||||||
DES | Affiliated entity | CPMLP Holdings Company, LLC | |||||||
Related Party Transaction [Line Items] | |||||||
Interest expense, borrowings | 3,000,000 | 3,000,000 | |||||
BHE | Affiliated entity | EEGH | |||||||
Related Party Transaction [Line Items] | |||||||
Related party, cash received (paid) income taxes | 47,000,000 | 76,000,000 | |||||
BHE | Affiliated entity | EEGH | Tax receivable | |||||||
Related Party Transaction [Line Items] | |||||||
Receivables from affiliates | 16,000,000 | 8,000,000 | |||||
BHE | Affiliated entity | EGTS | |||||||
Related Party Transaction [Line Items] | |||||||
Related party, cash received (paid) income taxes | 10,000,000 | $ (7,000,000) | |||||
BHE | Affiliated entity | EGTS | Tax receivable | |||||||
Related Party Transaction [Line Items] | |||||||
Receivables from affiliates | 21,000,000 | 11,000,000 | |||||
EEGH | Affiliated entity | BHE GT&S, LLC | BHE GT&S and Eastern Energy Intercompany Revolving Credit Agreement | |||||||
Related Party Transaction [Line Items] | |||||||
Line of credit, amount drawn | 536,000,000 | 7,000,000 | |||||
Par value | $ 650,000,000 | $ 400,000,000 | $ 200,000,000 | ||||
BHE GT&S, LLC | Affiliated entity | EEGH | Intercompany Revolving Credit Agreement With BHE GT&S | |||||||
Related Party Transaction [Line Items] | |||||||
Credit facilities | 400,000,000 | ||||||
BHE GT&S, LLC | Affiliated entity | EEGH | Intercompany Revolving Credit Agreement With BHE GT&S | Line of credit | |||||||
Related Party Transaction [Line Items] | |||||||
Line of credit, amount drawn | 0 | 0 | |||||
BHE GT&S, LLC | Affiliated entity | EEGH | BHE GT&S and Eastern Energy Intercompany Revolving Credit Agreement | |||||||
Related Party Transaction [Line Items] | |||||||
Interest income, related party | 7,000,000 | ||||||
MidAmerican Energy | Affiliated entity | EEGH | Shared benefit plan | |||||||
Related Party Transaction [Line Items] | |||||||
Due to related parties, noncurrent | 51,000,000 | 95,000,000 | |||||
MidAmerican Energy | Affiliated entity | EGTS | Shared benefit plan | |||||||
Related Party Transaction [Line Items] | |||||||
Due to related parties, noncurrent | $ 47,000,000 | $ 85,000,000 |
Related Party Transactions - EG
Related Party Transactions - EGTS - Significant Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Capitalized expenditures | $ 7,505 | $ 6,611 | $ 6,765 |
EGTS | |||
Related Party Transaction [Line Items] | |||
Capitalized expenditures | 275 | 358 | 263 |
EGTS | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 26 | 28 | 4 |
Purchases of natural gas and transmission and storage services | 4 | 5 | 0 |
Services provided by related parties | 46 | 26 | 2 |
Services provided to related parties | $ 62 | $ 57 | 10 |
Capitalized expenditures | 14 | ||
EGTS | Affiliated entity | DES and other | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 71 | ||
Purchases of natural gas and transmission and storage services | 7 | ||
Services provided by related parties | 67 | ||
Services provided to related parties | $ 86 |
Related Party Transactions - _3
Related Party Transactions - EGTS - Narrative (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | ||||
Credit facilities | $ 10,873,000,000 | $ 11,281,000,000 | ||
Affiliated entity | EGTS | ||||
Related Party Transaction [Line Items] | ||||
Related party revenue | 26,000,000 | 28,000,000 | $ 4,000,000 | |
Affiliated entity | EGTS | Natural gas imbalance | ||||
Related Party Transaction [Line Items] | ||||
Due to affiliate | 10,000,000 | 8,000,000 | ||
Affiliated entity | EGTS | Trade receivable | ||||
Related Party Transaction [Line Items] | ||||
Receivables from affiliates | 2,000,000 | |||
Atlantic Coast Pipeline | Affiliated entity | EGTS | ||||
Related Party Transaction [Line Items] | ||||
Related party revenue | 46,000,000 | |||
BHE | Affiliated entity | EGTS | ||||
Related Party Transaction [Line Items] | ||||
Related party, cash received (paid) income taxes | 10,000,000 | (7,000,000) | ||
BHE | Affiliated entity | EGTS | Tax receivable | ||||
Related Party Transaction [Line Items] | ||||
Receivables from affiliates | 21,000,000 | 11,000,000 | ||
MidAmerican Energy | Affiliated entity | EGTS | Shared benefit plan | ||||
Related Party Transaction [Line Items] | ||||
Due to related parties, noncurrent | $ 47,000,000 | 85,000,000 | ||
EEGH | Affiliated entity | EGTS | Intercompany Revolving Credit Agreement With Eastern Energy Gas, Expiring March 2024 | ||||
Related Party Transaction [Line Items] | ||||
Related party amounts of transaction | $ 400,000,000 | |||
Due from related parties | 2,071 | |||
Interest income, related party | 2,071 | |||
EEGH | Affiliated entity | EGTS | Unsecured debt | ||||
Related Party Transaction [Line Items] | ||||
Interest expense, borrowings | 44,000,000 | 88,000,000 | ||
EEGH | Affiliated entity | EGTS | Unsecured debt | Minimum | ||||
Related Party Transaction [Line Items] | ||||
Stated rate | 3.60% | |||
EEGH | Affiliated entity | EGTS | Unsecured debt | Maximum | ||||
Related Party Transaction [Line Items] | ||||
Stated rate | 5% | |||
EEGH | Affiliated entity | EGTS | Intercompany Revolving Credit Agreement With Eastern Energy Gas, Expiring November 2023 | Line of credit | ||||
Related Party Transaction [Line Items] | ||||
Credit facilities | $ 400,000,000 | |||
Line of credit, amount drawn | $ 36,000,000 | $ 68,000,000 | ||
Weighted average interest rate | 1.43% | 0.51% | ||
Interest expense, borrowings | $ 1,000,000 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Depreciation and amortization | 4,286 | 3,881 | 3,455 |
Operating income (loss) | 5,241 | 5,327 | 4,291 |
Interest expense | 2,216 | 2,118 | 2,021 |
Capitalized interest | 76 | 64 | 80 |
Allowance for equity funds | 167 | 126 | 165 |
Other Interest and Dividend Income | 154 | 89 | 71 |
(Losses) gains on marketable securities, net | (2,002) | 1,823 | 4,797 |
Other, net | (7) | (17) | 88 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Total earnings on common shares | 2,675 | 5,669 | 6,917 |
Capitalized expenditures | 7,505 | 6,611 | 6,765 |
Property, plant and equipment, net | 93,043 | 89,816 | 86,128 |
Assets | 133,840 | 132,065 | 127,316 |
BHE and Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 606 | 541 | 438 |
Depreciation and amortization | 4 | 2 | 1 |
Operating income (loss) | (16) | (75) | (54) |
Interest expense | 615 | 573 | 517 |
Income tax (benefit) expense | (660) | (286) | 1,089 |
Total earnings on common shares | (2,017) | 1,319 | 3,092 |
Capitalized expenditures | 46 | 21 | (130) |
Property, plant and equipment, net | 239 | 243 | (22) |
Assets | 6,290 | 8,220 | 7,933 |
PAC | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 5,679 | 5,296 | 5,341 |
Depreciation and amortization | 1,120 | 1,088 | 1,209 |
Operating income (loss) | 1,158 | 1,133 | 924 |
Interest expense | 431 | 430 | 426 |
Income tax (benefit) expense | (61) | (78) | (75) |
Total earnings on common shares | 921 | 889 | 741 |
Capitalized expenditures | 2,166 | 1,513 | 2,540 |
Property, plant and equipment, net | 24,430 | 22,914 | 22,430 |
Assets | 30,559 | 27,615 | 26,862 |
MidAmerican Funding | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 4,025 | 3,547 | 2,728 |
Depreciation and amortization | 1,168 | 914 | 716 |
Operating income (loss) | 438 | 416 | 454 |
Interest expense | 333 | 319 | 322 |
Income tax (benefit) expense | (776) | (680) | (574) |
Total earnings on common shares | 947 | 883 | 818 |
Capitalized expenditures | 1,869 | 1,912 | 1,836 |
Property, plant and equipment, net | 21,092 | 20,302 | 19,279 |
Assets | 26,077 | 25,352 | 23,530 |
NV Energy | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,824 | 3,107 | 2,854 |
Depreciation and amortization | 566 | 549 | 502 |
Operating income (loss) | 606 | 621 | 649 |
Interest expense | 221 | 206 | 227 |
Income tax (benefit) expense | 56 | 56 | 61 |
Total earnings on common shares | 427 | 439 | 410 |
Capitalized expenditures | 1,113 | 749 | 675 |
Property, plant and equipment, net | 10,993 | 10,231 | 9,865 |
Assets | 16,676 | 15,239 | 14,501 |
Northern Powergrid | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,365 | 1,188 | 1,022 |
Depreciation and amortization | 361 | 305 | 266 |
Operating income (loss) | 551 | 543 | 421 |
Interest expense | 133 | 130 | 130 |
Income tax (benefit) expense | 75 | 192 | 96 |
Total earnings on common shares | 385 | 247 | 201 |
Capitalized expenditures | 768 | 742 | 682 |
Property, plant and equipment, net | 7,445 | 7,572 | 7,230 |
Assets | 9,005 | 9,326 | 8,782 |
BHE Pipeline Group | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,844 | 3,544 | 1,578 |
Depreciation and amortization | 508 | 492 | 231 |
Operating income (loss) | 1,720 | 1,516 | 779 |
Interest expense | 148 | 143 | 74 |
Income tax (benefit) expense | 276 | 269 | 162 |
Total earnings on common shares | 1,040 | 807 | 528 |
Capitalized expenditures | 1,157 | 1,128 | 659 |
Property, plant and equipment, net | 16,216 | 15,692 | 15,097 |
Assets | 21,005 | 20,434 | 19,541 |
BHE Transmission | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 732 | 731 | 659 |
Depreciation and amortization | 239 | 238 | 201 |
Operating income (loss) | 333 | 339 | 316 |
Interest expense | 153 | 155 | 148 |
Income tax (benefit) expense | 14 | 10 | 13 |
Total earnings on common shares | 247 | 247 | 231 |
Capitalized expenditures | 200 | 279 | 372 |
Property, plant and equipment, net | 6,209 | 6,590 | 6,445 |
Assets | 9,334 | 9,476 | 9,208 |
BHE Renewables | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 994 | 981 | 936 |
Depreciation and amortization | 264 | 241 | 284 |
Operating income (loss) | 300 | 329 | 291 |
Interest expense | 175 | 158 | 166 |
Income tax (benefit) expense | (887) | (753) | (602) |
Total earnings on common shares | 625 | 451 | 521 |
Capitalized expenditures | 138 | 225 | 95 |
Property, plant and equipment, net | 6,231 | 6,103 | 5,645 |
Assets | 11,458 | 11,829 | 12,004 |
HomeServices | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 5,268 | 6,215 | 5,396 |
Depreciation and amortization | 56 | 52 | 45 |
Operating income (loss) | 151 | 505 | 511 |
Interest expense | 7 | 4 | 11 |
Income tax (benefit) expense | 47 | 138 | 138 |
Total earnings on common shares | 100 | 387 | 375 |
Capitalized expenditures | 48 | 42 | 36 |
Property, plant and equipment, net | 188 | 169 | 159 |
Assets | 3,436 | 4,574 | 4,955 |
U.S. | |||
Segment Reporting Information [Line Items] | |||
Revenues | 24,263 | 23,215 | 19,254 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 771 | 4,650 | 6,954 |
Property, plant and equipment, net | 79,578 | 75,774 | 72,583 |
United Kingdom | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,345 | 1,188 | 1,022 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 447 | 454 | 338 |
Property, plant and equipment, net | 6,959 | 7,487 | 7,134 |
Canada | |||
Segment Reporting Information [Line Items] | |||
Revenues | 709 | 719 | 653 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 181 | 181 | 173 |
Property, plant and equipment, net | 6,091 | 6,547 | 6,401 |
Australia | |||
Segment Reporting Information [Line Items] | |||
Revenues | 20 | 0 | 0 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 15 | (8) | 0 |
Property, plant and equipment, net | 415 | 8 | 10 |
Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | 28 | 23 |
Income (loss) before income tax expense (benefit) and equity income (loss) | $ (1) | $ 17 | $ 6 |
Segment Information - Goodwill
Segment Information - Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [Roll Forward] | ||
Beginning balance | $ 11,650 | $ 11,506 |
Acquisitions | 16 | 140 |
Foreign currency translation | (177) | 4 |
Ending balance | 11,489 | 11,650 |
PAC | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,129 | 1,129 |
Acquisitions | 0 | 0 |
Foreign currency translation | 0 | 0 |
Ending balance | 1,129 | 1,129 |
MidAmerican Funding | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 2,102 | 2,102 |
Acquisitions | 0 | 0 |
Foreign currency translation | 0 | 0 |
Ending balance | 2,102 | 2,102 |
NV Energy | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 2,369 | 2,369 |
Acquisitions | 0 | 0 |
Foreign currency translation | 0 | 0 |
Ending balance | 2,369 | 2,369 |
Northern Powergrid | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 992 | 1,000 |
Acquisitions | 0 | 0 |
Foreign currency translation | (75) | (8) |
Ending balance | 917 | 992 |
BHE Pipeline Group | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,814 | 1,803 |
Acquisitions | 0 | 11 |
Foreign currency translation | 0 | 0 |
Ending balance | 1,814 | 1,814 |
BHE Transmission | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,563 | 1,551 |
Acquisitions | 0 | 0 |
Foreign currency translation | (102) | 12 |
Ending balance | 1,461 | 1,563 |
BHE Renewables | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 95 | 95 |
Acquisitions | 0 | 0 |
Foreign currency translation | 0 | 0 |
Ending balance | 95 | 95 |
HomeServices | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,586 | 1,457 |
Acquisitions | 16 | 129 |
Foreign currency translation | 0 | 0 |
Ending balance | $ 1,602 | $ 1,586 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) operatingSegment reportableSegment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating income (loss) | 5,241 | 5,327 | 4,291 |
Interest expense | 2,216 | 2,118 | 2,021 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income attributable to parent | 2,721 | 5,790 | 6,943 |
Capitalized expenditures | 7,505 | 6,611 | 6,765 |
Assets | $ 133,840 | 132,065 | 127,316 |
MEC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 4,025 | 3,547 | 2,720 |
Depreciation and amortization | 1,168 | 914 | 716 |
Operating income (loss) | 438 | 416 | 448 |
Interest expense | 313 | 302 | 304 |
Income tax (benefit) expense | (770) | (675) | (570) |
Net income attributable to parent | 961 | 894 | 826 |
Capitalized expenditures | 1,869 | 1,912 | 1,836 |
Assets | 23,978 | 23,257 | 21,437 |
MEC | Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7 | 15 | 8 |
Income tax (benefit) expense | 0 | (1) | 0 |
Net income attributable to parent | 0 | 0 | 1 |
Assets | 1 | 1 | 1 |
MEC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,988 | 2,529 | 2,139 |
Depreciation and amortization | 1,112 | 861 | 667 |
Operating income (loss) | 372 | 358 | 384 |
Interest expense | 290 | 279 | 281 |
Income tax (benefit) expense | (779) | (677) | (584) |
Net income attributable to parent | 931 | 844 | 780 |
Capitalized expenditures | 1,742 | 1,806 | 1,704 |
Assets | 22,092 | 21,385 | 19,892 |
MEC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,030 | 1,003 | 573 |
Depreciation and amortization | 56 | 53 | 49 |
Operating income (loss) | 66 | 58 | 64 |
Interest expense | 23 | 23 | 23 |
Income tax (benefit) expense | 9 | 3 | 14 |
Net income attributable to parent | 30 | 50 | 45 |
Capitalized expenditures | 127 | 106 | 132 |
Assets | $ 1,885 | $ 1,871 | $ 1,544 |
Segment Information - MidAmeric
Segment Information - MidAmerican Funding (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) operatingSegment reportableSegment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating income (loss) | 5,241 | 5,327 | 4,291 |
Interest expense | 2,216 | 2,118 | 2,021 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
Capitalized expenditures | 7,505 | 6,611 | 6,765 |
Assets | 133,840 | 132,065 | 127,316 |
Goodwill | $ 11,489 | 11,650 | 11,506 |
MidAmerican Funding, LLC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 4,025 | 3,547 | 2,728 |
Depreciation and amortization | 1,168 | 914 | 716 |
Operating income (loss) | 438 | 416 | 454 |
Interest expense | 333 | 319 | 322 |
Income tax (benefit) expense | (776) | (680) | (574) |
Net income (loss) attributable to parent | 947 | 883 | 818 |
Capitalized expenditures | 1,869 | 1,912 | 1,836 |
Assets | 25,254 | 24,531 | 22,711 |
Goodwill | 1,270 | 1,270 | |
MidAmerican Funding, LLC | Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7 | 15 | 16 |
Operating income (loss) | 0 | 0 | 6 |
Interest expense | 20 | 17 | 18 |
Income tax (benefit) expense | (6) | (6) | (4) |
Net income (loss) attributable to parent | (14) | (11) | (7) |
Assets | 8 | 5 | 5 |
MidAmerican Funding, LLC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,988 | 2,529 | 2,139 |
Depreciation and amortization | 1,112 | 861 | 667 |
Operating income (loss) | 372 | 358 | 384 |
Interest expense | 290 | 279 | 281 |
Income tax (benefit) expense | (779) | (677) | (584) |
Net income (loss) attributable to parent | 931 | 844 | 780 |
Capitalized expenditures | 1,742 | 1,806 | 1,704 |
Assets | 23,283 | 22,576 | 21,083 |
Goodwill | 1,191 | 1,191 | |
MidAmerican Funding, LLC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,030 | 1,003 | 573 |
Depreciation and amortization | 56 | 53 | 49 |
Operating income (loss) | 66 | 58 | 64 |
Interest expense | 23 | 23 | 23 |
Income tax (benefit) expense | 9 | 3 | 14 |
Net income (loss) attributable to parent | 30 | 50 | 45 |
Capitalized expenditures | 127 | 106 | 132 |
Assets | 1,963 | 1,950 | $ 1,623 |
Goodwill | $ 79 | $ 79 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) reportableSegment operatingSegment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 26,337 | $ 25,150 | $ 20,952 |
Operating income (loss) | 5,241 | 5,327 | 4,291 |
Interest expense | 2,216 | 2,118 | 2,021 |
Allowance for equity funds | 167 | 126 | 165 |
Interest and dividend income | 154 | 89 | 71 |
Other, net | (7) | (17) | 88 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Assets | $ 133,840 | 132,065 | 127,316 |
SPPC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 1,193 | 965 | 854 |
Operating income (loss) | 165 | 167 | 165 |
Interest expense | 58 | 54 | 56 |
Allowance for borrowed funds | 3 | 2 | 2 |
Allowance for equity funds | 7 | 7 | 4 |
Interest and dividend income | 18 | 9 | 4 |
Other, net | 2 | 11 | 7 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 137 | 142 | 126 |
Assets | 4,732 | 4,223 | 3,919 |
SPPC | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | 165 | 167 | 165 |
SPPC | Other | |||
Segment Reporting Information [Line Items] | |||
Assets | 67 | 29 | 37 |
SPPC | Regulated electric | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,025 | 848 | 738 |
SPPC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,025 | 848 | 738 |
Operating income (loss) | 146 | 148 | 147 |
Assets | 4,224 | 3,829 | 3,540 |
SPPC | Regulated natural gas | |||
Segment Reporting Information [Line Items] | |||
Revenues | 168 | 117 | 116 |
SPPC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 168 | 117 | 116 |
Operating income (loss) | 19 | 19 | 18 |
Assets | $ 441 | $ 365 | $ 342 |
Schedule I Condensed Financia_2
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||||
Cash and cash equivalents | $ 1,591 | $ 1,096 | ||
Accounts receivable | 2,876 | 2,468 | ||
Other current assets | 1,345 | 1,583 | ||
Total current assets | 11,002 | 8,248 | ||
Total investments | 6,462 | 8,490 | ||
Goodwill | 11,489 | 11,650 | $ 11,506 | |
Other assets | 3,290 | 3,144 | ||
Total assets | 133,840 | 132,065 | 127,316 | |
Current liabilities: | ||||
Short-term debt | 1,119 | 2,009 | ||
Total current liabilities | 10,313 | 8,762 | ||
BHE senior debt | 13,096 | 13,003 | ||
BHE junior subordinated debentures | 100 | 100 | ||
Long-term debt | 51,635 | 49,762 | ||
Other long-term liabilities | 4,706 | 4,319 | ||
Total liabilities | 83,201 | 81,476 | ||
Shareholders' equity: | ||||
Preferred stock | 850 | 1,650 | ||
Common stock | 0 | 0 | ||
Additional paid-in capital | 6,298 | 6,374 | ||
Long-term income tax receivable | 0 | 744 | ||
Retained earnings | 41,833 | 40,754 | ||
Accumulated other comprehensive loss, net | (2,149) | (1,340) | ||
Total shareholder's equity | 46,832 | 46,694 | ||
Noncontrolling interest | 3,807 | 3,895 | ||
Total equity | 50,639 | 50,589 | $ 46,977 | $ 32,578 |
Total liabilities and shareholder's equity | 133,840 | 132,065 | ||
Parent Company | ||||
Current assets: | ||||
Cash and cash equivalents | 32 | 18 | ||
Accounts receivable | 4 | 0 | ||
Receivables from affiliates | 263 | 117 | ||
Notes receivable - affiliate | 10 | 189 | ||
Income tax receivable | 28 | 23 | ||
Other current assets | 12 | 13 | ||
Total current assets | 349 | 360 | ||
Investments in subsidiaries | 59,944 | 58,190 | ||
Total investments | 205 | 237 | ||
Goodwill | 1,221 | 1,221 | ||
Other assets | 1,152 | 1,101 | ||
Total assets | 62,871 | 61,109 | ||
Current liabilities: | ||||
Accounts payable and other current liabilities | 429 | 397 | ||
Note payable to affiliate | 287 | 353 | ||
Short-term debt | 245 | 0 | ||
Current portion of senior debt | 900 | 0 | ||
Total current liabilities | 1,861 | 750 | ||
BHE senior debt | 13,096 | 13,003 | ||
BHE junior subordinated debentures | 100 | 100 | ||
Notes payable - affiliate | 477 | 2 | ||
Other long-term liabilities | 505 | 560 | ||
Total liabilities | 16,039 | 14,415 | ||
Shareholders' equity: | ||||
Preferred stock | 850 | 1,650 | ||
Common stock | 0 | 0 | ||
Additional paid-in capital | 6,298 | 6,374 | ||
Long-term income tax receivable | 0 | 744 | ||
Retained earnings | 41,833 | 40,754 | ||
Accumulated other comprehensive loss, net | (2,149) | (1,340) | ||
Total shareholder's equity | 46,832 | 46,694 | ||
Noncontrolling interest | 0 | 0 | ||
Total equity | 46,832 | 46,694 | ||
Total liabilities and shareholder's equity | 62,871 | 61,109 | ||
MidAmerican Funding LLC | ||||
Current assets: | ||||
Receivables from affiliates | 1 | 1 | ||
Investments in subsidiaries | 10,959 | 10,070 | ||
Total assets | 10,960 | 10,071 | ||
Current liabilities: | ||||
Other accrued current liabilities | 5 | 5 | ||
Notes payable - affiliate | 36 | 25 | ||
Long-term debt | 240 | 240 | ||
Total liabilities | 281 | 270 | ||
Shareholders' equity: | ||||
Paid-in capital | 1,679 | 1,679 | ||
Retained earnings | 9,000 | 8,122 | ||
Total shareholder's equity | 10,679 | 9,801 | ||
Total liabilities and shareholder's equity | $ 10,960 | $ 10,071 |
Schedule I Condensed Financia_3
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Balance Sheets (Parenthetical) (Details) - $ / shares shares in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding | 1 | 2 |
Preferred stock, shares issued | 1 | 2 |
Common stock, shares authorized | 115 | 115 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
Parent Company | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding | 1 | 2 |
Preferred stock, shares issued | 1 | 2 |
Common stock, shares authorized | 115 | 115 |
Common stock, shares issued | 76 | 76 |
Common stock, shares outstanding | 76 | 76 |
Schedule I Condensed Financia_4
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Statements of Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating costs and expenses: | |||
Depreciation and amortization | $ 4,286 | $ 3,881 | $ 3,455 |
Total operating expenses | 21,096 | 19,823 | 16,661 |
Operating income | 5,241 | 5,327 | 4,291 |
Other income (expense): | |||
Interest expense | (2,216) | (2,118) | (2,021) |
Other, net | (7) | (17) | 88 |
Total other income (expense) | (3,828) | (33) | 3,180 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,413 | 5,294 | 7,471 |
Income tax (benefit) expense | (1,916) | (1,132) | 308 |
Equity income (loss) | (185) | (237) | (149) |
Net income | 3,144 | 6,189 | 7,014 |
Net income attributable to noncontrolling interests | 423 | 399 | 71 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
Preferred dividends | 46 | 121 | 26 |
Earnings on common shares | 2,675 | 5,669 | 6,917 |
MidAmerican Funding LLC | |||
Other income (expense): | |||
Interest expense | (17) | (16) | (16) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (17) | (16) | (16) |
Income tax (benefit) expense | (5) | (5) | (5) |
Equity income (loss) | 959 | 894 | 829 |
Net income (loss) attributable to parent | 947 | 883 | 818 |
Parent Company | |||
Operating costs and expenses: | |||
General and administration | 31 | 83 | 57 |
Depreciation and amortization | 8 | 6 | 4 |
Total operating expenses | 39 | 89 | 61 |
Operating income | (39) | (89) | (61) |
Other income (expense): | |||
Interest expense | (629) | (580) | (527) |
Other, net | (45) | 1,846 | 4,789 |
Total other income (expense) | (674) | 1,266 | 4,262 |
Income (loss) before income tax expense (benefit) and equity income (loss) | (713) | 1,177 | 4,201 |
Income tax (benefit) expense | (259) | 194 | 1,089 |
Equity income (loss) | 3,175 | 4,807 | 3,832 |
Net income | 2,721 | 5,790 | 6,944 |
Net income attributable to noncontrolling interests | 0 | 0 | 1 |
Net income (loss) attributable to parent | 2,721 | 5,790 | 6,943 |
Preferred dividends | 46 | 121 | 26 |
Earnings on common shares | $ 2,675 | $ 5,669 | $ 6,917 |
Schedule I Condensed Financia_5
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $ 3,144 | $ 6,189 | $ 7,014 |
Other comprehensive (loss) income, net of tax | (806) | 217 | 154 |
Comprehensive income | 2,338 | 6,406 | 7,168 |
Comprehensive income attributable to noncontrolling interests | 426 | 404 | 71 |
Comprehensive income (loss) attributable to parent | 1,912 | 6,002 | 7,097 |
Parent Company | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 2,721 | 5,790 | 6,944 |
Other comprehensive (loss) income, net of tax | (809) | 212 | 154 |
Comprehensive income | 1,912 | 6,002 | 7,098 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 1 |
Comprehensive income (loss) attributable to parent | $ 1,912 | $ 6,002 | $ 7,097 |
Schedule I Condensed Financia_6
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | $ 9,359 | $ 8,692 | $ 6,224 |
Cash flows from investing activities: | |||
Purchases of marketable securities | (574) | (297) | (370) |
Proceeds from sales of marketable securities | 2,464 | 273 | 325 |
Purchases of other investments | (1,958) | (20) | (1,323) |
Proceeds from other investments | 6 | 1,300 | 13 |
Other, net | 12 | (74) | 76 |
Net cash flows from investing activities | (7,750) | (5,763) | (13,165) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 0 | 3,750 |
Preferred stock redemptions | (800) | (2,100) | 0 |
Preferred dividends | (50) | (132) | (7) |
Common stock purchases | (870) | 0 | (126) |
Net proceeds from (repayments of) short-term debt | (867) | (276) | (939) |
Other, net | (274) | (70) | (162) |
Net cash flows from financing activities | (1,006) | (3,131) | 7,103 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 573 | (201) | 177 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,244 | 1,445 | 1,268 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,817 | 1,244 | 1,445 |
MidAmerican Funding LLC | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | (12) | (12) | (12) |
Cash flows from investing activities: | |||
Proceeds from dividends received | 69 | 0 | 0 |
Net cash flows from investing activities | 69 | 0 | 0 |
Cash flows from financing activities: | |||
Distributions | (69) | 0 | 0 |
Notes payable to affiliate, net | 12 | 12 | 12 |
Net cash flows from financing activities | (57) | 12 | 12 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 0 | 0 | 0 |
Parent Company | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | 1,252 | 1,819 | 1,639 |
Cash flows from investing activities: | |||
Investments in subsidiaries | (1,085) | (1,206) | (6,422) |
Purchases of marketable securities | (20) | (29) | (55) |
Proceeds from sales of marketable securities | 11 | 28 | 22 |
Purchases of other investments | 0 | 0 | (1,290) |
Proceeds from other investments | 0 | 1,290 | 0 |
Notes receivable from affiliate, net | 390 | 200 | (121) |
Other, net | (44) | (20) | (20) |
Net cash flows from investing activities | (748) | 263 | (7,886) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 0 | 3,750 |
Preferred stock redemptions | (800) | (2,100) | 0 |
Preferred dividends | (50) | (132) | (7) |
Common stock purchases | (870) | 0 | (126) |
Proceeds from BHE senior debt | 986 | 0 | 5,212 |
Repayments of BHE senior debt | 0 | (450) | (350) |
Net proceeds from (repayments of) short-term debt | 245 | 0 | (1,590) |
Other, net | (1) | (5) | (32) |
Net cash flows from financing activities | (490) | (2,687) | 6,857 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 14 | (605) | 610 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 18 | 623 | 13 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 32 | $ 18 | $ 623 |
Schedule I Condensed Financia_7
Schedule I Condensed Financial Statements (Parent Company Only) - Notes (Details) - Parent Company - USD ($) $ in Millions | 2 Months Ended | 12 Months Ended | ||
Feb. 24, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
Proceeds from dividends received | $ 1,900 | $ 2,400 | $ 2,000 | |
Guarantor obligation | $ 1,600 | |||
Subsequent event | ||||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
Proceeds from dividends received | $ 495 |
Schedule I Condensed Financia_8
Schedule I Condensed Financial Statements (Parent Company Only) - Notes - MidAmerican Funding (Details) - MidAmerican Funding LLC - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Dividends declared and paid | $ 69 | |||
Subsequent event | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Dividends declared and paid | $ 100 | |||
MHC, Inc. | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Accounts payable to affiliates | $ 81 | $ 12 | $ 12 |