Cover
Cover - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Jan. 31, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-K | |
Document Annual Report | true | |
Document Period End Date | Dec. 31, 2021 | |
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 | 76,368,874 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
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 Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 6100 Neil Road | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89511 | |
City Area Code | 775 | |
Local Phone Number | 834-4011 | |
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 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2021 | |
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 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Restricted cash and cash equivalents | 127 | 140 |
Trade receivables, net | 2,468 | 2,107 |
Inventories | 1,122 | 1,168 |
Mortgage loans held for sale | 1,263 | 2,001 |
Regulatory assets | 544 | 283 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Property, plant and equipment, net | 89,816 | 86,128 |
Goodwill | 11,650 | 11,506 |
Regulatory assets | 3,419 | 3,157 |
Investments and restricted cash and cash equivalents and investments | 15,788 | 14,320 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Accrued employee expenses | 372 | 383 |
Short-term debt | 2,009 | 2,286 |
Current portion of long-term debt | 1,265 | 1,839 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
BHE senior debt | 13,003 | 12,997 |
BHE junior subordinated debentures | 100 | 100 |
Subsidiary debt | 35,394 | 34,930 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock | 1,650 | 3,750 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,374 | 6,377 |
Long-term income tax receivable | (744) | (658) |
Retained earnings | 40,754 | 35,093 |
Accumulated other comprehensive loss, net | (1,340) | (1,552) |
Total shareholder's equity | 46,694 | 43,010 |
Noncontrolling interests | 3,895 | 3,967 |
Total equity | 50,589 | 46,977 |
Total liabilities and shareholder's equity | $ 132,065 | $ 127,316 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 | 2 | 4 |
Preferred stock, shares outstanding | 2 | 4 |
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Inventories | 1,122 | 1,168 |
Regulatory assets | 544 | 283 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Regulatory assets | 3,419 | 3,157 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Accrued employee expenses | 372 | 383 |
Short-term debt | 2,009 | 2,286 |
Current portion of long-term debt | 1,265 | 1,839 |
Regulatory liabilities | 254 | 254 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 1,650 | 3,750 |
Common stock | 0 | 0 |
Additional paid-in capital | 6,374 | 6,377 |
Retained earnings | 40,754 | 35,093 |
Accumulated other comprehensive loss, net | (1,340) | (1,552) |
Total shareholder's equity | 46,694 | 43,010 |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
PAC | ||
Current assets: | ||
Cash and cash equivalents | 179 | 13 |
Trade receivables, net | 725 | 703 |
Other receivables | 52 | 48 |
Inventories | 474 | 482 |
Regulatory assets | 65 | 116 |
Prepaid expenses | 79 | 79 |
Other current assets | 147 | 82 |
Total current assets | 1,721 | 1,523 |
Property, plant and equipment, net | 22,914 | 22,430 |
Regulatory assets | 1,287 | 1,279 |
Other assets | 534 | 470 |
Total assets | 26,456 | 25,702 |
Current liabilities: | ||
Accounts payable | 680 | 772 |
Accrued interest | 121 | 127 |
Accrued property, income and other taxes | 78 | 80 |
Accrued employee expenses | 89 | 84 |
Short-term debt | 0 | 93 |
Current portion of long-term debt | 155 | 420 |
Regulatory liabilities | 118 | 115 |
Other current liabilities | 219 | 174 |
Total current liabilities | 1,460 | 1,865 |
Long-term debt | 8,575 | 8,192 |
Regulatory liabilities | 2,650 | 2,727 |
Deferred income taxes | 2,847 | 2,627 |
Other long-term liabilities | 1,011 | 1,118 |
Total liabilities | 16,543 | 16,529 |
Commitments and contingencies | ||
Equity: | ||
Preferred stock | 2 | 2 |
Common stock | 0 | 0 |
Additional paid-in capital | 4,479 | 4,479 |
Retained earnings | 5,449 | 4,711 |
Accumulated other comprehensive loss, net | (17) | (19) |
Total shareholder's equity | 9,913 | 9,173 |
Total liabilities and shareholder's equity | $ 26,456 | $ 25,702 |
Consolidated Balance Sheets -_2
Consolidated Balance Sheets - PAC (Parenthetical) - $ / shares shares in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Inventories | 1,122 | 1,168 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Regulatory assets | 3,419 | 3,157 |
Investments and restricted cash and cash equivalents and investments | 15,788 | 14,320 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Asset retirement obligations | 1,210 | 1,157 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,374 | 6,377 |
Retained earnings | 40,754 | 35,093 |
Total shareholder's equity | 46,694 | 43,010 |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
MEC | ||
Current assets: | ||
Cash and cash equivalents | 232 | 38 |
Trade receivables, net | 526 | 234 |
Income taxes receivable | 79 | 0 |
Inventories | 234 | 278 |
Other current assets | 123 | 73 |
Total current assets | 1,194 | 623 |
Property, plant and equipment, net | 20,301 | 19,279 |
Regulatory assets | 473 | 392 |
Investments and restricted cash and cash equivalents and investments | 1,026 | 911 |
Other assets | 263 | 232 |
Total assets | 23,257 | 21,437 |
Current liabilities: | ||
Accounts payable | 531 | 408 |
Accrued interest | 84 | 78 |
Accrued property, income and other taxes | 158 | 161 |
Other current liabilities | 145 | 183 |
Total current liabilities | 918 | 830 |
Long-term debt | 7,721 | 7,210 |
Regulatory liabilities | 1,080 | 1,111 |
Deferred income taxes | 3,389 | 3,054 |
Asset retirement obligations | 714 | 709 |
Other long-term liabilities | 475 | 458 |
Total liabilities | 14,297 | 13,372 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 561 | 561 |
Retained earnings | 8,399 | 7,504 |
Total shareholder's equity | 8,960 | 8,065 |
Total liabilities and shareholder's equity | $ 23,257 | $ 21,437 |
Balance Sheets - MEC (Parenthet
Balance Sheets - MEC (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Inventories | 1,122 | 1,168 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Property, plant and equipment, net | 89,816 | 86,128 |
Goodwill | 11,650 | 11,506 |
Regulatory assets | 3,419 | 3,157 |
Investments and restricted cash and cash equivalents and investments | 15,788 | 14,320 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Asset retirement obligations | 1,210 | 1,157 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 6,374 | 6,377 |
Retained earnings | 40,754 | 35,093 |
Total shareholder's equity | 46,694 | 43,010 |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
MidAmerican Funding, LLC | ||
Current assets: | ||
Cash and cash equivalents | 233 | 39 |
Trade receivables, net | 526 | 234 |
Income taxes receivable | 80 | 0 |
Inventories | 234 | 278 |
Other current assets | 123 | 74 |
Total current assets | 1,196 | 625 |
Property, plant and equipment, net | 20,302 | 19,279 |
Goodwill | 1,270 | 1,270 |
Regulatory assets | 473 | 392 |
Investments and restricted cash and cash equivalents and investments | 1,028 | 913 |
Other assets | 262 | 232 |
Total assets | 24,531 | 22,711 |
Current liabilities: | ||
Accounts payable | 531 | 408 |
Accrued interest | 89 | 83 |
Accrued property, income and other taxes | 158 | 161 |
Note payable to affiliate | 189 | 177 |
Other current liabilities | 146 | 183 |
Total current liabilities | 1,113 | 1,012 |
Long-term debt | 7,961 | 7,450 |
Regulatory liabilities | 1,080 | 1,111 |
Deferred income taxes | 3,387 | 3,052 |
Asset retirement obligations | 714 | 709 |
Other long-term liabilities | 475 | 458 |
Total liabilities | 14,730 | 13,792 |
Commitments and contingencies | ||
Equity: | ||
Additional paid-in capital | 1,679 | 1,679 |
Retained earnings | 8,122 | 7,240 |
Total shareholder's equity | 9,801 | 8,919 |
Total liabilities and shareholder's equity | $ 24,531 | $ 22,711 |
Consolidated Balance Sheets - N
Consolidated Balance Sheets - NPC - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Inventories | 1,122 | 1,168 |
Regulatory assets | 544 | 283 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Finance lease right of use assets, net | 448 | 501 |
Regulatory assets | 3,419 | 3,157 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Short-term debt | 2,009 | 2,286 |
Regulatory liabilities | 254 | 254 |
Asset retirement obligation | 130 | 184 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,374 | 6,377 |
Retained earnings | 40,754 | 35,093 |
Accumulated other comprehensive loss, net | (1,340) | (1,552) |
Total shareholder's equity | 46,694 | 43,010 |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
NPC | ||
Current assets: | ||
Cash and cash equivalents | 33 | 25 |
Trade receivables, net | 227 | 234 |
Inventories | 64 | 69 |
Derivative contracts | 4 | 26 |
Regulatory assets | 291 | 48 |
Prepayments | 33 | 38 |
Other current assets | 49 | 26 |
Total current assets | 701 | 466 |
Property, plant and equipment, net | 6,891 | 6,701 |
Finance lease right of use assets, net | 326 | 351 |
Regulatory assets | 728 | 746 |
Other assets | 106 | 72 |
Total assets | 8,752 | 8,336 |
Current liabilities: | ||
Accounts payable | 242 | 181 |
Accrued interest | 32 | 32 |
Accrued property, income and other taxes | 29 | 25 |
Short-term debt | 180 | 0 |
Current portion of finance lease obligations | 26 | 27 |
Regulatory liabilities | 49 | 50 |
Customer deposits | 44 | 47 |
Asset retirement obligation | 19 | 25 |
Derivative contracts | 55 | 4 |
Other current liabilities | 17 | 18 |
Total current liabilities | 693 | 409 |
Long-term debt | 2,499 | 2,496 |
Finance lease obligations | 310 | 334 |
Regulatory liabilities | 1,100 | 1,163 |
Deferred income taxes | 782 | 738 |
Other long-term liabilities | 338 | 257 |
Total liabilities | 5,722 | 5,397 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 2,308 | 2,308 |
Retained earnings | 724 | 634 |
Accumulated other comprehensive loss, net | (2) | (3) |
Total shareholder's equity | 3,030 | 2,939 |
Total liabilities and shareholder's equity | $ 8,752 | $ 8,336 |
Consolidated Balance Sheets -_3
Consolidated Balance Sheets - NPC (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Inventories | 1,122 | 1,168 |
Regulatory assets | 544 | 283 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Regulatory assets | 3,419 | 3,157 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Short-term debt | 2,009 | 2,286 |
Regulatory liabilities | 254 | 254 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Deferred income taxes | 12,938 | 11,775 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 6,374 | 6,377 |
Retained earnings | 40,754 | 35,093 |
Accumulated other comprehensive loss, net | (1,340) | (1,552) |
Total shareholder's equity | 46,694 | 43,010 |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
SPPC | ||
Current assets: | ||
Cash and cash equivalents | 10 | 19 |
Trade receivables, net | 128 | 97 |
Inventories | 65 | 77 |
Regulatory assets | 177 | 67 |
Other current assets | 35 | 45 |
Total current assets | 415 | 305 |
Property, plant and equipment, net | 3,340 | 3,164 |
Regulatory assets | 263 | 267 |
Other assets | 205 | 183 |
Total assets | 4,223 | 3,919 |
Current liabilities: | ||
Accounts payable | 147 | 108 |
Accrued interest | 14 | 14 |
Accrued property, income and other taxes | 16 | 14 |
Short-term debt | 159 | 45 |
Regulatory liabilities | 19 | 34 |
Customer deposits | 15 | 15 |
Other current liabilities | 44 | 25 |
Total current liabilities | 414 | 255 |
Long-term debt | 1,164 | 1,164 |
Finance lease obligations | 106 | 121 |
Regulatory liabilities | 444 | 463 |
Deferred income taxes | 402 | 374 |
Other long-term liabilities | 158 | 131 |
Total liabilities | 2,688 | 2,508 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 0 | 0 |
Additional paid-in capital | 1,111 | 1,111 |
Retained earnings | 425 | 301 |
Accumulated other comprehensive loss, net | (1) | (1) |
Total shareholder's equity | 1,535 | 1,411 |
Total liabilities and shareholder's equity | $ 4,223 | $ 3,919 |
Consolidated Balance Sheets -SP
Consolidated Balance Sheets -SPPC (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,096 | $ 1,290 |
Restricted cash and cash equivalents | 127 | 140 |
Trade receivables, net | 2,468 | 2,107 |
Inventories | 1,122 | 1,168 |
Other current assets | 1,628 | 2,458 |
Total current assets | 8,248 | 9,447 |
Property, plant and equipment, net | 89,816 | 86,128 |
Goodwill | 11,650 | 11,506 |
Investments | 15,788 | 14,320 |
Other assets | 3,144 | 2,758 |
Total assets | 132,065 | 127,316 |
Current liabilities: | ||
Accounts payable | 2,136 | 1,867 |
Accrued interest | 537 | 555 |
Accrued property, income and other taxes | 606 | 582 |
Accrued employee expenses | 372 | 383 |
Regulatory liabilities | 254 | 254 |
Asset retirement obligation | 130 | 184 |
Current portion of long-term debt | 1,265 | 1,839 |
Other current liabilities | 1,837 | 1,626 |
Total current liabilities | 8,762 | 9,138 |
Regulatory liabilities | 6,960 | 7,221 |
Other long-term liabilities | 4,319 | 4,178 |
Total liabilities | 81,476 | 80,339 |
Commitments and contingencies | ||
Member's equity: | ||
Accumulated other comprehensive loss, net | (1,340) | (1,552) |
Total liabilities and shareholder's equity | 132,065 | 127,316 |
EEGH | ||
Current assets: | ||
Cash and cash equivalents | 22 | 35 |
Restricted cash and cash equivalents | 17 | 13 |
Trade receivables, net | 183 | 177 |
Receivables from affiliates | 54 | 139 |
Other receivables | 9 | 51 |
Inventories | 122 | 119 |
Prepayments | 76 | 60 |
Regulatory assets | 100 | 26 |
Other current assets | 38 | 36 |
Total current assets | 621 | 656 |
Property, plant and equipment, net | 10,200 | 10,144 |
Goodwill | 1,286 | 1,286 |
Investments | 412 | 244 |
Other assets | 129 | 291 |
Total assets | 12,648 | 12,621 |
Current liabilities: | ||
Accounts payable | 79 | 71 |
Accounts payable to affiliates | 38 | 39 |
Accrued interest | 19 | 19 |
Accrued property, income and other taxes | 89 | 29 |
Accrued employee expenses | 13 | 23 |
Notes payable to affiliates | 0 | 9 |
Regulatory liabilities | 40 | 40 |
Asset retirement obligation | 33 | 36 |
Current portion of long-term debt | 0 | 500 |
Other current liabilities | 54 | 48 |
Total current liabilities | 365 | 814 |
Long-term debt | 3,906 | 3,925 |
Regulatory liabilities | 645 | 669 |
Other long-term liabilities | 238 | 218 |
Total liabilities | 5,154 | 5,626 |
Commitments and contingencies | ||
Member's equity: | ||
Members' Capital | 3,501 | 2,957 |
Accumulated other comprehensive loss, net | (43) | (53) |
Total members' equity | 3,458 | 2,904 |
Noncontrolling interests | 4,036 | 4,091 |
Total equity | 7,494 | 6,995 |
Total liabilities and shareholder's equity | $ 12,648 | $ 12,621 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating revenue: | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Energy: | |||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Operations and maintenance | 3,991 | 3,545 | 3,318 |
Depreciation and amortization | 3,829 | 3,410 | 2,965 |
Property and other taxes | 789 | 634 | 574 |
Real estate | 5,710 | 4,885 | 4,251 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Capitalized interest | 64 | 80 | 77 |
Allowance for equity funds | 126 | 165 | 173 |
Interest and dividend income | 89 | 71 | 117 |
Gains (losses) on marketable securities, net | 1,823 | 4,797 | (288) |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Equity income (loss) | (237) | (149) | (44) |
Net income | 6,189 | 7,014 | 2,968 |
Net income attributable to noncontrolling interests | 399 | 71 | 18 |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
Preferred dividends | 121 | 26 | 0 |
Earnings on common shares | 5,669 | 6,917 | 2,950 |
Energy | |||
Operating revenue: | |||
Total operating revenue | 18,935 | 15,556 | 15,371 |
Real estate | |||
Operating revenue: | |||
Total operating revenue | $ 6,215 | $ 5,396 | $ 4,473 |
Consolidated Statements of Op_2
Consolidated Statements of Operations - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Operating expenses: | |||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Allowance for borrowed funds | 64 | 80 | 77 |
Allowance for equity funds | 126 | 165 | 173 |
Interest and dividend income | 89 | 71 | 117 |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
PAC | |||
Revenues | 5,296 | 5,341 | 5,068 |
Operating expenses: | |||
Cost of fuel and energy | 1,831 | 1,790 | 1,795 |
Operations and maintenance | 1,031 | 1,209 | 1,048 |
Depreciation and amortization | 1,088 | 1,209 | 954 |
Property and other taxes | 213 | 209 | 199 |
Total operating expenses | 4,163 | 4,417 | 3,996 |
Operating income | 1,133 | 924 | 1,072 |
Other income (expense): | |||
Interest expense | (430) | (426) | (401) |
Allowance for borrowed funds | 24 | 48 | 36 |
Allowance for equity funds | 50 | 98 | 72 |
Interest and dividend income | 24 | 10 | 21 |
Other, net | 8 | 10 | 32 |
Total other income (expense) | (324) | (260) | (240) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 809 | 664 | 832 |
Income tax (benefit) expense | (79) | (75) | 61 |
Net income (loss) attributable to parent | $ 888 | $ 739 | $ 771 |
Statements of Operations - MEC
Statements of Operations - MEC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating revenue: | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Operating expenses: | |||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Allowance for equity funds | 126 | 165 | 173 |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
MEC | |||
Operating revenue: | |||
Total operating revenue | 3,547 | 2,720 | 2,925 |
Operating expenses: | |||
Operations and maintenance | 775 | 754 | 800 |
Depreciation and amortization | 914 | 716 | 639 |
Property and other taxes | 142 | 135 | 126 |
Total operating expenses | 3,131 | 2,272 | 2,377 |
Operating income | 416 | 448 | 548 |
Other income (expense): | |||
Interest expense | (302) | (304) | (281) |
Allowance for borrowed funds | 13 | 15 | 27 |
Allowance for equity funds | 39 | 45 | 78 |
Other, net | 53 | 52 | 50 |
Total other income (expense) | (197) | (192) | (126) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 219 | 256 | 422 |
Income tax (benefit) expense | (675) | (570) | (371) |
Net income (loss) attributable to parent | 894 | 826 | 793 |
Regulated electric | MEC | |||
Operating revenue: | |||
Total operating revenue | 2,529 | 2,139 | 2,237 |
Operating expenses: | |||
Cost of fuel and energy | 539 | 339 | 399 |
Regulated natural gas and other | MEC | |||
Operating revenue: | |||
Total operating revenue | 1,018 | 581 | 688 |
Operating expenses: | |||
Cost of fuel and energy | $ 761 | $ 328 | $ 413 |
Consolidated Statements of Op_3
Consolidated Statements of Operations - MidAmerican Funding LLC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating revenue: | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Operating expenses: | |||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Allowance for equity funds | 126 | 165 | 173 |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 3,547 | 2,728 | 2,927 |
Operating expenses: | |||
Operations and maintenance | 775 | 755 | 801 |
Depreciation and amortization | 914 | 716 | 639 |
Property and other taxes | 142 | 135 | 127 |
Total operating expenses | 3,131 | 2,274 | 2,378 |
Operating income | 416 | 454 | 549 |
Other income (expense): | |||
Interest expense | (319) | (322) | (302) |
Allowance for borrowed funds | 13 | 15 | 27 |
Allowance for equity funds | 39 | 45 | 78 |
Other, net | 54 | 52 | 52 |
Total other income (expense) | (213) | (210) | (145) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 203 | 244 | 404 |
Income tax (benefit) expense | (680) | (574) | (377) |
Net income (loss) attributable to parent | 883 | 818 | 781 |
Regulated electric | MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 2,529 | 2,139 | 2,237 |
Operating expenses: | |||
Cost of fuel and energy | 539 | 339 | 399 |
Regulated natural gas and other | MidAmerican Funding, LLC | |||
Operating revenue: | |||
Total operating revenue | 1,018 | 589 | 690 |
Operating expenses: | |||
Cost of fuel and energy | $ 761 | $ 329 | $ 412 |
Consolidated Statements of Op_4
Consolidated Statements of Operations - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Operating expenses: | |||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Allowance for borrowed funds | 64 | 80 | 77 |
Allowance for equity funds | 126 | 165 | 173 |
Interest and dividend income | 89 | 71 | 117 |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
NPC | |||
Revenues | 2,139 | 1,998 | 2,148 |
Operating expenses: | |||
Cost of fuel and energy | 939 | 816 | 943 |
Operations and maintenance | 301 | 299 | 324 |
Depreciation and amortization | 406 | 361 | 357 |
Property and other taxes | 48 | 47 | 45 |
Total operating expenses | 1,694 | 1,523 | 1,669 |
Operating income | 445 | 475 | 479 |
Other income (expense): | |||
Interest expense | (153) | (162) | (171) |
Allowance for borrowed funds | 3 | 3 | 3 |
Allowance for equity funds | 7 | 7 | 5 |
Interest and dividend income | 20 | 10 | 13 |
Other, net | 18 | 9 | 8 |
Total other income (expense) | (105) | (133) | (142) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 340 | 342 | 337 |
Income tax (benefit) expense | 37 | 47 | 73 |
Net income (loss) attributable to parent | $ 303 | $ 295 | $ 264 |
Consolidated Statements of Op_5
Consolidated Statements of Operations - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Cost of fuel and energy | 5,504 | 4,187 | 4,586 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Interest expense | (2,118) | (2,021) | (1,912) |
Allowance for equity funds | 126 | 165 | 173 |
Interest and dividend income | 89 | 71 | 117 |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
SPPC | |||
Total operating revenue | 965 | 854 | 889 |
Operations and maintenance | 163 | 162 | 172 |
Depreciation and amortization | 143 | 141 | 125 |
Property and other taxes | 24 | 23 | 22 |
Total operating expenses | 798 | 689 | 718 |
Operating income | 167 | 165 | 171 |
Interest expense | (54) | (56) | (48) |
Allowance for borrowed funds | 2 | 2 | 1 |
Allowance for equity funds | 7 | 4 | 3 |
Interest and dividend income | 9 | 4 | 3 |
Other, net | 11 | 7 | 1 |
Total other income (expense) | (25) | (39) | (40) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 142 | 126 | 131 |
Income tax (benefit) expense | 18 | 15 | 28 |
Net income (loss) attributable to parent | 124 | 111 | 103 |
SPPC | Regulated electric | |||
Total operating revenue | 848 | 738 | 770 |
Cost of fuel and energy | 407 | 301 | 337 |
SPPC | Regulated natural gas | |||
Total operating revenue | 117 | 116 | 119 |
Cost of fuel and energy | $ 61 | $ 62 | $ 62 |
Consolidated Statements of Op_6
Consolidated Statements of Operations - EEGH - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 | |
Operating expenses: | ||||
Cost of fuel and energy | 5,504 | 4,187 | 4,586 | |
Total operating expenses | 19,823 | 16,661 | 15,694 | |
Operating income | 5,327 | 4,291 | 4,150 | |
Other income (expense): | ||||
Interest expense | (2,118) | (2,021) | (1,912) | |
Allowance for equity funds | 126 | 165 | 173 | |
Interest and dividend income | 89 | 71 | 117 | |
Other, net | (17) | 88 | 97 | |
Total other income (expense) | (33) | 3,180 | (1,736) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 | |
Income tax (benefit) expense | (1,132) | 308 | (598) | |
Equity income | (237) | (149) | (44) | |
Net income | 6,189 | 7,014 | 2,968 | |
Net income attributable to noncontrolling interests | 399 | 71 | 18 | |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 | |
EEGH | ||||
Revenues | 1,870 | 2,090 | 2,169 | |
Operating expenses: | ||||
Cost of fuel and energy | 12 | 24 | 9 | |
Operations and maintenance | 515 | 1,142 | 748 | |
Depreciation and amortization | 328 | 366 | 367 | |
Property and other taxes | 149 | 140 | 141 | |
Total operating expenses | 1,004 | 1,672 | 1,265 | |
Operating income | 866 | 418 | 904 | |
Other income (expense): | ||||
Interest expense | (151) | (339) | (324) | |
Allowance for borrowed funds | 2 | 6 | 13 | |
Allowance for equity funds | 7 | 13 | 18 | |
Interest and dividend income | 0 | 67 | 105 | |
Other, net | 1 | 42 | 43 | |
Total other income (expense) | (141) | (211) | (145) | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 725 | 207 | 759 | |
Income tax (benefit) expense | 117 | (24) | 101 | |
Equity income | 44 | 42 | 43 | |
Net income from continuing operations | 652 | 273 | 701 | |
Net income from discontinued operations | [1] | 0 | 0 | 141 |
Net income | 652 | 273 | 842 | |
Net income attributable to noncontrolling interests | 390 | 164 | 121 | |
Net income (loss) attributable to parent | $ 262 | $ 109 | $ 721 | |
[1] | Includes income tax expense of $33Â million for the year ended December 31, 2019. |
Consolidated Statements of Op_7
Consolidated Statements of Operations - EEGH (Parenthetical) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
EEGH | |
Income tax expense, discontinued operations | $ 33 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 6,189 | $ 7,014 | $ 2,968 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 174 | (65) | (59) |
Foreign currency translation adjustment | (24) | 234 | 327 |
Unrealized gains (losses) on cash flow hedges, net of tax | 67 | (15) | (29) |
Total other comprehensive (loss) income, net of tax | 217 | 154 | 239 |
Comprehensive income | 6,406 | 7,168 | 3,207 |
Comprehensive income attributable to noncontrolling interests | 404 | 71 | 18 |
Comprehensive income (loss) attributable to parent | $ 6,002 | $ 7,097 | $ 3,189 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Unrecognized amounts on retirement benefits, tax | $ 55 | $ (19) | $ (15) |
Unrealized gains (losses) on cash flow hedges, tax | 10 | (3) | (8) |
PAC | |||
Unrecognized amounts on retirement benefits, tax | 1 | (1) | (1) |
EEGH | |||
Unrecognized amounts on retirement benefits, tax | 0 | 40 | 15 |
Unrealized gains (losses) on cash flow hedges, tax | $ 1 | $ 10 | $ (20) |
Consolidated Statements of Co_3
Consolidated Statements of Comprehensive Income - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 174 | (65) | (59) |
Comprehensive income (loss) attributable to parent | 6,002 | 7,097 | 3,189 |
PAC | |||
Net income attributable to parent | 888 | 739 | 771 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 2 | (3) | (3) |
Comprehensive income (loss) attributable to parent | $ 890 | $ 736 | $ 768 |
Consolidated Statements of Co_4
Consolidated Statements of Comprehensive Income - EEGH - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 6,189 | $ 7,014 | $ 2,968 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 174 | (65) | (59) |
Unrealized gains (losses) on cash flow hedges, net of tax | 67 | (15) | (29) |
Total other comprehensive (loss) income, net of tax | 217 | 154 | 239 |
Comprehensive income | 6,406 | 7,168 | 3,207 |
Comprehensive income attributable to noncontrolling interests | 404 | 71 | 18 |
Comprehensive income (loss) attributable to parent | 6,002 | 7,097 | 3,189 |
EEGH | |||
Net income | 652 | 273 | 842 |
Other comprehensive (loss) income, net of tax: | |||
Unrecognized amounts on retirement benefits, net of tax | 6 | 94 | 38 |
Unrealized gains (losses) on cash flow hedges, net of tax | 9 | 30 | (56) |
Total other comprehensive (loss) income, net of tax | 15 | 124 | (18) |
Comprehensive income | 667 | 397 | 824 |
Comprehensive income attributable to noncontrolling interests | 395 | 154 | 120 |
Comprehensive income (loss) attributable to parent | $ 272 | $ 243 | $ 704 |
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, 2018 | $ 29,723 | $ 0 | $ 0 | $ 6,371 | $ (457) | $ 25,624 | $ (1,945) | $ 130 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net Income | 2,968 | 2,950 | 18 | |||||
Other comprehensive income | 239 | 239 | 0 | |||||
Long-term income tax receivable adjustments | (40) | 33 | (73) | |||||
Preferred stock dividend | 0 | |||||||
Common stock purchases | (293) | (15) | (278) | |||||
Distributions | (22) | (22) | ||||||
Other equity transactions | 3 | 3 | ||||||
Ending 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 | 154 | 154 | 0 | |||||
Long-term income tax receivable adjustments | (128) | (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 | 217 | 212 | 5 | |||||
Preferred stock redemptions | (2,100) | (2,100) | ||||||
Long-term income tax receivable adjustments | (94) | (86) | (8) | |||||
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 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity - PAC - USD ($) $ in Millions | Total | Accumulated Other Comprehensive Income (Loss) | PAC | PACPreferred Stock | PACCommon Stock | PACAdditional Paid-in Capital | PACRetained Earnings | PACAccumulated Other Comprehensive Income (Loss) |
Balance at Dec. 31, 2018 | $ 7,845 | $ 2 | $ 0 | $ 4,479 | $ 3,377 | $ (13) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to parent | $ 2,950 | 771 | 771 | |||||
Other comprehensive income | 239 | $ 239 | (4) | (1) | (3) | |||
Dividends declared | (175) | (175) | ||||||
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 | 154 | 154 | (3) | (3) | ||||
Balance at Dec. 31, 2020 | 43,010 | 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 | 217 | $ 212 | 2 | 2 | ||||
Dividends declared | (150) | (150) | ||||||
Balance at Dec. 31, 2021 | $ 46,694 | $ 9,913 | $ 2 | $ 0 | $ 4,479 | $ 5,449 | $ (17) |
Statements of Changes in Shareh
Statements of Changes in Shareholder's Equity - MEC - USD ($) $ in Millions | Total | Additional Paid-in Capital | MEC | MECCommon Stock | MECAdditional Paid-in Capital | MECRetained Earnings |
Balance at Dec. 31, 2018 | $ 6,446 | $ 0 | $ 561 | $ 5,885 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income attributable to parent | $ 2,950 | 793 | 793 | |||
Other equity transactions | 3 | 1 | 1 | |||
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 | 43,010 | 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 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Member's Equity - MidAmerican Funding LLC - USD ($) $ in Millions | Total | Additional Paid-in Capital | MidAmerican Funding, LLC | MidAmerican Funding, LLCAdditional Paid-in Capital | MidAmerican Funding, LLCRetained Earnings |
Balance at Dec. 31, 2018 | $ 7,329 | $ 1,679 | $ 5,650 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income attributable to parent | $ 2,950 | 781 | 781 | ||
Distribution to member | (8) | (8) | |||
Other equity transactions | 3 | (1) | (1) | ||
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 | 43,010 | 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 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Equity - NPC - USD ($) $ in Millions | Total | Additional Paid-in Capital | NPC | NPCCommon Stock | NPCAdditional Paid-in Capital | NPCRetained Earnings | NPCAccumulated Other Comprehensive Income (Loss) |
Balance (shares) at Dec. 31, 2018 | 1,000 | ||||||
Balance at Dec. 31, 2018 | $ 2,904 | $ 0 | $ 2,308 | $ 600 | $ (4) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | $ 2,950 | 264 | 264 | ||||
Dividends declared | (371) | (371) | |||||
Other equity transactions | 3 | ||||||
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 | 76,000,000 | 1,000 | 1,000 | ||||
Balance at Dec. 31, 2020 | $ 43,010 | $ 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) |
Consolidated Statements of Ch_5
Consolidated Statements of Changes in Equity - SPPC - USD ($) $ in Millions | Total | Additional Paid-in Capital | SPPC | SPPCCommon Stock | SPPCAdditional Paid-in Capital | SPPCRetained Earnings | SPPCAccumulated Other Comprehensive Income (Loss) |
Balance (shares) at Dec. 31, 2018 | 1,000 | ||||||
Balance at Dec. 31, 2018 | $ 1,264 | $ 0 | $ 1,111 | $ 153 | $ 0 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | $ 2,950 | 103 | 103 | ||||
Dividends declared | (46) | (46) | |||||
Other equity transactions | 3 | (1) | (1) | ||||
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) | |||||
Other equity transactions | $ 0 | $ (1) | |||||
Balance (shares) at Dec. 31, 2020 | 76,000,000 | 1,000 | 1,000 | ||||
Balance at Dec. 31, 2020 | $ 43,010 | $ 1,411 | $ 0 | 1,111 | 301 | (1) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income attributable to parent | 5,790 | $ 124 | 124 | ||||
Other equity transactions | $ (1) | ||||||
Balance (shares) at Dec. 31, 2021 | 76,000,000 | 1,000 | 1,000 | ||||
Balance at Dec. 31, 2021 | $ 46,694 | $ 1,535 | $ 0 | $ 1,111 | $ 425 | $ (1) |
Consolidated Statements of Ch_6
Consolidated Statements of Changes in Equity - EEGH - USD ($) $ in Millions | Total | EEGH | Predecessor EquityEEGH | Member InterestsEEGH | Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss)EEGH | Noncontrolling Interest | Noncontrolling InterestEEGH |
Beginning balance at Dec. 31, 2018 | $ 29,723 | $ 8,865 | $ 1,804 | $ 4,566 | $ (1,945) | $ (169) | $ 130 | $ 2,664 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 2,968 | 842 | 232 | 489 | 121 | |||
Other comprehensive income | 239 | (18) | 239 | (17) | 0 | (1) | ||
Contributions | 3,385 | 3,385 | ||||||
Distributions | (22) | (636) | (457) | (22) | (179) | |||
Purchase of noncontrolling interest | (40) | 1,181 | (1,221) | |||||
Dominion Energy Gas Restructuring | (2,168) | (6,145) | 3,978 | (1) | ||||
Other equity transactions | 3 | (1) | (2) | 3 | 1 | |||
Ending balance at Dec. 31, 2019 | 32,578 | 10,229 | $ 0 | 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 | 154 | 124 | 154 | 134 | 0 | (10) | ||
Contributions | 1,223 | 1,223 | ||||||
Distributions | (121) | (4,498) | (4,282) | (121) | (216) | |||
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 | 217 | 15 | 212 | 10 | 5 | 5 | ||
Contributions | 9 | 419 | 419 | 9 | ||||
Distributions | (478) | (587) | (137) | (478) | (450) | |||
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 |
Consolidated Statements of Ch_7
Consolidated Statements of Changes in Equity - EEGH (Parenthetical) | Nov. 06, 2019 | Nov. 30, 2020 | Dec. 31, 2021 |
Cove Point LNG, LP | Dominion Energy, Inc. | |||
Ownership interest | 25.00% | 50.00% | 50.00% |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income | $ 6,189 | $ 7,014 | $ 2,968 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
(Gains) losses on marketable securities, net | (1,823) | (4,797) | 288 |
Losses on other items, net | 112 | 54 | 43 |
Depreciation and amortization | 3,881 | 3,455 | 3,011 |
Allowance for equity funds | (126) | (165) | (173) |
Equity loss, net of distributions | 380 | 248 | 93 |
Changes in regulatory assets and liabilities | (668) | (415) | 153 |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Derivative collateral, net | 82 | 43 | (25) |
Pension and other postretirement benefit plans | (39) | (65) | (51) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Acquisitions, net of cash acquired | (122) | (2,397) | (27) |
Purchases of marketable securities | (297) | (370) | (262) |
Proceeds from sales of marketable securities | 273 | 325 | 238 |
Purchases of other investments | (20) | (1,323) | 0 |
Proceeds from other investments | 1,300 | 13 | 18 |
Equity method investments | (212) | (2,724) | (1,617) |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 3,750 | 0 |
Preferred stock redemptions | (2,100) | 0 | 0 |
Preferred dividends | (132) | (7) | 0 |
Common stock purchases | 0 | (126) | (293) |
Proceeds from BHE senior debt | 0 | 5,212 | 0 |
Repayments of BHE senior debt | (450) | (350) | 0 |
Proceeds from subsidiary debt | 2,409 | 2,688 | 4,699 |
Repayments of subsidiary debt | (2,024) | (2,841) | (1,914) |
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Purchase of noncontrolling interest | 0 | (33) | 0 |
Distributions to noncontrolling interests | (488) | (122) | (23) |
Contributions from noncontrolling interests | 9 | 5 | 8 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Effect of exchange rate changes | 1 | 15 | 18 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 1,244 | $ 1,445 | $ 1,268 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (126) | (165) | (173) |
Changes in regulatory assets and liabilities | (668) | (415) | 153 |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Derivative collateral, net | 82 | 43 | (25) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
PAC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 888 | 739 | 771 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 1,088 | 1,209 | 954 |
Allowance for equity funds | (50) | (98) | (72) |
Changes in regulatory assets and liabilities | (189) | (229) | (55) |
Deferred income taxes and investment tax credits, net | 64 | (124) | (131) |
Other, net | (5) | 1 | 20 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 15 | (154) | 26 |
Inventories | 8 | (88) | 23 |
Prepaid expenses | 2 | (15) | (12) |
Derivative collateral, net | 19 | 23 | 12 |
Accrued property, income and other taxes, net | (37) | (53) | 22 |
Accounts payable and other liabilities | 1 | 372 | (11) |
Net cash flows from operating activities | 1,804 | 1,583 | 1,547 |
Cash flows from investing activities: | |||
Capital expenditures | (1,513) | (2,540) | (2,175) |
Other, net | 12 | 30 | 11 |
Net cash flows from investing activities | (1,501) | (2,510) | (2,164) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 984 | 987 | 989 |
Repayments of long-term debt | (870) | (38) | (350) |
Net (repayments of) proceeds from short-term debt | (93) | (37) | 100 |
Dividends paid | (150) | 0 | (175) |
Other, net | (7) | (2) | (3) |
Net cash flows from financing activities | (136) | 910 | 561 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 167 | (17) | (56) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 19 | 36 | 92 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 186 | $ 19 | $ 36 |
Statements of Cash Flows - MEC
Statements of Cash Flows - MEC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (126) | (165) | (173) |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Pension and other postretirement benefit plans | (39) | (65) | (51) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Purchases of marketable securities | (297) | (370) | (262) |
Proceeds from sales of marketable securities | 273 | 325 | 238 |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
MEC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 894 | 826 | 793 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 914 | 716 | 639 |
Amortization of utility plant to other operating expenses | 34 | 34 | 33 |
Allowance for equity funds | (39) | (45) | (78) |
Deferred income taxes and investment tax credits, net | 153 | 208 | 154 |
Settlements of asset retirement obligations | (103) | (124) | (14) |
Other, net | 21 | (18) | 4 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (293) | 48 | 60 |
Inventories | 44 | (52) | (22) |
Pension and other postretirement benefit plans | (4) | (19) | (10) |
Accrued property, income and other taxes, net | (71) | (64) | (76) |
Accounts payable and other liabilities | 67 | 33 | 7 |
Net cash flows from operating activities | 1,617 | 1,543 | 1,490 |
Cash flows from investing activities: | |||
Capital expenditures | (1,912) | (1,836) | (2,810) |
Purchases of marketable securities | (213) | (281) | (156) |
Proceeds from sales of marketable securities | 207 | 269 | 138 |
Proceeds from sales of other investments | 0 | 2 | 1 |
Other investment proceeds | 1 | 9 | 13 |
Other, net | 6 | 11 | 13 |
Net cash flows from investing activities | (1,911) | (1,826) | (2,801) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 492 | 0 | 2,326 |
Repayments of long-term debt | (1) | 0 | (500) |
Net (repayments of) proceeds from short-term debt | 0 | 0 | (240) |
Other, net | (3) | (2) | (1) |
Net cash flows from financing activities | 488 | (2) | 1,585 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 194 | (285) | 274 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 45 | 330 | 56 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 239 | $ 45 | $ 330 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows - MidAmerican Funding LLC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (126) | (165) | (173) |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Pension and other postretirement benefit plans | (39) | (65) | (51) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Purchases of marketable securities | (297) | (370) | (262) |
Proceeds from sales of marketable securities | 273 | 325 | 238 |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
MidAmerican Funding, LLC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 883 | 818 | 781 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 914 | 716 | 639 |
Amortization of utility plant to other operating expenses | 34 | 34 | 33 |
Allowance for equity funds | (39) | (45) | (78) |
Deferred income taxes and investment tax credits, net | 153 | 211 | 152 |
Settlements of asset retirement obligations | (103) | (124) | (14) |
Other, net | 21 | (17) | 5 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (293) | 48 | 56 |
Inventories | 44 | (52) | (22) |
Pension and other postretirement benefit plans | (4) | (19) | (10) |
Accrued property, income and other taxes, net | (71) | (66) | (74) |
Accounts payable and other liabilities | 66 | 32 | 7 |
Net cash flows from operating activities | 1,605 | 1,536 | 1,475 |
Cash flows from investing activities: | |||
Capital expenditures | (1,912) | (1,836) | (2,810) |
Purchases of marketable securities | (213) | (281) | (156) |
Proceeds from sales of marketable securities | 207 | 269 | 138 |
Proceeds from sales of other investments | 0 | 3 | 1 |
Other investment proceeds | 1 | 9 | 13 |
Other, net | 5 | 11 | 13 |
Net cash flows from investing activities | (1,912) | (1,825) | (2,801) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 492 | 0 | 2,326 |
Repayments of long-term debt | (1) | 0 | (500) |
Net change in note payable to affiliate | 12 | 5 | 15 |
Net (repayments of) proceeds from short-term debt | 0 | 0 | (240) |
Other, net | (2) | (1) | (1) |
Net cash flows from financing activities | 501 | 4 | 1,600 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 194 | (285) | 274 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 46 | 331 | 57 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 240 | $ 46 | $ 331 |
Consolidated Statements of Ca_4
Consolidated Statements of Cash Flows - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (126) | (165) | (173) |
Changes in regulatory assets and liabilities | (668) | (415) | 153 |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
NPC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 303 | 295 | 264 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 406 | 361 | 357 |
Allowance for equity funds | (7) | (7) | (5) |
Changes in regulatory assets and liabilities | (19) | (42) | 27 |
Deferred income taxes and investment tax credits, net | 0 | (10) | (32) |
Deferred energy | (245) | (44) | 51 |
Amortization of deferred energy | 11 | (41) | 43 |
Other, net | 0 | 2 | (5) |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 6 | 45 | 19 |
Inventories | 5 | (7) | 1 |
Accrued property, income and other taxes, net | (18) | 5 | (13) |
Accounts payable and other liabilities | 63 | (90) | (6) |
Net cash flows from operating activities | 505 | 467 | 701 |
Cash flows from investing activities: | |||
Capital expenditures | (449) | (455) | (409) |
Proceeds from sale of assets | 0 | 26 | 2 |
Other, net | 2 | 0 | 0 |
Net cash flows from investing activities | (447) | (429) | (407) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 718 | 495 |
Repayments of long-term debt | 0 | (575) | (500) |
Net (repayments of) proceeds from short-term debt | 180 | 0 | 0 |
Dividends paid | (213) | (155) | (371) |
Other, net | (16) | (15) | (14) |
Net cash flows from financing activities | (49) | (27) | (390) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | 9 | 11 | (96) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 36 | 25 | 121 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 45 | $ 36 | $ 25 |
Consolidated Statements of Ca_5
Consolidated Statements of Cash Flows - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income attributable to parent | $ 5,790 | $ 6,943 | $ 2,950 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Allowance for equity funds | (126) | (165) | (173) |
Changes in regulatory assets and liabilities | (668) | (415) | 153 |
Deferred income taxes and investment tax credits, net | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Accrued property, income and other taxes, net | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
SPPC | |||
Cash flows from operating activities: | |||
Net income attributable to parent | 124 | 111 | 103 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation and amortization | 143 | 141 | 125 |
Allowance for equity funds | (7) | (4) | (3) |
Changes in regulatory assets and liabilities | (39) | (33) | 25 |
Deferred income taxes and investment tax credits, net | 13 | 12 | 9 |
Deferred energy | (116) | (17) | 15 |
Amortization of deferred energy | 29 | (14) | (2) |
Other, net | (1) | (2) | 0 |
Changes in other operating assets and liabilities, net of effects from acquisitions: | |||
Trade receivables and other assets | (27) | (81) | (6) |
Inventories | 12 | (19) | (5) |
Accrued property, income and other taxes, net | 9 | 9 | (16) |
Accounts payable and other liabilities | 43 | 87 | (8) |
Net cash flows from operating activities | 183 | 190 | 237 |
Cash flows from investing activities: | |||
Capital expenditures | (300) | (246) | (248) |
Other, net | 0 | 0 | 1 |
Net cash flows from investing activities | (300) | (246) | (247) |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 30 | 125 |
Repayments of long-term debt | 0 | 0 | (109) |
Net proceeds from short-term debt | 114 | 45 | 0 |
Dividends paid | 0 | (20) | (46) |
Other, net | (7) | (5) | (4) |
Net cash flows from financing activities | 107 | 50 | (34) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (10) | (6) | (44) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 26 | 32 | 76 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 16 | $ 26 | $ 32 |
Consolidated Statements of Ca_6
Consolidated Statements of Cash Flows - EEGH - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income | $ 6,189 | $ 7,014 | $ 2,968 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Losses on other items, net | 112 | 54 | 43 |
Depreciation and amortization | 3,881 | 3,455 | 3,011 |
Allowance for equity funds | (126) | (165) | (173) |
Equity loss, net of distributions | 380 | 248 | 93 |
Changes in regulatory assets and liabilities | (668) | (415) | 153 |
Deferred income taxes | 646 | 1,880 | 290 |
Other, net | (169) | (77) | 23 |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | 553 | (1,318) | (372) |
Derivative collateral, net | 82 | 43 | (25) |
Pension and other postretirement benefit plans | (39) | (65) | (51) |
Accrued property, income and other taxes | (489) | (134) | (16) |
Accounts payable and other liabilities | 163 | 501 | (26) |
Net cash flows from operating activities | 8,692 | 6,224 | 6,206 |
Cash flows from investing activities: | |||
Capital expenditures | (6,611) | (6,765) | (7,364) |
Equity method investments | (212) | (2,724) | (1,617) |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Distributions to noncontrolling interests | (488) | (122) | (23) |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
EEGH | |||
Cash flows from operating activities: | |||
Net income | 652 | 273 | 842 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Losses on other items, net | (3) | 531 | 21 |
Depreciation and amortization | 328 | 366 | 445 |
Allowance for equity funds | (7) | (13) | (18) |
Equity loss, net of distributions | 0 | 35 | 31 |
Changes in regulatory assets and liabilities | (20) | (37) | (74) |
Deferred income taxes | 186 | (5) | (3) |
Other, net | (19) | 23 | 61 |
Changes in other operating assets and liabilities: | |||
Trade receivables and other assets | 7 | 346 | 115 |
Derivative collateral, net | 10 | (140) | 7 |
Pension and other postretirement benefit plans | 0 | (88) | (139) |
Accrued property, income and other taxes | (30) | 23 | (53) |
Accounts payable and other liabilities | (12) | (40) | (173) |
Net cash flows from operating activities | 1,092 | 1,274 | 1,062 |
Cash flows from investing activities: | |||
Capital expenditures | (442) | (374) | (704) |
Loans to affiliates | (183) | 0 | (1,872) |
Repayment of loans by affiliates | 305 | 3,422 | 3,748 |
Equity method investments | (154) | (2) | (4) |
Other, net | (12) | 18 | (18) |
Net cash flows from investing activities | (486) | 3,064 | 1,150 |
Cash flows from financing activities: | |||
Proceeds from long-term debt | 0 | 0 | 1,895 |
Repayments of long-term debt | (500) | (700) | (4,141) |
Net (repayments of) proceeds from short-term debt | 0 | (62) | 52 |
Repayment of affiliated current borrowings, net | (9) | (251) | (2,837) |
Credit facility repayments | 0 | 0 | (73) |
Proceeds from equity contributions | 346 | 1,223 | 3,385 |
Distributions to parent | 0 | (4,323) | (457) |
Distributions to noncontrolling interests | (450) | (216) | (179) |
Other, net | (2) | 0 | (16) |
Net cash flows from financing activities | (615) | (4,329) | (2,371) |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (9) | 9 | (159) |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 48 | 39 | 198 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 39 | $ 48 | $ 39 |
Organization and Operations
Organization and Operations | 12 Months Ended |
Dec. 31, 2021 | |
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 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 ("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 ("BHE Canada") (which primarily consists of AltaLink, L.P. ("AltaLink")) and BHE U.S. Transmission, LLC), BHE Renewables, LLC ("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 United States 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 United States, an electric transmission business in Canada, interests in electric transmission businesses in the United States, a renewable energy business primarily investing in wind, solar, geothermal and hydroelectric projects, the largest residential real estate brokerage firm in the United States and one of the largest residential real estate brokerage franchise networks in the United States. |
PAC | |
Segment Reporting Information [Line Items] | |
Organization and Operations | Organization and Operations PacifiCorp, which includes PacifiCorp and its subsidiaries, is a United States 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 United States 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 United States 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 transportation pipeline and underground storage operations in the eastern region of the United States and operates Cove Point LNG, LP ("Cove Point"), a liquefied natural gas ("LNG") export, import and storage facility. Eastern Energy Gas owns 100% of the general partner interest and 25% of the limited partnership interest in Cove Point. In addition, Eastern Energy Gas owns a 50% noncontrolling interest in Iroquois Gas Transmission System, L.P. ("Iroquois"), a 416-mile FERC-regulated interstate natural gas transportation pipeline. 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. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
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 in 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 Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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. Restricted amounts are included in restricted cash and cash equivalents and investments and restricted cash and cash equivalents and investments on the Consolidated Balance Sheets. 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 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): 2021 2020 2019 Beginning balance $ 77 $ 44 $ 42 Charged to operating costs and expenses, net 81 56 47 Acquisitions — 5 — Write-offs, net (50) (28) (45) Ending balance $ 108 $ 77 $ 44 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 $296 million and $382 million as of December 31, 2021 and 2020, respectively, and materials and supplies totaling $826 million and $786 million as of December 31, 2021 and 2020, 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 $27 million and $10 million higher as of December 31, 2021 and 2020, 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 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 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. 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 2021, 2020 and 2019, 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, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $718 million and $750 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 United States 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 United States federal and Iowa state income tax returns and the majority of the Company's United States federal income tax is remitted to or received from Berkshire Hathaway. The Company records the deferred income tax assets associated with the state of Iowa net operating loss carryforward as a long-term income tax receivable from Berkshire Hathaway as a component of BHE's shareholders' equity due to the long-term related party nature of the income tax receivable. 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 generally 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, including those related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") 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 in 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 Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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. Restricted amounts are included in other current assets and other assets on the Consolidated Balance Sheets. 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, 2021 and 2020, 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 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): 2021 2020 2019 Beginning balance $ 17 $ 8 $ 8 Charged to operating costs and expenses, net 13 18 13 Write-offs, net (12) (9) (13) Ending balance $ 18 $ 17 $ 8 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 energy costs 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 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 PacifiCorp's regulated businesses 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, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $264 million and $254 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 United States 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 that are associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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, 2021, 2020 and 2019. 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 in 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 Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and investments and restricted investments on the Balance Sheets. 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): 2021 2020 2019 Beginning balance $ 12 $ 5 $ 7 Charged to operating costs and expenses, net 10 12 9 Write-offs, net (10) (5) (11) Ending balance $ 12 $ 12 $ 5 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 $135 million and $129 million as of December 31, 2021 and 2020, respectively, coal stocks, totaling $63 million and $119 million as of December 31, 2021 and 2020, respectively, and natural gas in storage, totaling $30 million and $26 million as of December 31, 2021 and 2020, 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 $27 million and $10 million higher as of December 31, 2021 and 2020, 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 utility plant, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or 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. The impacts of regulation are considered when evaluating the carrying value of regulated assets. For all other assets, 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, 2021 and 2020, unbilled revenue was $85 million and $95 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, 2021 and 2020, was $230 million and $22 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 United States 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 that are 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 generally deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. Investment tax credits are generally 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, 2021, 2020 and 2019. 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. 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 2021, 2020 and 2019, 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, 2021, 2020 and 2019. 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 in 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 Equivalents and Restricted Cash and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and other assets on the Consolidated Balance Sheets. 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): 2021 2020 2019 Beginning balance $ 19 $ 15 $ 16 Charged to operating costs and expenses, net 13 13 12 Write-offs, net (14) (9) (13) Ending balance $ 18 $ 19 $ 15 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 $64 million and $69 million as of December 31, 2021 and 2020. 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 2021 and 2020 was 7.14% and 7.43%, 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 of Long-Lived Assets 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 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 as of December 31, 2021, 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. Income Taxes Berkshire Hathaway includes Nevada Power in its consolidated United States 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 that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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 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, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $107 million and $104 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 $6 million and $8 million as of December 31, 2021 and 2020, 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 on a straight-line basis. 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 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, 2021, 2020 and 2019. 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 in 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 Equivalents and Restricted Cash and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and other assets on the Consolidated Balance Sheets. 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): 2021 2020 2019 Beginning balance $ 2 $ 2 $ 2 Charged to operating costs and expenses, net 2 2 1 Write-offs, net (3) (2) (1) Ending balance $ 1 $ 2 $ 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 $62 million and $67 million as of December 31, 2021 and 2020, respectively, and fuel, which includes coal stock, stored natural gas and fuel oil, totaling $3 million and $10 million as of December 31, 2021 and 2020, 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 2021 and 2020 was 6.75% for electric, 5.75% for natural gas and 6.65% 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 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 as of December 31, 2021, 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. Income Taxes Berkshire Hathaway includes Sierra Pacific in its consolidated United States 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 that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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 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, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $78 million and $59 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 on a straight-line basis. |
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. 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 in 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 Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in restricted cash and cash equivalents on the Consolidated Balance Sheets. 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 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 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 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 utilizes credit loss history. However, Eastern Energy Gas may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. 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): 2021 2020 2019 Beginning balance $ 5 $ 2 $ — Charged to operating costs and expenses, net 1 4 2 Write-offs, net — (1) — Ending balance $ 6 $ 5 $ 2 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 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; and other, net for interest rate swap derivatives. 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. 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 current assets 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. 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. Prior to the GT&S Transaction, Eastern Energy Gas evaluated goodwill for impairment as of April 1. As a result of the GT&S Transaction, Eastern Energy Gas now completes its annual reviews as of October 31 to align with BHE's policy. 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 2021, 2020 and 2019, 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 what Eastern Energy Gas has the right to invoice as it corresponds directly with the value to the customer of Eastern Energy Gas' performance to date and includes billed and unbilled amounts. As of December 31, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $36 million and $95 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 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 $19 million and $29 million as of December 31, 2021 and 2020, respectively, and $18 million and $19 million of contract liabilities as of December 31, 2021 and 2020, 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 United States federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes Eastern Energy Gas in its consolidated United States federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for income taxes has been computed on a stand-alone 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 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 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. |
Business Acquisitions
Business Acquisitions | 12 Months Ended |
Dec. 31, 2021 | |
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"), and assumed approximately $5.6 billion of existing indebtedness for borrowed money, including fair value adjustments, 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. The GT&S Transaction received clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Approval") in October 2020, and approval by the United States Department of Energy with respect to a change in control of Cove Point and the Federal Communications Commission with respect to the transfer of certain licenses earlier in 2020. 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") after receipt of HSR Approval 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, and the assumption of approximately $430 million of existing indebtedness for borrowed money. DEI was also a party to the Q-Pipe Purchase Agreement, as guarantor for certain provisions regarding the Purchase Price Repayment Amount (as defined below) and other matters. Under the Q-Pipe Purchase Agreement, BHE delivered the Q-Pipe Cash Consideration of approximately $1.3 billion, which was included in other current assets on the Consolidated Balance Sheet as of December 31, 2020, 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. 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, 2021 and 2020, is operating revenue of $2,159 million and $331 million, respectively, and net income attributable to BHE shareholders of $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. Allocation of Purchase Price BHE GT&S' assets acquired and liabilities assumed were measured at estimated fair value at closing. The majority of BHE GT&S' operations are subject to the rate-setting authority of the FERC and are accounted for pursuant to GAAP, including the authoritative guidance for regulated operations. The rate-setting and cost-recovery provisions provide for revenues derived from costs, including a return on investment of assets and liabilities included in rate base. As such, the fair value of BHE GT&S' assets acquired and liabilities assumed subject to these rate-setting provisions are assumed to approximate their carrying values and, therefore, no fair value adjustments have been reflected related to these amounts. The fair value of BHE GT&S' assets acquired and liabilities assumed not subject to the rate-setting provisions discussed above was determined using an income and cost approach. The income approach is based on significant estimates and assumptions, including Level 3 inputs, which are judgmental in nature. The estimates and assumptions include the projected timing and amount of future cash flows, discount rates reflecting the risk inherent in the future cash flows and future market prices. Additionally, the fair value of long-term debt assumed was determined based on quoted market prices, which is considered a Level 2 fair value measurement. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair Value Current assets, including cash and cash equivalents of $104 $ 582 Property, plant and equipment 9,264 Goodwill 1,741 Regulatory assets 108 Deferred income taxes 284 Other long-term assets 1,424 Total assets 13,403 Current liabilities, including current portion of long-term debt of $1,200 1,616 Long-term debt, less current portion 4,415 Regulatory liabilities 650 Other long-term liabilities 292 Total liabilities 6,973 Noncontrolling interest 3,916 Net assets acquired $ 2,514 During the year ended December 31, 2021, the Company made revisions to certain contracts and property, plant and equipment related to non-regulated operations, the equity method investment and associated deferred income tax amounts based upon the receipt of additional information about the facts and circumstances that existed as of the acquisition date. Provisional amounts were subject to further revision for up to 12 months following the acquisition date until the related valuations were completed. Goodwill The excess of the purchase price paid over the estimated fair values of the identifiable assets acquired and liabilities assumed totaled $1.7 billion and is reflected as goodwill in the BHE Pipeline Group reportable segment. The goodwill reflects the value paid primarily for the long-term opportunity to improve operating results through the efficient management of operating expenses and the deployment of capital. Goodwill is not amortized, but rather is reviewed annually for impairment or more frequently if indicators of impairment exist. For income tax purposes, the GT&S Acquisition is treated as a deemed asset acquisition resulting from tax elections being made, therefore all tax goodwill is deductible. Due to book and tax basis differences of certain items, book and tax goodwill will differ. The amount of tax goodwill is approximately $0.9 billion and will be amortized over 15 years. 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 2019 Operating revenue $ 22,581 $ 21,979 Net income attributable to BHE shareholders $ 6,800 $ 3,271 Other In 2021, the Company completed various other acquisitions of residential real estate brokerage businesses 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, 2021 | |
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 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. Dominion Energy Gas Restructuring The acquisition of CPMLP Holdings Company, LLC ("DCP") and Eastern MLP Holding Company II, LLC ("DMLPHCII") from, and the disposition of the East Ohio Gas Company ("East Ohio") and Eastern Gathering and Processing, Inc. ("EGP") to, DEI by Eastern Energy Gas on November 6, 2019 ("Dominion Energy Gas Restructuring") was considered to be a reorganization of entities under common control. As a result, Eastern Energy Gas' basis in DCP and DMLPHCII, which included the general partner of Northeast Midstream Partners, LP ("Northeast Midstream"), a controlling 75% interest in Cove Point, Carolina Gas Transmission, LLC, Questar Pipeline Group, a 50% noncontrolling interest in White River Hub, LLC ("White River Hub") and a 25.93% noncontrolling interest in Iroquois, is equal to DEI's cost basis in the assets and liabilities of such entities since the applicable inception dates of common control. In November 2019, following completion of the Dominion Energy Gas Restructuring, DCP and DMLPHCII are wholly-owned subsidiaries of Eastern Energy Gas and therefore are consolidated by Eastern Energy Gas. The accompanying Consolidated Financial Statements and Notes of Eastern Energy Gas have been retrospectively adjusted to include the historical results and financial position of DCP and DMLPHCII. The 25% interest in Cove Point retained by DEI, and subsequently sold to Brookfield Super-Core Infrastructure Partners ("Brookfield") in December 2019, and the non-DEI held interest in Northeast Midstream (through January 2019) are reflected as noncontrolling interest. The Dominion Energy Gas Restructuring included the disposition of East Ohio and EGP by Eastern Energy Gas in November 2019. This restructuring represented a strategic shift in the operations of Eastern Energy Gas as Eastern Energy Gas' operations consist of LNG import/export and storage and regulated gas transmission and storage operations. As a result, the accompanying Consolidated Financial Statements and Notes of Eastern Energy Gas have been retrospectively adjusted to include the historical results and financial position of East Ohio and EGP as discontinued operations until November 2019. As the Dominion Energy Gas Restructuring was considered to be a reorganization of entities under common control, Eastern Energy Gas reflected the disposition as an equity transaction. The following table represents selected information regarding the results of operations of East Ohio, which are reported as discontinued operations in Eastern Energy Gas' Consolidated Statements of Operations (in millions): Period Ended Operating revenue $ 594 Depreciation and amortization 73 Other operating expenses 399 Other income (expense), net 28 Income tax expense 26 Net income from discontinued operations $ 124 Capital expenditures and significant noncash items relating to East Ohio included the following (in millions): Period Ended Capital expenditures $ 299 Significant noncash items: Charge related to a voluntary retirement program 20 Accrued capital expenditures 2 The following table represents selected information regarding the results of operations of EGP, which are reported as discontinued operations in Eastern Energy Gas' Consolidated Statements of Operations (in millions): Period Ended Operating revenue $ 125 Depreciation and amortization 4 Other operating expenses 97 Income tax expense 7 Net income from discontinued operations $ 17 Capital expenditures of EGP included the following (in millions): Period Ended Capital expenditures $ 11 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
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 2021 2020 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 90,223 $ 86,730 Interstate natural gas pipeline assets 3-80 years 17,423 16,667 107,646 103,397 Accumulated depreciation and amortization (32,680) (30,662) Regulated assets, net 74,966 72,735 Nonregulated assets: Independent power plants 2-50 years 7,665 7,012 Cove Point LNG facility 40 years 3,364 3,339 Other assets 2-30 years 2,666 2,320 13,695 12,671 Accumulated depreciation and amortization (3,041) (2,586) Nonregulated assets, net 10,654 10,085 Net operating assets 85,620 82,820 Construction work-in-progress 4,196 3,308 Property, plant and equipment, net $ 89,816 $ 86,128 Construction work-in-progress includes $3.8 billion and $3.2 billion as of December 31, 2021 and 2020, 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 2021 2020 Utility Plant: Generation 15 - 59 years $ 13,679 $ 12,861 Transmission 60 - 90 years 7,894 7,632 Distribution 20 - 75 years 8,044 7,660 Intangible plant (1) 5 - 75 years 1,106 1,054 Other 5 - 60 years 1,539 1,510 Utility plant in-service 32,262 30,717 Accumulated depreciation and amortization (10,507) (9,838) Utility plant in-service, net 21,755 20,879 Other non-regulated, net of accumulated depreciation and amortization 14 - 95 years 18 9 Plant, net 21,773 20,888 Construction work-in-progress 1,141 1,542 Property, plant and equipment, net $ 22,914 $ 22,430 (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%, 4.1% and 3.3% for the years ended December 31, 2021, 2020 and 2019, respectively, including the impacts of accelerated depreciation totaling $376 million and $125 million in 2020 and 2019, respectively, for Utah's share of certain thermal plant units in 2020, including Cholla Unit No. 4 in 2020 for which operations ceased in December 2020; Oregon's and Idaho's shares of Cholla Unit No. 4 in 2020; and Oregon's share of certain retired wind equipment associated with wind repowering projects in 2020 and 2019. As discussed in Notes 6 and 9, existing regulatory liabilities primarily associated with the Utah Sustainability and Transportation Plan ("STEP") and 2017 Tax Reform benefits were utilized to accelerate depreciation of these assets. Effective January 1, 2021, PacifiCorp revised its depreciation rates based on its recent depreciation study that was approved by its state regulatory commissions, other than in California. The approved depreciation rates resulted in an increase in depreciation expense of approximately $158 million for the year ended December 31, 2021, as compared to the year ended December 31, 2020, based on historical property, plant and equipment balances and including depreciation of certain coal-fueled generating units in Washington over accelerated periods. 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, 2021 and 2020, and accumulated depreciation of $143 million and $140 million as of December 31, 2021 and 2020, 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 2021 2020 Utility plant in-service, net: Generation 20-70 years $ 17,397 $ 16,980 Transmission 52-75 years 2,474 2,365 Electric distribution 20-75 years 4,661 4,369 Natural gas distribution 29-75 years 2,039 1,955 Utility plant in-service 26,571 25,669 Accumulated depreciation and amortization (7,376) (6,902) Utility plant in-service, net 19,195 18,767 Nonregulated property, net: Nonregulated property gross 20-50 years 7 7 Accumulated depreciation and amortization (1) (1) Nonregulated property, net 6 6 19,201 18,773 Construction work-in-progress 1,100 506 Property, plant and equipment, net $ 20,301 $ 19,279 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: 2021 2020 2019 Electric 3.3 % 3.2 % 3.1 % Natural gas 2.8 % 2.8 % 2.8 % |
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 $— million as of December 31, 2021 and 2020, 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 2021 2020 Utility plant: Generation 30 - 55 years $ 3,793 $ 3,690 Transmission 45 - 70 years 1,503 1,468 Distribution 20 - 65 years 3,920 3,771 General and intangible plant 5 - 65 years 836 791 Utility plant 10,052 9,720 Accumulated depreciation and amortization (3,406) (3,162) Utility plant, net 6,646 6,558 Other non-regulated, net of accumulated depreciation and amortization 45 years 1 1 Plant, net 6,647 6,559 Construction work-in-progress 244 142 Property, plant and equipment, net $ 6,891 $ 6,701 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, 2021, 2020 and 2019 was 3.2%, 3.1%, and 3.3%, 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 2021 2020 Utility plant: Electric generation 25 - 60 years $ 1,163 $ 1,130 Electric transmission 50 - 100 years 940 908 Electric distribution 20 - 100 years 1,846 1,754 Electric general and intangible plant 5 - 70 years 204 189 Natural gas distribution 35 - 70 years 438 429 Natural gas general and intangible plant 5 - 70 years 14 15 Common general 5 - 70 years 370 355 Utility plant 4,975 4,780 Accumulated depreciation and amortization (1,854) (1,755) Utility plant, net 3,121 3,025 Other non-regulated, net of accumulated depreciation and amortization 70 years — 2 Plant, net 3,121 3,027 Construction work-in-progress 219 137 Property, plant and equipment, net $ 3,340 $ 3,164 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, 2021, 2020 and 2019 was 3.1%, 3.2% and 3.1%, 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 2016. 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 2021 2020 Utility Plant: Interstate natural gas pipeline assets 21 - 44 years $ 8,675 $ 8,382 Intangible plant 5 - 10 years 110 115 Utility plant in-service 8,785 8,497 Accumulated depreciation and amortization (2,901) (2,759) Utility plant in-service, net 5,884 5,738 Nonutility Plant: LNG facility 40 years 4,475 4,454 Intangible plant 14 years 25 25 Nonutility plant in-service 4,500 4,479 Accumulated depreciation and amortization (423) (283) Nonutility plant in-service, net 4,077 4,196 Plant, net 9,961 9,934 Construction work- in-progress 239 210 Property, plant and equipment, net $ 10,200 $ 10,144 Construction work-in-progress includes $209 million and $196 million as of December 31, 2021 and 2020, respectively, related to the construction of utility plant. |
Jointly Owned Utility Facilitie
Jointly Owned Utility Facilities | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 (dollars in millions): Accumulated Construction Company Facility In Depreciation and Work-in- Share Service Amortization Progress PacifiCorp: Jim Bridger Nos. 1-4 67 % $ 1,523 $ 812 $ 15 Hunter No. 1 94 489 221 8 Hunter No. 2 60 306 138 1 Wyodak 80 477 269 8 Colstrip Nos. 3 and 4 10 260 161 3 Hermiston 50 185 99 — Craig Nos. 1 and 2 19 369 319 — Hayden No. 1 25 77 47 — Hayden No. 2 13 44 28 — Transmission and distribution facilities Various 879 269 118 Total PacifiCorp 4,609 2,363 153 MidAmerican Energy: Louisa No. 1 88 % 864 501 20 Quad Cities Nos. 1 and 2 (1) 25 732 452 9 Walter Scott, Jr. No. 3 79 949 518 15 Walter Scott, Jr. No. 4 (2) 60 225 134 8 George Neal No. 4 41 318 184 4 Ottumwa No. 1 52 674 264 11 George Neal No. 3 72 528 286 9 Transmission facilities Various 263 100 4 Total MidAmerican Energy 4,553 2,439 80 NV Energy: Navajo 11 % 5 5 — Valmy 50 394 309 1 On Line Transmission Line 25 160 31 1 Transmission facilities Various 65 34 — Total NV Energy 624 379 2 BHE Pipeline Group: Ellisburg Pool 39 % 31 11 1 Ellisburg Station 50 26 8 1 Harrison 50 53 18 — Leidy 50 132 46 7 Oakford 50 200 68 2 Common Facilities Various 276 166 — Total BHE Pipeline Group 718 317 11 Total $ 10,504 $ 5,498 $ 246 (1) Includes amounts related to nuclear fuel. |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities Under 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, 2021 (dollars in millions): Facility Accumulated Construction PacifiCorp in Depreciation and Work-in- Share Service Amortization Progress Jim Bridger Nos. 1 - 4 67 % $ 1,523 $ 812 $ 15 Hunter No. 1 94 489 221 8 Hunter No. 2 60 306 138 1 Wyodak 80 477 269 8 Colstrip Nos. 3 and 4 10 260 161 3 Hermiston 50 185 99 — Craig Nos. 1 and 2 19 369 319 — Hayden No. 1 25 77 47 — Hayden No. 2 13 44 28 — Transmission and distribution facilities Various 879 269 118 Total $ 4,609 $ 2,363 $ 153 |
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, 2021 (dollars in millions): Accumulated Construction Company Plant in Depreciation and Work-in- Share Service Amortization Progress Louisa Unit No. 1 88 % $ 864 $ 501 $ 20 Quad Cities Unit Nos. 1 & 2 (1) 25 732 452 9 Walter Scott, Jr. Unit No. 3 79 949 518 15 Walter Scott, Jr. Unit No. 4 (2) 60 225 134 8 George Neal Unit No. 4 41 318 184 4 Ottumwa Unit No. 1 52 674 264 11 George Neal Unit No. 3 72 528 286 9 Transmission facilities Various 263 100 4 Total $ 4,553 $ 2,439 $ 80 (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 $561 million and $127 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, 2021 (dollars in millions): Nevada Construction Power's Utility Accumulated Work-in- Share Plant Depreciation Progress Navajo Generating Station (1) 11 % $ 5 $ 5 $ — ON Line Transmission Line 19 120 23 1 Other transmission facilities Various 61 32 — Total $ 186 $ 60 $ 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, 2021 (dollars in millions): Sierra Construction Pacific's Utility Accumulated Work-in- Share Plant Depreciation Progress Valmy Generating Station 50 % $ 394 $ 309 $ 1 ON Line Transmission Line 6 40 8 — Valmy Transmission 50 4 2 — Total $ 438 $ 319 $ 1 |
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, 2021 (dollars in millions): Accumulated Construction Eastern Energy Gas' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 31 $ 11 $ 1 Ellisburg Station 50 26 8 1 Harrison 50 53 18 — Leidy 50 132 46 7 Oakford 50 200 68 2 Total $ 442 $ 151 $ 11 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 Right-of-use assets: Operating leases $ 524 $ 517 Finance leases 448 501 Total right-of-use assets $ 972 $ 1,018 Lease liabilities: Operating leases $ 577 $ 569 Finance leases 463 514 Total lease liabilities $ 1,040 $ 1,083 The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 611 $ 592 $ 623 Operating 161 151 170 Finance: Amortization 23 18 16 Interest 38 40 41 Short-term 15 20 7 Total lease costs $ 848 $ 821 $ 857 Weighted-average remaining lease term (years): Operating leases 7.6 7.4 7.6 Finance leases 28.1 27.5 28.8 Weighted-average discount rate: Operating leases 4.3 % 4.5 % 5.2 % Finance leases 8.6 % 8.5 % 8.6 % The following table summarizes the Company's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (163) $ (152) $ (153) Operating cash flows from finance leases (38) (40) (42) Financing cash flows from finance leases (28) (24) (19) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 119 $ 83 $ 82 Finance leases 2 19 14 The Company has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 157 $ 72 $ 229 2023 124 62 186 2024 93 62 155 2025 71 60 131 2026 55 60 115 Thereafter 186 607 793 Total undiscounted lease payments 686 923 1,609 Less - amounts representing interest (109) (460) (569) Lease liabilities $ 577 $ 463 $ 1,040 |
Leases | Leases The following table summarizes the Company's leases recorded on the Consolidated Balance Sheet as of December 31 (in millions): 2021 2020 Right-of-use assets: Operating leases $ 524 $ 517 Finance leases 448 501 Total right-of-use assets $ 972 $ 1,018 Lease liabilities: Operating leases $ 577 $ 569 Finance leases 463 514 Total lease liabilities $ 1,040 $ 1,083 The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 611 $ 592 $ 623 Operating 161 151 170 Finance: Amortization 23 18 16 Interest 38 40 41 Short-term 15 20 7 Total lease costs $ 848 $ 821 $ 857 Weighted-average remaining lease term (years): Operating leases 7.6 7.4 7.6 Finance leases 28.1 27.5 28.8 Weighted-average discount rate: Operating leases 4.3 % 4.5 % 5.2 % Finance leases 8.6 % 8.5 % 8.6 % The following table summarizes the Company's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (163) $ (152) $ (153) Operating cash flows from finance leases (38) (40) (42) Financing cash flows from finance leases (28) (24) (19) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 119 $ 83 $ 82 Finance leases 2 19 14 The Company has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 157 $ 72 $ 229 2023 124 62 186 2024 93 62 155 2025 71 60 131 2026 55 60 115 Thereafter 186 607 793 Total undiscounted lease payments 686 923 1,609 Less - amounts representing interest (109) (460) (569) Lease liabilities $ 577 $ 463 $ 1,040 |
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): 2021 2020 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 11 17 Total right-of-use assets $ 22 $ 28 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 12 17 Total lease liabilities $ 23 $ 28 The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 56 $ 60 $ 77 Operating 3 3 3 Finance: Amortization 5 2 1 Interest 2 2 2 Short-term 3 1 2 Total lease costs $ 69 $ 68 $ 85 Weighted-average remaining lease term (years): Operating leases 12.7 13.9 14.0 Finance leases 10.1 8.4 9.1 Weighted-average discount rate: Operating leases 3.7 % 3.8 % 3.7 % Finance leases 11.1 % 10.5 % 10.6 % Cash payments associated with operating and finance lease liabilities approximated lease cost for the years ended December 31, 2021, 2020 and 2019. PacifiCorp has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 3 $ 6 2023 2 2 4 2024 1 2 3 2025 1 2 3 2026 1 2 3 Thereafter 6 10 16 Total undiscounted lease payments 14 21 35 Less - amounts representing interest (3) (9) (12) Lease liabilities $ 11 $ 12 $ 23 |
Leases | Leases The following table summarizes PacifiCorp's leases recorded on the Consolidated Balance Sheets as of December 31 (in millions): 2021 2020 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 11 17 Total right-of-use assets $ 22 $ 28 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 12 17 Total lease liabilities $ 23 $ 28 The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 56 $ 60 $ 77 Operating 3 3 3 Finance: Amortization 5 2 1 Interest 2 2 2 Short-term 3 1 2 Total lease costs $ 69 $ 68 $ 85 Weighted-average remaining lease term (years): Operating leases 12.7 13.9 14.0 Finance leases 10.1 8.4 9.1 Weighted-average discount rate: Operating leases 3.7 % 3.8 % 3.7 % Finance leases 11.1 % 10.5 % 10.6 % Cash payments associated with operating and finance lease liabilities approximated lease cost for the years ended December 31, 2021, 2020 and 2019. PacifiCorp has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 3 $ 6 2023 2 2 4 2024 1 2 3 2025 1 2 3 2026 1 2 3 Thereafter 6 10 16 Total undiscounted lease payments 14 21 35 Less - amounts representing interest (3) (9) (12) Lease liabilities $ 11 $ 12 $ 23 |
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): 2021 2020 Right-of-use assets: Operating leases $ 10 $ 12 Finance leases 326 351 Total right-of-use assets $ 336 $ 363 Lease liabilities: Operating leases $ 13 $ 15 Finance leases 336 361 Total lease liabilities $ 349 $ 376 The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 449 $ 434 $ 434 Operating 2 3 3 Finance: Amortization 13 12 13 Interest 28 29 37 Total lease costs $ 492 $ 478 $ 487 Weighted-average remaining lease term (years): Operating leases 5.7 6.5 7.5 Finance leases 28.7 28.7 30.6 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.7 % The following table summarizes Nevada Power's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 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 (29) (34) (37) Financing cash flows from finance leases (16) (15) (14) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ 1 $ — Finance leases 1 9 9 Nevada Power has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 54 $ 57 2023 2 44 46 2024 3 44 47 2025 2 43 45 2026 3 43 46 Thereafter 2 448 450 Total undiscounted lease payments 15 676 691 Less - amounts representing interest (2) (340) (342) Lease liabilities $ 13 $ 336 $ 349 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 $286 million and $295 million were included on the Consolidated Balance Sheets as of December 31, 2021 and 2020, 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): 2021 2020 Right-of-use assets: Operating leases $ 10 $ 12 Finance leases 326 351 Total right-of-use assets $ 336 $ 363 Lease liabilities: Operating leases $ 13 $ 15 Finance leases 336 361 Total lease liabilities $ 349 $ 376 The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 449 $ 434 $ 434 Operating 2 3 3 Finance: Amortization 13 12 13 Interest 28 29 37 Total lease costs $ 492 $ 478 $ 487 Weighted-average remaining lease term (years): Operating leases 5.7 6.5 7.5 Finance leases 28.7 28.7 30.6 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.7 % The following table summarizes Nevada Power's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 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 (29) (34) (37) Financing cash flows from finance leases (16) (15) (14) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ 1 $ — Finance leases 1 9 9 Nevada Power has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 54 $ 57 2023 2 44 46 2024 3 44 47 2025 2 43 45 2026 3 43 46 Thereafter 2 448 450 Total undiscounted lease payments 15 676 691 Less - amounts representing interest (2) (340) (342) Lease liabilities $ 13 $ 336 $ 349 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 $286 million and $295 million were included on the Consolidated Balance Sheets as of December 31, 2021 and 2020, 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): 2021 2020 Right-of-use assets: Operating leases $ 15 $ 16 Finance leases 111 126 Total right-of-use assets $ 126 $ 142 Lease liabilities: Operating leases $ 15 $ 16 Finance leases 115 130 Total lease liabilities $ 130 $ 146 The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 86 $ 78 $ 69 Operating 1 2 1 Finance: Amortization 5 4 2 Interest 9 9 2 Total lease costs $ 101 $ 93 $ 74 Weighted-average remaining lease term (years): Operating leases 27.4 27.2 26.3 Finance leases 28.4 27.8 20.9 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.2 % 8.1 % 7.1 % The following table summarizes Sierra Pacific's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (2) $ (3) Operating cash flows from finance leases (9) (6) (3) Financing cash flows from finance leases (7) (5) (3) Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ 1 $ 89 $ 5 Sierra Pacific has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 1 $ 16 $ 17 2023 1 16 17 2024 1 15 16 2025 1 15 16 2026 1 15 16 Thereafter 24 149 173 Total undiscounted lease payments 29 226 255 Less - amounts representing interest (14) (111) (125) Lease liabilities $ 15 $ 115 $ 130 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 $110 million and $122 million were included on the Consolidated Balance Sheets as of December 31, 2021 and 2020, 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): 2021 2020 Right-of-use assets: Operating leases $ 15 $ 16 Finance leases 111 126 Total right-of-use assets $ 126 $ 142 Lease liabilities: Operating leases $ 15 $ 16 Finance leases 115 130 Total lease liabilities $ 130 $ 146 The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 86 $ 78 $ 69 Operating 1 2 1 Finance: Amortization 5 4 2 Interest 9 9 2 Total lease costs $ 101 $ 93 $ 74 Weighted-average remaining lease term (years): Operating leases 27.4 27.2 26.3 Finance leases 28.4 27.8 20.9 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.2 % 8.1 % 7.1 % The following table summarizes Sierra Pacific's supplemental cash flow information relating to leases for the years ended December 31 (in millions): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (2) $ (3) Operating cash flows from finance leases (9) (6) (3) Financing cash flows from finance leases (7) (5) (3) Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ 1 $ 89 $ 5 Sierra Pacific has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 1 $ 16 $ 17 2023 1 16 17 2024 1 15 16 2025 1 15 16 2026 1 15 16 Thereafter 24 149 173 Total undiscounted lease payments 29 226 255 Less - amounts representing interest (14) (111) (125) Lease liabilities $ 15 $ 115 $ 130 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 $110 million and $122 million were included on the Consolidated Balance Sheets as of December 31, 2021 and 2020, respectively, for these leases. See Note 2 for further discussion of Sierra Pacific's remaining lease obligations. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2021 | |
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 2021 2020 Asset retirement obligations 14 years $ 742 $ 640 Deferred net power costs 1 year 531 139 Employee benefit plans (1) 15 years 472 722 Deferred income taxes (2) Various 342 283 Asset disposition costs Various 285 347 Demand side management 10 years 211 197 Unrealized loss on regulated derivative contracts Various 157 31 Environmental costs 28 years 108 89 Deferred operating costs 9 years 103 124 Other Various 1,012 868 Total regulatory assets $ 3,963 $ 3,440 Reflected as: Current assets $ 544 $ 283 Noncurrent assets 3,419 3,157 Total regulatory assets $ 3,963 $ 3,440 (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 $1.8 billion and $1.6 billion as of December 31, 2021 and 2020, 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 2021 2020 Deferred income taxes (1) Various $ 3,185 $ 3,600 Cost of removal (2) 26 years 2,424 2,435 Asset retirement obligations 31 years 345 305 Levelized depreciation 29 years 259 281 Employee benefit plans (3) Various 243 187 Other Various 758 667 Total regulatory liabilities $ 7,214 $ 7,475 Reflected as: Current liabilities $ 254 $ 254 Noncurrent liabilities 6,960 7,221 Total regulatory liabilities $ 7,214 $ 7,475 (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 2021 2020 Employee benefit plans (1) 17 years $ 286 $ 432 Utah mine disposition (2) Various 116 117 Unamortized contract values 2 years 36 42 Deferred net power costs 2 years 151 78 Unrealized loss on derivative contracts N/A — 17 Environmental costs 28 years 108 89 Asset retirement obligation 29 years 241 252 Demand side management (DSM) (3) 10 years 211 196 Other Various 203 172 Total regulatory assets $ 1,352 $ 1,395 Reflected as: Current assets $ 65 $ 116 Noncurrent assets 1,287 1,279 Total regulatory assets $ 1,352 $ 1,395 (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. (3) In accordance with the Utah general rate case order issued in December 2020, $185 million of amounts billed to Utah customers under the Utah STEP program were used to accelerate depreciation of certain coal-fueled generation units as discussed in Note 3. PacifiCorp had regulatory assets not earning a return on investment of $723 million and $707 million as of December 31, 2021 and 2020, 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 2021 2020 Cost of removal (1) 26 years $ 1,187 $ 1,125 Deferred income taxes (2) Various 1,307 1,463 Unrealized gain on regulated derivatives 1 year 53 — Other Various 221 254 Total regulatory liabilities $ 2,768 $ 2,842 Reflected as: Current liabilities $ 118 $ 115 Noncurrent liabilities 2,650 2,727 Total regulatory liabilities $ 2,768 $ 2,842 (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, 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 2021 2020 Asset retirement obligations (1) 6 years $ 393 $ 298 Employee benefit plans (2) 13 years 42 66 Unrealized loss on regulated derivative contracts 1 year 5 — Other Various 33 28 Total $ 473 $ 392 (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 $470 million and $389 million as of December 31, 2021 and 2020, 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 2021 2020 Cost of removal accrual (1) 29 years $ 394 $ 466 Asset retirement obligations (2) 31 years 341 300 Iowa electric revenue sharing accrual (3) 1 year 115 — Deferred income taxes (4) Various 83 263 Employee benefit plans (5) 9 years 55 20 Pre-funded AFUDC on transmission MVPs (6) 51 years 34 35 Unrealized gain on regulated derivative contracts 1 year 26 2 Other Various 32 25 Total $ 1,080 $ 1,111 (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) Amount represents the excess of nuclear decommission trust assets over the related ARO. Refer to Note 11 for a discussion of AROs. (3) Represents current-year accruals under a regulatory arrangement in Iowa in which equity returns exceeding specified thresholds reduce utility plant upon final determination. (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 amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. (6) 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. Natural Gas Purchased for Resale In February 2021, severe cold weather over the central United States caused disruptions in natural gas supply from the southern part of the United States. 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. While sufficient liquidity is available to MidAmerican Energy, the increased costs and longer recovery period resulted in higher working capital requirements during the year ended December 31, 2021. |
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 2021 2020 Deferred energy costs 1 year $ 273 $ 39 Decommissioning costs 2 years 169 230 Unrealized loss on regulated derivative contracts 1 year 117 11 Merger costs from 1999 merger 23 years 110 115 Deferred operating costs 12 years 93 119 Asset retirement obligations 6 years 73 70 ON Line deferrals 32 years 42 43 Legacy meters 11 years 41 45 Employee benefit plans (1) 8 years 11 50 Other Various 90 72 Total regulatory assets $ 1,019 $ 794 Reflected as: Current assets $ 291 $ 48 Noncurrent assets 728 746 Total regulatory assets $ 1,019 $ 794 (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. Nevada Power had regulatory assets not earning a return on investment of $371 million and $288 million as of December 31, 2021 and 2020, 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 2021 2020 Deferred income taxes (1) Various $ 603 $ 647 Cost of removal (2) 31 years 348 340 Other Various 198 226 Total regulatory liabilities $ 1,149 $ 1,213 Reflected as: Current liabilities $ 49 $ 50 Noncurrent liabilities 1,100 1,163 Total regulatory liabilities $ 1,149 $ 1,213 (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. Natural Disaster Protection Plan ("NDPP") In March 2021, Nevada Power filed an application seeking recovery of the 2020 expenditures, approval for an update to the initial NDPP that was ordered by the PUCN and filed their first amendment to the 2020 NDPP. A hearing related to the application for approval of the first amendment to the 2020 NDPP was held in June 2021. Nevada Power filed a partial-party stipulation resolving all issues. One of the intervening parties filed an opposition to the partial-party stipulation and other intervenors filed legal briefs. The partial-party stipulation was approved by the PUCN in June 2021 with the lone dissenting party retaining the right to argue a single issue in future proceedings with the primary issue being a single statewide rate as a cost recovery mechanism. In July 2021, a hearing was held on the cost recovery of 2020 expenditures. In September 2021, the PUCN issued an order, approving the recovery of the 2020 expenditures with adjustments for vegetation management, inspections and corrections and rate structure. Certain vegetation management expenditures were to be removed from the NDPP rate and deemed to be recovered through the general three-year regulatory rate review process. A portion of the inspections and corrections were deferred to seek recovery in a future NDPP rate filing. Lastly, the order approved cost recovery based on a hybrid rate calculation comprised of a statewide rate component for operating costs and a service territory specific rate component for capital costs. In September 2021, Nevada Power and one of the intervening parties filed petitions for reconsideration that were granted by the PUCN. In January 2022, the PUCN issued an order reaffirming its order from September 2021. Regulatory Rate Review In June 2020, Nevada Power filed an electric regulatory rate review with the PUCN. The filing supported an annual revenue reduction of $96 million but requested an annual revenue reduction of $120 million. In September 2020, Nevada Power filed an all-party settlement for the electric regulatory rate review. The settlement resolved all but one issue and provided for an annual revenue reduction of $93 million and required Nevada Power to issue a $120 million one-time bill credit, composed primarily of existing regulatory liabilities, to customers beginning in October 2020. The continuation of the earning sharing mechanism was the one issue that was not addressed in the settlement. In October 2020, the PUCN held a hearing on the continuation of the earning sharing mechanism and issued an interim order accepting the settlement and requiring the one-time bill credit be issued to customers. The $120 million one-time bill credit was issued to customers in the fourth quarter of 2020. In December 2020, the PUCN issued a final order directing Nevada Power to continue the earning sharing mechanism subject to any modifications made to the earning sharing mechanism pursuant to an alternative rate-making ruling and to use the weather normalization methodology adopted for Sierra Pacific in its 2019 regulatory rate review. The new rates were effective on January 1, 2021. Energy Efficiency Program Rates ("EEPR") and Energy Efficiency Implementation Rates ("EEIR") EEPR was established to allow Nevada Power to recover the costs of implementing energy efficiency programs and EEIR was established to offset the negative impacts on revenue associated with the successful implementation of energy efficiency programs. These rates change once a year in the utility's annual DEAA application based on energy efficiency program budgets prepared by Nevada Power and approved by the PUCN in integrated resource plan proceedings. When Nevada Power's regulatory earned rate of return for a calendar year exceeds the regulatory rate of return used to set base tariff general rates, it is obligated to refund energy efficiency implementation revenue previously collected for that year. In March 2021, Nevada Power filed an application to reset the EEIR and EEPR and to refund the EEIR revenue received in 2020, including carrying charges. In August 2021, the PUCN issued an order accepting a stipulation requiring Nevada Power to refund the 2020 revenue and reset the rates as filed effective October 1, 2021. The EEIR liability for Nevada Power is $8 million, which is included in current regulatory liabilities on the Consolidated Balance Sheets as of December 31, 2021 and 2020. |
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 2021 2020 Deferred energy costs 1 year $ 107 $ 22 Merger costs from 1999 merger 25 years 66 68 Natural disaster protection plan 1 year 62 45 Employee benefit plans (1) 8 years 46 81 Unrealized loss on regulated derivative contracts 1 year 35 2 Deferred operating costs 8 years 31 27 Abandoned projects 5 years 19 22 Other Various 74 67 Total regulatory assets $ 440 $ 334 Reflected as: Current assets $ 177 $ 67 Noncurrent assets 263 267 Total regulatory assets $ 440 $ 334 (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 $158 million and $149 million as of December 31, 2021 and 2020, 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 2021 2020 Deferred income taxes (1) Various $ 234 $ 249 Cost of removal (2) 36 years 201 197 Other Various 28 51 Total regulatory liabilities $ 463 $ 497 Reflected as: Current liabilities $ 19 $ 34 Noncurrent liabilities 444 463 Total regulatory liabilities $ 463 $ 497 (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. Natural Disaster Protection Plan ("NDPP") In March 2021, Sierra Pacific filed an application seeking recovery of the 2020 expenditures, approval for an update to the initial NDPP that was ordered by the PUCN and filed their first amendment to the 2020 NDPP. A hearing related to the application for approval of the first amendment to the 2020 NDPP was held in June 2021. Sierra Pacific filed a partial-party stipulation resolving all issues. One of the intervening parties filed an opposition to the partial-party stipulation and other intervenors filed legal briefs. The partial-party stipulation was approved by the PUCN in June 2021 with the lone dissenting party retaining the right to argue a single issue in future proceedings with the primary issue being a single statewide rate as a cost recovery mechanism. In July 2021, a hearing was held on the cost recovery of 2020 expenditures. In September 2021, the PUCN issued an order, approving the recovery of the 2020 expenditures with adjustments for vegetation management, inspections and corrections and rate structure. Certain vegetation management expenditures were to be removed from the NDPP rate and deemed to be recovered through the general three-year regulatory rate review process. A portion of the inspections and corrections were deferred to seek recovery in a future NDPP rate filing. Lastly, the order approved cost recovery based on a hybrid rate calculation comprised of a statewide rate component for operating costs and a service territory specific rate component for capital costs. In September 2021, Sierra Pacific and one of the intervening parties filed petitions for reconsideration that were granted by the PUCN. In January 2022, the PUCN issued an order reaffirming its order from September 2021. Energy Efficiency Program Rates ("EEPR") and Energy Efficiency Implementation Rates ("EEIR") EEPR was established to allow Sierra Pacific to recover the costs of implementing energy efficiency programs and EEIR was established to offset the negative impacts on revenue associated with the successful implementation of energy efficiency programs. These rates change once a year in the utility's annual DEAA application based on energy efficiency program budgets prepared by Sierra Pacific. When Sierra Pacific's regulatory earned rate of return for a calendar year exceeds the regulatory rate of return used to set base tariff general rates, it is obligated to refund energy efficiency implementation revenue previously collected for that year. In March 2021, Sierra Pacific filed an application to reset the EEIR and EEPR and to refund the EEIR revenue received in 2020, including carrying charges. In August 2021, the PUCN issued an order accepting a stipulation requiring Sierra Pacific to refund the 2020 revenue and reset the rates as filed effective October 1, 2021.The EEIR liability for Sierra Pacific is $1 million and $2 million, which is included in current regulatory liabilities on the Consolidated Balance Sheets as of December 31, 2021 and 2020, respectively. |
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 2021 2020 Employee benefit plans (1) 14 years $ 62 $ 70 Other Various 12 12 Total regulatory assets $ 74 $ 82 Reflected as: Other current assets $ 6 $ 8 Other assets 68 74 Total regulatory assets $ 74 $ 82 (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 $8 million and $10 million as of December 31, 2021 and 2020, 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 2021 2020 Income taxes refundable through future rates (1) Various $ 468 $ 473 Other postretirement benefit costs (2) Various 116 115 Cost of removal (3) 44 years 73 88 Other Various 28 33 Total regulatory liabilities $ 685 $ 709 Reflected as: Current liabilities $ 40 $ 40 Noncurrent liabilities 645 669 Total regulatory liabilities $ 685 $ 709 (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) 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. Regulatory Matters Eastern Gas Transmission and Storage, Inc. In September 2021, Eastern Gas Transmission and Storage, Inc. ("EGTS") filed a general rate case for its FERC-jurisdictional services, with proposed rates to be effective November 1, 2021. EGTS' previous general rate case was settled in 1998. EGTS proposed an annual cost-of-service of approximately $1.1 billion, and requested increases in various rates, including general system storage rates by 85% and general system transportation rates by 60%. In October 2021, the FERC issued an order that accepted the November 1, 2021 effective date for certain changes in rates, while suspending the other changes for five months following the proposed effective date, until April 1, 2022, subject to refund and the outcome of hearing procedures. This matter is pending. 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) 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 Coast Pipeline") for the project previously intended for EGTS to provide approximately 1,500,000 decatherms ("Dth") of firm transportation 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. In January 2018, EGTS filed an application to request FERC authorization to construct and operate certain facilities located in Ohio and Pennsylvania for the Sweden Valley project. In June 2019, EGTS withdrew its application for the project due to certain regulatory delays. As a result of the project abandonment, during the second quarter of 2019, EGTS recorded a charge of $13 million ($10 million after-tax), included in operations and maintenance expenses in the Consolidated Statement of Operations. 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 result 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. |
Investments and Restricted Cash
Investments and Restricted Cash and Cash Equivalents and Investments | 12 Months Ended |
Dec. 31, 2021 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents and Investments | Investments and Restricted Cash and Cash Equivalents and Investments Investments and restricted cash and cash equivalents and investments consists of the following as of December 31 (in millions): 2021 2020 Investments: BYD Company Limited common stock $ 7,693 $ 5,897 Rabbi trusts 492 440 Other 305 263 Total investments 8,490 6,600 Equity method investments: BHE Renewables tax equity investments 4,931 5,626 Iroquois Gas Transmission System, L.P. 735 580 Electric Transmission Texas, LLC 595 594 JAX LNG, LLC 92 75 Bridger Coal Company 45 74 Other 156 118 Total equity method investments 6,554 7,067 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 768 676 Other restricted cash and cash equivalents 148 155 Total restricted cash and cash equivalents and investments 916 831 Total investments and restricted cash and cash equivalents and investments $ 15,960 $ 14,498 Reflected as: Other current assets $ 172 $ 178 Noncurrent assets 15,788 14,320 Total investments and restricted cash and cash equivalents and investments $ 15,960 $ 14,498 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. Gains (losses) on marketable securities, net recognized during the period consists of the following for the years ended December 31 (in millions): 2021 2020 2019 Unrealized gains (losses) recognized on marketable securities held at the reporting date $ 1,819 $ 4,791 $ (290) Net gains recognized on marketable securities sold during the period 4 6 2 Gains (losses) on marketable securities, net $ 1,823 $ 4,797 $ (288) 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 has made contributions of $— million, $2,736 million and $1,619 million in 2021, 2020 and 2019, respectively, and has commitments as of December 31, 2021, subject to satisfaction of certain specified conditions, to provide equity contributions of $356 million in 2022 pursuant to these equity capital contribution agreements as the various projects achieve commercial operation. However, the Company expects to assign its rights and obligations under these equity capital contribution agreements, including any related funding commitments, to an entity affiliated through common ownership. 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 the 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. 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 and Investments | Investments and Restricted Investments Investments and restricted investments consists of the following amounts as of December 31 (in millions): 2021 2020 Nuclear decommissioning trust $ 768 $ 676 Rabbi trusts 233 211 Other 25 24 Total $ 1,026 $ 911 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, 2021 and 2020, the fair value of the trust's funds was invested as follows: 56% and 56%, respectively, in domestic common equity securities, 30% and 30%, respectively, in United States government securities, 12% and 11%, respectively, in domestic corporate debt securities and 2% and 3%, 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 and Investments | 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, 2021 and 2020. |
EEGH | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Investments and Restricted Cash and Cash Equivalents and Investments | Investments and Restricted Cash and Cash Equivalents Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2021 2020 Investments: Investment funds $ 13 $ — Equity method investments: Iroquois 399 244 Total investments 412 244 Restricted cash and cash equivalents: Customer deposits 17 13 Total restricted cash and cash equivalents 17 13 Total investments and restricted cash and cash equivalents $ 429 $ 257 Reflected as: Current assets $ 17 $ 13 Noncurrent assets 412 244 Total investments and restricted cash and cash equivalents $ 429 $ 257 Equity Method Investments Eastern Energy Gas, through a subsidiary, owns 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut. 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, 2021 and 2020, 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 $44 million, $77 million and $74 million for the years ended December 31, 2021, 2020 and 2019, respectively. |
Short-term Debt and Credit Faci
Short-term Debt and Credit Facilities | 12 Months Ended |
Dec. 31, 2021 | |
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) 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 2020: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 228 $ 923 $ 3,020 $ 11,030 Less: Short-term debt — (93) — (45) (23) (225) (1,900) (2,286) Tax-exempt bond support and letters of credit — (218) (370) — — (2) — (590) Net credit facilities $ 3,500 $ 889 $ 1,139 $ 605 $ 205 $ 696 $ 1,120 $ 8,154 (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 drawn uncommitted credit facilities totaling $1 million and $23 million, respectively, at Northern Powergrid as of December 31, 2021 and 2020. As of December 31, 2021, 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 2024 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 Eurodollar rate 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, 2021 and 2020, BHE did not have any commercial paper borrowings outstanding. 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, 2021 and 2020, BHE had $101 million and $105 million, respectively, of letters of credit outstanding. These letters of credit primarily support power purchase agreements and debt service requirements at certain subsidiaries of BHE Renewables, LLC expiring through April 2023 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 2024 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 Eurodollar 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, 2021, PacifiCorp did not have any commercial paper borrowings outstanding. As of December 31, 2020, PacifiCorp had $93 million of commercial paper outstanding with a weighted average interest rate of 0.16%. 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, 2021 and 2020, PacifiCorp had $19 million and $11 million, respectively, of fully available letters of credit issued under committed arrangements in support of certain transactions required by third parties and 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, 2021, MidAmerican Energy has $1.5 billion unsecured credit facility expiring in June 2024. In June 2021, MidAmerican Energy amended and restated its existing $900 million unsecured credit facility expiring June 2022. The amendment increased the commitment of the lenders to $1.5 billion, extended the expiration date to June 2024 and increased the available maturity extension options to an unlimited number, 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 Eurodollar rate 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, 2020, in addition to the $900 million unsecured credit facility discussed above, MidAmerican Energy had a $600 million unsecured credit facility expiring August 2021, which was terminated in June 2021. As of December 31, 2021 and 2020, 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. NV Energy Nevada Power has a $400 million secured credit facility expiring in June 2024 and Sierra Pacific has a $250 million secured credit facility expiring in June 2024 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 the Eurodollar rate 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, 2021 and 2020, the Nevada Utilities had borrowings of $339 million and $45 million outstanding under these credit facilities at a weighted average interest rate of 0.86% and 0.90%, 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 2024 with two one-year maturity extension options. 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. AltaLink AltaLink has a C$500 million secured revolving term credit facility expiring in December 2026 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 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, has a variable interest rate based on the Canadian bank prime lending rate, United States 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, 2021 and 2020, AltaLink had $108 million and $113 million outstanding under these facilities at a weighted average interest rate of 0.35% and 0.36%, 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, United States 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 2022 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, United States 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, 2021 and 2020, AltaLink Investments, L.P. had $137 million and $112 million outstanding under this facility at a weighted average interest rate of 1.46% and 1.47%, 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 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, 2021 and 2020, HomeServices had $250 million and $100 million, respectively, outstanding under its credit facility with a weighted average interest rate of 0.95% and 1.15%, respectively. Through its subsidiaries, HomeServices maintains mortgage lines of credit totaling $2.6 billion and $2.4 billion as of December 31, 2021 and 2020, respectively, used for mortgage banking activities that expire beginning in February 2022 through September 2022. The mortgage lines of credit have variable rates based on LIBOR 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, 2021 and 2020, HomeServices had $1.2 billion and $1.8 billion, respectively, outstanding under these mortgage lines of credit at a weighted average interest rate of 1.91% and 2.03%, respectively. BHE Renewables Letters of Credit As of December 31, 2021 and 2020, certain renewable projects collectively have letters of credit outstanding of $311 million and $305 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 credit facilities as of December 31 (in millions): 2021: Credit facilities $ 1,200 Less: Short-term debt — Tax-exempt bond support (218) Net credit facilities $ 982 2020: Credit facilities $ 1,200 Less: Short-term debt (93) Tax-exempt bond support (218) Net credit facilities $ 889 As of December 31, 2021, PacifiCorp was in compliance with the covenants of its credit facilities and letter of credit arrangements. PacifiCorp has a $1.2 billion unsecured credit facility expiring in June 2024 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 Eurodollar 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, 2021, PacifiCorp did not have any commercial paper borrowings outstanding. As of December 31, 2020, PacifiCorp had $93 million of commercial paper outstanding with a weighted average interest rate of 0.16%. 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, 2021 and 2020, PacifiCorp had $19 million and $11 million, respectively, of fully available letters of credit issued under committed arrangements in support of certain transactions required by third parties and 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): 2021 2020 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, 2021, MidAmerican Energy has a $1.5 billion unsecured credit facility expiring in June 2024. In June 2021, MidAmerican Energy amended and restated its existing $900 million unsecured credit facility expiring June 2022. The amendment increased the commitment of the lenders to $1.5 billion, extended the expiration date to June 2024 and increased the available maturity extension options to an unlimited number, 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 Eurodollar rate 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 2022 and has a variable interest rate based on the Eurodollar rate plus a spread. As of December 31, 2020, in addition to the $900 million unsecured credit facility discussed above, MidAmerican Energy had a $600 million unsecured credit facility expiring August 2021, which was terminated in June 2021. MidAmerican Energy had no commercial paper borrowings outstanding of as of December 31, 2021 and 2020. 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, 2021, 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, 2022. |
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 2022 and has a variable interest rate based on the Eurodollar rate plus a spread. As of December 31, 2021 and 2020, there were no borrowings outstanding under this credit facility. As of December 31, 2021, 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): 2021 2020 Credit facilities $ 400 $ 400 Short-term debt (180) — Net credit facilities $ 220 $ 400 Nevada Power has a $400 million secured credit facility expiring in June 2024 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 Eurodollar rate 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, 2021 and 2020, Nevada Power had borrowings of $180 million and $— million, respectively, outstanding under the credit facility. As of December 31, 2021, the weighted average interest rate on borrowings outstanding was 0.86%. 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, 2021, Nevada Power had $15 million 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): 2021 2020 Credit facilities $ 250 $ 250 Short-term debt (159) (45) Net credit facilities $ 91 $ 205 Sierra Pacific has a $250 million secured credit facility expiring in June 2024 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 Eurodollar 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, 2021 and 2020, Sierra Pacific had borrowings of $159 million and $45 million, respectively, outstanding under the credit facility. As of December 31, 2021 and 2020, the weighted average interest rate on borrowings outstanding was 0.86% and 0.90%, 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, 2021 | |
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 2021 2020 2.375% Senior Notes, due 2021 $ — $ — $ 448 2.80% Senior Notes, due 2023 400 398 398 3.75% Senior Notes, due 2023 500 499 498 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,246 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 260 257 3.70% Senior Notes, due 2030 1,100 1,096 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 1,488 1,488 Total BHE Senior Debt $ 13,101 $ 13,003 $ 13,447 Reflected as: Current liabilities $ — $ 450 Noncurrent liabilities 13,003 12,997 Total BHE Senior Debt $ 13,003 $ 13,447 Junior Subordinated Debentures BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2021 2020 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, 2021, 2020 and 2019. |
Subsidiary Debt
Subsidiary Debt | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021, 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 2021 2020 PacifiCorp $ 8,797 $ 8,730 $ 8,612 MidAmerican Funding 8,047 7,946 7,431 NV Energy 3,701 3,675 3,673 Northern Powergrid 3,321 3,287 3,259 BHE Pipeline Group 5,534 5,924 6,165 BHE Transmission 3,924 3,906 3,877 BHE Renewables 3,073 3,043 3,116 HomeServices 148 148 186 Total subsidiary debt $ 36,545 $ 36,659 $ 36,319 Reflected as: Current liabilities $ 1,265 $ 1,389 Noncurrent liabilities 35,394 34,930 Total subsidiary debt $ 36,659 $ 36,319 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 2021 2020 First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 $ 2,245 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 1,094 5.25% to 6.10%, due 2032 to 2036 850 845 845 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 2,137 4.10%, due 2042 300 297 297 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 1,776 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 8,797 $ 8,730 $ 8,612 (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 $31 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2021. 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 2021 2020 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 225 $ 221 MidAmerican Energy: Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047 370 368 368 First Mortgage Bonds: 3.70%, due 2023 250 250 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Total MidAmerican Energy 7,808 7,721 7,210 Total MidAmerican Funding $ 8,047 $ 7,946 $ 7,431 Pursuant to MidAmerican Energy's mortgage dated September 9, 2013, as amended by the First Supplemental Indenture dated as of September 19, 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. As of December 31, 2021, MidAmerican Energy's eligible property subject to the lien of the mortgage totaled approximately $22 billion based on original cost. 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, 2021 and 2020. MidAmerican Energy maintains revolving credit facility agreements to provide liquidity for holders of these issues and $180 million of the variable rate, tax-exempt bonds 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 2021 2020 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 361 361 6.750% Series R, due 2037 349 347 347 5.375% Series X, due 2040 250 249 249 5.450% Series Y, due 2041 250 246 244 3.125% Series EE, due 2050 300 297 297 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 Total Nevada Power 2,534 2,510 2,507 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 252 254 256 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (2) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (3) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (2) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (2) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (2) 20 20 20 Total Sierra Pacific 1,167 1,165 1,166 Total NV Energy $ 3,701 $ 3,675 $ 3,673 (1) Bonds were purchased by Nevada Power in May 2020 and re-offered at a fixed interest rate. Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (3) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. 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, 2021, approximately $9 billion of Nevada Power's and $5 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) 2021 2020 4.133% European Investment Bank loans, due 2022 $ 204 $ 204 $ 206 7.25% Bonds, due 2022 271 269 277 2.50% Bonds, due 2025 203 202 203 2.073% European Investment Bank loan, due 2025 67 69 70 2.564% European Investment Bank loans, due 2027 338 337 340 7.25% Bonds, due 2028 251 254 257 4.375% Bonds, due 2032 203 200 202 5.125% Bonds, due 2035 271 268 270 5.125% Bonds, due 2035 203 201 203 2.750% Bonds, due 2049 203 200 202 2.250% Bonds, due 2059 406 398 402 1.875% Bonds, due 2062 406 398 403 Variable-rate loan, due 2026 (2) — — 183 Variable-rate loan, due 2026 (3) — — 41 Variable-rate loan, due 2026 (4) 295 287 — Total Northern Powergrid $ 3,321 $ 3,287 $ 3,259 (1) The par values for these debt instruments are denominated in sterling. (2) The Company had entered into an interest rate swap that fixed the interest rate on 89% of the outstanding debt. The variable interest rate as of December 31, 2020 was 2.03% (including 2.0% margin) and the fixed interest rate was 3.07% (including 2.0% margin), resulting in a blended rate of 2.96%. (3) The variable interest rate as of December 31, 2020 was 2.02% (including 2.0% margin). (4) 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, 2021 was 1.73% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.30%. 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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total Eastern Energy Gas 3,934 3,906 4,425 Fair value adjustments — 430 493 Total Eastern Energy Gas, net of fair value adjustments 3,934 4,336 4,918 Northern Natural Gas: 4.25% Senior Notes, due 2021 — — 200 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 651 650 3.40% Senior Bonds, due 2051 550 540 — Total Northern Natural Gas 1,600 1,588 1,247 Total BHE Pipeline Group $ 5,534 $ 5,924 $ 6,165 (1) The senior notes had variable interest rates based on LIBOR plus an applicable margin. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% including a 0.60% margin. (2) 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, 2021 and 2020 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) 2021 2020 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ 158 $ 158 $ 157 Total AltaLink Investments, L.P. 158 158 157 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 218 218 216 Series 2013-4 Notes, 3.668%, due 2023 396 395 392 Series 2014-1 Notes, 3.399%, due 2024 277 277 275 Series 2016-1 Notes, 2.747%, due 2026 277 276 274 Series 2020-1 Notes, 1.509%, due 2030 178 177 175 Series 2006-1 Notes, 5.249%, due 2036 119 118 118 Series 2010-1 Notes, 5.381%, due 2040 99 99 98 Series 2010-2 Notes, 4.872%, due 2040 119 118 117 Series 2011-1 Notes, 4.462%, due 2041 218 217 215 Series 2012-1 Notes, 3.990%, due 2042 415 410 407 Series 2013-3 Notes, 4.922%, due 2043 277 276 274 Series 2014-3 Notes, 4.054%, due 2044 233 232 230 Series 2015-1 Notes, 4.090%, due 2045 277 275 273 Series 2016-2 Notes, 3.717%, due 2046 356 354 351 Series 2013-1 Notes, 4.446%, due 2053 198 197 196 Series 2014-2 Notes, 4.274%, due 2064 103 103 102 Total AltaLink, L.P. 3,760 3,742 3,713 Other: Construction Loan, 5.620%, due 2024 6 6 7 Total BHE Transmission $ 3,924 $ 3,906 $ 3,877 (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 2021 2020 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 62 $ 62 $ 69 Solar Star Funding Senior Notes, 3.950%, due 2035 258 256 269 Solar Star Funding Senior Notes, 5.375%, due 2035 826 819 853 Grande Prairie Wind Senior Notes, 3.860%, due 2037 299 297 327 Topaz Solar Farms Senior Notes, 5.750%, due 2039 606 600 631 Topaz Solar Farms Senior Notes, 4.875%, due 2039 172 170 180 Alamo 6 Senior Notes, 4.170%, due 2042 199 197 205 Other 5 5 8 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 119 117 138 Marshall Wind Term Loan, due 2026 (2) 64 63 69 Flat Top Wind I Term Loan, due 2028 (2) 113 113 — Pinyon Pines I and II Term Loans, due 2034 (2) 350 344 367 Total BHE Renewables $ 3,073 $ 3,043 $ 3,116 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or Secured Overnight Financing Rate 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, 2021 and 2020 ranged from 3.21% to 3.88%. The variable interest rate on the Flat Top Wind I outstanding debt was 6.34% as of December 31, 2021. 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 2021 2020 Variable-rate: Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 (1) $ 148 $ 148 $ 186 (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, 2022 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total BHE senior notes $ — $ 900 $ — $ 1,650 $ — $ 10,551 $ 13,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 155 449 592 301 100 7,200 8,797 MidAmerican Funding — 316 537 15 2 7,177 8,047 NV Energy — 250 — — 400 3,051 3,701 Northern Powergrid 526 56 56 318 84 2,281 3,321 BHE Pipeline Group — 650 1,050 — 284 3,550 5,534 BHE Transmission 377 397 282 — 277 2,591 3,924 BHE Renewables 199 200 210 241 218 2,005 3,073 HomeServices 8 7 9 15 109 — 148 Totals $ 1,265 $ 3,225 $ 2,736 $ 2,540 $ 1,474 $ 38,506 $ 49,746 |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 Average Average Principal Carrying Interest Carrying Interest Amount Value Rate Value Rate First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 4.52 % $ 2,245 4.12 % 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 4.35 1,094 4.35 5.25% to 6.10%, due 2032 to 2036 850 845 5.75 845 5.75 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 6.05 2,137 6.05 4.10% due 2042 300 297 4.10 297 4.10 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 3.52 1,776 3.86 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 0.12 25 0.14 Due 2024 to 2025 (1) 193 193 0.13 193 0.15 Total long-term debt $ 8,797 $ 8,730 $ 8,612 Reflected as: 2021 2020 Current portion of long-term debt $ 155 $ 420 Long-term debt 8,575 8,192 Total long-term debt $ 8,730 $ 8,612 (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. 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 $2.0 billion 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 United States 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 $31 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2021. In November 2021, PacifiCorp exercised its par call redemption option, available in the final three months prior to scheduled maturity, and redeemed $450 million of its 2.95% Series First Mortgage Bonds that was originally due February 2022. As of December 31, 2021, the annual principal maturities of long-term debt for 2022 and thereafter are as follows (in millions): Long-term Debt 2022 $ 155 2023 449 2024 591 2025 302 2026 100 Thereafter 7,200 Total 8,797 Unamortized discount and debt issuance costs (67) Total $ 8,730 |
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 2021 2020 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%): 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 29 29 Due 2047 150 149 149 Total $ 7,808 $ 7,721 $ 7,210 The annual repayments of MidAmerican Energy's long-term debt for the years beginning January 1, 2022, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2022 $ — 2023 316 2024 537 2025 15 2026 2 2027 and thereafter 6,938 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 $22 billion of MidAmerican Energy's eligible property, based on original cost, was subject to the lien of the mortgage as of December 31, 2021. 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, 2021 and 2020. 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, 2021, 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, 2021, MidAmerican Energy's common equity ratio was 53% 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 $3.3 billion as of December 31, 2021, 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, 2021 and 2020. 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 $5.6 billion as of December 31, 2021. As of December 31, 2021, MidAmerican Funding was in compliance with all of its applicable long-term debt covenants. Each of MidAmerican Funding's direct or indirect subsidiaries is organized as a legal entity separate and apart from MidAmerican Funding and its other subsidiaries. It should not be assumed that any asset of any subsidiary of MidAmerican Funding will be available to satisfy the obligations of MidAmerican Funding or any of its other subsidiaries; provided, however, that unrestricted cash or other assets which are available for distribution may, subject to applicable law and the terms of financing arrangements of such parties, be advanced, loaned, paid as dividends or otherwise distributed or contributed to MidAmerican Funding, one of its subsidiaries or affiliates thereof. |
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 2021 2020 General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 359 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 237 3.125% Series EE, due 2050 300 297 297 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 Total long-term debt $ 2,534 $ 2,499 $ 2,496 Reflected as: Total long-term debt $ 2,499 $ 2,496 (1) Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2027 and thereafter $ 2,534 Unamortized premium, discount and debt issuance cost (35) Total $ 2,499 In January 2022, Nevada Power entered into a $300 million secured delayed draw term loan facility maturing in January 2024. Amounts borrowed under the facility bear interest at variable rates based on the Secured Overnight Financing Rate or a base rate, at Nevada Power's option, plus a pricing margin. In January 2022, Nevada Power borrowed $200 million under the facility at an initial interest rate of 0.55%. Nevada Power may draw all or none of the remaining unused commitment through June 2022. Nevada Power used the proceeds to repay amounts outstanding under its existing secured credit facility and for general corporate purposes. 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, 2021, approximately $9.4 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 2021 2020 General and refunding mortgage securities: 3.375% Series T, due 2023 $ 250 $ 249 $ 249 2.600% Series U, due 2026 400 397 396 6.750% Series P, due 2037 252 253 255 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (1) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (2) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (1) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (1) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (1) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (1) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (1) 20 20 20 Total long-term debt $ 1,167 $ 1,164 $ 1,164 Reflected as - Long-term debt $ 1,164 $ 1,164 (1) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2023 $ 250 2026 400 2027 and thereafter 517 Total 1,167 Unamortized premium, discount and debt issuance cost (3) Total $ 1,164 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, 2021, approximately $4.5 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 Debt On 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 in 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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total long-term debt $ 3,934 $ 3,906 $ 4,425 Reflected as: Current portion of long-term debt $ — $ 500 Long-term debt 3,906 3,925 Total long-term debt $ 3,906 $ 4,425 (1) The senior notes had variable interest rates based on LIBOR plus an applicable spread. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% (including a 0.60% margin). (2) 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, 2021 and 2020 that averaged 3.32%. Annual Payment on Long-Term Debt The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2022 $ — 2023 650 2024 1,050 2025 — 2026 284 2027 and thereafter 1,950 Total 3,934 Unamortized premium, discount and debt issuance cost (28) Total $ 3,906 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
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 United States federal and Iowa state income tax returns and the majority of the Company's United States federal income tax is remitted to or received from Berkshire Hathaway. 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. As of December 31, 2020, the Company had a current income tax receivable from Berkshire Hathaway for federal income tax of $13 million and a long-term income tax receivable from Berkshire Hathaway, reflected as a component of BHE's shareholders' equity, of $658 million for Iowa state income tax. Additionally, for the years ended December 31, 2021 and 2020 the Company generated $100 million and $138 million, respectively, of Iowa state net operating losses which were carried forward and increased the long-term income tax receivable from Berkshire Hathaway. The BHE GT&S acquisition on November 1, 2020 was treated as a deemed asset acquisition for federal and state income tax purposes due to Berkshire Hathaway and DEI making tax elections under Internal Revenue Code ("IRC") §338(h)(10) for all C-corporations acquired, the intent on making or having in place IRC §754 elections for any partnership interests purchased, and due to all single member LLCs acquired being treated as disregarded entities for income tax purposes. All deferred taxes at BHE GT&S were reset to reflect book and tax basis differences as of November 1, 2020. The primary deferred tax items recorded by the Company include long-term debt, pension and other postretirement liabilities, and intangible assets. Since the BHE GT&S acquisition is deemed an asset acquisition for federal and state income tax purposes, all of the approximately $0.9 billion of tax goodwill is amortizable over 15 years. At the acquisition date there is no deferred tax liability recorded for the difference between book goodwill of approximately $1.7 billion versus the tax goodwill of approximately $0.9 billion, due to the inability to record a deferred tax liability when book goodwill exceeds tax goodwill. Income tax (benefit) expense consists of the following for the years ended December 31 (in millions): 2021 2020 2019 Current: Federal $ (1,701) $ (1,537) $ (956) State (177) (121) (13) Foreign 100 86 81 (1,778) (1,572) (888) Deferred: Federal 1,037 1,438 431 State (476) 424 (127) Foreign 89 21 (8) 650 1,883 296 Investment tax credits (4) (3) (6) Total $ (1,132) $ 308 $ (598) 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (27) (16) (32) Effects of ratemaking (4) (3) (6) State income tax, net of federal income tax benefit (10) 3 (5) Non-controlling interest (2) — — Income tax effect of foreign income 1 — (2) Other, net — (1) (1) Effective income tax rate (21) % 4 % (25) % Income tax credits relate primarily to production tax credits ("PTC") from wind-powered generating facilities owned by MidAmerican Energy, PacifiCorp and BHE Renewables. Federal renewable electricity PTCs are earned as energy from qualifying wind-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. PTCs for the years ended December 31, 2021, 2020 and 2019 totaled $1.4 billion, $1.2 billion, and $0.8 billion, respectively. Income tax effect on foreign income includes, among other items, deferred income tax charges of $105 million and $35 million in 2021 and 2020, respectively, 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): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 1,349 $ 1,420 Federal, state and foreign carryforwards 820 677 AROs 304 304 Other 686 777 Total deferred income tax assets 3,159 3,178 Valuation allowances (164) (204) Total deferred income tax assets, net 2,995 2,974 Deferred income tax liabilities: Property-related items (11,814) (10,816) Investments (2,877) (2,821) Regulatory assets (764) (785) Other (478) (327) Total deferred income tax liabilities (15,933) (14,749) Net deferred income tax liability $ (12,938) $ (11,775) The following table provides the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2021 (in millions): Federal State Foreign Total Net operating loss carryforwards (1) $ 297 $ 9,013 $ 900 $ 10,210 Deferred income taxes on net operating loss carryforwards 63 506 207 776 Expiration dates 2022 - indefinite 2022 - indefinite 2028 - 2041 Tax credits $ 15 $ 29 $ — $ 44 Expiration dates 2023 - 2034 2022 - indefinite (1) The federal net operating loss carryforwards relate principally to net operating loss carryforwards of subsidiaries that are tax residents in both the United States and the United Kingdom. The federal net operating loss carryforwards were generated prior to Berkshire Hathaway Inc.'s ownership and will begin to expire in 2022. The United States 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 through December 31, 2011, for California, Michigan, Minnesota, Montana, Nebraska, Oregon, Utah and Wisconsin, and through December 31, 2017, except for the impact of any federal audit adjustments, for Connecticut, District of Columbia, Idaho, Illinois, Iowa, Kansas and New York. 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): 2021 2020 Beginning balance $ 153 $ 145 Additions based on tax positions related to the current year 24 19 Additions for tax positions of prior years 13 6 Reductions based on tax positions related to the current year (19) (14) Reductions for tax positions of prior years (83) (1) Statute of limitations — (4) Settlements (1) 1 Interest and penalties 10 1 Ending balance $ 97 $ 153 As of December 31, 2021 and 2020, the Company had unrecognized tax benefits totaling $100 million and $141 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): 2021 2020 2019 Current: Federal $ (150) $ 19 $ 158 State 7 30 34 Total (143) 49 192 Deferred: Federal 26 (124) (132) State 40 1 4 Total 66 (123) (128) Investment tax credits (2) (1) (3) Total income tax (benefit) expense $ (79) $ (75) $ 61 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % State income taxes, net of federal income tax benefit 3 3 3 Effects of ratemaking (14) (22) (13) Federal income tax credits (20) (13) (3) Other — — (1) Effective income tax rate (10) % (11) % 7 % 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. Effects of ratemaking is primarily attributable to activity associated with excess deferred income taxes. Excess deferred income tax amortization, net of deferrals, was $112 million for 2021, including the use of $4 million to amortize certain regulatory asset 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. Excess deferred income taxes amortization, net of deferrals, was $93 million for 2019, including the use of $91 million to accelerate depreciation of certain retired wind equipment for Oregon. The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 682 $ 700 Employee benefits 68 93 State carryforwards 73 73 Loss contingencies 63 63 Asset retirement obligations 73 65 Other 73 83 1,032 1,077 Deferred income tax liabilities: Property, plant and equipment (3,468) (3,311) Regulatory assets (332) (343) Other (79) (50) (3,879) (3,704) Net deferred income tax liability $ (2,847) $ (2,627) The following table provides PacifiCorp's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2021 (in millions): State Net operating loss carryforwards $ 1,138 Deferred income taxes on net operating loss carryforwards $ 53 Expiration dates 2023 - 2032 Tax credit carryforwards $ 20 Expiration dates 2022 - indefinite The United States 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 state income tax returns have expired through December 31, 2011, with the exception of Idaho, where the statute has expired through December 31, 2017, for all adjustments other than federal audit adjustments. The statute of limitations expiring 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): 2021 2020 2019 Current: Federal $ (736) $ (684) $ (478) State (92) (94) (47) (828) (778) (525) Deferred: Federal 189 201 166 State (35) 8 (11) 154 209 155 Investment tax credits (1) (1) (1) Total $ (675) $ (570) $ (371) 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (262) (199) (90) State income tax, net of federal income tax benefit (46) (27) (11) Effects of ratemaking (20) (17) (8) Other, net (1) (1) — Effective income tax rate (308) % (223) % (88) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. MidAmerican Energy's net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 240 $ 288 Asset retirement obligations 220 229 State carryforwards 55 52 Employee benefits 26 42 Other 30 40 Total deferred income tax assets 571 651 Valuation allowances (1) (25) Total deferred income tax assets, net 570 626 Deferred income tax liabilities: Depreciable property (3,843) (3,583) Regulatory assets (112) (97) Other (4) — Total deferred income tax liabilities (3,959) (3,680) Net deferred income tax liability $ (3,389) $ (3,054) As of December 31, 2021, MidAmerican Energy's state tax carryforwards, principally related to $823 million of net operating losses, expire at various intervals between 2022 and 2040. The United States 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 state income tax returns have expired through December 31, 2011, for Michigan and Nebraska, and through December 31, 2017, for Illinois, Indiana, Iowa, Kansas and Missouri, except for the impact of any federal audit adjustments. The statute of limitations expiring 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): 2021 2020 Beginning balance $ 8 $ 8 Additions based on tax positions related to the current year 16 4 Reductions based on tax positions related to the current year (11) (3) Reductions for tax positions of prior years — (1) Ending balance $ 13 $ 8 As of December 31, 2021, MidAmerican Energy had unrecognized tax benefits totaling $33 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): 2021 2020 2019 Current: Federal $ (739) $ (689) $ (480) State (94) (96) (49) (833) (785) (529) Deferred: Federal 189 204 164 State (35) 8 (11) 154 212 153 Investment tax credits (1) (1) (1) Total $ (680) $ (574) $ (377) 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (283) (209) (94) State income tax, net of federal income tax benefit (50) (29) (12) Effects of ratemaking (21) (17) (8) Other, net (2) (1) — Effective income tax rate (335) % (235) % (93) % Income tax credits relate primarily to production tax credits ("PTC") earned by MidAmerican Energy's wind-powered generating facilities. Federal renewable electricity PTCs are earned as energy from qualifying wind-powered generating facilities is produced and sold and are based on a per-kilowatt hour rate pursuant to the applicable federal income tax law. Wind-powered generating facilities are eligible for the credits for 10 years from the date the qualifying generating facilities are placed in-service. MidAmerican Funding's net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 240 $ 288 Asset retirement obligations 220 229 State carryforwards 55 52 Employee benefits 26 43 Other 30 40 Total deferred income tax assets 571 652 Valuation allowances (1) (25) Total deferred income tax assets, net 570 627 Deferred income tax liabilities: Depreciable property (3,843) (3,583) Regulatory assets (112) (97) Other (2) 1 Total deferred income tax liabilities (3,957) (3,679) Net deferred income tax liability $ (3,387) $ (3,052) As of December 31, 2021, MidAmerican Funding's state tax carryforwards, principally related to $823 million of net operating losses, expire at various intervals between 2022 and 2040. The United States 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 state income tax returns have expired through December 31, 2011, for Michigan and Nebraska, and through December 31, 2017, for Illinois, Indiana, Iowa, Kansas and Missouri, except for the impact of any federal audit adjustments. The statute of limitations expiring 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): 2021 2020 Beginning balance $ 8 $ 8 Additions based on tax positions related to the current year 16 4 Reductions based on tax positions related to the current year (11) (3) Reductions for tax positions of prior years — (1) Ending balance $ 13 $ 8 As of December 31, 2021, MidAmerican Funding had unrecognized tax benefits totaling $33 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): 2021 2020 2019 Current – Federal $ 37 $ 57 $ 105 Deferred – Federal — (10) (31) Investment tax credits — — (1) Total income tax expense $ 37 $ 47 $ 73 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (11) (8) — Other 1 1 1 Effective income tax rate 11 % 14 % 22 % The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 195 $ 206 Operating and finance leases 73 79 Customer advances 25 19 Unamortized contract value 25 8 Other 8 15 Total deferred income tax assets 326 327 Deferred income tax liabilities: Property related items (800) (800) Regulatory assets (204) (176) Operating and finance leases (70) (76) Other (34) (13) Total deferred income tax liabilities (1,108) (1,065) Net deferred income tax liability $ (782) $ (738) The United States Internal Revenue Service has closed its examination of NV Energy's consolidated income tax returns through December 31, 2008, and effectively settled its examination of Nevada Power's income tax return for the short year ended December 31, 2013, and the statute of limitations has expired for NV Energy's consolidated income tax returns through the short year ended December 19, 2013. The closure or effective settlement of examinations, or the expiration of the statute of limitations may not preclude the Internal Revenue Service from adjusting the federal net operating loss carryforward utilized in a year for which the examination is not closed. |
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): 2021 2020 2019 Current – Federal $ 5 $ 3 $ 19 Deferred – Federal 13 12 10 Investment tax credits — — (1) Total income tax expense $ 18 $ 15 $ 28 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (8) (9) — Effective income tax rate 13 % 12 % 21 % The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 64 $ 67 Operating and finance leases 27 30 Customer advances 14 10 Unamortized contract value 8 2 Other 6 8 Total deferred income tax assets 119 117 Deferred income tax liabilities: Property related items (379) (380) Regulatory assets (94) (74) Operating and finance leases (27) (30) Other (21) (7) Total deferred income tax liabilities (521) (491) Net deferred income tax liability $ (402) $ (374) The United States Internal Revenue Service has closed its examination of NV Energy's consolidated income tax returns through December 31, 2008, and effectively settled its examination of Sierra Pacific's income tax return for the short year ended December 31, 2013, and the statute of limitations has expired for NV Energy's consolidated income tax returns through the short year ended December 19, 2013. The closure or effective settlement of examinations, or the expiration of the statute of limitations may not preclude the Internal Revenue Service from adjusting the federal net operating loss carryforward utilized in a year for which the examination 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): 2021 2020 2019 Current: Federal $ (47) $ (20) $ 130 State (21) 1 17 (68) (19) 147 Deferred: Federal 129 23 (36) State 56 (28) (10) 185 (5) (46) Total $ 117 $ (24) $ 101 Income tax expense reported in discontinued operations for the year ended December 31, 2019 was $33 million. 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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 3 (13) 1 Equity interest 1 4 1 Effects of ratemaking 1 (2) (1) Change in tax status — (9) (4) AFUDC-equity — (1) (1) Noncontrolling interest (11) (16) (3) Write-off of regulatory assets — 3 — Other, net 1 1 (1) Effective income tax rate 16 % (12) % 13 % For the year ended December 31, 2021, 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 GT&S Transaction resulted in a change of Cove Point's noncontrolling interest from 25% to 75% as of November 1, 2020. The net deferred income tax (liability) asset consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Federal and state carryforwards $ 7 $ — Employee benefits 33 30 Intangibles 150 148 Derivatives and hedges 16 18 Other 9 4 Total deferred income tax assets 215 200 Deferred income tax liabilities: Property related items (129) (52) Partnership investments (49) (19) Debt exchange (60) — Deferred state income taxes (16) — Debt issuance discount (7) (8) Other (9) (2) Total deferred income tax liabilities (270) (81) Net deferred income tax (liability) asset (1) $ (55) $ 119 (1) Net deferred income tax liability as of December 31, 2021 is presented in other assets and other long-term liabilities in the Consolidated Balance Sheet. Net deferred income tax asset as of December 31, 2020 is presented in other assets in the Consolidated Balance Sheet. The significant change in net deferred taxes is due to higher tax depreciation due to the GT&S Transaction being treated as a deemed asset sale for federal and state income tax purposes, the debt exchange at EGTS and partnership income from Cove Point. As of December 31, 2021, Eastern Energy Gas' $7 million of state net operating losses, entirely related to West Virginia, can be carried forward indefinitely. 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 statute of limitations for Eastern Energy Gas' income tax returns filed for periods after November 1, 2020 remain open for examination for federal and Connecticut, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia. A reconciliation of the beginning and ending balances of Eastern Energy Gas' net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2021 2020 Beginning balance $ — $ 2 Additions for tax positions of prior years — 5 Reductions for unrecognized tax benefits retained by DEI — (7) Ending balance $ — $ — |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2021 | |
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. On November 1, 2020, BHE completed its acquisition of substantially all of the natural gas transmission and storage business of DEI and Dominion Questar, exclusive of the Questar Pipeline Group (the "GT&S Transaction"). Defined benefit pension and postretirement benefits provided to the employees of BHE GT&S, which were part of the GT&S Transaction completed on November 1, 2020, are administered in the respective plans sponsored by MidAmerican Energy. Initial pension and postretirement plan liabilities of $81 million and $37 million, respectively, resulted from the GT&S Transaction. 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 2021 2020 2019 2021 2020 2019 Service cost $ 30 $ 17 $ 16 $ 12 $ 7 $ 8 Interest cost 78 93 111 19 21 27 Expected return on plan assets (134) (140) (154) (22) (34) (40) Settlement 3 — — — — — Net amortization 25 32 31 (3) (4) (6) Net periodic benefit cost (credit) $ 2 $ 2 $ 4 $ 6 $ (10) $ (11) 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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 2,824 $ 2,656 $ 744 $ 742 Employer contributions 13 13 14 3 Participant contributions — — 9 8 Actual return on plan assets 234 373 53 40 Settlement (134) — — — Benefits paid (142) (218) (51) (49) Plan assets at fair value, end of year $ 2,795 $ 2,824 $ 769 $ 744 The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2021 2020 2021 2020 Benefit obligation, beginning of year $ 3,077 $ 2,878 $ 758 $ 673 Service cost 30 17 12 7 Interest cost 78 93 19 21 Participant contributions — — 9 8 Actuarial (gain) loss (132) 226 (35) 61 Amendment — — 2 — Settlement (134) — — — Acquisition — 81 — 37 Benefits paid (142) (218) (51) (49) Benefit obligation, end of year $ 2,777 $ 3,077 $ 714 $ 758 Accumulated benefit obligation, end of year $ 2,713 $ 2,999 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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 2,795 $ 2,824 $ 769 $ 744 Benefit obligation, end of year 2,777 3,077 714 758 Funded status $ 18 $ (253) $ 55 $ (14) Amounts recognized on the Consolidated Balance Sheets: Other assets $ 204 $ 43 $ 60 $ 20 Other current liabilities (13) (13) — — Other long-term liabilities (173) (283) (5) (34) Amounts recognized $ 18 $ (253) $ 55 $ (14) 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 $343 million and $303 million as of December 31, 2021 and 2020, 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 2021 2020 2021 2020 Fair value of plan assets $ — $ 1,782 $ 137 $ 417 Projected benefit obligation $ 186 $ 2,069 $ 142 $ 451 Fair value of plan assets $ — $ 1,064 Accumulated benefit obligation $ 185 $ 1,341 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 2021 2020 2021 2020 Net loss (gain) $ 343 $ 612 $ (34) $ 34 Prior service credit (1) (1) (1) (9) Regulatory deferrals 11 2 2 3 Total $ 353 $ 613 $ (33) $ 28 A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2021 and 2020 is as follows (in millions): Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Pension Balance, December 31, 2019 $ 661 $ (33) $ 24 $ 652 Net (gain) loss arising during the year (30) 13 10 (7) Net amortization (31) — (1) (32) Total (61) 13 9 (39) 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 Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Other Postretirement Balance, December 31, 2019 $ 4 $ (32) $ (3) $ (31) Net loss arising during the year 36 12 7 55 Net amortization 7 (3) — 4 Total 43 9 7 59 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) Plan Assumptions Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 2.98 % 2.60 % 3.32 % 2.95 % 2.59 % 3.24 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2019 N/A N/A 3.22 % N/A N/A N/A 2020 N/A 2.44 % 2.94 % N/A N/A N/A 2021 2.45 % 2.25 % 2.94 % N/A N/A N/A 2022 2.56 % 2.25 % 3.02 % N/A N/A N/A 2023 2.56 % 2.65 % 3.02 % N/A N/A N/A 2024 and beyond 2.83 % 2.65 % 3.02 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.60 % 3.32 % 4.25 % 2.59 % 3.24 % 4.21 % Expected return on plan assets 5.39 % 5.94 % 6.48 % 3.35 % 5.42 % 6.39 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rate for cash balance plan 2.45 % 2.44 % 3.22 % 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. 2021 2020 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.00 % 6.30 % 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 2025 2025 Contributions and Benefit Payments Employer contributions to the pension and other postretirement benefit plans are expected to be $13 million and $5 million, respectively, during 2022. 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 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Other Pension Postretirement 2022 $ 210 $ 54 2023 203 54 2024 195 54 2025 193 53 2026 193 51 2027-2031 837 229 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 advisors to manage 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, 2021: Other Pension Postretirement % % PacifiCorp: Debt securities (1) 55-85 70-80 Equity securities (1) 25-35 20-30 Limited partnership interests 0-10 0-1 MidAmerican Energy: Debt securities (1) 60-80 25-35 Equity securities (1) 20-40 65-75 Other 0-15 0-5 NV Energy: Debt securities (1) 85-100 67-88 Equity securities (1) 0-15 12-33 (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, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: United States government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 79 $ 79 Debt securities: United States government obligations 52 — 52 Corporate obligations — 748 748 Municipal obligations — 69 69 Equity securities: United States companies 224 — 224 Total assets in the fair value hierarchy $ 276 $ 896 1,172 Investment funds (2) measured at net asset value 1,521 Limited partnership interests (3) measured at net asset value 88 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 2,824 (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 54% and 46%, respectively, for 2021 and 69% and 31%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 89% and 11%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: United States government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ 20 $ 2 $ 22 Debt securities: United States government obligations 15 — 15 Corporate obligations — 102 102 Municipal obligations — 82 82 Agency, asset and mortgage-backed obligations — 47 47 Equity securities: United States companies 6 — 6 Investment funds (2) 299 — 299 Total assets in the fair value hierarchy $ 340 $ 233 573 Investment funds (2) measured at net asset value 167 Limited partnership interests (3) measured at net asset value 4 Total assets measured at fair value $ 744 (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 2021 and 40% and 60%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 88% and 12%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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 cost for the UK Plan included the following components for the years ended December 31 (in millions): 2021 2020 2019 Service cost $ 16 $ 16 $ 16 Interest cost 31 40 49 Expected return on plan assets (111) (101) (100) Settlement 10 17 26 Net amortization 55 43 46 Net periodic benefit cost $ 1 $ 15 $ 37 Funded Status The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): 2021 2020 Plan assets at fair value, beginning of year $ 2,334 $ 2,151 Employer contributions 28 56 Participant contributions 1 1 Actual return on plan assets 148 181 Settlement (51) (63) Benefits paid (72) (67) Foreign currency exchange rate changes (25) 75 Plan assets at fair value, end of year $ 2,363 $ 2,334 The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): 2021 2020 Benefit obligation, beginning of year $ 2,205 $ 2,019 Service cost 16 16 Interest cost 31 40 Participant contributions 1 1 Actuarial (gain) loss (105) 188 Settlement (51) (63) Benefits paid (72) (67) Foreign currency exchange rate changes (22) 71 Benefit obligation, end of year $ 2,003 $ 2,205 Accumulated benefit obligation, end of year $ 1,778 $ 1,963 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): 2021 2020 Plan assets at fair value, end of year $ 2,363 $ 2,334 Benefit obligation, end of year 2,003 2,205 Funded status $ 360 $ 129 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 360 $ 129 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): 2021 2020 Net loss $ 400 $ 612 Prior service cost 5 6 Total $ 405 $ 618 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): 2021 2020 Balance, beginning of year $ 618 $ 549 Net loss arising during the year (143) 108 Settlement (10) (17) Net amortization (55) (43) Foreign currency exchange rate changes (5) 21 Total (213) 69 Balance, end of year $ 405 $ 618 Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: 2021 2020 2019 Benefit obligations as of December 31: Discount rate 1.95 % 1.40 % 2.10 % Rate of compensation increase 3.45 % 3.05 % 3.30 % Rate of future price inflation 2.95 % 2.55 % 2.80 % Net periodic benefit cost for the years ended December 31: Discount rate 1.40 % 2.10 % 2.90 % Expected return on plan assets 4.85 % 5.00 % 5.10 % Rate of compensation increase 3.05 % 3.30 % 3.55 % Rate of future price inflation 2.55 % 2.80 % 3.05 % Contributions and Benefit Payments Employer contributions to the UK Plan are expected to be £12 million during 2022. The expected benefit payments to participants in the UK Plan for 2022 through 2026 and for the five years thereafter, excluding lump sum settlement elections and using the foreign currency exchange rate as of December 31, 2021, are summarized below (in millions): 2022 $ 73 2023 75 2024 77 2025 79 2026 81 2027-2031 436 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, 2021: % 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, 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 As of December 31, 2020: Cash equivalents $ 5 $ 49 $ — $ 54 Debt securities: United Kingdom government obligations 1,102 — — 1,102 Equity securities: Investment funds (2) — 833 — 833 Real estate funds — — 237 237 Total $ 1,107 $ 882 $ 237 2,226 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,334 (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 23% and 77%, respectively, for 2021 and 40% and 60%, respectively, for 2020. 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 2021 2020 2019 Beginning balance $ 237 $ 243 $ 239 Actual return on plan assets still held at period end 35 (13) (5) Foreign currency exchange rate changes (3) 7 9 Ending balance $ 269 $ 237 $ 243 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 $137 million, $127 million and $115 million for the years ended December 31, 2021, 2020 and 2019, 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 2021 as a result of the amount of lump sum distributions in the Retirement Plan during 2021 exceeding the service and interest cost threshold. This resulted in 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 the year ended December 31, 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 2021 2020 2019 2021 2020 2019 Service cost $ — $ — $ — $ 2 $ 2 $ 2 Interest cost 29 36 44 7 9 12 Expected return on plan assets (51) (56) (67) (9) (14) (21) Settlement 6 — — — — — Net amortization 21 18 11 1 3 — Net periodic benefit cost (credit) $ 5 $ (2) $ (12) $ 1 $ — $ (7) 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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 1,064 $ 1,036 $ 327 $ 334 Employer contributions (1) 5 5 1 — Participant contributions — — 6 4 Actual return on plan assets 109 124 14 15 Settlement (2) (52) — — — Benefits paid (68) (101) (24) (26) Plan assets at fair value, end of year $ 1,058 $ 1,064 $ 324 $ 327 (1) 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 2021 2020 2021 2020 Benefit obligation, beginning of year $ 1,202 $ 1,167 $ 307 $ 304 Service cost — — 2 2 Interest cost 29 36 7 9 Participant contributions — — 6 4 Actuarial (gain) loss (63) 100 (10) 14 Settlement (1) (52) — — — Benefits paid (68) (101) (24) (26) Benefit obligation, end of year $ 1,048 $ 1,202 $ 288 $ 307 Accumulated benefit obligation, end of year $ 1,048 $ 1,202 (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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 1,058 $ 1,064 $ 324 $ 327 Less - Benefit obligation, end of year 1,048 1,202 288 307 Funded status $ 10 $ (138) $ 36 $ 20 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 63 $ 8 $ 36 $ 20 Accrued employee expenses (4) (4) — — Other long-term liabilities (49) (142) — — Amounts recognized $ 10 $ (138) $ 36 $ 20 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 $69 million and $61 million as of December 31, 2021 and 2020, 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, 2021 and 2020, respectively, on the Consolidated Balance Sheets. As of December 31, 2021, 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 2021 2020 2021 2020 Net loss (gain) $ 298 $ 455 $ (28) $ (13) Regulatory deferrals (1) 11 2 2 3 Total $ 309 $ 457 $ (26) $ (10) (1) Includes $9 million of deferrals associated with 2021 pension settlement losses. A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2021 and 2020 is as follows (in millions): Accumulated Other Regulatory Comprehensive Asset Loss Total Pension Balance, December 31, 2019 $ 422 $ 21 $ 443 Net loss arising during the year 27 5 32 Net amortization (17) (1) (18) Total 10 4 14 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 Regulatory Liability Other Postretirement Balance, December 31, 2019 $ (20) Net loss arising during the year 13 Net amortization (3) Total 10 Balance, December 31, 2020 (10) Net gain arising during the year (15) Net amortization (1) Total (16) Balance, December 31, 2021 $ (26) Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 2.90 % 2.50 % 3.25 % 2.90 % 2.50 % 3.20 % 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 2019 N/A N/A 3.40 % N/A N/A N/A 2020 N/A 2.27 % 2.27 % N/A N/A N/A 2021 0.82 % 0.82 % 2.27 % N/A N/A N/A 2022 0.88 % 0.82 % 2.10 % N/A N/A N/A 2023 0.88 % 2.00 % 2.10 % N/A N/A N/A 2024 and beyond 1.90 % 2.00 % 2.10 % N/A N/A N/A Interest crediting rates for cash balance plan - union 2019 N/A N/A 3.15 % N/A N/A N/A 2020 N/A 2.16 % 2.16 % N/A N/A N/A 2021 1.42 % 1.42 % 2.16 % N/A N/A N/A 2022 1.94 % 1.42 % 2.70 % N/A N/A N/A 2023 1.94 % 2.40 % 2.70 % N/A N/A N/A 2024 and beyond 2.30 % 2.40 % 2.70 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.50 % 3.25 % 4.25 % 2.50 % 3.20 % 4.25 % Expected return on plan assets 6.00 6.50 7.00 2.90 4.92 6.86 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 2022. 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 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2022 $ 96 $ 24 2023 85 23 2024 79 22 2025 76 21 2026 71 20 2027-2031 304 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 advisors to manage 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, 2021: Pension (1) Other Postretirement (1) % % Debt securities (2) 55 - 85 70 - 80 Equity securities (2) 25- 35 20 - 30 Other 0 - 10 0 - 1 (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, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: United States government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 32 $ — $ 32 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 231 — 231 Municipal obligations — 21 — 21 Equity securities: United States companies 91 — — 91 Total assets in the fair value hierarchy $ 105 $ 284 $ — $ 389 Investment funds (2) measured at net asset value 587 Limited partnership interests (3) measured at net asset value 88 Investments at fair value $ 1,064 (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 59% and 41%, respectively, for 2021 and 78% and 22%, respectively, for 2020, and are invested in United States and international securities of approximately 84% and 16%, respectively, for 2021 and 74% and 26%, respectively, for 2020. (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, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: United States government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: United States 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 As of December 31, 2020: Cash and cash equivalents $ 8 $ 1 $ — $ 9 Debt securities: United States government obligations 11 — — 11 Corporate obligations — 86 — 86 Municipal obligations — 16 — 16 Agency, asset and mortgage-backed obligations — 44 — 44 Equity securities: United States companies 4 — — 4 Total assets in the fair value hierarchy $ 23 $ 147 $ — 170 Investment funds (2) measured at net asset value 153 Limited partnership interests (3) measured at net asset value 4 Investments at fair value $ 327 (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 39% and 61%, respectively, for 2021 and 38% and 62%, respectively, for 2020, and are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 93% and 7%, respectively, for 2020. (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 plan funded status percentage for plan years beginning July 1, Contributions (1) Plan name Employer Identification Number 2021 2020 2019 Funding improvement plan Surcharge imposed under PPA of 2006 (1) 2021 2020 2019 Year contributions to plan exceeded more than 5% of total contributions (2) Local 57 Trust Fund 87-0640888 At least 80% At least 80% At least 80% None None $ 6 $ 6 $ 7 2019, 2018, 2017 (1) PacifiCorp's minimum contributions to the plan 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. (2) For the Local 57 Trust Fund, information is for plan years beginning July 1, 2019, 2018 and 2017. Information for the plan year beginning July 1, 2020 is not yet available. The current collective bargaining agreements governing the Local 57 Trust Fund expire in 2023. Defined Contribution Plan |
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. In 2021, the defined benefit pension plan recorded a settlement gain of $5 million for previously unrecognized gains as a result of excess lump sum distributions over the defined threshold for the year ended December 31, 2021. 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. On November 1, 2020, BHE completed its acquisition of substantially all of the natural gas transmission and storage business of Dominion Energy, Inc. and Dominion Energy Questar Corporation, exclusive of Dominion Energy Questar Pipeline, LLC and related entities (the "GT&S Transaction"). Defined benefit pension and postretirement benefits provided to the employees of GT&S are administered in the respective plans sponsored by MidAmerican Energy. Initial pension and postretirement plan liabilities of $81 million and $37 million, respectively, resulted from the GT&S Transaction and are included in plan obligations and affiliate receivables on MidAmerican Energy's Balance Sheet. 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 2021, 2020 and 2019, MidAmerican Energy's share of the pension net periodic benefit (credit) cost was $(20) million, $(13) million and $(8) million, respectively. MidAmerican Energy's share of the other postretirement net periodic benefit (credit) cost in 2021, 2020 and 2019 totaled $1 million, $(5) million and $1 million, respectively. Net periodic benefit cost 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 2021 2020 2019 2021 2020 2019 Service cost $ 20 $ 8 $ 6 $ 9 $ 4 $ 5 Interest cost 22 25 30 8 7 10 Expected return on plan assets (37) (40) (41) (10) (14) (13) Settlement (5) — — — — — Net amortization 1 1 1 (4) (5) (3) Net periodic benefit cost (credit) $ 1 $ (6) $ (4) $ 3 $ (8) $ (1) 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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 718 $ 717 $ 278 $ 272 Employer contributions 8 6 10 3 Participant contributions — — 1 1 Actual return on plan assets 58 55 34 15 Settlement (46) — — — Benefits paid (34) (60) (15) (13) Plan assets at fair value, end of year $ 704 $ 718 $ 308 $ 278 The following table is a reconciliation of the benefit obligations for the years ended December 31 (in millions): Pension Other Postretirement 2021 2020 2021 2020 Benefit obligation, beginning of year $ 845 $ 763 $ 304 $ 226 Service cost 20 8 9 4 Interest cost 22 25 8 7 Participant contributions — — 1 1 Actuarial (gain) loss (25) 28 (18) 42 Plan amendments — — 1 — Settlement (46) — — — Acquisition (1) 81 (5) 37 Benefits paid (34) (60) (15) (13) Benefit obligation, end of year $ 781 $ 845 $ 285 $ 304 Accumulated benefit obligation, end of year $ 721 $ 773 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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 704 $ 718 $ 308 $ 278 Less - Benefit obligation, end of year 781 845 285 304 Funded status $ (77) $ (127) $ 23 $ (26) Amounts recognized on the Balance Sheets: Other assets $ 34 $ — $ 23 $ — Other current liabilities (7) (7) — — Other liabilities (104) (120) — (26) Amounts recognized $ (77) $ (127) $ 23 $ (26) 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 $143 million and $130 million as of December 31, 2021 and 2020. 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 $111 million and $111 million for 2021 and $117 million and $117 million for 2020, 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 2021 2020 2021 2020 Net (gain) loss $ (25) $ 18 $ 2 $ 45 Prior service (credit) cost — — (3) (9) Total $ (25) $ 18 $ (1) $ 36 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, 2021 and 2020 is as follows (in millions): Regulatory Asset Regulatory Liability Receivables (Payables) with Affiliates Total Pension Balance, December 31, 2019 $ 19 $ (32) $ 18 $ 5 Net (gain) loss arising during the year 3 12 (1) 14 Net amortization (1) — — (1) Total 2 12 (1) 13 Balance, December 31, 2020 21 (20) 17 18 Net loss (gain) arising during the year 2 (40) (9) (47) Net amortization (1) — — (1) Settlement — 5 — 5 Total 1 (35) (9) (43) Balance, December 31, 2021 $ 22 $ (55) $ 8 $ (25) Regulatory Receivables (Payables) with Affiliates Total Other Postretirement Balance, December 31, 2019 $ 7 $ (17) $ (10) Net gain arising during the year 34 7 41 Net amortization 4 1 5 Total 38 8 46 Balance, December 31, 2020 45 (9) 36 Net loss arising during the year (29) (13) (42) Net prior service cost arising during the year 1 — 1 Net amortization 3 1 4 Total (25) (12) (37) Balance, December 31, 2021 $ 20 $ (21) $ (1) Plan Assumptions Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 3.05 % 2.75 % 3.40 % 2.95 % 2.65 % 3.20 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2019 N/A N/A 3.40 % N/A N/A N/A 2020 N/A 2.27 % 2.27 % N/A N/A N/A 2021 1.19 % 0.99 % 2.27 % N/A N/A N/A 2022 1.19 % 0.99 % 2.27 % N/A N/A N/A 2023 1.19 % 0.99 % 2.27 % N/A N/A N/A 2024 and beyond 1.19 % 0.99 % 2.27 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.75 % 3.40 % 4.25 % 2.65 % 3.20 % 4.15 % Expected return on plan assets (1) 5.60 % 6.25 % 6.50 % 4.00 % 6.00 % 6.25 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 1.19 % 2.27 % 3.40 % 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 2.39% for 2021, 4.62% for 2020 and 4.62% for 2019. 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. 2021 2020 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 5.90 % 6.20 % 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 2025 2025 Contributions and Benefit Payments Employer contributions to the pension and other postretirement benefit plans are expected to be $7 million and $3 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 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2022 $ 56 $ 21 2023 55 22 2024 54 22 2025 52 22 2026 51 22 2027-2031 229 98 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 advisors to manage 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, 2021: Pension Other Postretirement % % Debt securities (1) 60-80 25-35 Equity securities (1) 20-40 65-75 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, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: United States government obligations 33 — — 33 International government obligations — — — — Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: United States companies 35 — — 35 Total assets in the hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 As of December 31, 2020: Cash equivalents $ — $ 26 $ — $ 26 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 160 — 160 Municipal obligations — 17 — 17 Agency, asset and mortgage-backed obligations — — — — Equity securities: United States companies 65 — — 65 Total assets in the hierarchy $ 79 $ 203 $ — 282 Investment funds (2) measured at net asset value 393 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 718 (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 56% and 44%, respectively, for 2021 and 65% and 35%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 82% and 18%, respectively, for 2020. 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, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: United States 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 As of December 31, 2020: Cash equivalents $ 11 $ — $ — $ 11 Debt securities: United States government obligations 3 — — 3 Corporate obligations — 7 — 7 Municipal obligations — 65 — 65 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 189 — — 189 Total assets measured at fair value $ 203 $ 75 $ — $ 278 (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 2021 and 56% and 44%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 82% and 18%, respectively, for 2021 and 56% and 44%, respectively, for 2020. 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 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): 2021 2020 2019 Pension costs $ 21 $ 7 $ 4 Other postretirement costs 2 (3) (2) |
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, 2021, 2020 and 2019. Nevada Power contributed $1 million to the Non-Qualified Pension Plans for the years ended December 31, 2021, 2020 and 2019. Nevada Power did not make any contributions to the Other Postretirement Plans for the years ended December 31, 2021, 2020 and 2019. 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): 2021 2020 Qualified Pension Plan - Other non-current assets $ 42 $ 8 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (8) (9) Other Postretirement Plans - Other non-current assets 8 4 |
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, 2021, 2020 and 2019. Sierra Pacific contributed $1 million to the Non-Qualified Pension Plans for the years ended December 31, 2021, 2020 and 2019. Sierra Pacific contributed $1 million to the Other Post Retirement Plan for the year ended December 31, 2021. Sierra Pacific did not make any contributions to the Other Post Retirement Plans for the years ended December 31, 2020 and 2019. 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): 2021 2020 Qualified Pension Plan - Other non-current assets $ 62 $ 26 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (7) (8) Other Postretirement Plans - Other long-term liabilities (10) (13) |
EEGH | |
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 $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 $18 million and $3 million of contributions to the MidAmerican Energy Company Retirement Plan for the years ended December 31, 2021 and 2020, respectively. Eastern Energy Gas made $10 million and $2 million of contributions to the MidAmerican Energy Company Welfare Benefit Plan for the years ended December 31, 2021 and 2020, respectively. 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 $5 million and $1 million for the years ended December 31, 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 and $(8) million for the years ended December 31, 2020 and 2019, respectively. Net periodic pension (credit) cost is reflected in other operations and maintenance expense in the Consolidated Statements of Operations, except for $(14) million of Eastern Energy Gas' costs for the year ended December 31, 2019 that are recorded in net income from discontinued 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 and $(4) million for the years ended December 31, 2020 and 2019, respectively. Net periodic benefit (credit) cost is reflected in other operations and maintenance expense in the Consolidated Statements of Operations, except for less than $(1) million of Eastern Energy Gas' costs for the year ended December 31, 2019 that are recorded in net income from discontinued 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. Eastern Energy Gas included the separate pension and other postretirement benefit plans for East Ohio employees covered by collective bargaining units through November 2019, the effective date of the Dominion Energy Gas Restructuring. See Note 3 for more information on the Dominion Energy Gas Restructuring. 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. Voluntary Retirement Program In March 2019, Eastern Energy Gas announced a voluntary retirement program to employees that met certain age and service requirements. The voluntary retirement program will not compromise safety or Eastern Energy Gas' ability to comply with applicable laws and regulations. In 2019, upon the determinations made concerning the number of employees that elected to participate in the program, Eastern Energy Gas recorded a charge of $74 million ($58 million after-tax) included within operations and maintenance expense ($41 million), other income ($1 million) and discontinued operations ($32 million) in the Consolidated Statements of Operations. In the second quarter of 2019, Eastern Energy Gas remeasured its pension and other postretirement benefit plans as a result of the voluntary retirement program. The impact of the remeasurement on net periodic benefit cost (credit) was recognized prospectively from the remeasurement date. The discount rate used for the remeasurement was 4.10% for the Eastern Energy Gas pension plans and 4.05% for the Eastern Energy Gas other postretirement benefit plans. All other assumptions used for the remeasurement were consistent with the measurement as of December 31, 2018. Net Periodic Benefit Credit Net periodic benefit credit for the plans included the following components for the years ended December 31 (in millions): Pension Other Postretirement 2020 2019 2020 2019 Service cost $ 5 $ 6 $ 1 $ 1 Interest cost 8 11 4 5 Expected return on plan assets (47) (54) (16) (16) Settlement — 1 — 1 Net amortization 5 7 (3) (2) Net periodic benefit credit $ (29) $ (29) $ (14) $ (11) Significant assumptions used to determine periodic credits for the years ended December 31: Pension Other Postretirement 2020 2019 2020 2019 Discount rate 3.16% - 3.63% 4.10% - 4.42% 3.44 % 4.05% - 4.37% Expected long-term rate of return on plan assets 8.60 % 8.65 % 8.50 % 8.50 % Weighted average rate of increase for compensation 4.73 % 4.55 % N/A N/A Healthcare cost trend rate 6.50 % 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % 5.00 % Year that the rate reached the ultimate trend rate 2026 2025 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 and $4 million for the years ended December 31, 2020 and 2019, respectively. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2021 | |
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 $2.4 billion as of December 31, 2021 and 2020. The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): 2021 2020 Fossil fuel facilities $ 466 $ 529 Quad Cities Station 427 376 Wind generating facilities 299 273 Solar generating facilities 25 24 Offshore pipeline facilities 14 16 Other 109 123 Total asset retirement obligations $ 1,340 $ 1,341 Quad Cities Station nuclear decommissioning trust funds $ 768 $ 676 The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): 2021 2020 Beginning balance $ 1,341 $ 1,272 Change in estimated costs 81 46 Acquisitions — 122 Additions 15 51 Retirements (144) (201) Accretion 47 51 Ending balance $ 1,340 $ 1,341 Reflected as: Other current liabilities $ 130 $ 184 Other long-term liabilities 1,210 1,157 Total ARO liability $ 1,340 $ 1,341 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. |
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 $1,187 million and $1,125 million as of December 31, 2021 and 2020, respectively. The following table reconciles the beginning and ending balances of PacifiCorp's ARO liabilities for the years ended December 31 (in millions): 2021 2020 Beginning balance $ 270 $ 257 Change in estimated costs 40 (11) Additions — 25 Retirements (15) (10) Accretion 9 9 Ending balance $ 304 $ 270 Reflected as: Other current liabilities $ 5 $ 13 Other long-term liabilities 299 257 $ 304 $ 270 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 $394 million and $466 million as of December 31, 2021 and 2020, respectively. The following table presents MidAmerican Energy's ARO liabilities by asset type as of December 31 (in millions): 2021 2020 Quad Cities Station $ 427 $ 376 Fossil-fueled generating facilities 161 255 Wind-powered generating facilities 197 185 Other 2 2 Total asset retirement obligations $ 787 $ 818 Quad Cities Station nuclear decommissioning trust funds (1) $ 768 $ 676 (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): 2021 2020 Beginning balance $ 818 $ 839 Change in estimated costs 35 47 Additions 6 23 Retirements (103) (124) Accretion 31 33 Ending balance $ 787 $ 818 Reflected as: Other current liabilities $ 73 $ 109 Asset retirement obligations 714 709 $ 787 $ 818 Retirements in 2021 and 2020 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 $348 million and $340 million as of December 31, 2021 and 2020, respectively. The following table presents Nevada Power's ARO liabilities by asset type as of December 31 (in millions): 2021 2020 Waste water remediation $ 37 $ 36 Evaporative ponds and dry ash landfills 13 13 Solar 3 3 Other 15 20 Total asset retirement obligations $ 68 $ 72 The following table reconciles the beginning and ending balances of Nevada Power's ARO liabilities for the years ended December 31 (in millions): 2021 2020 Beginning balance $ 72 $ 74 Change in estimated costs — 9 Retirements (6) (14) Accretion 2 3 Ending balance $ 68 $ 72 Reflected as: Other current liabilities $ 19 $ 25 Other long-term liabilities 49 47 $ 68 $ 72 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 $201 million and $197 million as of December 31, 2021 and 2020, respectively. The following table presents Sierra Pacific's ARO liabilities by asset type as of December 31 (in millions): 2021 2020 Asbestos $ 5 $ 5 Evaporative ponds and dry ash landfills 3 3 Other 3 3 Total asset retirement obligations $ 11 $ 11 The following table reconciles the beginning and ending balances of Sierra Pacific's ARO liabilities for the years ended December 31 (in millions): 2021 2020 Beginning balance $ 11 $ 10 Accretion — 1 Ending balance $ 11 $ 11 Reflected as - Other long-term liabilities $ 11 $ 11 |
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 $73 million and $88 million as of December 31, 2021 and 2020, 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): 2021 2020 Beginning balance $ 71 $ 89 Change in estimated costs — (51) Additions — 48 Retirements (17) (3) Disposal of Questar Pipeline Group — (16) Accretion 1 4 Ending balance $ 55 $ 71 Reflected as: Current liabilities $ 33 $ 36 Other long-term liabilities 22 35 Total ARO liability $ 55 $ 71 |
Risk Management and Hedging Act
Risk Management and Hedging Activities | 12 Months Ended |
Dec. 31, 2021 | |
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, 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 As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 29 $ 6 $ 1 $ — $ 36 Commodity liabilities (2) — (23) (28) (53) Total 27 6 (22) (28) (17) Total derivatives 27 6 (22) (28) (17) Cash collateral receivable — — 15 9 24 Total derivatives - net basis $ 27 $ 6 $ (7) $ (19) $ 7 (1) PacifiCorp's commodity derivatives are generally included in rates. As of December 31, 2021 a regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. As of December 31, 2020 regulatory asset of $17 million was recorded related to the net derivative liability of $17 million. The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): 2021 2020 2019 Beginning balance $ 17 $ 62 $ 96 Changes in fair value recognized in regulatory assets (171) (11) (37) Net (losses) gains reclassified to operating revenue (23) 3 (34) Net gains (losses) reclassified to energy costs 124 (37) 37 Ending balance $ (53) $ 17 $ 62 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 2021 2020 Electricity purchases (sales), net Megawatt hours 2 (1) Natural gas purchases Decatherms 106 100 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, 2021, 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 $37 million and $51 million as of December 31, 2021 and 2020, respectively, for which PacifiCorp had posted collateral of $5 million and $24 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, 2021 and 2020, PacifiCorp would have been required to post $23 million and $25 million, respectively, of additional collateral. PacifiCorp's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
NPC | |
Derivative [Line Items] | |
Risk Management and Hedging Activities | Risk Management and Hedging Activities Nevada Power is exposed to the impact of market fluctuations in commodity prices and interest rates. Nevada Power is principally exposed to electricity, natural gas and coal market fluctuations primarily through Nevada Power's obligation to serve retail customer load in its regulated service territory. Nevada Power's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. Nevada Power does not engage in proprietary trading activities. Nevada Power has established a risk management process that is designed to identify, assess, manage and report on each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, Nevada Power uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. Nevada Power manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed-rate long-term debt and by monitoring market changes in interest rates. Additionally, Nevada Power may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate Nevada Power's exposure to interest rate risk. Nevada Power does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. There have been no significant changes in Nevada Power's accounting policies related to derivatives. Refer to 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): Other Other Other Current Current Long-term Assets Liabilities Liabilities Total 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) As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 26 $ — $ — $ 26 Commodity liabilities — (3) (8) (11) Total derivative - net basis $ 26 $ (3) $ (8) $ 15 (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $113 million was recorded related to the net derivative liability of $113 million. As of December 31, 2020 a regulatory liability of $15 million was recorded related to the net derivative asset of $15 million. Derivative Contract Volumes The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 119 124 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, 2021, 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, 2021: Not designated as hedging contracts (1) : Commodity assets $ 2 $ — $ — $ 2 Commodity liabilities — (16) (19) (35) Total derivative - net basis $ 2 $ (16) $ (19) $ (33) As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 9 $ — $ — $ 9 Commodity liabilities — — (2) (2) Total derivative - net basis $ 9 $ — $ (2) $ 7 (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $33 million was recorded related to the net derivative liability of $33 million. As of December 31, 2020 a regulatory liability of $7 million was recorded related to the net derivative asset of $7 million. The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Electricity purchases Megawatt hours 1 — Natural gas purchases Decatherms 53 54 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, 2021, 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, 2021 and 2020, 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. Subsequent to the GT&S Transaction, Eastern Energy Gas has elected to offset derivative contracts where master netting arrangements allow. There have been no other 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 derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Interest rate U.S. $ — 500 Foreign currency Euro € 250 250 Natural gas Dth 2 5 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 transportation 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 40% and 34% of Eastern Energy Gas' operating revenues for the years ended December 31, 2021 and 2020, respectively, with Eastern Energy Gas' largest customer representing approximately 20% and 17% of such amounts. For the year ended December 31, 2021, EGTS provided service to 278 customers with approximately 98% of its storage and transportation revenue being provided through firm services. The 10 largest customers provided approximately 38% of the total storage and transportation revenue and the thirty largest provided approximately 71% of the total storage and transportation revenue. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
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, 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: United States 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: United States 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) As of December 31, 2020: Assets: Commodity derivatives $ 1 $ 73 $ 135 $ (21) $ 188 Foreign currency exchange rate derivatives — 20 — — 20 Interest rate derivatives — — 62 — 62 Mortgage loans held for sale — 2,001 — — 2,001 Money market mutual funds 873 — — — 873 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 5,906 — — — 5,906 Investment funds 201 — — — 201 $ 7,562 $ 2,180 $ 197 $ (21) $ 9,918 Liabilities: Commodity derivatives $ (1) $ (90) $ (19) $ 56 $ (54) Foreign currency exchange rate derivatives — (2) — — (2) Interest rate derivatives (5) (60) — — (65) $ (6) $ (152) $ (19) $ 56 $ (121) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $26 million and $35 million as of December 31, 2021 and 2020, 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): Commodity Derivatives Interest Rate Derivatives 2021 2020 2019 2021 2020 2019 Beginning balance $ 116 $ 97 $ 99 $ 62 $ 14 $ 10 Changes included in earnings (1) (43) (10) 10 (43) 48 4 Changes in fair value recognized in OCI (13) — (1) — — — Changes in fair value recognized in net regulatory assets (118) (17) (26) — — — Purchases (76) 5 6 — — — Settlements (34) 41 9 — — — Transfers to Level 2 17 — — — — — Ending balance $ (151) $ 116 $ 97 $ 19 $ 62 $ 14 (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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 49,762 $ 57,189 $ 49,866 $ 60,633 |
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, 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) As of December 31, 2020: Assets: Commodity derivatives $ — $ 36 $ — $ (3) $ 33 Money market mutual funds 6 — — — 6 Investment funds 25 — — — 25 $ 31 $ 36 $ — $ (3) $ 64 Liabilities - Commodity derivatives $ — $ (53) $ — $ 27 $ (26) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $5 million and $24 million as of December 31, 2021 and 2020, respectively. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which PacifiCorp transacts. When quoted prices for identical contracts are not available, PacifiCorp uses forward price curves. Forward price curves represent PacifiCorp's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. PacifiCorp bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent energy brokers, exchanges, direct communication with market participants and actual transactions executed by PacifiCorp. Market price quotations for certain major electricity and natural gas trading hubs are generally readily obtainable for the first three years; therefore, PacifiCorp's forward price curves for those locations and periods reflect observable market quotes. Market price quotations for other electricity and natural gas trading hubs are not as readily obtainable for the first three years. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, PacifiCorp uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The estimated fair value of these derivative contracts is a function of underlying forward commodity prices, interest rates, currency rates, related volatility, counterparty creditworthiness and duration of contracts. Refer to Note 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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 8,730 $ 10,374 $ 8,612 $ 10,995 |
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, 2021: Assets: Commodity derivatives $ — $ 32 $ 3 $ (7) $ 28 Money market mutual funds 228 — — — 228 Debt securities: United States 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: United States companies 428 — — — 428 International companies 10 — — — 10 Investment funds 18 — — — 18 $ 916 $ 129 $ 3 $ (7) $ 1,041 Liabilities - commodity derivatives $ — $ (6) $ (8) $ 12 $ (2) As of December 31, 2020 Assets: Commodity derivatives $ — $ 4 $ 5 $ (5) $ 4 Money market mutual funds 41 — — — 41 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 9 — — — 9 Investment funds 17 — — — 17 $ 648 $ 90 $ 5 $ (5) $ 738 Liabilities - commodity derivatives $ — $ (4) $ (3) $ 5 $ (2) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $5 million and $— million as of December 31, 2021 and 2020, 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. 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): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,721 $ 9,037 $ 7,210 $ 9,130 |
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): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,961 $ 9,350 $ 7,450 $ 9,466 |
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, 2021: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 4 $ 41 Liabilities - commodity derivatives $ — $ — $ (117) $ (117) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 26 $ 26 Money market mutual funds 21 — — 21 Investment funds 2 — — 2 $ 23 $ — $ 26 $ 49 Liabilities - commodity derivatives $ — $ — $ (11) $ (11) 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, 2021, had an immaterial impact to the fair value of its derivative contracts. As such, Nevada Power considers its derivative contracts to be valued using Level 3 inputs. Nevada Power's investments in money market mutual funds and 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): 2021 2020 2019 Beginning balance $ 15 $ (8) $ 3 Changes in fair value recognized in regulatory assets or liabilities (90) (17) (21) Settlements (38) 40 10 Ending balance $ (113) $ 15 $ (8) 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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,499 $ 3,067 $ 2,496 $ 3,245 |
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, 2021: Assets: Commodity derivatives $ — $ — $ 2 $ 2 Money market mutual funds 10 — — 10 Investment funds 1 — — 1 $ 11 $ — $ 2 $ 13 Liabilities - commodity derivatives $ — $ — $ (35) $ (35) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 9 $ 9 Money market mutual funds 17 — — 17 $ 17 $ — $ 9 $ 26 Liabilities - commodity derivatives $ — $ — $ (2) $ (2) 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. 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, 2021, 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): 2021 2020 2019 Beginning balance $ 7 $ (1) $ 2 Changes in fair value recognized in regulatory assets or liabilities (25) (2) (5) Settlements (15) 10 2 Ending balance $ (33) $ 7 $ (1) 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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,164 $ 1,316 $ 1,164 $ 1,358 |
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, 2021 Assets: Foreign currency exchange rate derivatives $ — $ 3 $ — $ 3 Investment funds 13 — — 13 $ 13 $ 3 $ — $ 16 Liabilities: Foreign currency exchange rate derivatives $ — $ (3) $ — $ (3) $ — $ (3) $ — $ (3) As of December 31, 2020 Assets: Foreign currency exchange rate derivatives $ — $ 20 $ — $ 20 $ — $ 20 $ — $ 20 Liabilities: Commodity derivatives $ — $ (1) $ — $ (1) Foreign currency exchange rate derivatives — (2) — (2) Interest rate derivatives — (6) — (6) $ — $ (9) $ — $ (9) 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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,906 $ 4,266 $ 4,425 $ 5,012 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 2,475 $ 1,635 $ 1,422 $ 1,164 $ 1,054 $ 11,964 $ 19,714 Construction commitments 1,329 831 776 87 4 — 3,027 Easements 82 84 80 82 83 2,870 3,281 Maintenance, service and other contracts 474 364 300 249 240 1,543 3,170 $ 4,360 $ 2,914 $ 2,578 $ 1,582 $ 1,381 $ 16,377 $ 29,192 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, 2021, 2020 and 2019, $76 million, $90 million and $123 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-powered generating facilities 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 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. Commercial operation is expected by the end of 2023. 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 is expected by the end of 2024. 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-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. 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. California and Oregon 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, private and public property 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 United States Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. Several lawsuits have been filed in Oregon and California, including a putative class action complaint in Oregon, on behalf of citizens and businesses who suffered damages from fires allegedly caused by PacifiCorp. Additionally, multiple insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following comprehensive investigations and litigation processes. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could nevertheless be found liable for all damages proximately caused by negligence, including property and natural resource damage; fire suppression costs; personal injury and loss of life damages; and interest. PacifiCorp has accrued $136 million as its best estimate of the potential losses net of expected insurance recoveries associated with the 2020 Wildfires that are considered probable of being incurred. These accruals include estimated losses for fire suppression costs, property damage, personal injury damages and loss of life damages. It is reasonably possible that PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the lack of specific claims for all potential claimants. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover at least a portion of the losses. Environmental Laws and Regulations The Company is subject to federal, state, local and foreign laws and regulations regarding climate change, renewable portfolio standards, air and water quality, emissions performance standards, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. Hydroelectric Relicensing PacifiCorp is a party to the 2016 amended Klamath Hydroelectric Settlement Agreement ("KHSA"), which is intended to resolve disputes surrounding PacifiCorp's efforts to relicense the Klamath Hydroelectric Project. The KHSA establishes a process for PacifiCorp, the states of Oregon and California ("States") and other stakeholders to assess whether dam removal can occur consistent with the settlement's terms. For PacifiCorp, the key elements of the settlement include: (1) a contribution from PacifiCorp's Oregon and California customers capped at $200 million plus $250 million in California bond funds; (2) complete indemnification from harms associated with dam removal; (3) transfer of the Federal Energy Regulatory Commission ("FERC") license to a third-party dam removal entity, the Klamath River Renewal Corporation ("KRRC"), who would conduct dam removal; and (4) ability for PacifiCorp to operate the facilities for the benefit of customers until dam removal commences. In September 2016, the KRRC and PacifiCorp filed a joint application with the FERC to transfer the license for the four mainstem Klamath dams from PacifiCorp to the KRRC. The FERC approved partial transfer of the Klamath license in a July 2020 order, subject to the condition that PacifiCorp remains co-licensee. Under the amended KHSA, PacifiCorp did not agree to remain co-licensee during the surrender and removal process given concerns about liability protections for PacifiCorp and its customers. In November 2020, PacifiCorp entered a memorandum of agreement (the "MOA") with the KRRC, the Karuk Tribe, the Yurok Tribe and the States to continue implementation of the KHSA. The agreement required the States, PacifiCorp and KRRC to file a new license transfer application to remove PacifiCorp from the license for the Klamath Hydroelectric Project and add the States and KRRC as co-licensees for the purposes of surrender. In addition, the MOA provides for additional contingency funding of $45 million, equally split between PacifiCorp and the States, and for PacifiCorp and the States to equally share in any additional cost overruns in the unlikely event that dam removal costs exceed the $450 million in funding to ensure dam removal is complete. The MOA also requires PacifiCorp to cover the costs associated with certain pre-existing environmental conditions. In June 2021, the FERC approved transfer of the four mainstem Klamath dams from PacifiCorp to the KRRC and the States as co-licensees. In July 2021, the Oregon, Wyoming, Idaho and California state public utility commissions conditionally approved the required property transfer applications. In August 2021, PacifiCorp notified the Public Service Commission of Utah of the property transfer, however no formal approval is required in Utah. The transfer will be effective within 30 days following the issuance of a license surrender from the FERC for the project, which remains pending. As of December 31, 2021, PacifiCorp's assets included $14 million of costs associated with the Klamath hydroelectric system's mainstem dams and the associated relicensing and settlement costs, which are being depreciated and amortized in accordance with state regulatory approvals in Utah, Wyoming and Idaho through December 31, 2022. Hydroelectric Commitments Certain of PacifiCorp's hydroelectric licenses contain requirements for PacifiCorp to make certain capital and operating expenditures related to its hydroelectric facilities, which are estimated to be approximately $193 million over the next 10 years. Included in these estimates are commitments associated with the KHSA. Guarantees |
PAC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies 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. California and Oregon 2020 Wildfires In September 2020, a severe weather event resulting in high winds, low humidity and warm temperatures contributed to several major wildfires, private and public property damage, personal injuries and loss of life and widespread power outages in Oregon and Northern California. The wildfires spread across certain parts of PacifiCorp's service territory and surrounding areas across multiple counties in Oregon and California, including Siskiyou County, California; Jackson County, Oregon; Douglas County, Oregon; Marion County, Oregon; Lincoln County, Oregon; and Klamath County, Oregon burning over 500,000 acres in aggregate. Third party reports for these wildfires indicate over 2,000 structures destroyed, including residences; several structures damaged; multiple individuals injured; and several fatalities. Fire suppression costs estimated by various agencies total approximately $150 million. Investigations into the cause and origin of each wildfire are complex and ongoing and being conducted by various entities, including the United States Forest Service, the California Public Utilities Commission, the Oregon Department of Forestry, the Oregon Department of Justice, PacifiCorp and various experts engaged by PacifiCorp. Several lawsuits have been filed in Oregon and California, including a putative class action complaint in Oregon, on behalf of citizens and businesses who suffered damages from fires allegedly caused by PacifiCorp. Additionally, multiple insurance carriers have filed subrogation complaints in Oregon and California with allegations similar to those made in the aforementioned lawsuits. The final determinations of liability, however, will only be made following comprehensive investigations and litigation processes. In California, under inverse condemnation, courts have held that investor-owned utilities can be liable for real and personal property damages without the utility being found negligent and regardless of fault. California law also permits inverse condemnation plaintiffs to recover reasonable attorney fees and costs. In both Oregon and California, PacifiCorp has equipment in areas accessed through special use permits, easements or similar agreements that may contain provisions requiring it to pay for damages caused by its equipment regardless of fault. Even if inverse condemnation or other provisions do not apply, PacifiCorp could nevertheless be found liable for all damages proximately caused by negligence, including property and natural resource damage; fire suppression costs; personal injury and loss of life damages; and interest. PacifiCorp has accrued $136 million as its best estimate of the potential losses net of expected insurance recoveries associated with the 2020 Wildfires that are considered probable of being incurred. These accruals include estimated losses for fire suppression costs, property damage, personal injury damages and loss of life damages. It is reasonably possible that PacifiCorp will incur additional losses beyond the amounts accrued; however, PacifiCorp is currently unable to estimate the range of possible additional losses that could be incurred due to the number of properties and parties involved and the lack of specific claims for all potential claimants. To the extent losses beyond the amounts accrued are incurred, additional insurance coverage is expected to be available to cover at least a portion of the losses. Environmental Laws and Regulations PacifiCorp is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact PacifiCorp's current and future operations. PacifiCorp believes it is in material compliance with all applicable laws and regulations. Hydroelectric Relicensing PacifiCorp is a party to the 2016 amended Klamath Hydroelectric Settlement Agreement ("KHSA"), which is intended to resolve disputes surrounding PacifiCorp's efforts to relicense the Klamath Hydroelectric Project. The KHSA establishes a process for PacifiCorp, the states of Oregon and California ("States") and other stakeholders to assess whether dam removal can occur consistent with the settlement's terms. For PacifiCorp, the key elements of the settlement include: (1) a contribution from PacifiCorp's Oregon and California customers capped at $200 million plus $250 million in California bond funds; (2) complete indemnification from harms associated with dam removal; (3) transfer of the Federal Energy Regulatory Commission ("FERC") license to a third-party dam removal entity, the Klamath River Renewal Corporation ("KRRC"), who would conduct dam removal; and (4) ability for PacifiCorp to operate the facilities for the benefit of customers until dam removal commences. In September 2016, the KRRC and PacifiCorp filed a joint application with the FERC to transfer the license for the four mainstem Klamath dams from PacifiCorp to the KRRC. The FERC approved partial transfer of the Klamath license in a July 2020 order, subject to the condition that PacifiCorp remains co-licensee. Under the amended KHSA, PacifiCorp did not agree to remain co-licensee during the surrender and removal process given concerns about liability protections for PacifiCorp and its customers. In November 2020, PacifiCorp entered a memorandum of agreement (the "MOA") with the KRRC, the Karuk Tribe, the Yurok Tribe and the States to continue implementation of the KHSA. The agreement required the States, PacifiCorp and KRRC to file a new license transfer application to remove PacifiCorp from the license for the Klamath Hydroelectric Project and add the States and KRRC as co-licensees for the purposes of surrender. In addition, the MOA provides for additional contingency funding of $45 million, equally split between PacifiCorp and the States, and for PacifiCorp and the States to equally share in any additional cost overruns in the unlikely event that dam removal costs exceed the $450 million in funding to ensure dam removal is complete. The MOA also requires PacifiCorp to cover the costs associated with certain pre-existing environmental conditions. In June 2021, the FERC approved transfer of the four mainstem Klamath dams from PacifiCorp to the KRRC and the States as co-licensees. In July 2021, the Oregon, Wyoming, Idaho and California state public utility commissions conditionally approved the required property transfer applications. In August 2021, PacifiCorp notified the Public Service Commission of Utah of the property transfer, however no formal approval is required in Utah. The transfer will be effective within 30 days following the issuance of a license surrender from the FERC for the project, which remains pending. As of December 31, 2021, PacifiCorp's assets included $14 million of costs associated with the Klamath hydroelectric system's mainstem dams and the associated relicensing and settlement costs, which are being depreciated and amortized in accordance with state regulatory approvals in Utah, Wyoming and Idaho through December 31, 2022. Hydroelectric Commitments Certain of PacifiCorp's hydroelectric licenses contain requirements for PacifiCorp to make certain capital and operating expenditures related to its hydroelectric facilities, which are estimated to be approximately $193 million over the next 10 years. Included in these estimates are commitments associated with the KHSA. Commitments PacifiCorp has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2021 are as follows (in millions): 2022 2023 2024 2025 2026 2027 and Thereafter Total Contract type: Purchased electricity contracts - commercially operable $ 372 $ 223 $ 212 $ 194 $ 192 $ 2,190 $ 3,383 Fuel contracts 586 366 310 134 129 468 1,993 Construction commitments 51 106 27 — — — 184 Transmission 108 106 90 62 51 431 848 Easements 20 20 19 19 19 518 615 Maintenance, service and other contracts 113 56 53 52 51 253 578 Total commitments $ 1,250 $ 877 $ 711 $ 461 $ 442 $ 3,860 $ 7,601 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 several PPAs with solar-powered or wind-powered 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. 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 2021, 2020 and 2019 energy sources. 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. 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, 2021, are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Coal and natural gas for generation $ 127 $ 81 $ 55 $ 27 $ — $ — $ 290 Electric capacity and transmission 32 32 32 32 32 25 185 Natural gas contracts for gas operations 156 59 28 20 11 21 295 Construction commitments 806 19 12 11 4 — 852 Easements 40 41 42 43 44 1,574 1,784 Maintenance, services and other 165 166 131 99 98 260 919 $ 1,326 $ 398 $ 300 $ 232 $ 189 $ 1,880 $ 4,325 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 2025. 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-powered generating facilities 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-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 and water quality, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact its current and future operations. MidAmerican Energy believes it is in material compliance with all applicable laws and regulations. Transmission Rates MidAmerican Energy's wholesale transmission rates are set annually using FERC-approved formula rates subject to true-up for actual cost of service. MidAmerican Energy is authorized by the FERC to include a 0.50% adder beyond the approved base return on equity ("ROE") effective January 2015. Prior to September 2016, the rates in effect were based on a 12.38% ROE. In November 2013 and February 2015, a coalition of intervenors filed successive complaints with the FERC requesting that the 12.38% ROE no longer be found just and reasonable and sought to reduce the base ROE to 9.15% and 8.67%, respectively. In September 2016, the FERC issued an order for the first complaint, which reduces the base ROE to 10.32% and required refunds, plus interest, for the period from November 2013 through February 2015. Customer refunds relative to the first complaint occurred in February 2017. In November 2019, the FERC issued an order addressing the second complaint and issues on appeal in the first complaint. The order established an ROE of 9.88% (10.38% including the 0.50% adder) for the 15-month refund period of the first complaint and prospectively from September 2016 forward. In May 2020, the FERC issued an order on rehearing of the November 2019 order. The May 2020 order affirmed the FERC's prior decision to dismiss the second complaint and established an ROE of 10.02% (10.52% including the 0.50% adder) for the 15-month refund period of the first complaint and prospectively from September 2016 to the date of the May 2020 order. These orders continue to be subject to judicial appeal. MidAmerican Energy cannot predict the ultimate outcome of these matters and, as of December 31, 2021, has accrued a $8 million liability for refunds of amounts collected under the higher ROE during the periods covered by both complaints. 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. |
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 Environmental Laws and Regulations Nevada Power is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Nevada Power's 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. Commitments Nevada Power has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2021 are as follows (in millions): 2022 2023 2024 2025 2026 2027 and Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 713 $ 458 $ 346 $ 348 $ 352 $ 3,250 $ 5,467 Fuel and capacity contract commitments (not commercially operable) 20 60 181 212 211 4,302 4,986 Construction commitments 141 209 — — — — 350 Easements 4 5 2 2 2 52 67 Maintenance, service and other contracts 51 34 23 18 14 33 173 Total commitments $ 929 $ 766 $ 552 $ 580 $ 579 $ 7,637 $ 11,043 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 2026 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 2022 to 2039 and the gas supply contracts expires from 2022 to 2023. 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 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, $4 million and $7 million for the years ended December 31, 2021, 2020 and 2019, respectively. 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 2022 to 2031. |
SPPC | |
Contractual Obligation [Line Items] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Laws and Regulations Sierra Pacific is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Sierra Pacific's current and future operations. Sierra Pacific believes it is in material compliance with all applicable laws and regulations. Legal Matters Sierra Pacific is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. Sierra Pacific does not believe that such normal and routine litigation will have a material impact on its 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. Commitments Sierra Pacific has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2021 are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 338 $ 227 $ 149 $ 120 $ 105 $ 1,072 $ 2,011 Fuel and capacity contract commitments (not commercially operable) 25 27 27 26 26 459 590 Construction commitments 35 497 737 76 — — 1,345 Easements 2 2 2 2 2 28 38 Maintenance, service and other contracts 7 6 6 5 1 — 25 Total commitments $ 407 $ 759 $ 921 $ 229 $ 134 $ 1,559 $ 4,009 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 2022 to 2046. 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 2022 to 2023. 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. 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. Commercial operation is expected by the end of 2023. 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 is expected by the end of 2024. 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, 2021, 2020 and 2019. 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 2024 to 2026. |
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 climate change, renewable portfolio standards, air and water quality, emissions performance standards, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact Eastern Energy Gas' current and future operations. Eastern Energy Gas believes it is in material compliance with all applicable laws and regulations. Air Revisions to Ozone National Ambient Air Quality Ozone Standards The Clean Air Act includes National Ambient Air Quality Standards ("NAAQS"). States adopt rules that ensure their air quality meets the NAAQS. In October 2015, the United States Environmental Protection Agency ("EPA") published a rule lowering the ground level ozone NAAQS for non-attainment designations. States had until August 2021 to develop plans to address the new standard, which did not result in a material impact on Eastern Energy Gas' results of operations and cash flows. The EPA and environmental groups finalized a consent decree in January 2022 that sets deadlines for the agency to approve or disapprove the "good neighbor" provisions of interstate ozone plans of dozens of states. Relevant to Eastern Energy Gas, the EPA must, by April 30, 2022, approve or disapprove the interstate ozone state implementation plans of Maryland, New York, Ohio, Pennsylvania and West Virginia. Also in January 2022, the EPA initiated interagency review of a new rule to address "good neighbor" state implementation plan provisions. While the interagency review is not yet complete and the proposed rule is not available for public comment, the EPA has indicated that the action would apply in certain states for which the EPA has either disapproved a "good neighbor" state implementation plan submission or has made a finding of failure to submit such a plan for the 2015 ozone NAAQS. The action would determine whether and to what extent ozone-precursor emissions reductions are required to eliminate significant contribution or interference with maintenance from upwind states that are linked to air quality problems in other states for the 2015 standard. Until the EPA takes final action consistent with this decree, Eastern Energy Gas cannot predict the impact to its results of operations, financial condition and/or cash flows. Oil and Gas New Source Performance Standards In August 2020, the EPA issued two final amendments related to the reconsideration of the New Source Performance Standard ("NSPS") for the oil and natural gas sector applicable to volatile organic compound and methane emissions. Together, the two amendments have the effect of rescinding the methane portion of the NSPS for all segments of the oil and natural gas sector, rescinding all NSPS for the transmission and storage segment and modifying some of the NSPS volatile organic compound requirements for facilities in the production and processing segments. On June 30, 2021, President Biden signed into law a joint resolution of Congress, adopted under the Congressional Review Act, disapproving the August 2020 rule. The resolution reinstated the 2012 volatile organic compounds standards and the 2016 volatile organic compounds and methane standards for the oil and natural gas transmission and storage segments, as well as the methane standards for the production and processing segments of the oil and gas sector. On November 2, 2021, the EPA proposed rules that would reduce methane emissions from both new and existing sources in the oil and natural gas industry. The proposals would expand and strengthen emissions reduction requirements for new, modified and reconstructed oil and natural gas sources and would require states to reduce methane emissions from existing sources nationwide. The EPA took comment on the proposed rules through January 31, 2022. The EPA intends to issue a supplemental proposal in 2022, including draft regulatory text, and plans to finalize the rules by the end of 2022. 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. 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, 2021, Eastern Energy Gas had purchased $19 million of surety bonds. Under the terms of 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, 2021 | |
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): 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 2019 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail Electric $ 4,789 $ 1,938 $ 2,740 $ — $ — $ — $ — $ (2) $ 9,465 Retail Gas — 570 116 — — — — — 686 Wholesale 99 309 51 — — — — (2) 457 Transmission and 98 57 98 876 — 690 — — 1,819 Interstate pipeline — — — — 1,122 — — (118) 1,004 Other — — 2 — — — — — 2 Total Regulated 4,986 2,874 3,007 876 1,122 690 — (122) 13,433 Nonregulated — 30 — 36 — 17 744 577 1,404 Total Customer Revenue 4,986 2,904 3,007 912 1,122 707 744 455 14,837 Other revenue 82 23 30 101 9 — 188 101 534 Total $ 5,068 $ 2,927 $ 3,037 $ 1,013 $ 1,131 $ 707 $ 932 $ 556 $ 15,371 (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 2021 2020 2019 Customer Revenue: Brokerage $ 5,498 $ 4,520 $ 4,028 Franchise 85 76 68 Total Customer Revenue 5,583 4,596 4,096 Mortgage and other revenue 632 800 377 Total $ 6,215 $ 5,396 $ 4,473 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, 2021, by reportable segment (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,607 $ 21,038 $ 23,645 |
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): 2021 2020 2019 Customer Revenue: Retail: Residential $ 1,914 $ 1,910 $ 1,783 Commercial 1,559 1,578 1,522 Industrial 1,125 1,185 1,176 Other retail 249 259 230 Total retail 4,847 4,932 4,711 Wholesale 157 107 99 Transmission 143 96 98 Other Customer Revenue 108 108 78 Total Customer Revenue 5,255 5,243 4,986 Other revenue 41 98 82 Total operating revenue $ 5,296 $ 5,341 $ 5,068 |
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 18, (in millions): 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 For the Year Ended December 31, 2019 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 672 $ 383 $ — $ 1,055 Commercial 322 132 — 454 Industrial 799 17 — 816 Natural gas transportation services — 38 — 38 Other retail 145 — — 145 Total retail 1,938 570 — 2,508 Wholesale 221 88 — 309 Multi-value transmission projects 57 — — 57 Other Customer Revenue — — 28 28 Total Customer Revenue 2,216 658 28 2,902 Other revenue 21 2 — 23 Total operating revenue $ 2,237 $ 660 $ 28 $ 2,925 |
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, $8 million and $2 million of other revenue from contracts with customers for the year ended December 31, 2021, 2020 and 2019, 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): 2021 2020 2019 Customer Revenue: Retail: Residential $ 1,207 $ 1,145 $ 1,141 Commercial 414 384 441 Industrial 386 345 433 Other 14 12 20 Total fully bundled 2,021 1,886 2,035 Distribution only service 22 24 31 Total retail 2,043 1,910 2,066 Wholesale, transmission and other 74 62 57 Total Customer Revenue 2,117 1,972 2,123 Other revenue 22 26 25 Total revenue $ 2,139 $ 1,998 $ 2,148 |
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): 2021 2020 2019 Electric Natural Gas Total Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 307 $ 76 $ 383 $ 273 $ 76 $ 349 $ 268 $ 76 $ 344 Commercial 267 29 296 233 29 262 245 30 275 Industrial 202 10 212 170 9 179 186 10 196 Other 5 — 5 5 — 5 6 1 7 Total fully bundled 781 115 896 681 114 795 705 117 822 Distribution only service 3 — 3 4 — 4 4 — 4 Total retail 784 115 899 685 114 799 709 117 826 Wholesale, transmission and other 62 — 62 50 — 50 57 — 57 Total Customer Revenue 846 115 961 735 114 849 766 117 883 Other revenue 2 2 4 3 2 5 4 2 6 Total revenue $ 848 $ 117 $ 965 $ 738 $ 116 $ 854 $ 770 $ 119 $ 889 |
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): 2021 2020 2019 Customer Revenue: Regulated: Gas transportation and storage $ 1,044 $ 1,242 $ 1,300 Wholesale 57 43 9 Other (2) 4 7 Total regulated 1,099 1,289 1,316 Nonregulated 767 798 849 Total Customer Revenue 1,866 2,087 2,165 Other revenue 4 3 4 Total operating revenue $ 1,870 $ 2,090 $ 2,169 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, 2021 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,594 $ 16,126 $ 17,720 |
BHE Shareholders' Equity
BHE Shareholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
BHE Shareholders' Equity | BHE Shareholders' Equity Preferred Stock As of December 31, 2021 and 2020, BHE had 1,649,988 and 3,750,000 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. Restricted Net Assets BHE has maximum debt-to-total capitalization percentage restrictions imposed by its senior unsecured credit facilities expiring in June 2024 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 $18.3 billion as of December 31, 2021. 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 $20.3 billion as of December 31, 2021. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 and 2020. 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, 2021 and 2020. |
Common Shareholder's Equity
Common Shareholder's Equity | 12 Months Ended |
Dec. 31, 2021 | |
Class of Stock [Line Items] | |
Common Shareholder's Equity | BHE Shareholders' Equity Preferred Stock As of December 31, 2021 and 2020, BHE had 1,649,988 and 3,750,000 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. Restricted Net Assets BHE has maximum debt-to-total capitalization percentage restrictions imposed by its senior unsecured credit facilities expiring in June 2024 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 $18.3 billion as of December 31, 2021. 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 $20.3 billion as of December 31, 2021. |
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, 2021, 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, 2021, PacifiCorp's actual common equity percentage, as calculated under this measure, was 54%, and PacifiCorp would have been permitted to dividend $3.2 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, 2021, PacifiCorp met the minimum required senior unsecured debt ratings for making distributions. |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss, Net | 12 Months Ended |
Dec. 31, 2021 | |
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, 2018 $ (358) $ (1,623) $ 36 $ — $ (1,945) Other comprehensive (loss) income (59) 327 (29) — 239 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) Reclassifications from AOCI to net income for the years ended December 31, 2021, 2020 and 2019 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, Net Accumulated other comprehensive loss, net consists of unrecognized amounts on retirement benefits, net of tax, of $17 million and $19 million as of December 31, 2021 and 2020, 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 Balance, December 31, 2018 $ (144) $ (25) $ — $ (169) Other comprehensive income (loss) 38 (56) — (18) 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) The following table shows the reclassifications from AOCI to net income for the year ended December 31 (in millions): Affected Line Item In The Amounts Consolidated Reclassified Statements of From AOCI Operations 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 2019 Deferred (gains) and losses on derivatives-hedging activities: Commodity contracts $ (4) Net income from discontinued operations Interest rate contracts 5 Interest expense Foreign currency contracts 6 Other, net Total 7 Tax (2) Income tax expense (benefit) Total, net of tax $ 5 Unrecognized pension costs: Actuarial losses $ 7 Other, net Total 7 Tax (2) Income tax expense (benefit) Total, net of tax $ 5 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, 2021 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (38) $ (4) 276 months Foreign currency (4) (3) 54 months Total $ (42) $ (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. In July 2020, Eastern Energy Gas recorded a loss of $141 million ($105 million after-tax) in interest expense in the Consolidated Statement of Operations, for cash flow hedges of debt-related items that are probable of not occurring as a result of the GT&S Transaction. The derivatives related to these hedges were settled in October 2020 for a cash payment of $165 million. |
Other Income (Expense)
Other Income (Expense) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 2019 Non-service cost components of postretirement employee benefit plans $ 26 $ 24 $ 17 Corporate-owned life insurance income 21 16 24 Gains on disposition of assets — 6 — Interest income and other, net 6 6 9 Total $ 53 $ 52 $ 50 |
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): 2021 2020 2019 Non-service cost components of postretirement employee benefit plans $ 26 $ 24 $ 17 Corporate-owned life insurance income 21 16 24 Gains on disposition of assets — 6 — Interest income and other, net 7 6 11 Total $ 54 $ 52 $ 52 |
Variable Interest Entities and
Variable Interest Entities and Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 and 2020, 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 Entities PacifiCorp 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 remaining 33.33% of the coal produced is purchased by the joint venture partner. 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 $45 million and $74 million as of December 31, 2021 and 2020, 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 | 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. As part of the Dominion Energy Gas Restructuring, 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, $12 million and $16 million for the years ended December 31, 2021, 2020 and 2019, respectively. Eastern Energy Gas' Consolidated Balance Sheets included amounts due to Carolina Gas Services of $7 million and $22 million as of December 31, 2021 and 2020 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 and $33 million for the years ended December 31, 2020 and 2019, respectively. 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. |
Noncontrolling Interests
Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2021 | |
EEGH | |
Noncontrolling Interest [Line Items] | |
Noncontrolling Interests | Noncontrolling Interests Included in noncontrolling interests in the Consolidated Financial Statements are DEI's 50% interest in Cove Point (effective November 2020), Brookfield's 25% interest in Cove Point (effective December 2019) and the public's ownership interest in Northeast Midstream (through January 2019). Noncontrolling Interest in Northeast Midstream Northeast Midstream was a publicly traded master limited partnership that included common units, subordinated units, Series A Preferred Units and incentive distribution rights as its participating securities. In accordance with the partnership agreement, when the subordination period ended, all subordinated units converted into common units on a one-for-one basis and participated pro rata with the other common units in distributions. In January 2019, DEI and Northeast Midstream closed on an agreement and plan of merger pursuant to which DEI acquired each outstanding common unit representing limited partner interests in Northeast Midstream not already owned by DEI through the issuance of 22.5 million shares of common stock valued at $1.6 billion. Under the terms of the agreement and plan of merger, each publicly held outstanding common unit representing limited partner interests in Northeast Midstream was converted into the right to receive 0.2492 shares of DEI common stock. Immediately prior to the closing, each Series A Preferred Unit representing limited partner interests in Northeast Midstream was converted into common units representing limited partner interests in Northeast Midstream in accordance with the terms of Northeast Midstream's partnership agreement. The merger was accounted for by DEI following the guidance for a change in a parent company's ownership interest in a consolidated subsidiary. Because DEI controlled Northeast Midstream both before and after the merger, the changes in DEI's ownership interest in Northeast Midstream were accounted for as an equity transaction and no gain or loss was recognized. In connection with the merger, DEI recognized $40 million of income taxes in equity primarily attributable to establishing additional regulatory liabilities related to excess deferred income taxes and changes in state income taxes. Subsequent to this activity, as a result of the Dominion Energy Gas Restructuring, Eastern Energy Gas is considered to have acquired all of the outstanding partnership interests of Northeast Midstream and Northeast Midstream became a wholly-owned subsidiary of Eastern Energy Gas. |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist substantially of funds restricted for debt service obligations for certain of the Company's nonregulated renewable energy projects. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented in the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of December 31, 2021 2020 Cash and cash equivalents $ 1,096 $ 1,290 Restricted cash and cash equivalents 127 140 Investments and restricted cash and cash equivalents and investments 21 15 Total cash and cash equivalents and restricted cash and cash equivalents $ 1,244 $ 1,445 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,041 $ 1,855 $ 1,723 Income taxes received, net (1) $ 1,309 $ 1,361 $ 850 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 834 $ 801 $ 888 (1) Includes $1,441 million, $1,504 million and $942 million of income taxes received from Berkshire Hathaway in 2021, 2020 and 2019, respectively. |
PAC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash and Cash Equivalents and Restricted Cash and Cash Equivalents A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of December 31, 2021 and 2020, 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): 2021 2020 Cash and cash equivalents $ 179 $ 13 Restricted cash included in other current assets 4 4 Restricted cash included in other assets 3 2 Total cash and cash equivalents and restricted cash and cash equivalents $ 186 $ 19 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 395 $ 348 $ 340 Income taxes (received) paid, net $ (120) $ 107 $ 171 Supplemental disclosure of non-cash investing and financing activities: Accounts payable related to property, plant and equipment additions $ 254 $ 344 $ 293 |
MEC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash equivalents consist of funds invested in money market mutual funds, United States 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 as of December 31, 2021 and 2020 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, 2021 and 2020 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, 2021 2020 Cash and cash equivalents $ 232 $ 38 Restricted cash and cash equivalents in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 239 $ 45 The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 279 $ 286 $ 224 Income taxes received, net $ 746 $ 709 $ 450 Supplemental disclosure of non-cash investing transactions: Accounts payable related to utility plant additions $ 257 $ 227 $ 337 |
MidAmerican Funding, LLC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Information Cash equivalents consist of funds invested in money market mutual funds, United States 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 as of December 31, 2021 and 2020 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, 2021 and 2020 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, 2021 2020 Cash and cash equivalents $ 233 $ 39 Restricted cash and cash equivalents in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 240 $ 46 The summary of supplemental cash flow information as of and for the years ending December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 296 $ 302 $ 245 Income taxes received, net $ 751 $ 715 $ 456 Supplemental disclosure of non-cash investing and financing transactions: Accounts payable related to utility plant additions $ 257 $ 227 $ 337 Distribution of corporate aircraft to parent $ — $ — $ 8 |
NPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States 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 as of December 31, 2021 and December 31, 2020, 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, 2021 and December 31, 2020, 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, December 31, 2021 2020 Cash and cash equivalents $ 33 $ 25 Restricted cash and cash equivalents included in other current assets 12 11 Total cash and cash equivalents and restricted cash and cash equivalents $ 45 $ 36 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 115 $ 115 $ 126 Income taxes paid $ 63 $ 50 $ 113 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 53 $ 32 $ 49 |
SPPC | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States 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 as of December 31, 2021 and December 31, 2020, 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, 2021 and December 31, 2020, 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, December 31, 2021 2020 Cash and cash equivalents $ 10 $ 19 Restricted cash and cash equivalents included in other current assets 6 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 16 $ 26 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 41 $ 42 $ 41 Income taxes (refunded) paid $ (3) $ 2 $ 37 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 27 $ 17 $ 18 |
EEGH | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents consist of customer deposits as allowed under the FERC gas tariffs. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as presented in the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions): As of December 31, December 31, 2021 2020 Cash and cash equivalents $ 22 $ 35 Restricted cash and cash equivalents 17 13 Total cash and cash equivalents and restricted cash and cash equivalents $ 39 $ 48 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 144 $ 317 $ 291 Income taxes (received) paid, net $ (60) $ 31 $ 65 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 42 $ 30 $ 25 Equity distributions $ (137) $ — $ — Equity contributions $ 73 $ — $ — Distribution of Questar Pipeline Group $ — $ (699) $ — Distribution of 50% interest in Cove Point $ — $ (2,765) $ — Acquisition of Eastern Energy Gas by BHE $ — $ 343 $ — |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
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 this agreement totaled $18 million, $10 million and $10 million during the years ended December 31, 2021, 2020 and 2019, respectively. Payables associated with these services were $9 million and $5 million as of December 31, 2021 and 2020, respectively. Amounts charged by PacifiCorp to BHE and its subsidiaries under this agreement totaled $8 million, $4 million and $1 million during the years ended December 31, 2021, 2020 and 2019, respectively. In 2021, PacifiCorp sold wind turbines previously acquired from a third party to BHE Wind, LLC, an indirect wholly owned subsidiary of BHE, for $6 million. In 2020, PacifiCorp acquired wind turbines from BHE Wind, LLC for $147 million. The wind turbines were installed as part of newly constructed and repowered wind-powered generating facilities. 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 $6 million, $6 million and $7 million during the years ended December 31, 2021, 2020 and 2019, 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 $19 million, $29 million and $35 million during the years ended December 31, 2021, 2020 and 2019, respectively. PacifiCorp is party to a tax-sharing agreement and is part of the Berkshire Hathaway consolidated United States federal income tax return. Federal and state income taxes receivable from BHE were $48 million and $25 million as of December 31, 2021 and 2020, respectively. For the year ended December 31, 2021, cash refunded from BHE for federal and state income taxes totaled $120 million. For the years ended December 31, 2020 and 2019, cash paid to BHE for federal and state income taxes totaled $107 million and $171 million, respectively. 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, 2021, 2020 and 2019, coal purchases from PacifiCorp's equity investees totaled $148 million, $145 million and $155 million, respectively. Payables to PacifiCorp's equity investees were $7 million and $14 million as of December 31, 2021 and 2020, 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 $66 million, $47 million and $43 million for 2021, 2020 and 2019, respectively. MidAmerican Energy reimbursed BHE in the amount of $72 million, $15 million and $14 million in 2021, 2020 and 2019, respectively, for its share of corporate expenses. 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 $132 million, $129 million and $139 million in 2021, 2020 and 2019, 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 $10 million and $12 million as of December 31, 2021 and 2020, respectively, that are included in other current assets on the Balance Sheets. MidAmerican Energy also had accounts payable to affiliates of $17 million and $13 million as of December 31, 2021 and 2020, 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 United States federal income tax return. For current federal and state income taxes, MidAmerican Energy had a receivable from BHE of $79 million as of December 31, 2021, and a payable to BHE of $14 million as of December 31, 2020. MidAmerican Energy received net cash payments for federal and state income taxes from BHE totaling $746 million, $709 million and $450 million for the years ended December 31, 2021, 2020 and 2019, 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, as well as the initial liabilities associated with BHE's acquisition of GT&S. 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 $124 million and $146 million as of December 31, 2021 and 2020, respectively, and are included in other assets on the Balance Sheets. Similar amounts payable to affiliates totaled $63 million and $49 million as of December 31, 2021 and 2020, 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 $65 million, $46 million and $41 million for 2021, 2020 and 2019, respectively. Additionally, in 2019, recorded a noncash dividend of $8 million for the transfer to BHE of corporate aircraft owned by MHC. MidAmerican Funding reimbursed BHE in the amount of $72 million, $15 million and $14 million in 2021, 2020 and 2019, respectively, for its share of corporate expenses. 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 $132 million, $129 million and $139 million in 2021, 2020 and 2019, 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 the 30-day London Interbank Offered Rate ("LIBOR") rate plus a spread to borrow from BHE. Outstanding balances are unsecured and due on demand. The outstanding balance was $189 million at an interest rate of 0.353% as of December 31, 2021, and $177 million at an interest rate of 0.397% as of December 31, 2020, and is reflected as note payable to affiliate on the Consolidated Balance Sheet. BHE has a $100 million revolving credit arrangement, carrying interest at the 30-day LIBOR rate plus a spread to borrow from MHC. Outstanding balances are unsecured and due on demand. There were no borrowings outstanding throughout 2021 and 2020. MidAmerican Funding had accounts receivable from affiliates of $11 million and $13 million as of December 31, 2021 and 2020, respectively, that are included in other current assets on the Consolidated Balance Sheets. MidAmerican Funding also had accounts payable to affiliates of $17 million and $13 million as of December 31, 2021 and 2020, 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 United States federal income tax return. For current federal and state income taxes, MidAmerican Funding had a receivable from BHE of $80 million as of December 31, 2021, and a payable to BHE of $14 million as of December 31, 2020. MidAmerican Funding received net cash payments for federal and state income taxes from BHE totaling $751 million, $715 million and $456 million for the years ended December 31, 2021, 2020 and 2019, 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 $124 million and $146 million as of December 31, 2021 and 2020, respectively, and are included in other assets on the Consolidated Balance Sheets. Similar amounts payable to affiliates totaled $63 million and $49 million as of December 31, 2021 and 2020, 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 totaled $3 million, $2 million and $2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Kern River Gas Transmission Company, an indirect subsidiary of BHE, provided natural gas transportation and other services to Nevada Power of $52 million for the years ended December 31, 2021, 2020 and 2019. As of December 31, 2021 and 2020, Nevada Power's Consolidated Balance Sheets included amounts due to Kern River Gas Transmission Company of $4 million. Nevada Power provided electricity and other services to PacifiCorp, an indirect subsidiary of BHE, of $3 million, $3 million and $2 million for the years ended December 31, 2021, 2020 and 2019, respectively. There were no receivables associated with these services as of December 31, 2021 and 2020. PacifiCorp provided electricity and the sale of renewable energy credits to Nevada Power of $— million, $1 million and $— million for the years ended December 31, 2021, 2020, and 2019, respectively. There were no payables associated with these transactions as of December 31, 2021 and 2020. Nevada Power provided electricity to Sierra Pacific of $179 million, $106 million and $84 million for the years ended December 31, 2021, 2020 and 2019, respectively. Receivables associated with these transactions were $13 million as of December 31, 2021 and 2020. Nevada Power purchased electricity from Sierra Pacific of $43 million, $34 million and $25 million for the years ended December 31, 2021, 2020 and 2019, respectively. Payables associated with these transactions were $— million and $1 million as of December 31, 2021 and 2020, 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 $1 million, $— million and $— million for each of the years ending December 31, 2021, 2020 and 2019, respectively. NV Energy provided services to Nevada Power of $9 million for the years ending December 31, 2021, 2020 and 2019. Nevada Power provided services to Sierra Pacific of $25 million, $26 million and $26 million for the years ended December 31, 2021, 2020 and 2019, respectively. Sierra Pacific provided services to Nevada Power of $15 million, $15 million and $14 million for the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021 and 2020, Nevada Power's Consolidated Balance Sheets included amounts due to NV Energy of $33 million and $28 million, respectively. There were no receivables due from NV Energy as of December 31, 2021 and 2020. As of December 31, 2021 and 2020, Nevada Power's Consolidated Balance Sheets included receivables due from Sierra Pacific of $2 million. There were no payables due to Sierra Pacific as of December 31, 2021 and 2020. Nevada Power is party to a tax-sharing agreement with NV Energy and NV Energy is part of the Berkshire Hathaway consolidated United States federal income tax return. As of December 31, 2021 and 2020 federal income taxes receivable from NV Energy were $27 million and $— million, respectively. Nevada Power made cash payments of $63 million, $50 million and $113 million for federal income taxes for the years ended December 31, 2021, 2020 and 2019, 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 totaled $2 million, $1 million and $1 million for the years ended December 31, 2021, 2020 and 2019. Sierra Pacific provided electricity to Nevada Power of $43 million, $34 million and $25 million for the years ended December 31, 2021, 2020 and 2019, respectively. Receivables associated with these transactions were $— million and $1 million as of December 31, 2021 and 2020, respectively. Sierra Pacific purchased electricity from Nevada Power of $179 million, $106 million and $84 million for the years ended December 31, 2021, 2020 and 2019, respectively. Payables associated with these transactions were $13 million as of December 31, 2021 and 2020. 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, $5 million and $4 million for the years ending December 31, 2021, 2020 and 2019, respectively. Sierra Pacific provided services to Nevada Power of $15 million, $15 million, and $14 million for the years ended December 31, 2021, 2020 and 2019, respectively. Nevada Power provided services to Sierra Pacific of $25 million, $26 million, and $26 million for the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021 and 2020, Sierra Pacific's Consolidated Balance Sheets included amounts due to NV Energy of $19 million and $17 million, respectively. There were no receivables due from NV Energy as of December 31, 2021 and 2020. As of December 31, 2021 and 2020, Sierra Pacific's Consolidated Balance Sheets included payables due to Nevada Power of $2 million. There were no receivables due from Nevada Power as of December 31, 2021 and 2020. Sierra Pacific is party to a tax-sharing agreement with NV Energy and NV Energy is part of the Berkshire Hathaway consolidated United States federal income tax return. As of December 31, 2021 and 2020 federal income taxes receivable from NV Energy were $— million and $7 million, respectively. Sierra Pacific received cash refunds of $3 million for federal income taxes for the year ended December 31, 2021 and made cash payments of $2 million and $37 million for federal income taxes for the years ended December 31, 2020 and 2019, respectively. 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. In January 2022, Sierra Pacific received a capital contribution of $130 million from NV Energy, Inc. |
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 transportation 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. See Note 3 for information regarding the Dominion Energy Gas Restructuring, an affiliated transaction. 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 years ended December 31, 2020 and 2019 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 years ended December 31 (in millions): 2020 2019 Sales of natural gas and transportation and storage services $ 207 $ 249 Purchases of natural gas and transportation and storage services 10 12 Services provided by related parties (1) 129 226 Services provided to related parties (2) 83 164 (1) Includes capitalized expenditures of $14 million and $19 million for the years ended December 31, 2020 and 2019, respectively. (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 and $103 million for the years ended December 31, 2020 and 2019, respectively, included in operating revenue in the Consolidated Statements 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. Interest income on affiliated notes receivable from East Ohio and EGP borrowings under intercompany revolving credit agreements with Eastern Energy Gas was $14 million for the year ended December 31, 2019. Interest income related to DEI's loan and promissory note associated with Cove Point's term loan was $82 million for the year ended December 31, 2019. In September 2019, DEI repaid the promissory note to Cove Point and the proceeds were used by Cove Point to repay its $3.0 billion term loan. 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 and $5 million for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2019, Eastern Energy Gas' affiliated notes receivable from East Ohio totaled $1.7 billion. In June 2020, East Ohio repaid the remaining principal balance outstanding. Interest income on these promissory notes was $33 million and $72 million for the years ended December 31, 2020 and 2019, respectively. Interest charges related to Eastern Energy Gas' total borrowings under an intercompany revolving credit agreement with DEI were $3 million for each of the years ended December 31, 2020 and 2019. Interest charges related to DCP's total borrowings from DEI totaled $94 million for the year ended December 31, 2019. Interest charges related to DCP's total borrowings from DES were $3 million for each of the years ended December 31, 2020 and 2019. Interest charges related to Northeast Midstream's promissory note with DEI were $10 million for the year ended December 31, 2019. For the years ended December 31, 2020 and 2019, Eastern Energy Gas, including entities acquired in the Dominion Energy Gas Restructuring, distributed $4.3 billion and $603 million to DEI, respectively. 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 United States federal income tax return. For current federal and state income taxes, Eastern Energy Gas had a receivable from BHE of $8 million and $20 million as of December 31, 2021 and 2020, 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 and $7 million as of December 31, 2021 and 2020, respectively. As of December 31, 2021, Eastern Energy Gas had $5 million of natural gas imbalances payable to affiliates, presented in other current liabilities on the Consolidated Balance Sheet. Presented below are Eastern Energy Gas' significant transactions with affiliated and related parties for the years ended December 31 (in millions): 2021 2020 Sales of natural gas and transportation and storage services $ 32 $ 4 Purchases of natural gas and transportation and storage services 5 — Services provided by related parties 51 4 Services provided to related parties 32 7 Eastern Energy Gas has a $400 million intercompany revolving credit agreement from its parent, BHE GT&S, expiring in November 2022. 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 London Interbank Offered Rate ("LIBOR") plus a fixed spread. As of December 31, 2020, $9 million was outstanding under the credit agreement with a weighted average interest rate of 0.55%. There were no amounts outstanding under the credit agreement as of December 31, 2021. BHE GT&S has an intercompany revolving credit agreement from Eastern Energy Gas expiring in December 2022. In March 2021, BHE GT&S increased its credit facility limit from $200 million to $400 million. The credit agreement has a variable interest rate based on LIBOR plus a fixed spread. As of December 31, 2021 and 2020, $8 million and $124 million, respectively, was outstanding under the credit agreement. Eastern Energy Gas participates in certain MidAmerican Energy benefit plans as described in Note 10. As of December 31, 2021 and 2020, Eastern Energy Gas' amount due to MidAmerican Energy associated with these plans and reflected in other long-term liabilities on the Consolidated Balance Sheets was $95 million and $115 million, respectively. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 2020 2019 Operating revenue: PacifiCorp $ 5,296 $ 5,341 $ 5,068 MidAmerican Funding 3,547 2,728 2,927 NV Energy 3,107 2,854 3,037 Northern Powergrid 1,188 1,022 1,013 BHE Pipeline Group 3,544 1,578 1,131 BHE Transmission 731 659 707 BHE Renewables 981 936 932 HomeServices 6,215 5,396 4,473 BHE and Other (1) 541 438 556 Total operating revenue $ 25,150 $ 20,952 $ 19,844 Depreciation and amortization: PacifiCorp $ 1,088 $ 1,209 $ 954 MidAmerican Funding 914 716 638 NV Energy 549 502 482 Northern Powergrid 305 266 254 BHE Pipeline Group 492 231 115 BHE Transmission 238 201 240 BHE Renewables 241 284 282 HomeServices 52 45 47 BHE and Other (1) 2 1 (1) Total depreciation and amortization $ 3,881 $ 3,455 $ 3,011 Years Ended December 31, 2021 2020 2019 Operating income: PacifiCorp $ 1,133 $ 924 $ 1,072 MidAmerican Funding 416 454 549 NV Energy 621 649 655 Northern Powergrid 543 421 472 BHE Pipeline Group 1,516 779 572 BHE Transmission 339 316 323 BHE Renewables 329 291 336 HomeServices 505 511 222 BHE and Other (1) (75) (54) (51) Total operating income 5,327 4,291 4,150 Interest expense (2,118) (2,021) (1,912) Capitalized interest 64 80 77 Allowance for equity funds 126 165 173 Interest and dividend income 89 71 117 Gains (losses) on marketable securities, net 1,823 4,797 (288) Other, net (17) 88 97 Total income before income tax (benefit) expense and equity loss $ 5,294 $ 7,471 $ 2,414 Interest expense: PacifiCorp $ 430 $ 426 $ 401 MidAmerican Funding 319 322 302 NV Energy 206 227 229 Northern Powergrid 130 130 139 BHE Pipeline Group 143 74 52 BHE Transmission 155 148 157 BHE Renewables 158 166 174 HomeServices 4 11 25 BHE and Other (1) 573 517 433 Total interest expense $ 2,118 $ 2,021 $ 1,912 Income tax (benefit) expense: PacifiCorp $ (78) $ (75) $ 61 MidAmerican Funding (680) (574) (377) NV Energy 56 61 98 Northern Powergrid 192 96 59 BHE Pipeline Group 269 162 138 BHE Transmission 10 13 11 BHE Renewables (2) (753) (602) (325) HomeServices 138 138 51 BHE and Other (1) (286) 1,089 (314) Total income tax (benefit) expense $ (1,132) $ 308 $ (598) Years Ended December 31, 2021 2020 2019 Earnings on common shares: PacifiCorp $ 889 $ 741 $ 773 MidAmerican Funding 883 818 781 NV Energy 439 410 365 Northern Powergrid 247 201 256 BHE Pipeline Group 807 528 422 BHE Transmission 247 231 229 BHE Renewables (2) 451 521 431 HomeServices 387 375 160 BHE and Other (1) 1,319 3,092 (467) Total earnings on common shares $ 5,669 $ 6,917 $ 2,950 Capital expenditures: PacifiCorp $ 1,513 $ 2,540 $ 2,175 MidAmerican Funding 1,912 1,836 2,810 NV Energy 749 675 657 Northern Powergrid 742 682 602 BHE Pipeline Group 1,128 659 687 BHE Transmission 279 372 247 BHE Renewables 225 95 122 HomeServices 42 36 54 BHE and Other 21 (130) 10 Total capital expenditures $ 6,611 $ 6,765 $ 7,364 As of December 31, 2021 2020 2019 Property, plant and equipment, net: PacifiCorp $ 22,914 $ 22,430 $ 20,973 MidAmerican Funding 20,302 19,279 18,377 NV Energy 10,231 9,865 9,613 Northern Powergrid 7,572 7,230 6,606 BHE Pipeline Group 15,692 15,097 5,482 BHE Transmission 6,590 6,445 6,157 BHE Renewables 6,103 5,645 5,976 HomeServices 169 159 161 BHE and Other 243 (22) (40) Total property, plant and equipment, net $ 89,816 $ 86,128 $ 73,305 Total assets: PacifiCorp $ 27,615 $ 26,862 $ 24,861 MidAmerican Funding 25,352 23,530 22,664 NV Energy 15,239 14,501 14,128 Northern Powergrid 9,326 8,782 8,385 BHE Pipeline Group 20,434 19,541 6,100 BHE Transmission 9,476 9,208 8,776 BHE Renewables 11,829 12,004 9,961 HomeServices 4,574 4,955 3,846 BHE and Other 8,220 7,933 1,330 Total assets $ 132,065 $ 127,316 $ 100,051 Years Ended December 31, 2021 2020 2019 Operating revenue by country: United States $ 23,215 $ 19,254 $ 18,108 United Kingdom 1,188 1,022 1,011 Canada 719 653 706 Other 28 23 19 Total operating revenue by country $ 25,150 $ 20,952 $ 19,844 Income before income tax (benefit) expense and equity loss by country: United States $ 4,650 $ 6,954 $ 1,866 United Kingdom 454 338 326 Canada 181 173 178 Other 9 6 44 Total income before income tax (benefit) expense and equity loss by country: $ 5,294 $ 7,471 $ 2,414 As of December 31, 2021 2020 2019 Property, plant and equipment, net by country: United States $ 75,774 $ 72,583 $ 60,634 United Kingdom 7,487 7,134 6,504 Canada 6,547 6,401 6,157 Other 8 10 10 Total property, plant and equipment, net by country $ 89,816 $ 86,128 $ 73,305 (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, 2021 and 2020 (in millions): BHE MidAmerican NV Northern Pipeline BHE BHE PacifiCorp Funding Energy Powergrid Group Transmission Renewables HomeServices Total December 31, 2019 $ 1,129 $ 2,102 $ 2,369 $ 978 $ 73 $ 1,520 $ 95 $ 1,456 $ 9,722 Acquisitions — — — — 1,730 — — 1 1,731 Foreign currency translation — — — 22 — 31 — — 53 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 |
MEC | |
Segment Reporting Information [Line Items] | |
Segment Information | Segment Information MidAmerican 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, 2021 2020 2019 Operating revenue: Regulated electric $ 2,529 $ 2,139 $ 2,237 Regulated natural gas 1,003 573 660 Other 15 8 28 Total operating revenue $ 3,547 $ 2,720 $ 2,925 Depreciation and amortization: Regulated electric $ 861 $ 667 $ 593 Regulated natural gas 53 49 46 Total depreciation and amortization $ 914 $ 716 $ 639 Operating income: Regulated electric $ 358 $ 384 $ 473 Regulated natural gas 58 64 71 Other — — 4 Total operating income $ 416 $ 448 $ 548 Interest expense: Regulated electric $ 279 $ 281 $ 259 Regulated natural gas 23 23 22 Total interest expense $ 302 $ 304 $ 281 Years Ended December 31, 2021 2020 2019 Income tax (benefit) expense: Regulated electric $ (677) $ (584) $ (384) Regulated natural gas 3 14 12 Other (1) — 1 Total income tax (benefit) expense $ (675) $ (570) $ (371) Net income: Regulated electric $ 844 $ 780 $ 739 Regulated natural gas 50 45 52 Other — 1 2 Net income $ 894 $ 826 $ 793 Capital expenditures: Regulated electric $ 1,806 $ 1,704 $ 2,684 Regulated natural gas 106 132 126 Total capital expenditures $ 1,912 $ 1,836 $ 2,810 As of December 31, 2021 2020 2019 Total assets: Regulated electric $ 21,385 $ 19,892 $ 19,093 Regulated natural gas 1,871 1,544 1,468 Other 1 1 3 Total assets $ 23,257 $ 21,437 $ 20,564 |
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, 2021 2020 2019 Operating revenue: Regulated electric $ 2,529 $ 2,139 $ 2,237 Regulated natural gas 1,003 573 660 Other 15 16 30 Total operating revenue $ 3,547 $ 2,728 $ 2,927 Depreciation and amortization: Regulated electric $ 861 $ 667 $ 593 Regulated natural gas 53 49 46 Total depreciation and amortization $ 914 $ 716 $ 639 Operating income: Regulated electric $ 358 $ 384 $ 473 Regulated natural gas 58 64 71 Other — 6 5 Total operating income $ 416 $ 454 $ 549 Interest expense: Regulated electric $ 279 $ 281 $ 259 Regulated natural gas 23 23 22 Other 17 18 21 Total interest expense $ 319 $ 322 $ 302 Income tax (benefit) expense: Regulated electric $ (677) $ (584) $ (384) Regulated natural gas 3 14 12 Other (6) (4) (5) Total income tax (benefit) expense $ (680) $ (574) $ (377) Net income: Regulated electric $ 844 $ 780 $ 739 Regulated natural gas 50 45 52 Other (11) (7) (10) Net income $ 883 $ 818 $ 781 Years Ended December 31, 2021 2020 2019 Capital expenditures: Regulated electric $ 1,806 $ 1,704 $ 2,684 Regulated natural gas 106 132 126 Total capital expenditures $ 1,912 $ 1,836 $ 2,810 As of December 31, 2021 2020 2019 Total assets: Regulated electric $ 22,576 $ 21,083 $ 20,284 Regulated natural gas 1,950 1,623 1,547 Other 5 5 9 Total assets $ 24,531 $ 22,711 $ 21,840 Goodwill by reportable segment as of December 31, 2021 and 2020, 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, 2021 2020 2019 Operating revenue: Regulated electric $ 848 $ 738 $ 770 Regulated natural gas 117 116 119 Total operating revenue $ 965 $ 854 $ 889 Operating income: Regulated electric $ 148 $ 147 $ 150 Regulated natural gas 19 18 21 Total operating income 167 165 171 Interest expense (54) (56) (48) Allowance for borrowed funds 2 2 1 Allowance for equity funds 7 4 3 Interest and dividend income 9 4 3 Other, net 11 7 1 Income before income tax expense $ 142 $ 126 $ 131 As of December 31, 2021 2020 2019 Assets Regulated electric $ 3,829 $ 3,540 $ 3,319 Regulated natural gas 365 342 308 Regulated common assets (1) 29 37 44 Total assets $ 4,223 $ 3,919 $ 3,671 (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, 2021 | |
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, 2021 2020 ASSETS Current assets: Cash and cash equivalents $ 18 $ 623 Accounts receivable - affiliate 117 96 Notes receivable - affiliate 189 177 Income tax receivable 23 19 Other current assets 13 1,301 Total current assets 360 2,216 Investments in subsidiaries 58,190 48,654 Other investments 237 6,103 Goodwill 1,221 1,221 Other assets 1,101 488 Total assets $ 61,109 $ 58,682 LIABILITIES AND EQUITY Current liabilities: Accounts payable and other current liabilities $ 397 $ 341 Notes payable - affiliate 353 200 Current portion of BHE senior debt — 450 Total current liabilities 750 991 BHE senior debt 13,003 12,997 BHE junior subordinated debentures 100 100 Notes payable - affiliate 2 116 Other long-term liabilities 560 1,468 Total liabilities 14,415 15,672 Equity: BHE shareholders' equity: Preferred stock - 100 shares authorized, $0.01 par value, 2 and 4 shares issued and outstanding 1,650 3,750 Common stock - 115 shares authorized, no par value, 76 shares issued and outstanding — — Additional paid-in capital 6,374 6,377 Long-term income tax receivable (744) (658) Retained earnings 40,754 35,093 Accumulated other comprehensive loss, net (1,340) (1,552) Total BHE shareholders' equity 46,694 43,010 Noncontrolling interest — — Total equity 46,694 43,010 Total liabilities and equity $ 61,109 $ 58,682 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, 2021 2020 2019 Operating expenses: General and administration $ 83 $ 57 $ 49 Depreciation and amortization 6 4 5 Total operating expenses 89 61 54 Operating loss (89) (61) (54) Other income (expense): Interest expense (580) (527) (452) Other, net 1,846 4,789 (271) Total other income (expense) 1,266 4,262 (723) Income (loss) before income tax expense (benefit) and equity income 1,177 4,201 (777) Income tax expense (benefit) 194 1,089 (312) Equity income 4,807 3,832 3,419 Net income 5,790 6,944 2,954 Net income attributable to noncontrolling interest — 1 3 Net income attributable to BHE shareholders 5,790 6,943 2,951 Preferred dividends 121 26 — Earnings on common shares $ 5,669 $ 6,917 $ 2,951 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, 2021 2020 2019 Net income $ 5,790 $ 6,944 $ 2,954 Other comprehensive income, net of tax 212 154 239 Comprehensive income 6,002 7,098 3,193 Comprehensive income attributable to noncontrolling interests — 1 3 Comprehensive income attributable to BHE shareholders $ 6,002 $ 7,097 $ 3,190 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, 2021 2020 2019 Cash flows from operating activities $ 1,819 $ 1,639 $ 1,780 Cash flows from investing activities: Investments in subsidiaries (1,206) (6,422) (1,972) Purchases of marketable securities (29) (55) (42) Proceeds from sales of marketable securities 28 22 41 Purchases of other investments — (1,290) — Proceeds from other investments 1,290 — 1 Notes receivable from affiliate, net 200 (121) (112) Other, net (20) (20) (5) Net cash flows from investing activities 263 (7,886) (2,089) Cash flows from financing activities: Proceeds from issuance of preferred stock — 3,750 — Preferred stock redemptions (2,100) — — Preferred dividends (132) (7) — Common stock purchases — (126) (293) Proceeds from BHE senior debt — 5,212 — Repayments of BHE senior debt (450) (350) — Net (repayments of) proceeds from short-term debt — (1,590) 607 Other, net (5) (32) (1) Net cash flows from financing activities (2,687) 6,857 313 Net change in cash and cash equivalents (605) 610 4 Cash and cash equivalents at beginning of year 623 13 9 Cash and cash equivalents at end of year $ 18 $ 623 $ 13 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. Other investments - BHE's investment in BYD Company Limited ("BYD") common stock is accounted for as a marketable security with changes in fair value recognized in net income. As of December 31, 2021 and 2020, the fair value of BHE's investment in BYD common stock was $— million and $5,897 million, respectively. Dividends and distributions from subsidiaries - Cash dividends paid to BHE by its subsidiaries for the years ended December 31, 2021, 2020 and 2019 were $2.4 billion, $2.0 billion and $2.0 billion, respectively. In January and February 2022, BHE received cash dividends from its subsidiaries totaling $102 million. Guarantees and commitments - BHE has issued guarantees and letters of credit in respect of subsidiaries, equity method investments and other related parties aggregating $1.4 billion and commitments, subject to satisfaction of certain specified conditions, to provide equity contributions in support of renewable tax equity investments totaling $356 million. 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, 2021 2020 ASSETS Current assets: Receivables from affiliates $ 1 $ 1 Investments in and advances to subsidiaries 10,070 9,176 Total assets $ 10,071 $ 9,177 LIABILITIES AND MEMBER'S EQUITY Current liabilities: Interest accrued and other current liabilities $ 5 $ 5 Payable to affiliate 25 13 Long-term debt 240 240 Total liabilities 270 258 Member's equity: Paid-in capital 1,679 1,679 Retained earnings 8,122 7,240 Total member's equity 9,801 8,919 Total liabilities and member's equity $ 10,071 $ 9,177 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, 2021 2020 2019 Other income and (expense): Interest expense $ (16) $ (16) $ (16) Loss before income taxes (16) (16) (16) Income tax benefit (5) (5) (5) Equity in undistributed earnings of subsidiaries 894 829 792 Net income $ 883 $ 818 $ 781 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, 2021 2020 2019 Net cash flows from operating activities $ (12) $ (12) $ (12) Net cash flows from investing activities — — — Net cash flows from financing activities: Net change in amounts payable to subsidiary 12 12 12 Net cash flows from financing activities 12 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 Equity for the three years ended December 31, 2021 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, 2021, 2020 and 2019. 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 primarily interest costs on, and repayments of, MidAmerican Funding's long-term debt and income taxes. MHC paid $12 million in 2021, 2020 and 2019 on behalf of MidAmerican Funding. In 2019, MHC transferred to MidAmerican Funding $440 million of its receivable from MidAmerican Funding in the form of a dividend. Distribution to Parent - In 2019, MidAmerican Funding recorded a noncash dividend of $8 million for the transfer to BHE of corporate aircraft owned by MHC. 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, 2021 | |
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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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. Restricted amounts are included in restricted cash and cash equivalents and investments and restricted cash and cash equivalents and investments on the Consolidated Balance Sheets. |
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 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 $296 million and $382 million as of December 31, 2021 and 2020, respectively, and materials and supplies totaling $826 million and $786 million as of December 31, 2021 and 2020, 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 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 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. 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 2021, 2020 and 2019, 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 United States federal and Iowa state income tax returns and the majority of the Company's United States federal income tax is remitted to or received from Berkshire Hathaway. The Company records the deferred income tax assets associated with the state of Iowa net operating loss carryforward as a long-term income tax receivable from Berkshire Hathaway as a component of BHE's shareholders' equity due to the long-term related party nature of the income tax receivable. 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 generally 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, 2021 and 2020, trade receivables, net on the Consolidated Balance Sheets relate substantially to Customer Revenue, including unbilled revenue of $718 million and $750 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 United States 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, including those related to the Oregon and Northern California 2020 wildfires (the "2020 Wildfires") 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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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. Restricted amounts are included in other current assets and other assets on the Consolidated Balance Sheets. |
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, 2021 and 2020, 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 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 energy costs on the Consolidated Statements of Operations. |
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 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 PacifiCorp's regulated businesses 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 United States 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 that are associated with components of OCI are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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, 2021, 2020 and 2019. |
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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Cash Equivalents and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and investments and restricted investments on the Balance Sheets. |
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 $135 million and $129 million as of December 31, 2021 and 2020, respectively, coal stocks, totaling $63 million and $119 million as of December 31, 2021 and 2020, respectively, and natural gas in storage, totaling $30 million and $26 million as of December 31, 2021 and 2020, 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 | Impairment MidAmerican Energy evaluates long-lived assets for impairment, including utility plant, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or 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. The impacts of regulation are considered when evaluating the carrying value of regulated assets. For all other assets, 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 United States 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 that are 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 generally deferred and amortized over the estimated useful lives of the related properties or as prescribed by various regulatory commissions. Investment tax credits are generally 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, 2021 and 2020, unbilled revenue was $85 million and $95 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, 2021, 2020 and 2019. |
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. 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 2021, 2020 and 2019, 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, 2021, 2020 and 2019. |
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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and other assets on the Consolidated Balance Sheets. |
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 $64 million and $69 million as of December 31, 2021 and 2020. 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 | Impairment of Long-Lived AssetsNevada 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 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 as of December 31, 2021, 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 United States 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 that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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. |
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 on a straight-line basis. |
Segment Information | Segment Information Nevada Power currently has one segment, which includes its regulated electric utility operations. |
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Allowance for Doubtful Accounts [Line Items] | |
Basis of Consolidation and Presentation | Basis of 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, 2021, 2020 and 2019. |
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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Investments Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in other current assets and other assets on the Consolidated Balance Sheets. |
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 $62 million and $67 million as of December 31, 2021 and 2020, respectively, and fuel, which includes coal stock, stored natural gas and fuel oil, totaling $3 million and $10 million as of December 31, 2021 and 2020, 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 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 as of December 31, 2021, 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 United States 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 that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are 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 generally 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. |
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 on a straight-line basis. |
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. 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 in 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 Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Cash Equivalents Cash equivalents consist of funds invested in money market mutual funds, United States 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 amounts are included in restricted cash and cash equivalents on the Consolidated Balance Sheets. |
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 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 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 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 utilizes credit loss history. However, Eastern Energy Gas may adjust the allowance for credit losses to reflect current conditions and reasonable and supportable forecasts that deviate from historical experience. |
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 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; and other, net for interest rate swap derivatives. 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 | 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 current assets 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. 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. |
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. Prior to the GT&S Transaction, Eastern Energy Gas evaluated goodwill for impairment as of April 1. As a result of the GT&S Transaction, Eastern Energy Gas now completes its annual reviews as of October 31 to align with BHE's policy. 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 2021, 2020 and 2019, 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 United States federal income tax return. Subsequent to the GT&S Transaction, Berkshire Hathaway includes Eastern Energy Gas in its consolidated United States federal income tax return. Consistent with established regulatory practice, Eastern Energy Gas' provision for income taxes has been computed on a stand-alone 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 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 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. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Allowance for Doubtful Accounts [Line Items] | |
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): 2021 2020 2019 Beginning balance $ 77 $ 44 $ 42 Charged to operating costs and expenses, net 81 56 47 Acquisitions — 5 — Write-offs, net (50) (28) (45) Ending balance $ 108 $ 77 $ 44 |
PAC | |
Allowance for Doubtful Accounts [Line Items] | |
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): 2021 2020 2019 Beginning balance $ 17 $ 8 $ 8 Charged to operating costs and expenses, net 13 18 13 Write-offs, net (12) (9) (13) Ending balance $ 18 $ 17 $ 8 |
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 2021 2020 Utility Plant: Generation 15 - 59 years $ 13,679 $ 12,861 Transmission 60 - 90 years 7,894 7,632 Distribution 20 - 75 years 8,044 7,660 Intangible plant (1) 5 - 75 years 1,106 1,054 Other 5 - 60 years 1,539 1,510 Utility plant in-service 32,262 30,717 Accumulated depreciation and amortization (10,507) (9,838) Utility plant in-service, net 21,755 20,879 Other non-regulated, net of accumulated depreciation and amortization 14 - 95 years 18 9 Plant, net 21,773 20,888 Construction work-in-progress 1,141 1,542 Property, plant and equipment, net $ 22,914 $ 22,430 (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 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): 2021 2020 2019 Beginning balance $ 12 $ 5 $ 7 Charged to operating costs and expenses, net 10 12 9 Write-offs, net (10) (5) (11) Ending balance $ 12 $ 12 $ 5 |
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 2021 2020 Utility plant in-service, net: Generation 20-70 years $ 17,397 $ 16,980 Transmission 52-75 years 2,474 2,365 Electric distribution 20-75 years 4,661 4,369 Natural gas distribution 29-75 years 2,039 1,955 Utility plant in-service 26,571 25,669 Accumulated depreciation and amortization (7,376) (6,902) Utility plant in-service, net 19,195 18,767 Nonregulated property, net: Nonregulated property gross 20-50 years 7 7 Accumulated depreciation and amortization (1) (1) Nonregulated property, net 6 6 19,201 18,773 Construction work-in-progress 1,100 506 Property, plant and equipment, net $ 20,301 $ 19,279 |
NPC | |
Allowance for Doubtful Accounts [Line Items] | |
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): 2021 2020 2019 Beginning balance $ 19 $ 15 $ 16 Charged to operating costs and expenses, net 13 13 12 Write-offs, net (14) (9) (13) Ending balance $ 18 $ 19 $ 15 |
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 2021 2020 Utility plant: Generation 30 - 55 years $ 3,793 $ 3,690 Transmission 45 - 70 years 1,503 1,468 Distribution 20 - 65 years 3,920 3,771 General and intangible plant 5 - 65 years 836 791 Utility plant 10,052 9,720 Accumulated depreciation and amortization (3,406) (3,162) Utility plant, net 6,646 6,558 Other non-regulated, net of accumulated depreciation and amortization 45 years 1 1 Plant, net 6,647 6,559 Construction work-in-progress 244 142 Property, plant and equipment, net $ 6,891 $ 6,701 |
SPPC | |
Allowance for Doubtful Accounts [Line Items] | |
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): 2021 2020 2019 Beginning balance $ 2 $ 2 $ 2 Charged to operating costs and expenses, net 2 2 1 Write-offs, net (3) (2) (1) Ending balance $ 1 $ 2 $ 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 2021 2020 Utility plant: Electric generation 25 - 60 years $ 1,163 $ 1,130 Electric transmission 50 - 100 years 940 908 Electric distribution 20 - 100 years 1,846 1,754 Electric general and intangible plant 5 - 70 years 204 189 Natural gas distribution 35 - 70 years 438 429 Natural gas general and intangible plant 5 - 70 years 14 15 Common general 5 - 70 years 370 355 Utility plant 4,975 4,780 Accumulated depreciation and amortization (1,854) (1,755) Utility plant, net 3,121 3,025 Other non-regulated, net of accumulated depreciation and amortization 70 years — 2 Plant, net 3,121 3,027 Construction work-in-progress 219 137 Property, plant and equipment, net $ 3,340 $ 3,164 |
EEGH | |
Allowance for Doubtful Accounts [Line Items] | |
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): 2021 2020 2019 Beginning balance $ 5 $ 2 $ — Charged to operating costs and expenses, net 1 4 2 Write-offs, net — (1) — Ending balance $ 6 $ 5 $ 2 |
Business Acquisitions (Tables)
Business Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions): Fair Value Current assets, including cash and cash equivalents of $104 $ 582 Property, plant and equipment 9,264 Goodwill 1,741 Regulatory assets 108 Deferred income taxes 284 Other long-term assets 1,424 Total assets 13,403 Current liabilities, including current portion of long-term debt of $1,200 1,616 Long-term debt, less current portion 4,415 Regulatory liabilities 650 Other long-term liabilities 292 Total liabilities 6,973 Noncontrolling interest 3,916 Net assets acquired $ 2,514 |
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 2019 Operating revenue $ 22,581 $ 21,979 Net income attributable to BHE shareholders $ 6,800 $ 3,271 |
Business Acquisitions and Dis_2
Business Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
EEGH | |
Schedule of Discontinued Operations | The following table represents selected information regarding the results of operations of East Ohio, which are reported as discontinued operations in Eastern Energy Gas' Consolidated Statements of Operations (in millions): Period Ended Operating revenue $ 594 Depreciation and amortization 73 Other operating expenses 399 Other income (expense), net 28 Income tax expense 26 Net income from discontinued operations $ 124 Capital expenditures and significant noncash items relating to East Ohio included the following (in millions): Period Ended Capital expenditures $ 299 Significant noncash items: Charge related to a voluntary retirement program 20 Accrued capital expenditures 2 The following table represents selected information regarding the results of operations of EGP, which are reported as discontinued operations in Eastern Energy Gas' Consolidated Statements of Operations (in millions): Period Ended Operating revenue $ 125 Depreciation and amortization 4 Other operating expenses 97 Income tax expense 7 Net income from discontinued operations $ 17 Capital expenditures of EGP included the following (in millions): Period Ended Capital expenditures $ 11 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 2021 2020 Regulated assets: Utility generation, transmission and distribution systems 5-80 years $ 90,223 $ 86,730 Interstate natural gas pipeline assets 3-80 years 17,423 16,667 107,646 103,397 Accumulated depreciation and amortization (32,680) (30,662) Regulated assets, net 74,966 72,735 Nonregulated assets: Independent power plants 2-50 years 7,665 7,012 Cove Point LNG facility 40 years 3,364 3,339 Other assets 2-30 years 2,666 2,320 13,695 12,671 Accumulated depreciation and amortization (3,041) (2,586) Nonregulated assets, net 10,654 10,085 Net operating assets 85,620 82,820 Construction work-in-progress 4,196 3,308 Property, plant and equipment, net $ 89,816 $ 86,128 |
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 2021 2020 Utility Plant: Generation 15 - 59 years $ 13,679 $ 12,861 Transmission 60 - 90 years 7,894 7,632 Distribution 20 - 75 years 8,044 7,660 Intangible plant (1) 5 - 75 years 1,106 1,054 Other 5 - 60 years 1,539 1,510 Utility plant in-service 32,262 30,717 Accumulated depreciation and amortization (10,507) (9,838) Utility plant in-service, net 21,755 20,879 Other non-regulated, net of accumulated depreciation and amortization 14 - 95 years 18 9 Plant, net 21,773 20,888 Construction work-in-progress 1,141 1,542 Property, plant and equipment, net $ 22,914 $ 22,430 (1) Computer software costs included in intangible plant are initially assigned a depreciable life of 5 to 10 years. |
MEC | |
Property, Plant and Equipment [Line Items] | |
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 2021 2020 Utility plant in-service, net: Generation 20-70 years $ 17,397 $ 16,980 Transmission 52-75 years 2,474 2,365 Electric distribution 20-75 years 4,661 4,369 Natural gas distribution 29-75 years 2,039 1,955 Utility plant in-service 26,571 25,669 Accumulated depreciation and amortization (7,376) (6,902) Utility plant in-service, net 19,195 18,767 Nonregulated property, net: Nonregulated property gross 20-50 years 7 7 Accumulated depreciation and amortization (1) (1) Nonregulated property, net 6 6 19,201 18,773 Construction work-in-progress 1,100 506 Property, plant and equipment, net $ 20,301 $ 19,279 |
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: 2021 2020 2019 Electric 3.3 % 3.2 % 3.1 % Natural gas 2.8 % 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 2021 2020 Utility plant: Generation 30 - 55 years $ 3,793 $ 3,690 Transmission 45 - 70 years 1,503 1,468 Distribution 20 - 65 years 3,920 3,771 General and intangible plant 5 - 65 years 836 791 Utility plant 10,052 9,720 Accumulated depreciation and amortization (3,406) (3,162) Utility plant, net 6,646 6,558 Other non-regulated, net of accumulated depreciation and amortization 45 years 1 1 Plant, net 6,647 6,559 Construction work-in-progress 244 142 Property, plant and equipment, net $ 6,891 $ 6,701 |
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 2021 2020 Utility plant: Electric generation 25 - 60 years $ 1,163 $ 1,130 Electric transmission 50 - 100 years 940 908 Electric distribution 20 - 100 years 1,846 1,754 Electric general and intangible plant 5 - 70 years 204 189 Natural gas distribution 35 - 70 years 438 429 Natural gas general and intangible plant 5 - 70 years 14 15 Common general 5 - 70 years 370 355 Utility plant 4,975 4,780 Accumulated depreciation and amortization (1,854) (1,755) Utility plant, net 3,121 3,025 Other non-regulated, net of accumulated depreciation and amortization 70 years — 2 Plant, net 3,121 3,027 Construction work-in-progress 219 137 Property, plant and equipment, net $ 3,340 $ 3,164 |
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 2021 2020 Utility Plant: Interstate natural gas pipeline assets 21 - 44 years $ 8,675 $ 8,382 Intangible plant 5 - 10 years 110 115 Utility plant in-service 8,785 8,497 Accumulated depreciation and amortization (2,901) (2,759) Utility plant in-service, net 5,884 5,738 Nonutility Plant: LNG facility 40 years 4,475 4,454 Intangible plant 14 years 25 25 Nonutility plant in-service 4,500 4,479 Accumulated depreciation and amortization (423) (283) Nonutility plant in-service, net 4,077 4,196 Plant, net 9,961 9,934 Construction work- in-progress 239 210 Property, plant and equipment, net $ 10,200 $ 10,144 |
Jointly Owned Utility Facilit_2
Jointly Owned Utility Facilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 (dollars in millions): Accumulated Construction Company Facility In Depreciation and Work-in- Share Service Amortization Progress PacifiCorp: Jim Bridger Nos. 1-4 67 % $ 1,523 $ 812 $ 15 Hunter No. 1 94 489 221 8 Hunter No. 2 60 306 138 1 Wyodak 80 477 269 8 Colstrip Nos. 3 and 4 10 260 161 3 Hermiston 50 185 99 — Craig Nos. 1 and 2 19 369 319 — Hayden No. 1 25 77 47 — Hayden No. 2 13 44 28 — Transmission and distribution facilities Various 879 269 118 Total PacifiCorp 4,609 2,363 153 MidAmerican Energy: Louisa No. 1 88 % 864 501 20 Quad Cities Nos. 1 and 2 (1) 25 732 452 9 Walter Scott, Jr. No. 3 79 949 518 15 Walter Scott, Jr. No. 4 (2) 60 225 134 8 George Neal No. 4 41 318 184 4 Ottumwa No. 1 52 674 264 11 George Neal No. 3 72 528 286 9 Transmission facilities Various 263 100 4 Total MidAmerican Energy 4,553 2,439 80 NV Energy: Navajo 11 % 5 5 — Valmy 50 394 309 1 On Line Transmission Line 25 160 31 1 Transmission facilities Various 65 34 — Total NV Energy 624 379 2 BHE Pipeline Group: Ellisburg Pool 39 % 31 11 1 Ellisburg Station 50 26 8 1 Harrison 50 53 18 — Leidy 50 132 46 7 Oakford 50 200 68 2 Common Facilities Various 276 166 — Total BHE Pipeline Group 718 317 11 Total $ 10,504 $ 5,498 $ 246 (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, 2021 (dollars in millions): Facility Accumulated Construction PacifiCorp in Depreciation and Work-in- Share Service Amortization Progress Jim Bridger Nos. 1 - 4 67 % $ 1,523 $ 812 $ 15 Hunter No. 1 94 489 221 8 Hunter No. 2 60 306 138 1 Wyodak 80 477 269 8 Colstrip Nos. 3 and 4 10 260 161 3 Hermiston 50 185 99 — Craig Nos. 1 and 2 19 369 319 — Hayden No. 1 25 77 47 — Hayden No. 2 13 44 28 — Transmission and distribution facilities Various 879 269 118 Total $ 4,609 $ 2,363 $ 153 |
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, 2021 (dollars in millions): Accumulated Construction Company Plant in Depreciation and Work-in- Share Service Amortization Progress Louisa Unit No. 1 88 % $ 864 $ 501 $ 20 Quad Cities Unit Nos. 1 & 2 (1) 25 732 452 9 Walter Scott, Jr. Unit No. 3 79 949 518 15 Walter Scott, Jr. Unit No. 4 (2) 60 225 134 8 George Neal Unit No. 4 41 318 184 4 Ottumwa Unit No. 1 52 674 264 11 George Neal Unit No. 3 72 528 286 9 Transmission facilities Various 263 100 4 Total $ 4,553 $ 2,439 $ 80 (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 $561 million and $127 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, 2021 (dollars in millions): Nevada Construction Power's Utility Accumulated Work-in- Share Plant Depreciation Progress Navajo Generating Station (1) 11 % $ 5 $ 5 $ — ON Line Transmission Line 19 120 23 1 Other transmission facilities Various 61 32 — Total $ 186 $ 60 $ 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, 2021 (dollars in millions): Sierra Construction Pacific's Utility Accumulated Work-in- Share Plant Depreciation Progress Valmy Generating Station 50 % $ 394 $ 309 $ 1 ON Line Transmission Line 6 40 8 — Valmy Transmission 50 4 2 — Total $ 438 $ 319 $ 1 |
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, 2021 (dollars in millions): Accumulated Construction Eastern Energy Gas' Facility in Depreciation and Work-in- Share Service Amortization Progress Ellisburg Pool 39 % $ 31 $ 11 $ 1 Ellisburg Station 50 26 8 1 Harrison 50 53 18 — Leidy 50 132 46 7 Oakford 50 200 68 2 Total $ 442 $ 151 $ 11 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 Right-of-use assets: Operating leases $ 524 $ 517 Finance leases 448 501 Total right-of-use assets $ 972 $ 1,018 Lease liabilities: Operating leases $ 577 $ 569 Finance leases 463 514 Total lease liabilities $ 1,040 $ 1,083 |
Schedule of Lease Cost | The following table summarizes the Company's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 611 $ 592 $ 623 Operating 161 151 170 Finance: Amortization 23 18 16 Interest 38 40 41 Short-term 15 20 7 Total lease costs $ 848 $ 821 $ 857 Weighted-average remaining lease term (years): Operating leases 7.6 7.4 7.6 Finance leases 28.1 27.5 28.8 Weighted-average discount rate: Operating leases 4.3 % 4.5 % 5.2 % Finance leases 8.6 % 8.5 % 8.6 % |
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): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (163) $ (152) $ (153) Operating cash flows from finance leases (38) (40) (42) Financing cash flows from finance leases (28) (24) (19) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 119 $ 83 $ 82 Finance leases 2 19 14 |
Schedule of Lease Maturity | The Company has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 157 $ 72 $ 229 2023 124 62 186 2024 93 62 155 2025 71 60 131 2026 55 60 115 Thereafter 186 607 793 Total undiscounted lease payments 686 923 1,609 Less - amounts representing interest (109) (460) (569) Lease liabilities $ 577 $ 463 $ 1,040 Sierra Pacific has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 1 $ 16 $ 17 2023 1 16 17 2024 1 15 16 2025 1 15 16 2026 1 15 16 Thereafter 24 149 173 Total undiscounted lease payments 29 226 255 Less - amounts representing interest (14) (111) (125) Lease liabilities $ 15 $ 115 $ 130 |
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): 2021 2020 Right-of-use assets: Operating leases $ 11 $ 11 Finance leases 11 17 Total right-of-use assets $ 22 $ 28 Lease liabilities: Operating leases $ 11 $ 11 Finance leases 12 17 Total lease liabilities $ 23 $ 28 |
Schedule of Lease Cost | The following table summarizes PacifiCorp's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 56 $ 60 $ 77 Operating 3 3 3 Finance: Amortization 5 2 1 Interest 2 2 2 Short-term 3 1 2 Total lease costs $ 69 $ 68 $ 85 Weighted-average remaining lease term (years): Operating leases 12.7 13.9 14.0 Finance leases 10.1 8.4 9.1 Weighted-average discount rate: Operating leases 3.7 % 3.8 % 3.7 % Finance leases 11.1 % 10.5 % 10.6 % |
Schedule of Lease Maturity | PacifiCorp has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 3 $ 6 2023 2 2 4 2024 1 2 3 2025 1 2 3 2026 1 2 3 Thereafter 6 10 16 Total undiscounted lease payments 14 21 35 Less - amounts representing interest (3) (9) (12) Lease liabilities $ 11 $ 12 $ 23 |
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): 2021 2020 Right-of-use assets: Operating leases $ 10 $ 12 Finance leases 326 351 Total right-of-use assets $ 336 $ 363 Lease liabilities: Operating leases $ 13 $ 15 Finance leases 336 361 Total lease liabilities $ 349 $ 376 |
Schedule of Lease Cost | The following table summarizes Nevada Power's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 449 $ 434 $ 434 Operating 2 3 3 Finance: Amortization 13 12 13 Interest 28 29 37 Total lease costs $ 492 $ 478 $ 487 Weighted-average remaining lease term (years): Operating leases 5.7 6.5 7.5 Finance leases 28.7 28.7 30.6 Weighted-average discount rate: Operating leases 4.5 % 4.5 % 4.5 % Finance leases 8.6 % 8.6 % 8.7 % |
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): 2021 2020 2019 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 (29) (34) (37) Financing cash flows from finance leases (16) (15) (14) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ — $ 1 $ — Finance leases 1 9 9 |
Schedule of Lease Maturity | Nevada Power has the following remaining lease commitments as of December 31, 2021 (in millions): Operating Finance Total 2022 $ 3 $ 54 $ 57 2023 2 44 46 2024 3 44 47 2025 2 43 45 2026 3 43 46 Thereafter 2 448 450 Total undiscounted lease payments 15 676 691 Less - amounts representing interest (2) (340) (342) Lease liabilities $ 13 $ 336 $ 349 |
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): 2021 2020 Right-of-use assets: Operating leases $ 15 $ 16 Finance leases 111 126 Total right-of-use assets $ 126 $ 142 Lease liabilities: Operating leases $ 15 $ 16 Finance leases 115 130 Total lease liabilities $ 130 $ 146 |
Schedule of Lease Cost | The following table summarizes Sierra Pacific's lease costs for the years ended December 31 (in millions): 2021 2020 2019 Variable $ 86 $ 78 $ 69 Operating 1 2 1 Finance: Amortization 5 4 2 Interest 9 9 2 Total lease costs $ 101 $ 93 $ 74 Weighted-average remaining lease term (years): Operating leases 27.4 27.2 26.3 Finance leases 28.4 27.8 20.9 Weighted-average discount rate: Operating leases 5.0 % 5.0 % 5.0 % Finance leases 8.2 % 8.1 % 7.1 % |
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): 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1) $ (2) $ (3) Operating cash flows from finance leases (9) (6) (3) Financing cash flows from finance leases (7) (5) (3) Right-of-use assets obtained in exchange for lease liabilities: Finance leases $ 1 $ 89 $ 5 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 2021 2020 Asset retirement obligations 14 years $ 742 $ 640 Deferred net power costs 1 year 531 139 Employee benefit plans (1) 15 years 472 722 Deferred income taxes (2) Various 342 283 Asset disposition costs Various 285 347 Demand side management 10 years 211 197 Unrealized loss on regulated derivative contracts Various 157 31 Environmental costs 28 years 108 89 Deferred operating costs 9 years 103 124 Other Various 1,012 868 Total regulatory assets $ 3,963 $ 3,440 Reflected as: Current assets $ 544 $ 283 Noncurrent assets 3,419 3,157 Total regulatory assets $ 3,963 $ 3,440 (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 | 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 2021 2020 Deferred income taxes (1) Various $ 3,185 $ 3,600 Cost of removal (2) 26 years 2,424 2,435 Asset retirement obligations 31 years 345 305 Levelized depreciation 29 years 259 281 Employee benefit plans (3) Various 243 187 Other Various 758 667 Total regulatory liabilities $ 7,214 $ 7,475 Reflected as: Current liabilities $ 254 $ 254 Noncurrent liabilities 6,960 7,221 Total regulatory liabilities $ 7,214 $ 7,475 (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 2021 2020 Employee benefit plans (1) 17 years $ 286 $ 432 Utah mine disposition (2) Various 116 117 Unamortized contract values 2 years 36 42 Deferred net power costs 2 years 151 78 Unrealized loss on derivative contracts N/A — 17 Environmental costs 28 years 108 89 Asset retirement obligation 29 years 241 252 Demand side management (DSM) (3) 10 years 211 196 Other Various 203 172 Total regulatory assets $ 1,352 $ 1,395 Reflected as: Current assets $ 65 $ 116 Noncurrent assets 1,287 1,279 Total regulatory assets $ 1,352 $ 1,395 (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. (3) In accordance with the Utah general rate case order issued in December 2020, $185 million of amounts billed to Utah customers under the Utah STEP program were used to accelerate depreciation of certain coal-fueled generation units as discussed in Note 3. |
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 2021 2020 Cost of removal (1) 26 years $ 1,187 $ 1,125 Deferred income taxes (2) Various 1,307 1,463 Unrealized gain on regulated derivatives 1 year 53 — Other Various 221 254 Total regulatory liabilities $ 2,768 $ 2,842 Reflected as: Current liabilities $ 118 $ 115 Noncurrent liabilities 2,650 2,727 Total regulatory liabilities $ 2,768 $ 2,842 (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, 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 2021 2020 Asset retirement obligations (1) 6 years $ 393 $ 298 Employee benefit plans (2) 13 years 42 66 Unrealized loss on regulated derivative contracts 1 year 5 — Other Various 33 28 Total $ 473 $ 392 (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 2021 2020 Cost of removal accrual (1) 29 years $ 394 $ 466 Asset retirement obligations (2) 31 years 341 300 Iowa electric revenue sharing accrual (3) 1 year 115 — Deferred income taxes (4) Various 83 263 Employee benefit plans (5) 9 years 55 20 Pre-funded AFUDC on transmission MVPs (6) 51 years 34 35 Unrealized gain on regulated derivative contracts 1 year 26 2 Other Various 32 25 Total $ 1,080 $ 1,111 (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) Amount represents the excess of nuclear decommission trust assets over the related ARO. Refer to Note 11 for a discussion of AROs. (3) Represents current-year accruals under a regulatory arrangement in Iowa in which equity returns exceeding specified thresholds reduce utility plant upon final determination. (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 amounts not yet recognized as a component of net periodic benefit cost that are to be returned to customers in future periods when recognized. (6) 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. |
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 2021 2020 Deferred energy costs 1 year $ 273 $ 39 Decommissioning costs 2 years 169 230 Unrealized loss on regulated derivative contracts 1 year 117 11 Merger costs from 1999 merger 23 years 110 115 Deferred operating costs 12 years 93 119 Asset retirement obligations 6 years 73 70 ON Line deferrals 32 years 42 43 Legacy meters 11 years 41 45 Employee benefit plans (1) 8 years 11 50 Other Various 90 72 Total regulatory assets $ 1,019 $ 794 Reflected as: Current assets $ 291 $ 48 Noncurrent assets 728 746 Total regulatory assets $ 1,019 $ 794 (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. 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 2021 2020 Deferred income taxes (1) Various $ 603 $ 647 Cost of removal (2) 31 years 348 340 Other Various 198 226 Total regulatory liabilities $ 1,149 $ 1,213 Reflected as: Current liabilities $ 49 $ 50 Noncurrent liabilities 1,100 1,163 Total regulatory liabilities $ 1,149 $ 1,213 (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 2021 2020 Deferred energy costs 1 year $ 107 $ 22 Merger costs from 1999 merger 25 years 66 68 Natural disaster protection plan 1 year 62 45 Employee benefit plans (1) 8 years 46 81 Unrealized loss on regulated derivative contracts 1 year 35 2 Deferred operating costs 8 years 31 27 Abandoned projects 5 years 19 22 Other Various 74 67 Total regulatory assets $ 440 $ 334 Reflected as: Current assets $ 177 $ 67 Noncurrent assets 263 267 Total regulatory assets $ 440 $ 334 (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 2021 2020 Deferred income taxes (1) Various $ 234 $ 249 Cost of removal (2) 36 years 201 197 Other Various 28 51 Total regulatory liabilities $ 463 $ 497 Reflected as: Current liabilities $ 19 $ 34 Noncurrent liabilities 444 463 Total regulatory liabilities $ 463 $ 497 (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 2021 2020 Employee benefit plans (1) 14 years $ 62 $ 70 Other Various 12 12 Total regulatory assets $ 74 $ 82 Reflected as: Other current assets $ 6 $ 8 Other assets 68 74 Total regulatory assets $ 74 $ 82 (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 2021 2020 Income taxes refundable through future rates (1) Various $ 468 $ 473 Other postretirement benefit costs (2) Various 116 115 Cost of removal (3) 44 years 73 88 Other Various 28 33 Total regulatory liabilities $ 685 $ 709 Reflected as: Current liabilities $ 40 $ 40 Noncurrent liabilities 645 669 Total regulatory liabilities $ 685 $ 709 (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) 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. |
Investments and Restricted Ca_2
Investments and Restricted Cash and Cash Equivalents and Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Investments | Investments and restricted cash and cash equivalents and investments consists of the following as of December 31 (in millions): 2021 2020 Investments: BYD Company Limited common stock $ 7,693 $ 5,897 Rabbi trusts 492 440 Other 305 263 Total investments 8,490 6,600 Equity method investments: BHE Renewables tax equity investments 4,931 5,626 Iroquois Gas Transmission System, L.P. 735 580 Electric Transmission Texas, LLC 595 594 JAX LNG, LLC 92 75 Bridger Coal Company 45 74 Other 156 118 Total equity method investments 6,554 7,067 Restricted cash and cash equivalents and investments: Quad Cities Station nuclear decommissioning trust funds 768 676 Other restricted cash and cash equivalents 148 155 Total restricted cash and cash equivalents and investments 916 831 Total investments and restricted cash and cash equivalents and investments $ 15,960 $ 14,498 Reflected as: Other current assets $ 172 $ 178 Noncurrent assets 15,788 14,320 Total investments and restricted cash and cash equivalents and investments $ 15,960 $ 14,498 |
Schedule of Unrealized Gain (Loss) on Investments | Gains (losses) on marketable securities, net recognized during the period consists of the following for the years ended December 31 (in millions): 2021 2020 2019 Unrealized gains (losses) recognized on marketable securities held at the reporting date $ 1,819 $ 4,791 $ (290) Net gains recognized on marketable securities sold during the period 4 6 2 Gains (losses) on marketable securities, net $ 1,823 $ 4,797 $ (288) |
MEC | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Investments | Investments and restricted investments consists of the following amounts as of December 31 (in millions): 2021 2020 Nuclear decommissioning trust $ 768 $ 676 Rabbi trusts 233 211 Other 25 24 Total $ 1,026 $ 911 |
EEGH | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | |
Schedule of Investments and Restricted Cash and Investments | Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions): 2021 2020 Investments: Investment funds $ 13 $ — Equity method investments: Iroquois 399 244 Total investments 412 244 Restricted cash and cash equivalents: Customer deposits 17 13 Total restricted cash and cash equivalents 17 13 Total investments and restricted cash and cash equivalents $ 429 $ 257 Reflected as: Current assets $ 17 $ 13 Noncurrent assets 412 244 Total investments and restricted cash and cash equivalents $ 429 $ 257 |
Short-term Debt and Credit Fa_2
Short-term Debt and Credit Facilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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) 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 2020: Credit facilities (2) $ 3,500 $ 1,200 $ 1,509 $ 650 $ 228 $ 923 $ 3,020 $ 11,030 Less: Short-term debt — (93) — (45) (23) (225) (1,900) (2,286) Tax-exempt bond support and letters of credit — (218) (370) — — (2) — (590) Net credit facilities $ 3,500 $ 889 $ 1,139 $ 605 $ 205 $ 696 $ 1,120 $ 8,154 (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 drawn uncommitted credit facilities totaling $1 million and $23 million, respectively, at Northern Powergrid as of December 31, 2021 and 2020. |
PAC | |
Line of Credit Facility [Line Items] | |
Schedule of Line of Credit Facilities | The following table summarizes PacifiCorp's availability under its credit facilities as of December 31 (in millions): 2021: Credit facilities $ 1,200 Less: Short-term debt — Tax-exempt bond support (218) Net credit facilities $ 982 2020: Credit facilities $ 1,200 Less: Short-term debt (93) Tax-exempt bond support (218) Net credit facilities $ 889 |
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): 2021 2020 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): 2021 2020 Credit facilities $ 400 $ 400 Short-term debt (180) — Net credit facilities $ 220 $ 400 |
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): 2021 2020 Credit facilities $ 250 $ 250 Short-term debt (159) (45) Net credit facilities $ 91 $ 205 |
BHE Debt (Tables)
BHE Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | 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 2021 2020 2.375% Senior Notes, due 2021 $ — $ — $ 448 2.80% Senior Notes, due 2023 400 398 398 3.75% Senior Notes, due 2023 500 499 498 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,246 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 260 257 3.70% Senior Notes, due 2030 1,100 1,096 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 1,488 1,488 Total BHE Senior Debt $ 13,101 $ 13,003 $ 13,447 Reflected as: Current liabilities $ — $ 450 Noncurrent liabilities 13,003 12,997 Total BHE Senior Debt $ 13,003 $ 13,447 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2021 2020 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 2021 2020 PacifiCorp $ 8,797 $ 8,730 $ 8,612 MidAmerican Funding 8,047 7,946 7,431 NV Energy 3,701 3,675 3,673 Northern Powergrid 3,321 3,287 3,259 BHE Pipeline Group 5,534 5,924 6,165 BHE Transmission 3,924 3,906 3,877 BHE Renewables 3,073 3,043 3,116 HomeServices 148 148 186 Total subsidiary debt $ 36,545 $ 36,659 $ 36,319 Reflected as: Current liabilities $ 1,265 $ 1,389 Noncurrent liabilities 35,394 34,930 Total subsidiary debt $ 36,659 $ 36,319 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 2021 2020 First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 $ 2,245 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 1,094 5.25% to 6.10%, due 2032 to 2036 850 845 845 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 2,137 4.10%, due 2042 300 297 297 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 1,776 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 8,797 $ 8,730 $ 8,612 (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 2021 2020 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 225 $ 221 MidAmerican Energy: Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047 370 368 368 First Mortgage Bonds: 3.70%, due 2023 250 250 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Total MidAmerican Energy 7,808 7,721 7,210 Total MidAmerican Funding $ 8,047 $ 7,946 $ 7,431 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 2021 2020 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 361 361 6.750% Series R, due 2037 349 347 347 5.375% Series X, due 2040 250 249 249 5.450% Series Y, due 2041 250 246 244 3.125% Series EE, due 2050 300 297 297 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 Total Nevada Power 2,534 2,510 2,507 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 252 254 256 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (2) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (3) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (2) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (2) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (2) 20 20 20 Total Sierra Pacific 1,167 1,165 1,166 Total NV Energy $ 3,701 $ 3,675 $ 3,673 (1) Bonds were purchased by Nevada Power in May 2020 and re-offered at a fixed interest rate. Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (3) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. 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) 2021 2020 4.133% European Investment Bank loans, due 2022 $ 204 $ 204 $ 206 7.25% Bonds, due 2022 271 269 277 2.50% Bonds, due 2025 203 202 203 2.073% European Investment Bank loan, due 2025 67 69 70 2.564% European Investment Bank loans, due 2027 338 337 340 7.25% Bonds, due 2028 251 254 257 4.375% Bonds, due 2032 203 200 202 5.125% Bonds, due 2035 271 268 270 5.125% Bonds, due 2035 203 201 203 2.750% Bonds, due 2049 203 200 202 2.250% Bonds, due 2059 406 398 402 1.875% Bonds, due 2062 406 398 403 Variable-rate loan, due 2026 (2) — — 183 Variable-rate loan, due 2026 (3) — — 41 Variable-rate loan, due 2026 (4) 295 287 — Total Northern Powergrid $ 3,321 $ 3,287 $ 3,259 (1) The par values for these debt instruments are denominated in sterling. (2) The Company had entered into an interest rate swap that fixed the interest rate on 89% of the outstanding debt. The variable interest rate as of December 31, 2020 was 2.03% (including 2.0% margin) and the fixed interest rate was 3.07% (including 2.0% margin), resulting in a blended rate of 2.96%. (3) The variable interest rate as of December 31, 2020 was 2.02% (including 2.0% margin). (4) 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, 2021 was 1.73% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.30%. 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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total Eastern Energy Gas 3,934 3,906 4,425 Fair value adjustments — 430 493 Total Eastern Energy Gas, net of fair value adjustments 3,934 4,336 4,918 Northern Natural Gas: 4.25% Senior Notes, due 2021 — — 200 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 651 650 3.40% Senior Bonds, due 2051 550 540 — Total Northern Natural Gas 1,600 1,588 1,247 Total BHE Pipeline Group $ 5,534 $ 5,924 $ 6,165 (1) The senior notes had variable interest rates based on LIBOR plus an applicable margin. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% including a 0.60% margin. (2) 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, 2021 and 2020 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) 2021 2020 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ 158 $ 158 $ 157 Total AltaLink Investments, L.P. 158 158 157 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 218 218 216 Series 2013-4 Notes, 3.668%, due 2023 396 395 392 Series 2014-1 Notes, 3.399%, due 2024 277 277 275 Series 2016-1 Notes, 2.747%, due 2026 277 276 274 Series 2020-1 Notes, 1.509%, due 2030 178 177 175 Series 2006-1 Notes, 5.249%, due 2036 119 118 118 Series 2010-1 Notes, 5.381%, due 2040 99 99 98 Series 2010-2 Notes, 4.872%, due 2040 119 118 117 Series 2011-1 Notes, 4.462%, due 2041 218 217 215 Series 2012-1 Notes, 3.990%, due 2042 415 410 407 Series 2013-3 Notes, 4.922%, due 2043 277 276 274 Series 2014-3 Notes, 4.054%, due 2044 233 232 230 Series 2015-1 Notes, 4.090%, due 2045 277 275 273 Series 2016-2 Notes, 3.717%, due 2046 356 354 351 Series 2013-1 Notes, 4.446%, due 2053 198 197 196 Series 2014-2 Notes, 4.274%, due 2064 103 103 102 Total AltaLink, L.P. 3,760 3,742 3,713 Other: Construction Loan, 5.620%, due 2024 6 6 7 Total BHE Transmission $ 3,924 $ 3,906 $ 3,877 (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 2021 2020 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 62 $ 62 $ 69 Solar Star Funding Senior Notes, 3.950%, due 2035 258 256 269 Solar Star Funding Senior Notes, 5.375%, due 2035 826 819 853 Grande Prairie Wind Senior Notes, 3.860%, due 2037 299 297 327 Topaz Solar Farms Senior Notes, 5.750%, due 2039 606 600 631 Topaz Solar Farms Senior Notes, 4.875%, due 2039 172 170 180 Alamo 6 Senior Notes, 4.170%, due 2042 199 197 205 Other 5 5 8 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 119 117 138 Marshall Wind Term Loan, due 2026 (2) 64 63 69 Flat Top Wind I Term Loan, due 2028 (2) 113 113 — Pinyon Pines I and II Term Loans, due 2034 (2) 350 344 367 Total BHE Renewables $ 3,073 $ 3,043 $ 3,116 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or Secured Overnight Financing Rate 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, 2021 and 2020 ranged from 3.21% to 3.88%. The variable interest rate on the Flat Top Wind I outstanding debt was 6.34% as of December 31, 2021. 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 2021 2020 Variable-rate: Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 (1) $ 148 $ 148 $ 186 (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 2021 2020 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%): 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 29 29 Due 2047 150 149 149 Total $ 7,808 $ 7,721 $ 7,210 |
Subsidiary Debt (Tables)
Subsidiary Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | 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 2021 2020 2.375% Senior Notes, due 2021 $ — $ — $ 448 2.80% Senior Notes, due 2023 400 398 398 3.75% Senior Notes, due 2023 500 499 498 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,246 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 260 257 3.70% Senior Notes, due 2030 1,100 1,096 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 1,488 1,488 Total BHE Senior Debt $ 13,101 $ 13,003 $ 13,447 Reflected as: Current liabilities $ — $ 450 Noncurrent liabilities 13,003 12,997 Total BHE Senior Debt $ 13,003 $ 13,447 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2021 2020 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 2021 2020 PacifiCorp $ 8,797 $ 8,730 $ 8,612 MidAmerican Funding 8,047 7,946 7,431 NV Energy 3,701 3,675 3,673 Northern Powergrid 3,321 3,287 3,259 BHE Pipeline Group 5,534 5,924 6,165 BHE Transmission 3,924 3,906 3,877 BHE Renewables 3,073 3,043 3,116 HomeServices 148 148 186 Total subsidiary debt $ 36,545 $ 36,659 $ 36,319 Reflected as: Current liabilities $ 1,265 $ 1,389 Noncurrent liabilities 35,394 34,930 Total subsidiary debt $ 36,659 $ 36,319 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 2021 2020 First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 $ 2,245 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 1,094 5.25% to 6.10%, due 2032 to 2036 850 845 845 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 2,137 4.10%, due 2042 300 297 297 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 1,776 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 8,797 $ 8,730 $ 8,612 (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 2021 2020 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 225 $ 221 MidAmerican Energy: Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047 370 368 368 First Mortgage Bonds: 3.70%, due 2023 250 250 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Total MidAmerican Energy 7,808 7,721 7,210 Total MidAmerican Funding $ 8,047 $ 7,946 $ 7,431 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 2021 2020 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 361 361 6.750% Series R, due 2037 349 347 347 5.375% Series X, due 2040 250 249 249 5.450% Series Y, due 2041 250 246 244 3.125% Series EE, due 2050 300 297 297 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 Total Nevada Power 2,534 2,510 2,507 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 252 254 256 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (2) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (3) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (2) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (2) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (2) 20 20 20 Total Sierra Pacific 1,167 1,165 1,166 Total NV Energy $ 3,701 $ 3,675 $ 3,673 (1) Bonds were purchased by Nevada Power in May 2020 and re-offered at a fixed interest rate. Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (3) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. 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) 2021 2020 4.133% European Investment Bank loans, due 2022 $ 204 $ 204 $ 206 7.25% Bonds, due 2022 271 269 277 2.50% Bonds, due 2025 203 202 203 2.073% European Investment Bank loan, due 2025 67 69 70 2.564% European Investment Bank loans, due 2027 338 337 340 7.25% Bonds, due 2028 251 254 257 4.375% Bonds, due 2032 203 200 202 5.125% Bonds, due 2035 271 268 270 5.125% Bonds, due 2035 203 201 203 2.750% Bonds, due 2049 203 200 202 2.250% Bonds, due 2059 406 398 402 1.875% Bonds, due 2062 406 398 403 Variable-rate loan, due 2026 (2) — — 183 Variable-rate loan, due 2026 (3) — — 41 Variable-rate loan, due 2026 (4) 295 287 — Total Northern Powergrid $ 3,321 $ 3,287 $ 3,259 (1) The par values for these debt instruments are denominated in sterling. (2) The Company had entered into an interest rate swap that fixed the interest rate on 89% of the outstanding debt. The variable interest rate as of December 31, 2020 was 2.03% (including 2.0% margin) and the fixed interest rate was 3.07% (including 2.0% margin), resulting in a blended rate of 2.96%. (3) The variable interest rate as of December 31, 2020 was 2.02% (including 2.0% margin). (4) 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, 2021 was 1.73% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.30%. 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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total Eastern Energy Gas 3,934 3,906 4,425 Fair value adjustments — 430 493 Total Eastern Energy Gas, net of fair value adjustments 3,934 4,336 4,918 Northern Natural Gas: 4.25% Senior Notes, due 2021 — — 200 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 651 650 3.40% Senior Bonds, due 2051 550 540 — Total Northern Natural Gas 1,600 1,588 1,247 Total BHE Pipeline Group $ 5,534 $ 5,924 $ 6,165 (1) The senior notes had variable interest rates based on LIBOR plus an applicable margin. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% including a 0.60% margin. (2) 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, 2021 and 2020 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) 2021 2020 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ 158 $ 158 $ 157 Total AltaLink Investments, L.P. 158 158 157 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 218 218 216 Series 2013-4 Notes, 3.668%, due 2023 396 395 392 Series 2014-1 Notes, 3.399%, due 2024 277 277 275 Series 2016-1 Notes, 2.747%, due 2026 277 276 274 Series 2020-1 Notes, 1.509%, due 2030 178 177 175 Series 2006-1 Notes, 5.249%, due 2036 119 118 118 Series 2010-1 Notes, 5.381%, due 2040 99 99 98 Series 2010-2 Notes, 4.872%, due 2040 119 118 117 Series 2011-1 Notes, 4.462%, due 2041 218 217 215 Series 2012-1 Notes, 3.990%, due 2042 415 410 407 Series 2013-3 Notes, 4.922%, due 2043 277 276 274 Series 2014-3 Notes, 4.054%, due 2044 233 232 230 Series 2015-1 Notes, 4.090%, due 2045 277 275 273 Series 2016-2 Notes, 3.717%, due 2046 356 354 351 Series 2013-1 Notes, 4.446%, due 2053 198 197 196 Series 2014-2 Notes, 4.274%, due 2064 103 103 102 Total AltaLink, L.P. 3,760 3,742 3,713 Other: Construction Loan, 5.620%, due 2024 6 6 7 Total BHE Transmission $ 3,924 $ 3,906 $ 3,877 (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 2021 2020 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 62 $ 62 $ 69 Solar Star Funding Senior Notes, 3.950%, due 2035 258 256 269 Solar Star Funding Senior Notes, 5.375%, due 2035 826 819 853 Grande Prairie Wind Senior Notes, 3.860%, due 2037 299 297 327 Topaz Solar Farms Senior Notes, 5.750%, due 2039 606 600 631 Topaz Solar Farms Senior Notes, 4.875%, due 2039 172 170 180 Alamo 6 Senior Notes, 4.170%, due 2042 199 197 205 Other 5 5 8 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 119 117 138 Marshall Wind Term Loan, due 2026 (2) 64 63 69 Flat Top Wind I Term Loan, due 2028 (2) 113 113 — Pinyon Pines I and II Term Loans, due 2034 (2) 350 344 367 Total BHE Renewables $ 3,073 $ 3,043 $ 3,116 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or Secured Overnight Financing Rate 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, 2021 and 2020 ranged from 3.21% to 3.88%. The variable interest rate on the Flat Top Wind I outstanding debt was 6.34% as of December 31, 2021. 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 2021 2020 Variable-rate: Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 (1) $ 148 $ 148 $ 186 (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 2021 2020 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%): 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 29 29 Due 2047 150 149 149 Total $ 7,808 $ 7,721 $ 7,210 |
Schedule of Maturities of Long-term Debt | The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2022 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total BHE senior notes $ — $ 900 $ — $ 1,650 $ — $ 10,551 $ 13,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 155 449 592 301 100 7,200 8,797 MidAmerican Funding — 316 537 15 2 7,177 8,047 NV Energy — 250 — — 400 3,051 3,701 Northern Powergrid 526 56 56 318 84 2,281 3,321 BHE Pipeline Group — 650 1,050 — 284 3,550 5,534 BHE Transmission 377 397 282 — 277 2,591 3,924 BHE Renewables 199 200 210 241 218 2,005 3,073 HomeServices 8 7 9 15 109 — 148 Totals $ 1,265 $ 3,225 $ 2,736 $ 2,540 $ 1,474 $ 38,506 $ 49,746 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | 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 2021 2020 2.375% Senior Notes, due 2021 $ — $ — $ 448 2.80% Senior Notes, due 2023 400 398 398 3.75% Senior Notes, due 2023 500 499 498 3.50% Senior Notes, due 2025 400 398 398 4.05% Senior Notes, due 2025 1,250 1,246 1,246 3.25% Senior Notes, due 2028 600 594 594 8.48% Senior Notes, due 2028 256 260 257 3.70% Senior Notes, due 2030 1,100 1,096 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 1,488 1,488 Total BHE Senior Debt $ 13,101 $ 13,003 $ 13,447 Reflected as: Current liabilities $ — $ 450 Noncurrent liabilities 13,003 12,997 Total BHE Senior Debt $ 13,003 $ 13,447 BHE junior subordinated debentures consists of the following as of December 31 (in millions): Par Value 2021 2020 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 2021 2020 PacifiCorp $ 8,797 $ 8,730 $ 8,612 MidAmerican Funding 8,047 7,946 7,431 NV Energy 3,701 3,675 3,673 Northern Powergrid 3,321 3,287 3,259 BHE Pipeline Group 5,534 5,924 6,165 BHE Transmission 3,924 3,906 3,877 BHE Renewables 3,073 3,043 3,116 HomeServices 148 148 186 Total subsidiary debt $ 36,545 $ 36,659 $ 36,319 Reflected as: Current liabilities $ 1,265 $ 1,389 Noncurrent liabilities 35,394 34,930 Total subsidiary debt $ 36,659 $ 36,319 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 2021 2020 First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 $ 2,245 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 1,094 5.25% to 6.10%, due 2032 to 2036 850 845 845 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 2,137 4.10%, due 2042 300 297 297 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 1,776 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 25 Due 2024 to 2025 (1) 193 193 193 Total PacifiCorp $ 8,797 $ 8,730 $ 8,612 (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 2021 2020 MidAmerican Funding: 6.927% Senior Bonds, due 2029 $ 239 $ 225 $ 221 MidAmerican Energy: Tax-exempt bond obligations - Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047 370 368 368 First Mortgage Bonds: 3.70%, due 2023 250 250 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Total MidAmerican Energy 7,808 7,721 7,210 Total MidAmerican Funding $ 8,047 $ 7,946 $ 7,431 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 2021 2020 Nevada Power: General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 361 361 6.750% Series R, due 2037 349 347 347 5.375% Series X, due 2040 250 249 249 5.450% Series Y, due 2041 250 246 244 3.125% Series EE, due 2050 300 297 297 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 Total Nevada Power 2,534 2,510 2,507 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 252 254 256 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (2) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (3) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (2) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (2) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (2) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (2) 20 20 20 Total Sierra Pacific 1,167 1,165 1,166 Total NV Energy $ 3,701 $ 3,675 $ 3,673 (1) Bonds were purchased by Nevada Power in May 2020 and re-offered at a fixed interest rate. Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (3) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. 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) 2021 2020 4.133% European Investment Bank loans, due 2022 $ 204 $ 204 $ 206 7.25% Bonds, due 2022 271 269 277 2.50% Bonds, due 2025 203 202 203 2.073% European Investment Bank loan, due 2025 67 69 70 2.564% European Investment Bank loans, due 2027 338 337 340 7.25% Bonds, due 2028 251 254 257 4.375% Bonds, due 2032 203 200 202 5.125% Bonds, due 2035 271 268 270 5.125% Bonds, due 2035 203 201 203 2.750% Bonds, due 2049 203 200 202 2.250% Bonds, due 2059 406 398 402 1.875% Bonds, due 2062 406 398 403 Variable-rate loan, due 2026 (2) — — 183 Variable-rate loan, due 2026 (3) — — 41 Variable-rate loan, due 2026 (4) 295 287 — Total Northern Powergrid $ 3,321 $ 3,287 $ 3,259 (1) The par values for these debt instruments are denominated in sterling. (2) The Company had entered into an interest rate swap that fixed the interest rate on 89% of the outstanding debt. The variable interest rate as of December 31, 2020 was 2.03% (including 2.0% margin) and the fixed interest rate was 3.07% (including 2.0% margin), resulting in a blended rate of 2.96%. (3) The variable interest rate as of December 31, 2020 was 2.02% (including 2.0% margin). (4) 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, 2021 was 1.73% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.30%. 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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total Eastern Energy Gas 3,934 3,906 4,425 Fair value adjustments — 430 493 Total Eastern Energy Gas, net of fair value adjustments 3,934 4,336 4,918 Northern Natural Gas: 4.25% Senior Notes, due 2021 — — 200 5.80% Senior Bonds, due 2037 150 149 149 4.10% Senior Bonds, due 2042 250 248 248 4.30% Senior Bonds, due 2049 650 651 650 3.40% Senior Bonds, due 2051 550 540 — Total Northern Natural Gas 1,600 1,588 1,247 Total BHE Pipeline Group $ 5,534 $ 5,924 $ 6,165 (1) The senior notes had variable interest rates based on LIBOR plus an applicable margin. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% including a 0.60% margin. (2) 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, 2021 and 2020 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) 2021 2020 AltaLink Investments, L.P.: Series 15-1 Senior Bonds, 2.244%, due 2022 $ 158 $ 158 $ 157 Total AltaLink Investments, L.P. 158 158 157 AltaLink, L.P.: Series 2012-2 Notes, 2.978%, due 2022 218 218 216 Series 2013-4 Notes, 3.668%, due 2023 396 395 392 Series 2014-1 Notes, 3.399%, due 2024 277 277 275 Series 2016-1 Notes, 2.747%, due 2026 277 276 274 Series 2020-1 Notes, 1.509%, due 2030 178 177 175 Series 2006-1 Notes, 5.249%, due 2036 119 118 118 Series 2010-1 Notes, 5.381%, due 2040 99 99 98 Series 2010-2 Notes, 4.872%, due 2040 119 118 117 Series 2011-1 Notes, 4.462%, due 2041 218 217 215 Series 2012-1 Notes, 3.990%, due 2042 415 410 407 Series 2013-3 Notes, 4.922%, due 2043 277 276 274 Series 2014-3 Notes, 4.054%, due 2044 233 232 230 Series 2015-1 Notes, 4.090%, due 2045 277 275 273 Series 2016-2 Notes, 3.717%, due 2046 356 354 351 Series 2013-1 Notes, 4.446%, due 2053 198 197 196 Series 2014-2 Notes, 4.274%, due 2064 103 103 102 Total AltaLink, L.P. 3,760 3,742 3,713 Other: Construction Loan, 5.620%, due 2024 6 6 7 Total BHE Transmission $ 3,924 $ 3,906 $ 3,877 (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 2021 2020 Fixed-rate (1) : Bishop Hill Holdings Senior Notes, 5.125%, due 2032 $ 62 $ 62 $ 69 Solar Star Funding Senior Notes, 3.950%, due 2035 258 256 269 Solar Star Funding Senior Notes, 5.375%, due 2035 826 819 853 Grande Prairie Wind Senior Notes, 3.860%, due 2037 299 297 327 Topaz Solar Farms Senior Notes, 5.750%, due 2039 606 600 631 Topaz Solar Farms Senior Notes, 4.875%, due 2039 172 170 180 Alamo 6 Senior Notes, 4.170%, due 2042 199 197 205 Other 5 5 8 Variable-rate (1) : TX Jumbo Road Term Loan, due 2025 (2) 119 117 138 Marshall Wind Term Loan, due 2026 (2) 64 63 69 Flat Top Wind I Term Loan, due 2028 (2) 113 113 — Pinyon Pines I and II Term Loans, due 2034 (2) 350 344 367 Total BHE Renewables $ 3,073 $ 3,043 $ 3,116 (1) Amortizes quarterly or semiannually. (2) The term loans have variable interest rates based on LIBOR or Secured Overnight Financing Rate 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, 2021 and 2020 ranged from 3.21% to 3.88%. The variable interest rate on the Flat Top Wind I outstanding debt was 6.34% as of December 31, 2021. 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 2021 2020 Variable-rate: Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 (1) $ 148 $ 148 $ 186 (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 2021 2020 First mortgage bonds: 3.70%, due 2023 $ 250 $ 250 $ 249 3.50%, due 2024 500 501 501 3.10%, due 2027 375 373 373 3.65%, due 2029 850 860 862 4.80%, due 2043 350 346 346 4.40%, due 2044 400 395 395 4.25%, due 2046 450 446 445 3.95%, due 2047 475 470 470 3.65%, due 2048 700 689 689 4.25%, due 2049 900 874 873 3.15%, due 2050 600 592 592 2.70%, due 2052 500 492 — 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, 3.35% to 7.95%, due 2036 to 2041 38 22 4 Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%): 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 29 29 Due 2047 150 149 149 Total $ 7,808 $ 7,721 $ 7,210 |
Schedule of Maturities of Long-term Debt | The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2022 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total BHE senior notes $ — $ 900 $ — $ 1,650 $ — $ 10,551 $ 13,101 BHE junior subordinated debentures — — — — — 100 100 PacifiCorp 155 449 592 301 100 7,200 8,797 MidAmerican Funding — 316 537 15 2 7,177 8,047 NV Energy — 250 — — 400 3,051 3,701 Northern Powergrid 526 56 56 318 84 2,281 3,321 BHE Pipeline Group — 650 1,050 — 284 3,550 5,534 BHE Transmission 377 397 282 — 277 2,591 3,924 BHE Renewables 199 200 210 241 218 2,005 3,073 HomeServices 8 7 9 15 109 — 148 Totals $ 1,265 $ 3,225 $ 2,736 $ 2,540 $ 1,474 $ 38,506 $ 49,746 |
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): 2021 2020 Average Average Principal Carrying Interest Carrying Interest Amount Value Rate Value Rate First mortgage bonds: 2.95% to 8.53%, due through 2026 $ 1,379 $ 1,378 4.52 % $ 2,245 4.12 % 2.70% to 7.70%, due 2027 to 2031 1,100 1,094 4.35 1,094 4.35 5.25% to 6.10%, due 2032 to 2036 850 845 5.75 845 5.75 5.75% to 6.35%, due 2037 to 2041 2,150 2,137 6.05 2,137 6.05 4.10% due 2042 300 297 4.10 297 4.10 2.90% to 4.15%, due 2049 to 2052 2,800 2,761 3.52 1,776 3.86 Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%): Due 2025 25 25 0.12 25 0.14 Due 2024 to 2025 (1) 193 193 0.13 193 0.15 Total long-term debt $ 8,797 $ 8,730 $ 8,612 Reflected as: 2021 2020 Current portion of long-term debt $ 155 $ 420 Long-term debt 8,575 8,192 Total long-term debt $ 8,730 $ 8,612 (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, 2021, the annual principal maturities of long-term debt for 2022 and thereafter are as follows (in millions): Long-term Debt 2022 $ 155 2023 449 2024 591 2025 302 2026 100 Thereafter 7,200 Total 8,797 Unamortized discount and debt issuance costs (67) Total $ 8,730 |
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, 2022, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions): 2022 $ — 2023 316 2024 537 2025 15 2026 2 2027 and thereafter 6,938 |
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 2021 2020 General and refunding mortgage securities: 3.700% Series CC, due 2029 $ 500 $ 497 $ 496 2.400% Series DD, due 2030 425 422 422 6.650% Series N, due 2036 367 359 359 6.750% Series R, due 2037 349 346 346 5.375% Series X, due 2040 250 248 248 5.450% Series Y, due 2041 250 239 237 3.125% Series EE, due 2050 300 297 297 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 Total long-term debt $ 2,534 $ 2,499 $ 2,496 Reflected as: Total long-term debt $ 2,499 $ 2,496 |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2027 and thereafter $ 2,534 Unamortized premium, discount and debt issuance cost (35) Total $ 2,499 |
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 2021 2020 General and refunding mortgage securities: 3.375% Series T, due 2023 $ 250 $ 249 $ 249 2.600% Series U, due 2026 400 397 396 6.750% Series P, due 2037 252 253 255 Tax-exempt refunding revenue bond obligations: Fixed-rate series: 1.850% Pollution Control Series 2016B, due 2029 (1) 30 30 29 3.000% Gas and Water Series 2016B, due 2036 (2) 60 60 61 0.625% Water Facilities Series 2016C, due 2036 (1) 30 30 30 2.050% Water Facilities Series 2016D, due 2036 (1) 25 25 25 2.050% Water Facilities Series 2016E, due 2036 (1) 25 25 25 2.050% Water Facilities Series 2016F, due 2036 (1) 75 75 74 1.850% Water Facilities Series 2016G, due 2036 (1) 20 20 20 Total long-term debt $ 1,167 $ 1,164 $ 1,164 Reflected as - Long-term debt $ 1,164 $ 1,164 (1) Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted. (2) Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted. |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2023 $ 250 2026 400 2027 and thereafter 517 Total 1,167 Unamortized premium, discount and debt issuance cost (3) Total $ 1,164 |
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 2021 2020 Eastern Energy Gas: Variable-rate Senior Notes, due 2021 (1) $ — $ — $ 500 2.875% Senior Notes, due 2023 250 250 249 3.55% Senior Notes, due 2023 400 399 399 2.50% Senior Notes, due 2024 600 597 596 3.60% Senior Notes, due 2024 339 338 448 3.32% Senior Notes, due 2026 (€250) (2) 284 283 304 3.00% Senior Notes, due 2029 174 173 594 3.80% Senior Notes, due 2031 150 150 150 4.80% Senior Notes, due 2043 54 53 395 4.60% Senior Notes, due 2044 56 56 493 3.90% Senior Notes, due 2049 27 26 297 EGTS: 3.60% Senior Notes, due 2024 111 110 — 3.00% Senior Notes, due 2029 426 422 — 4.80% Senior Notes, due 2043 346 341 — 4.60% Senior Notes, due 2044 444 437 — 3.90% Senior Notes, due 2049 273 271 — Total long-term debt $ 3,934 $ 3,906 $ 4,425 Reflected as: Current portion of long-term debt $ — $ 500 Long-term debt 3,906 3,925 Total long-term debt $ 3,906 $ 4,425 (1) The senior notes had variable interest rates based on LIBOR plus an applicable spread. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% (including a 0.60% margin). (2) 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, 2021 and 2020 that averaged 3.32%. |
Schedule of Maturities of Long-term Debt | The annual repayments of long-term debt for the years beginning January 1, 2022 and thereafter, are as follows (in millions): 2022 $ — 2023 650 2024 1,050 2025 — 2026 284 2027 and thereafter 1,950 Total 3,934 Unamortized premium, discount and debt issuance cost (28) Total $ 3,906 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 2019 Current: Federal $ (1,701) $ (1,537) $ (956) State (177) (121) (13) Foreign 100 86 81 (1,778) (1,572) (888) Deferred: Federal 1,037 1,438 431 State (476) 424 (127) Foreign 89 21 (8) 650 1,883 296 Investment tax credits (4) (3) (6) Total $ (1,132) $ 308 $ (598) |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (27) (16) (32) Effects of ratemaking (4) (3) (6) State income tax, net of federal income tax benefit (10) 3 (5) Non-controlling interest (2) — — Income tax effect of foreign income 1 — (2) Other, net — (1) (1) Effective income tax rate (21) % 4 % (25) % |
Components of Net Deferred Income Tax Liability | The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 1,349 $ 1,420 Federal, state and foreign carryforwards 820 677 AROs 304 304 Other 686 777 Total deferred income tax assets 3,159 3,178 Valuation allowances (164) (204) Total deferred income tax assets, net 2,995 2,974 Deferred income tax liabilities: Property-related items (11,814) (10,816) Investments (2,877) (2,821) Regulatory assets (764) (785) Other (478) (327) Total deferred income tax liabilities (15,933) (14,749) Net deferred income tax liability $ (12,938) $ (11,775) |
Summary of Operating Loss Carryforwards | The following table provides the Company's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2021 (in millions): Federal State Foreign Total Net operating loss carryforwards (1) $ 297 $ 9,013 $ 900 $ 10,210 Deferred income taxes on net operating loss carryforwards 63 506 207 776 Expiration dates 2022 - indefinite 2022 - indefinite 2028 - 2041 Tax credits $ 15 $ 29 $ — $ 44 Expiration dates 2023 - 2034 2022 - indefinite (1) The federal net operating loss carryforwards relate principally to net operating loss carryforwards of subsidiaries that are tax residents in both the United States and the United Kingdom. The federal net operating loss carryforwards were generated prior to Berkshire Hathaway Inc.'s ownership and will begin 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): 2021 2020 Beginning balance $ 153 $ 145 Additions based on tax positions related to the current year 24 19 Additions for tax positions of prior years 13 6 Reductions based on tax positions related to the current year (19) (14) Reductions for tax positions of prior years (83) (1) Statute of limitations — (4) Settlements (1) 1 Interest and penalties 10 1 Ending balance $ 97 $ 153 |
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): 2021 2020 2019 Current: Federal $ (150) $ 19 $ 158 State 7 30 34 Total (143) 49 192 Deferred: Federal 26 (124) (132) State 40 1 4 Total 66 (123) (128) Investment tax credits (2) (1) (3) Total income tax (benefit) expense $ (79) $ (75) $ 61 |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % State income taxes, net of federal income tax benefit 3 3 3 Effects of ratemaking (14) (22) (13) Federal income tax credits (20) (13) (3) Other — — (1) Effective income tax rate (10) % (11) % 7 % |
Components of Net Deferred Income Tax Liability | The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 682 $ 700 Employee benefits 68 93 State carryforwards 73 73 Loss contingencies 63 63 Asset retirement obligations 73 65 Other 73 83 1,032 1,077 Deferred income tax liabilities: Property, plant and equipment (3,468) (3,311) Regulatory assets (332) (343) Other (79) (50) (3,879) (3,704) Net deferred income tax liability $ (2,847) $ (2,627) |
Summary of Operating Loss Carryforwards | The following table provides PacifiCorp's net operating loss and tax credit carryforwards and expiration dates as of December 31, 2021 (in millions): State Net operating loss carryforwards $ 1,138 Deferred income taxes on net operating loss carryforwards $ 53 Expiration dates 2023 - 2032 Tax credit carryforwards $ 20 Expiration dates 2022 - 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): 2021 2020 2019 Current: Federal $ (736) $ (684) $ (478) State (92) (94) (47) (828) (778) (525) Deferred: Federal 189 201 166 State (35) 8 (11) 154 209 155 Investment tax credits (1) (1) (1) Total $ (675) $ (570) $ (371) |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (262) (199) (90) State income tax, net of federal income tax benefit (46) (27) (11) Effects of ratemaking (20) (17) (8) Other, net (1) (1) — Effective income tax rate (308) % (223) % (88) % |
Components of Net Deferred Income Tax Liability | MidAmerican Energy's net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 240 $ 288 Asset retirement obligations 220 229 State carryforwards 55 52 Employee benefits 26 42 Other 30 40 Total deferred income tax assets 571 651 Valuation allowances (1) (25) Total deferred income tax assets, net 570 626 Deferred income tax liabilities: Depreciable property (3,843) (3,583) Regulatory assets (112) (97) Other (4) — Total deferred income tax liabilities (3,959) (3,680) Net deferred income tax liability $ (3,389) $ (3,054) |
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): 2021 2020 Beginning balance $ 8 $ 8 Additions based on tax positions related to the current year 16 4 Reductions based on tax positions related to the current year (11) (3) Reductions for tax positions of prior years — (1) Ending balance $ 13 $ 8 |
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): 2021 2020 2019 Current: Federal $ (739) $ (689) $ (480) State (94) (96) (49) (833) (785) (529) Deferred: Federal 189 204 164 State (35) 8 (11) 154 212 153 Investment tax credits (1) (1) (1) Total $ (680) $ (574) $ (377) |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Income tax credits (283) (209) (94) State income tax, net of federal income tax benefit (50) (29) (12) Effects of ratemaking (21) (17) (8) Other, net (2) (1) — Effective income tax rate (335) % (235) % (93) % |
Components of Net Deferred Income Tax Liability | MidAmerican Funding's net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 240 $ 288 Asset retirement obligations 220 229 State carryforwards 55 52 Employee benefits 26 43 Other 30 40 Total deferred income tax assets 571 652 Valuation allowances (1) (25) Total deferred income tax assets, net 570 627 Deferred income tax liabilities: Depreciable property (3,843) (3,583) Regulatory assets (112) (97) Other (2) 1 Total deferred income tax liabilities (3,957) (3,679) Net deferred income tax liability $ (3,387) $ (3,052) |
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): 2021 2020 Beginning balance $ 8 $ 8 Additions based on tax positions related to the current year 16 4 Reductions based on tax positions related to the current year (11) (3) Reductions for tax positions of prior years — (1) Ending balance $ 13 $ 8 |
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): 2021 2020 2019 Current – Federal $ 37 $ 57 $ 105 Deferred – Federal — (10) (31) Investment tax credits — — (1) Total income tax expense $ 37 $ 47 $ 73 |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (11) (8) — Other 1 1 1 Effective income tax rate 11 % 14 % 22 % |
Components of Net Deferred Income Tax Liability | The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 195 $ 206 Operating and finance leases 73 79 Customer advances 25 19 Unamortized contract value 25 8 Other 8 15 Total deferred income tax assets 326 327 Deferred income tax liabilities: Property related items (800) (800) Regulatory assets (204) (176) Operating and finance leases (70) (76) Other (34) (13) Total deferred income tax liabilities (1,108) (1,065) Net deferred income tax liability $ (782) $ (738) |
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): 2021 2020 2019 Current – Federal $ 5 $ 3 $ 19 Deferred – Federal 13 12 10 Investment tax credits — — (1) Total income tax expense $ 18 $ 15 $ 28 |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % Effects of ratemaking (8) (9) — Effective income tax rate 13 % 12 % 21 % |
Components of Net Deferred Income Tax Liability | The net deferred income tax liability consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Regulatory liabilities $ 64 $ 67 Operating and finance leases 27 30 Customer advances 14 10 Unamortized contract value 8 2 Other 6 8 Total deferred income tax assets 119 117 Deferred income tax liabilities: Property related items (379) (380) Regulatory assets (94) (74) Operating and finance leases (27) (30) Other (21) (7) Total deferred income tax liabilities (521) (491) Net deferred income tax liability $ (402) $ (374) |
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): 2021 2020 2019 Current: Federal $ (47) $ (20) $ 130 State (21) 1 17 (68) (19) 147 Deferred: Federal 129 23 (36) State 56 (28) (10) 185 (5) (46) Total $ 117 $ (24) $ 101 |
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: 2021 2020 2019 Federal statutory income tax rate 21 % 21 % 21 % State income tax, net of federal income tax benefit 3 (13) 1 Equity interest 1 4 1 Effects of ratemaking 1 (2) (1) Change in tax status — (9) (4) AFUDC-equity — (1) (1) Noncontrolling interest (11) (16) (3) Write-off of regulatory assets — 3 — Other, net 1 1 (1) Effective income tax rate 16 % (12) % 13 % |
Components of Net Deferred Income Tax Liability | The net deferred income tax (liability) asset consists of the following as of December 31 (in millions): 2021 2020 Deferred income tax assets: Federal and state carryforwards $ 7 $ — Employee benefits 33 30 Intangibles 150 148 Derivatives and hedges 16 18 Other 9 4 Total deferred income tax assets 215 200 Deferred income tax liabilities: Property related items (129) (52) Partnership investments (49) (19) Debt exchange (60) — Deferred state income taxes (16) — Debt issuance discount (7) (8) Other (9) (2) Total deferred income tax liabilities (270) (81) Net deferred income tax (liability) asset (1) $ (55) $ 119 (1) Net deferred income tax liability as of December 31, 2021 is presented in other assets and other long-term liabilities in the Consolidated Balance Sheet. Net deferred income tax asset as of December 31, 2020 is presented in other assets in the Consolidated Balance Sheet. |
Net Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of Eastern Energy Gas' net unrecognized tax benefits is as follows for the years ended December 31 (in millions): 2021 2020 Beginning balance $ — $ 2 Additions for tax positions of prior years — 5 Reductions for unrecognized tax benefits retained by DEI — (7) Ending balance $ — $ — |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 2021 2020 2019 2021 2020 2019 Service cost $ 30 $ 17 $ 16 $ 12 $ 7 $ 8 Interest cost 78 93 111 19 21 27 Expected return on plan assets (134) (140) (154) (22) (34) (40) Settlement 3 — — — — — Net amortization 25 32 31 (3) (4) (6) Net periodic benefit cost (credit) $ 2 $ 2 $ 4 $ 6 $ (10) $ (11) Net periodic benefit cost for the UK Plan included the following components for the years ended December 31 (in millions): 2021 2020 2019 Service cost $ 16 $ 16 $ 16 Interest cost 31 40 49 Expected return on plan assets (111) (101) (100) Settlement 10 17 26 Net amortization 55 43 46 Net periodic benefit cost $ 1 $ 15 $ 37 |
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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 2,824 $ 2,656 $ 744 $ 742 Employer contributions 13 13 14 3 Participant contributions — — 9 8 Actual return on plan assets 234 373 53 40 Settlement (134) — — — Benefits paid (142) (218) (51) (49) Plan assets at fair value, end of year $ 2,795 $ 2,824 $ 769 $ 744 The following table is a reconciliation of the fair value of plan assets for the years ended December 31 (in millions): 2021 2020 Plan assets at fair value, beginning of year $ 2,334 $ 2,151 Employer contributions 28 56 Participant contributions 1 1 Actual return on plan assets 148 181 Settlement (51) (63) Benefits paid (72) (67) Foreign currency exchange rate changes (25) 75 Plan assets at fair value, end of year $ 2,363 $ 2,334 |
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 2021 2020 2021 2020 Benefit obligation, beginning of year $ 3,077 $ 2,878 $ 758 $ 673 Service cost 30 17 12 7 Interest cost 78 93 19 21 Participant contributions — — 9 8 Actuarial (gain) loss (132) 226 (35) 61 Amendment — — 2 — Settlement (134) — — — Acquisition — 81 — 37 Benefits paid (142) (218) (51) (49) Benefit obligation, end of year $ 2,777 $ 3,077 $ 714 $ 758 Accumulated benefit obligation, end of year $ 2,713 $ 2,999 The following table is a reconciliation of the benefit obligation for the years ended December 31 (in millions): 2021 2020 Benefit obligation, beginning of year $ 2,205 $ 2,019 Service cost 16 16 Interest cost 31 40 Participant contributions 1 1 Actuarial (gain) loss (105) 188 Settlement (51) (63) Benefits paid (72) (67) Foreign currency exchange rate changes (22) 71 Benefit obligation, end of year $ 2,003 $ 2,205 Accumulated benefit obligation, end of year $ 1,778 $ 1,963 |
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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 2,795 $ 2,824 $ 769 $ 744 Benefit obligation, end of year 2,777 3,077 714 758 Funded status $ 18 $ (253) $ 55 $ (14) Amounts recognized on the Consolidated Balance Sheets: Other assets $ 204 $ 43 $ 60 $ 20 Other current liabilities (13) (13) — — Other long-term liabilities (173) (283) (5) (34) Amounts recognized $ 18 $ (253) $ 55 $ (14) |
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 2021 2020 2021 2020 Fair value of plan assets $ — $ 1,782 $ 137 $ 417 Projected benefit obligation $ 186 $ 2,069 $ 142 $ 451 Fair value of plan assets $ — $ 1,064 Accumulated benefit obligation $ 185 $ 1,341 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): 2021 2020 Plan assets at fair value, end of year $ 2,363 $ 2,334 Benefit obligation, end of year 2,003 2,205 Funded status $ 360 $ 129 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 360 $ 129 |
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 2021 2020 2021 2020 Net loss (gain) $ 343 $ 612 $ (34) $ 34 Prior service credit (1) (1) (1) (9) Regulatory deferrals 11 2 2 3 Total $ 353 $ 613 $ (33) $ 28 A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2021 and 2020 is as follows (in millions): Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Pension Balance, December 31, 2019 $ 661 $ (33) $ 24 $ 652 Net (gain) loss arising during the year (30) 13 10 (7) Net amortization (31) — (1) (32) Total (61) 13 9 (39) 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 Accumulated Other Regulatory Regulatory Comprehensive Asset Liability Loss Total Other Postretirement Balance, December 31, 2019 $ 4 $ (32) $ (3) $ (31) Net loss arising during the year 36 12 7 55 Net amortization 7 (3) — 4 Total 43 9 7 59 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) 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): 2021 2020 Net loss $ 400 $ 612 Prior service cost 5 6 Total $ 405 $ 618 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): 2021 2020 Balance, beginning of year $ 618 $ 549 Net loss arising during the year (143) 108 Settlement (10) (17) Net amortization (55) (43) Foreign currency exchange rate changes (5) 21 Total (213) 69 Balance, end of year $ 405 $ 618 |
Plan Assumptions | Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 2.98 % 2.60 % 3.32 % 2.95 % 2.59 % 3.24 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2019 N/A N/A 3.22 % N/A N/A N/A 2020 N/A 2.44 % 2.94 % N/A N/A N/A 2021 2.45 % 2.25 % 2.94 % N/A N/A N/A 2022 2.56 % 2.25 % 3.02 % N/A N/A N/A 2023 2.56 % 2.65 % 3.02 % N/A N/A N/A 2024 and beyond 2.83 % 2.65 % 3.02 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.60 % 3.32 % 4.25 % 2.59 % 3.24 % 4.21 % Expected return on plan assets 5.39 % 5.94 % 6.48 % 3.35 % 5.42 % 6.39 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rate for cash balance plan 2.45 % 2.44 % 3.22 % 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. 2021 2020 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 6.00 % 6.30 % 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 2025 2025 Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: 2021 2020 2019 Benefit obligations as of December 31: Discount rate 1.95 % 1.40 % 2.10 % Rate of compensation increase 3.45 % 3.05 % 3.30 % Rate of future price inflation 2.95 % 2.55 % 2.80 % Net periodic benefit cost for the years ended December 31: Discount rate 1.40 % 2.10 % 2.90 % Expected return on plan assets 4.85 % 5.00 % 5.10 % Rate of compensation increase 3.05 % 3.30 % 3.55 % Rate of future price inflation 2.55 % 2.80 % 3.05 % |
Expected Benefit Payments | The expected benefit payments to participants in the Company's pension and other postretirement benefit plans for 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Other Pension Postretirement 2022 $ 210 $ 54 2023 203 54 2024 195 54 2025 193 53 2026 193 51 2027-2031 837 229 Employer contributions to the UK Plan are expected to be £12 million during 2022. The expected benefit payments to participants in the UK Plan for 2022 through 2026 and for the five years thereafter, excluding lump sum settlement elections and using the foreign currency exchange rate as of December 31, 2021, are summarized below (in millions): 2022 $ 73 2023 75 2024 77 2025 79 2026 81 2027-2031 436 |
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, 2021: Other Pension Postretirement % % PacifiCorp: Debt securities (1) 55-85 70-80 Equity securities (1) 25-35 20-30 Limited partnership interests 0-10 0-1 MidAmerican Energy: Debt securities (1) 60-80 25-35 Equity securities (1) 20-40 65-75 Other 0-15 0-5 NV Energy: Debt securities (1) 85-100 67-88 Equity securities (1) 0-15 12-33 (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, 2021: % 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, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: United States government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 79 $ 79 Debt securities: United States government obligations 52 — 52 Corporate obligations — 748 748 Municipal obligations — 69 69 Equity securities: United States companies 224 — 224 Total assets in the fair value hierarchy $ 276 $ 896 1,172 Investment funds (2) measured at net asset value 1,521 Limited partnership interests (3) measured at net asset value 88 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 2,824 (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 54% and 46%, respectively, for 2021 and 69% and 31%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 89% and 11%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: United States government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ 20 $ 2 $ 22 Debt securities: United States government obligations 15 — 15 Corporate obligations — 102 102 Municipal obligations — 82 82 Agency, asset and mortgage-backed obligations — 47 47 Equity securities: United States companies 6 — 6 Investment funds (2) 299 — 299 Total assets in the fair value hierarchy $ 340 $ 233 573 Investment funds (2) measured at net asset value 167 Limited partnership interests (3) measured at net asset value 4 Total assets measured at fair value $ 744 (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 2021 and 40% and 60%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 88% and 12%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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, 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 As of December 31, 2020: Cash equivalents $ 5 $ 49 $ — $ 54 Debt securities: United Kingdom government obligations 1,102 — — 1,102 Equity securities: Investment funds (2) — 833 — 833 Real estate funds — — 237 237 Total $ 1,107 $ 882 $ 237 2,226 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,334 (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 23% and 77%, respectively, for 2021 and 40% and 60%, respectively, for 2020. 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, 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: United States 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: United States 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) As of December 31, 2020: Assets: Commodity derivatives $ 1 $ 73 $ 135 $ (21) $ 188 Foreign currency exchange rate derivatives — 20 — — 20 Interest rate derivatives — — 62 — 62 Mortgage loans held for sale — 2,001 — — 2,001 Money market mutual funds 873 — — — 873 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 5,906 — — — 5,906 Investment funds 201 — — — 201 $ 7,562 $ 2,180 $ 197 $ (21) $ 9,918 Liabilities: Commodity derivatives $ (1) $ (90) $ (19) $ 56 $ (54) Foreign currency exchange rate derivatives — (2) — — (2) Interest rate derivatives (5) (60) — — (65) $ (6) $ (152) $ (19) $ 56 $ (121) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $26 million and $35 million as of December 31, 2021 and 2020, 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 2021 2020 2019 Beginning balance $ 237 $ 243 $ 239 Actual return on plan assets still held at period end 35 (13) (5) Foreign currency exchange rate changes (3) 7 9 Ending balance $ 269 $ 237 $ 243 |
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 2021 2020 2019 2021 2020 2019 Service cost $ — $ — $ — $ 2 $ 2 $ 2 Interest cost 29 36 44 7 9 12 Expected return on plan assets (51) (56) (67) (9) (14) (21) Settlement 6 — — — — — Net amortization 21 18 11 1 3 — Net periodic benefit cost (credit) $ 5 $ (2) $ (12) $ 1 $ — $ (7) |
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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 1,064 $ 1,036 $ 327 $ 334 Employer contributions (1) 5 5 1 — Participant contributions — — 6 4 Actual return on plan assets 109 124 14 15 Settlement (2) (52) — — — Benefits paid (68) (101) (24) (26) Plan assets at fair value, end of year $ 1,058 $ 1,064 $ 324 $ 327 (1) 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 2021 2020 2021 2020 Benefit obligation, beginning of year $ 1,202 $ 1,167 $ 307 $ 304 Service cost — — 2 2 Interest cost 29 36 7 9 Participant contributions — — 6 4 Actuarial (gain) loss (63) 100 (10) 14 Settlement (1) (52) — — — Benefits paid (68) (101) (24) (26) Benefit obligation, end of year $ 1,048 $ 1,202 $ 288 $ 307 Accumulated benefit obligation, end of year $ 1,048 $ 1,202 (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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 1,058 $ 1,064 $ 324 $ 327 Less - Benefit obligation, end of year 1,048 1,202 288 307 Funded status $ 10 $ (138) $ 36 $ 20 Amounts recognized on the Consolidated Balance Sheets: Other assets $ 63 $ 8 $ 36 $ 20 Accrued employee expenses (4) (4) — — Other long-term liabilities (49) (142) — — Amounts recognized $ 10 $ (138) $ 36 $ 20 |
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 2021 2020 2021 2020 Net loss (gain) $ 298 $ 455 $ (28) $ (13) Regulatory deferrals (1) 11 2 2 3 Total $ 309 $ 457 $ (26) $ (10) (1) Includes $9 million of deferrals associated with 2021 pension settlement losses. A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2021 and 2020 is as follows (in millions): Accumulated Other Regulatory Comprehensive Asset Loss Total Pension Balance, December 31, 2019 $ 422 $ 21 $ 443 Net loss arising during the year 27 5 32 Net amortization (17) (1) (18) Total 10 4 14 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 Regulatory Liability Other Postretirement Balance, December 31, 2019 $ (20) Net loss arising during the year 13 Net amortization (3) Total 10 Balance, December 31, 2020 (10) Net gain arising during the year (15) Net amortization (1) Total (16) Balance, December 31, 2021 $ (26) |
Plan Assumptions | Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 2.90 % 2.50 % 3.25 % 2.90 % 2.50 % 3.20 % 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 2019 N/A N/A 3.40 % N/A N/A N/A 2020 N/A 2.27 % 2.27 % N/A N/A N/A 2021 0.82 % 0.82 % 2.27 % N/A N/A N/A 2022 0.88 % 0.82 % 2.10 % N/A N/A N/A 2023 0.88 % 2.00 % 2.10 % N/A N/A N/A 2024 and beyond 1.90 % 2.00 % 2.10 % N/A N/A N/A Interest crediting rates for cash balance plan - union 2019 N/A N/A 3.15 % N/A N/A N/A 2020 N/A 2.16 % 2.16 % N/A N/A N/A 2021 1.42 % 1.42 % 2.16 % N/A N/A N/A 2022 1.94 % 1.42 % 2.70 % N/A N/A N/A 2023 1.94 % 2.40 % 2.70 % N/A N/A N/A 2024 and beyond 2.30 % 2.40 % 2.70 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.50 % 3.25 % 4.25 % 2.50 % 3.20 % 4.25 % Expected return on plan assets 6.00 6.50 7.00 2.90 4.92 6.86 |
Expected Benefit Payments | The expected benefit payments to participants in PacifiCorp's pension and other postretirement benefit plans for 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2022 $ 96 $ 24 2023 85 23 2024 79 22 2025 76 21 2026 71 20 2027-2031 304 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, 2021: Pension (1) Other Postretirement (1) % % Debt securities (2) 55 - 85 70 - 80 Equity securities (2) 25- 35 20 - 30 Other 0 - 10 0 - 1 (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, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: United States government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 32 $ — $ 32 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 231 — 231 Municipal obligations — 21 — 21 Equity securities: United States companies 91 — — 91 Total assets in the fair value hierarchy $ 105 $ 284 $ — $ 389 Investment funds (2) measured at net asset value 587 Limited partnership interests (3) measured at net asset value 88 Investments at fair value $ 1,064 (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 59% and 41%, respectively, for 2021 and 78% and 22%, respectively, for 2020, and are invested in United States and international securities of approximately 84% and 16%, respectively, for 2021 and 74% and 26%, respectively, for 2020. (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, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: United States government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: United States 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 As of December 31, 2020: Cash and cash equivalents $ 8 $ 1 $ — $ 9 Debt securities: United States government obligations 11 — — 11 Corporate obligations — 86 — 86 Municipal obligations — 16 — 16 Agency, asset and mortgage-backed obligations — 44 — 44 Equity securities: United States companies 4 — — 4 Total assets in the fair value hierarchy $ 23 $ 147 $ — 170 Investment funds (2) measured at net asset value 153 Limited partnership interests (3) measured at net asset value 4 Investments at fair value $ 327 (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 39% and 61%, respectively, for 2021 and 38% and 62%, respectively, for 2020, and are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 93% and 7%, respectively, for 2020. (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, 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) As of December 31, 2020: Assets: Commodity derivatives $ — $ 36 $ — $ (3) $ 33 Money market mutual funds 6 — — — 6 Investment funds 25 — — — 25 $ 31 $ 36 $ — $ (3) $ 64 Liabilities - Commodity derivatives $ — $ (53) $ — $ 27 $ (26) |
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 plan funded status percentage for plan years beginning July 1, Contributions (1) Plan name Employer Identification Number 2021 2020 2019 Funding improvement plan Surcharge imposed under PPA of 2006 (1) 2021 2020 2019 Year contributions to plan exceeded more than 5% of total contributions (2) Local 57 Trust Fund 87-0640888 At least 80% At least 80% At least 80% None None $ 6 $ 6 $ 7 2019, 2018, 2017 (1) PacifiCorp's minimum contributions to the plan 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. (2) For the Local 57 Trust Fund, information is for plan years beginning July 1, 2019, 2018 and 2017. Information for the plan year beginning July 1, 2020 is not yet available. |
MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Net periodic benefit cost 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 2021 2020 2019 2021 2020 2019 Service cost $ 20 $ 8 $ 6 $ 9 $ 4 $ 5 Interest cost 22 25 30 8 7 10 Expected return on plan assets (37) (40) (41) (10) (14) (13) Settlement (5) — — — — — Net amortization 1 1 1 (4) (5) (3) Net periodic benefit cost (credit) $ 1 $ (6) $ (4) $ 3 $ (8) $ (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 2021 2020 2021 2020 Plan assets at fair value, beginning of year $ 718 $ 717 $ 278 $ 272 Employer contributions 8 6 10 3 Participant contributions — — 1 1 Actual return on plan assets 58 55 34 15 Settlement (46) — — — Benefits paid (34) (60) (15) (13) Plan assets at fair value, end of year $ 704 $ 718 $ 308 $ 278 |
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 2021 2020 2021 2020 Benefit obligation, beginning of year $ 845 $ 763 $ 304 $ 226 Service cost 20 8 9 4 Interest cost 22 25 8 7 Participant contributions — — 1 1 Actuarial (gain) loss (25) 28 (18) 42 Plan amendments — — 1 — Settlement (46) — — — Acquisition (1) 81 (5) 37 Benefits paid (34) (60) (15) (13) Benefit obligation, end of year $ 781 $ 845 $ 285 $ 304 Accumulated benefit obligation, end of year $ 721 $ 773 |
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 2021 2020 2021 2020 Plan assets at fair value, end of year $ 704 $ 718 $ 308 $ 278 Less - Benefit obligation, end of year 781 845 285 304 Funded status $ (77) $ (127) $ 23 $ (26) Amounts recognized on the Balance Sheets: Other assets $ 34 $ — $ 23 $ — Other current liabilities (7) (7) — — Other liabilities (104) (120) — (26) Amounts recognized $ (77) $ (127) $ 23 $ (26) |
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 2021 2020 2021 2020 Net (gain) loss $ (25) $ 18 $ 2 $ 45 Prior service (credit) cost — — (3) (9) Total $ (25) $ 18 $ (1) $ 36 A reconciliation of the amounts not yet recognized as components of net periodic benefit cost for the years ended December 31, 2021 and 2020 is as follows (in millions): Regulatory Asset Regulatory Liability Receivables (Payables) with Affiliates Total Pension Balance, December 31, 2019 $ 19 $ (32) $ 18 $ 5 Net (gain) loss arising during the year 3 12 (1) 14 Net amortization (1) — — (1) Total 2 12 (1) 13 Balance, December 31, 2020 21 (20) 17 18 Net loss (gain) arising during the year 2 (40) (9) (47) Net amortization (1) — — (1) Settlement — 5 — 5 Total 1 (35) (9) (43) Balance, December 31, 2021 $ 22 $ (55) $ 8 $ (25) Regulatory Receivables (Payables) with Affiliates Total Other Postretirement Balance, December 31, 2019 $ 7 $ (17) $ (10) Net gain arising during the year 34 7 41 Net amortization 4 1 5 Total 38 8 46 Balance, December 31, 2020 45 (9) 36 Net loss arising during the year (29) (13) (42) Net prior service cost arising during the year 1 — 1 Net amortization 3 1 4 Total (25) (12) (37) Balance, December 31, 2021 $ 20 $ (21) $ (1) |
Plan Assumptions | Assumptions used to determine benefit obligations and net periodic benefit cost were as follows: Pension Other Postretirement 2021 2020 2019 2021 2020 2019 Benefit obligations as of December 31: Discount rate 3.05 % 2.75 % 3.40 % 2.95 % 2.65 % 3.20 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 2019 N/A N/A 3.40 % N/A N/A N/A 2020 N/A 2.27 % 2.27 % N/A N/A N/A 2021 1.19 % 0.99 % 2.27 % N/A N/A N/A 2022 1.19 % 0.99 % 2.27 % N/A N/A N/A 2023 1.19 % 0.99 % 2.27 % N/A N/A N/A 2024 and beyond 1.19 % 0.99 % 2.27 % N/A N/A N/A Net periodic benefit cost for the years ended December 31: Discount rate 2.75 % 3.40 % 4.25 % 2.65 % 3.20 % 4.15 % Expected return on plan assets (1) 5.60 % 6.25 % 6.50 % 4.00 % 6.00 % 6.25 % Rate of compensation increase 2.75 % 2.75 % 2.75 % N/A N/A N/A Interest crediting rates for cash balance plan 1.19 % 2.27 % 3.40 % 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 2.39% for 2021, 4.62% for 2020 and 4.62% for 2019. 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. 2021 2020 Assumed healthcare cost trend rates as of December 31: Healthcare cost trend rate assumed for next year 5.90 % 6.20 % 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 2025 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 2022 through 2026 and for the five years thereafter are summarized below (in millions): Projected Benefit Payments Pension Other Postretirement 2022 $ 56 $ 21 2023 55 22 2024 54 22 2025 52 22 2026 51 22 2027-2031 229 98 |
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, 2021: Pension Other Postretirement % % Debt securities (1) 60-80 25-35 Equity securities (1) 20-40 65-75 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, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: United States government obligations 33 — — 33 International government obligations — — — — Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: United States companies 35 — — 35 Total assets in the hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 As of December 31, 2020: Cash equivalents $ — $ 26 $ — $ 26 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 160 — 160 Municipal obligations — 17 — 17 Agency, asset and mortgage-backed obligations — — — — Equity securities: United States companies 65 — — 65 Total assets in the hierarchy $ 79 $ 203 $ — 282 Investment funds (2) measured at net asset value 393 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 718 (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 56% and 44%, respectively, for 2021 and 65% and 35%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 82% and 18%, respectively, for 2020. 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, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: United States 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 As of December 31, 2020: Cash equivalents $ 11 $ — $ — $ 11 Debt securities: United States government obligations 3 — — 3 Corporate obligations — 7 — 7 Municipal obligations — 65 — 65 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 189 — — 189 Total assets measured at fair value $ 203 $ 75 $ — $ 278 (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 2021 and 56% and 44%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 82% and 18%, respectively, for 2021 and 56% and 44%, respectively, for 2020. 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, 2021: Assets: Commodity derivatives $ — $ 32 $ 3 $ (7) $ 28 Money market mutual funds 228 — — — 228 Debt securities: United States 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: United States companies 428 — — — 428 International companies 10 — — — 10 Investment funds 18 — — — 18 $ 916 $ 129 $ 3 $ (7) $ 1,041 Liabilities - commodity derivatives $ — $ (6) $ (8) $ 12 $ (2) As of December 31, 2020 Assets: Commodity derivatives $ — $ 4 $ 5 $ (5) $ 4 Money market mutual funds 41 — — — 41 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 9 — — — 9 Investment funds 17 — — — 17 $ 648 $ 90 $ 5 $ (5) $ 738 Liabilities - commodity derivatives $ — $ (4) $ (3) $ 5 $ (2) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $5 million and $— million as of December 31, 2021 and 2020, 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): 2021 2020 2019 Pension costs $ 21 $ 7 $ 4 Other postretirement costs 2 (3) (2) |
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, 2021: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 4 $ 41 Liabilities - commodity derivatives $ — $ — $ (117) $ (117) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 26 $ 26 Money market mutual funds 21 — — 21 Investment funds 2 — — 2 $ 23 $ — $ 26 $ 49 Liabilities - commodity derivatives $ — $ — $ (11) $ (11) |
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): 2021 2020 Qualified Pension Plan - Other non-current assets $ 42 $ 8 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (8) (9) Other Postretirement Plans - Other non-current assets 8 4 |
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, 2021: Assets: Commodity derivatives $ — $ — $ 2 $ 2 Money market mutual funds 10 — — 10 Investment funds 1 — — 1 $ 11 $ — $ 2 $ 13 Liabilities - commodity derivatives $ — $ — $ (35) $ (35) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 9 $ 9 Money market mutual funds 17 — — 17 $ 17 $ — $ 9 $ 26 Liabilities - commodity derivatives $ — $ — $ (2) $ (2) |
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): 2021 2020 Qualified Pension Plan - Other non-current assets $ 62 $ 26 Non-Qualified Pension Plans: Other current liabilities (1) (1) Other long-term liabilities (7) (8) Other Postretirement Plans - Other long-term liabilities (10) (13) |
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 years ended December 31 (in millions): Pension Other Postretirement 2020 2019 2020 2019 Service cost $ 5 $ 6 $ 1 $ 1 Interest cost 8 11 4 5 Expected return on plan assets (47) (54) (16) (16) Settlement — 1 — 1 Net amortization 5 7 (3) (2) Net periodic benefit credit $ (29) $ (29) $ (14) $ (11) |
Plan Assumptions | Significant assumptions used to determine periodic credits for the years ended December 31: Pension Other Postretirement 2020 2019 2020 2019 Discount rate 3.16% - 3.63% 4.10% - 4.42% 3.44 % 4.05% - 4.37% Expected long-term rate of return on plan assets 8.60 % 8.65 % 8.50 % 8.50 % Weighted average rate of increase for compensation 4.73 % 4.55 % N/A N/A Healthcare cost trend rate 6.50 % 6.50 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.00 % 5.00 % Year that the rate reached the ultimate trend rate 2026 2025 |
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, 2021 Assets: Foreign currency exchange rate derivatives $ — $ 3 $ — $ 3 Investment funds 13 — — 13 $ 13 $ 3 $ — $ 16 Liabilities: Foreign currency exchange rate derivatives $ — $ (3) $ — $ (3) $ — $ (3) $ — $ (3) As of December 31, 2020 Assets: Foreign currency exchange rate derivatives $ — $ 20 $ — $ 20 $ — $ 20 $ — $ 20 Liabilities: Commodity derivatives $ — $ (1) $ — $ (1) Foreign currency exchange rate derivatives — (2) — (2) Interest rate derivatives — (6) — (6) $ — $ (9) $ — $ (9) |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 Fossil fuel facilities $ 466 $ 529 Quad Cities Station 427 376 Wind generating facilities 299 273 Solar generating facilities 25 24 Offshore pipeline facilities 14 16 Other 109 123 Total asset retirement obligations $ 1,340 $ 1,341 Quad Cities Station nuclear decommissioning trust funds $ 768 $ 676 |
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): 2021 2020 Beginning balance $ 1,341 $ 1,272 Change in estimated costs 81 46 Acquisitions — 122 Additions 15 51 Retirements (144) (201) Accretion 47 51 Ending balance $ 1,340 $ 1,341 Reflected as: Other current liabilities $ 130 $ 184 Other long-term liabilities 1,210 1,157 Total ARO liability $ 1,340 $ 1,341 |
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): 2021 2020 Beginning balance $ 270 $ 257 Change in estimated costs 40 (11) Additions — 25 Retirements (15) (10) Accretion 9 9 Ending balance $ 304 $ 270 Reflected as: Other current liabilities $ 5 $ 13 Other long-term liabilities 299 257 $ 304 $ 270 |
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): 2021 2020 Quad Cities Station $ 427 $ 376 Fossil-fueled generating facilities 161 255 Wind-powered generating facilities 197 185 Other 2 2 Total asset retirement obligations $ 787 $ 818 Quad Cities Station nuclear decommissioning trust funds (1) $ 768 $ 676 (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): 2021 2020 Beginning balance $ 818 $ 839 Change in estimated costs 35 47 Additions 6 23 Retirements (103) (124) Accretion 31 33 Ending balance $ 787 $ 818 Reflected as: Other current liabilities $ 73 $ 109 Asset retirement obligations 714 709 $ 787 $ 818 |
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): 2021 2020 Waste water remediation $ 37 $ 36 Evaporative ponds and dry ash landfills 13 13 Solar 3 3 Other 15 20 Total asset retirement obligations $ 68 $ 72 |
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): 2021 2020 Beginning balance $ 72 $ 74 Change in estimated costs — 9 Retirements (6) (14) Accretion 2 3 Ending balance $ 68 $ 72 Reflected as: Other current liabilities $ 19 $ 25 Other long-term liabilities 49 47 $ 68 $ 72 |
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): 2021 2020 Asbestos $ 5 $ 5 Evaporative ponds and dry ash landfills 3 3 Other 3 3 Total asset retirement obligations $ 11 $ 11 |
Reconciliation of Asset Retirement Obligation | The following table reconciles the beginning and ending balances of Sierra Pacific's ARO liabilities for the years ended December 31 (in millions): 2021 2020 Beginning balance $ 11 $ 10 Accretion — 1 Ending balance $ 11 $ 11 Reflected as - Other long-term liabilities $ 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): 2021 2020 Beginning balance $ 71 $ 89 Change in estimated costs — (51) Additions — 48 Retirements (17) (3) Disposal of Questar Pipeline Group — (16) Accretion 1 4 Ending balance $ 55 $ 71 Reflected as: Current liabilities $ 33 $ 36 Other long-term liabilities 22 35 Total ARO liability $ 55 $ 71 |
Risk Management and Hedging A_2
Risk Management and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 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 As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 29 $ 6 $ 1 $ — $ 36 Commodity liabilities (2) — (23) (28) (53) Total 27 6 (22) (28) (17) Total derivatives 27 6 (22) (28) (17) Cash collateral receivable — — 15 9 24 Total derivatives - net basis $ 27 $ 6 $ (7) $ (19) $ 7 (1) PacifiCorp's commodity derivatives are generally included in rates. As of December 31, 2021 a regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. As of December 31, 2020 regulatory asset of $17 million was recorded related to the net derivative liability of $17 million. |
Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts | The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions): 2021 2020 2019 Beginning balance $ 17 $ 62 $ 96 Changes in fair value recognized in regulatory assets (171) (11) (37) Net (losses) gains reclassified to operating revenue (23) 3 (34) Net gains (losses) reclassified to energy costs 124 (37) 37 Ending balance $ (53) $ 17 $ 62 |
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 2021 2020 Electricity purchases (sales), net Megawatt hours 2 (1) Natural gas purchases Decatherms 106 100 |
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): Other Other Other Current Current Long-term Assets Liabilities Liabilities Total 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) As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 26 $ — $ — $ 26 Commodity liabilities — (3) (8) (11) Total derivative - net basis $ 26 $ (3) $ (8) $ 15 (1) Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $113 million was recorded related to the net derivative liability of $113 million. As of December 31, 2020 a regulatory liability of $15 million was recorded related to the net derivative asset of $15 million. |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Electricity purchases Megawatt hours 1 1 Natural gas purchases Decatherms 119 124 |
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, 2021: Not designated as hedging contracts (1) : Commodity assets $ 2 $ — $ — $ 2 Commodity liabilities — (16) (19) (35) Total derivative - net basis $ 2 $ (16) $ (19) $ (33) As of December 31, 2020: Not designated as hedging contracts (1) : Commodity assets $ 9 $ — $ — $ 9 Commodity liabilities — — (2) (2) Total derivative - net basis $ 9 $ — $ (2) $ 7 (1) Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $33 million was recorded related to the net derivative liability of $33 million. As of December 31, 2020 a regulatory liability of $7 million was recorded related to the net derivative asset of $7 million. |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Electricity purchases Megawatt hours 1 — Natural gas purchases Decatherms 53 54 |
EEGH | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions): Unit of Measure 2021 2020 Interest rate U.S. $ — 500 Foreign currency Euro € 250 250 Natural gas Dth 2 5 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021: Cash equivalents $ — $ 64 $ 64 Debt securities: United States government obligations 142 — 142 Corporate obligations — 912 912 Municipal obligations — 66 66 Agency, asset and mortgage-backed obligations — 93 93 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 79 $ 79 Debt securities: United States government obligations 52 — 52 Corporate obligations — 748 748 Municipal obligations — 69 69 Equity securities: United States companies 224 — 224 Total assets in the fair value hierarchy $ 276 $ 896 1,172 Investment funds (2) measured at net asset value 1,521 Limited partnership interests (3) measured at net asset value 88 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 2,824 (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 54% and 46%, respectively, for 2021 and 69% and 31%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 89% and 11%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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, 2021: Cash equivalents $ 12 $ 4 $ 16 Debt securities: United States government obligations 27 — 27 Corporate obligations — 85 85 Municipal obligations — 43 43 Agency, asset and mortgage-backed obligations — 38 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ 20 $ 2 $ 22 Debt securities: United States government obligations 15 — 15 Corporate obligations — 102 102 Municipal obligations — 82 82 Agency, asset and mortgage-backed obligations — 47 47 Equity securities: United States companies 6 — 6 Investment funds (2) 299 — 299 Total assets in the fair value hierarchy $ 340 $ 233 573 Investment funds (2) measured at net asset value 167 Limited partnership interests (3) measured at net asset value 4 Total assets measured at fair value $ 744 (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 2021 and 40% and 60%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 88% and 12%, respectively, for 2021 and 79% and 21%, respectively, for 2020. (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, 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 As of December 31, 2020: Cash equivalents $ 5 $ 49 $ — $ 54 Debt securities: United Kingdom government obligations 1,102 — — 1,102 Equity securities: Investment funds (2) — 833 — 833 Real estate funds — — 237 237 Total $ 1,107 $ 882 $ 237 2,226 Investment funds (2) measured at net asset value 108 Total assets measured at fair value $ 2,334 (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 23% and 77%, respectively, for 2021 and 40% and 60%, respectively, for 2020. 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, 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: United States 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: United States 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) As of December 31, 2020: Assets: Commodity derivatives $ 1 $ 73 $ 135 $ (21) $ 188 Foreign currency exchange rate derivatives — 20 — — 20 Interest rate derivatives — — 62 — 62 Mortgage loans held for sale — 2,001 — — 2,001 Money market mutual funds 873 — — — 873 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 5,906 — — — 5,906 Investment funds 201 — — — 201 $ 7,562 $ 2,180 $ 197 $ (21) $ 9,918 Liabilities: Commodity derivatives $ (1) $ (90) $ (19) $ 56 $ (54) Foreign currency exchange rate derivatives — (2) — — (2) Interest rate derivatives (5) (60) — — (65) $ (6) $ (152) $ (19) $ 56 $ (121) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $26 million and $35 million as of December 31, 2021 and 2020, 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): Commodity Derivatives Interest Rate Derivatives 2021 2020 2019 2021 2020 2019 Beginning balance $ 116 $ 97 $ 99 $ 62 $ 14 $ 10 Changes included in earnings (1) (43) (10) 10 (43) 48 4 Changes in fair value recognized in OCI (13) — (1) — — — Changes in fair value recognized in net regulatory assets (118) (17) (26) — — — Purchases (76) 5 6 — — — Settlements (34) 41 9 — — — Transfers to Level 2 17 — — — — — Ending balance $ (151) $ 116 $ 97 $ 19 $ 62 $ 14 (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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 49,762 $ 57,189 $ 49,866 $ 60,633 |
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, 2021: Cash equivalents $ — $ 15 $ — $ 15 Debt securities: United States government obligations 51 — — 51 Corporate obligations — 299 — 299 Municipal obligations — 22 — 22 Agency, asset and mortgage-backed obligations — 38 — 38 Equity securities: United States 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 As of December 31, 2020: Cash equivalents $ — $ 32 $ — $ 32 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 231 — 231 Municipal obligations — 21 — 21 Equity securities: United States companies 91 — — 91 Total assets in the fair value hierarchy $ 105 $ 284 $ — $ 389 Investment funds (2) measured at net asset value 587 Limited partnership interests (3) measured at net asset value 88 Investments at fair value $ 1,064 (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 59% and 41%, respectively, for 2021 and 78% and 22%, respectively, for 2020, and are invested in United States and international securities of approximately 84% and 16%, respectively, for 2021 and 74% and 26%, respectively, for 2020. (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, 2021: Cash and cash equivalents $ 4 $ 1 $ — $ 5 Debt securities: United States government obligations 24 — — 24 Corporate obligations — 79 — 79 Municipal obligations — 15 — 15 Agency, asset and mortgage-backed obligations — 35 — 35 Equity securities: United States 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 As of December 31, 2020: Cash and cash equivalents $ 8 $ 1 $ — $ 9 Debt securities: United States government obligations 11 — — 11 Corporate obligations — 86 — 86 Municipal obligations — 16 — 16 Agency, asset and mortgage-backed obligations — 44 — 44 Equity securities: United States companies 4 — — 4 Total assets in the fair value hierarchy $ 23 $ 147 $ — 170 Investment funds (2) measured at net asset value 153 Limited partnership interests (3) measured at net asset value 4 Investments at fair value $ 327 (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 39% and 61%, respectively, for 2021 and 38% and 62%, respectively, for 2020, and are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 93% and 7%, respectively, for 2020. (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, 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) As of December 31, 2020: Assets: Commodity derivatives $ — $ 36 $ — $ (3) $ 33 Money market mutual funds 6 — — — 6 Investment funds 25 — — — 25 $ 31 $ 36 $ — $ (3) $ 64 Liabilities - Commodity derivatives $ — $ (53) $ — $ 27 $ (26) |
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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 8,730 $ 10,374 $ 8,612 $ 10,995 |
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, 2021: Cash equivalents $ — $ 27 $ — $ 27 Debt securities: United States government obligations 33 — — 33 International government obligations — — — — Corporate obligations — 242 — 242 Municipal obligations — 18 — 18 Agency, asset and mortgage-backed obligations — 17 — 17 Equity securities: United States companies 35 — — 35 Total assets in the hierarchy $ 68 $ 304 $ — 372 Investment funds (2) measured at net asset value 332 Total assets measured at fair value $ 704 As of December 31, 2020: Cash equivalents $ — $ 26 $ — $ 26 Debt securities: United States government obligations 14 — — 14 International government obligations — — — — Corporate obligations — 160 — 160 Municipal obligations — 17 — 17 Agency, asset and mortgage-backed obligations — — — — Equity securities: United States companies 65 — — 65 Total assets in the hierarchy $ 79 $ 203 $ — 282 Investment funds (2) measured at net asset value 393 Real estate funds measured at net asset value 43 Total assets measured at fair value $ 718 (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 56% and 44%, respectively, for 2021 and 65% and 35%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 90% and 10%, respectively, for 2021 and 82% and 18%, respectively, for 2020. 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, 2021: Cash equivalents $ 8 $ — $ — $ 8 Debt securities: United States 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 As of December 31, 2020: Cash equivalents $ 11 $ — $ — $ 11 Debt securities: United States government obligations 3 — — 3 Corporate obligations — 7 — 7 Municipal obligations — 65 — 65 Agency, asset and mortgage-backed obligations — 3 — 3 Equity securities: Investment funds (2) 189 — — 189 Total assets measured at fair value $ 203 $ 75 $ — $ 278 (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 2021 and 56% and 44%, respectively, for 2020. Additionally, these funds are invested in United States and international securities of approximately 82% and 18%, respectively, for 2021 and 56% and 44%, respectively, for 2020. 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, 2021: Assets: Commodity derivatives $ — $ 32 $ 3 $ (7) $ 28 Money market mutual funds 228 — — — 228 Debt securities: United States 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: United States companies 428 — — — 428 International companies 10 — — — 10 Investment funds 18 — — — 18 $ 916 $ 129 $ 3 $ (7) $ 1,041 Liabilities - commodity derivatives $ — $ (6) $ (8) $ 12 $ (2) As of December 31, 2020 Assets: Commodity derivatives $ — $ 4 $ 5 $ (5) $ 4 Money market mutual funds 41 — — — 41 Debt securities: United States government obligations 200 — — — 200 International government obligations — 5 — — 5 Corporate obligations — 73 — — 73 Municipal obligations — 2 — — 2 Agency, asset and mortgage-backed obligations — 6 — — 6 Equity securities: United States companies 381 — — — 381 International companies 9 — — — 9 Investment funds 17 — — — 17 $ 648 $ 90 $ 5 $ (5) $ 738 Liabilities - commodity derivatives $ — $ (4) $ (3) $ 5 $ (2) (1) Represents netting under master netting arrangements and a net cash collateral receivable of $5 million and $— million as of December 31, 2021 and 2020, respectively. |
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): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,721 $ 9,037 $ 7,210 $ 9,130 |
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): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 7,961 $ 9,350 $ 7,450 $ 9,466 |
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, 2021: Assets: Commodity derivatives $ — $ — $ 4 $ 4 Money market mutual funds 34 — — 34 Investment funds 3 — — 3 $ 37 $ — $ 4 $ 41 Liabilities - commodity derivatives $ — $ — $ (117) $ (117) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 26 $ 26 Money market mutual funds 21 — — 21 Investment funds 2 — — 2 $ 23 $ — $ 26 $ 49 Liabilities - commodity derivatives $ — $ — $ (11) $ (11) |
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): 2021 2020 2019 Beginning balance $ 15 $ (8) $ 3 Changes in fair value recognized in regulatory assets or liabilities (90) (17) (21) Settlements (38) 40 10 Ending balance $ (113) $ 15 $ (8) |
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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,499 $ 3,067 $ 2,496 $ 3,245 |
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, 2021: Assets: Commodity derivatives $ — $ — $ 2 $ 2 Money market mutual funds 10 — — 10 Investment funds 1 — — 1 $ 11 $ — $ 2 $ 13 Liabilities - commodity derivatives $ — $ — $ (35) $ (35) As of December 31, 2020: Assets: Commodity derivatives $ — $ — $ 9 $ 9 Money market mutual funds 17 — — 17 $ 17 $ — $ 9 $ 26 Liabilities - commodity derivatives $ — $ — $ (2) $ (2) |
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): 2021 2020 2019 Beginning balance $ 7 $ (1) $ 2 Changes in fair value recognized in regulatory assets or liabilities (25) (2) (5) Settlements (15) 10 2 Ending balance $ (33) $ 7 $ (1) |
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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,164 $ 1,316 $ 1,164 $ 1,358 |
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, 2021 Assets: Foreign currency exchange rate derivatives $ — $ 3 $ — $ 3 Investment funds 13 — — 13 $ 13 $ 3 $ — $ 16 Liabilities: Foreign currency exchange rate derivatives $ — $ (3) $ — $ (3) $ — $ (3) $ — $ (3) As of December 31, 2020 Assets: Foreign currency exchange rate derivatives $ — $ 20 $ — $ 20 $ — $ 20 $ — $ 20 Liabilities: Commodity derivatives $ — $ (1) $ — $ (1) Foreign currency exchange rate derivatives — (2) — (2) Interest rate derivatives — (6) — (6) $ — $ (9) $ — $ (9) |
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): 2021 2020 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 3,906 $ 4,266 $ 4,425 $ 5,012 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 2,475 $ 1,635 $ 1,422 $ 1,164 $ 1,054 $ 11,964 $ 19,714 Construction commitments 1,329 831 776 87 4 — 3,027 Easements 82 84 80 82 83 2,870 3,281 Maintenance, service and other contracts 474 364 300 249 240 1,543 3,170 $ 4,360 $ 2,914 $ 2,578 $ 1,582 $ 1,381 $ 16,377 $ 29,192 |
PAC | |
Contractual Obligation [Line Items] | |
Contractual Obligation, Fiscal Year Maturity Schedule | PacifiCorp has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2021 are as follows (in millions): 2022 2023 2024 2025 2026 2027 and Thereafter Total Contract type: Purchased electricity contracts - commercially operable $ 372 $ 223 $ 212 $ 194 $ 192 $ 2,190 $ 3,383 Fuel contracts 586 366 310 134 129 468 1,993 Construction commitments 51 106 27 — — — 184 Transmission 108 106 90 62 51 431 848 Easements 20 20 19 19 19 518 615 Maintenance, service and other contracts 113 56 53 52 51 253 578 Total commitments $ 1,250 $ 877 $ 711 $ 461 $ 442 $ 3,860 $ 7,601 |
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, 2021, are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Coal and natural gas for generation $ 127 $ 81 $ 55 $ 27 $ — $ — $ 290 Electric capacity and transmission 32 32 32 32 32 25 185 Natural gas contracts for gas operations 156 59 28 20 11 21 295 Construction commitments 806 19 12 11 4 — 852 Easements 40 41 42 43 44 1,574 1,784 Maintenance, services and other 165 166 131 99 98 260 919 $ 1,326 $ 398 $ 300 $ 232 $ 189 $ 1,880 $ 4,325 |
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, 2021 are as follows (in millions): 2022 2023 2024 2025 2026 2027 and Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 713 $ 458 $ 346 $ 348 $ 352 $ 3,250 $ 5,467 Fuel and capacity contract commitments (not commercially operable) 20 60 181 212 211 4,302 4,986 Construction commitments 141 209 — — — — 350 Easements 4 5 2 2 2 52 67 Maintenance, service and other contracts 51 34 23 18 14 33 173 Total commitments $ 929 $ 766 $ 552 $ 580 $ 579 $ 7,637 $ 11,043 |
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, 2021 are as follows (in millions): 2027 and 2022 2023 2024 2025 2026 Thereafter Total Contract type: Fuel, capacity and transmission contract commitments $ 338 $ 227 $ 149 $ 120 $ 105 $ 1,072 $ 2,011 Fuel and capacity contract commitments (not commercially operable) 25 27 27 26 26 459 590 Construction commitments 35 497 737 76 — — 1,345 Easements 2 2 2 2 2 28 38 Maintenance, service and other contracts 7 6 6 5 1 — 25 Total commitments $ 407 $ 759 $ 921 $ 229 $ 134 $ 1,559 $ 4,009 |
Revenue from Contract with Cust
Revenue from Contract with Customer (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 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 2019 PacifiCorp MidAmerican Funding NV Energy Northern Powergrid BHE Pipeline Group BHE Transmission BHE Renewables BHE and Other (1) Total Customer Revenue: Regulated: Retail Electric $ 4,789 $ 1,938 $ 2,740 $ — $ — $ — $ — $ (2) $ 9,465 Retail Gas — 570 116 — — — — — 686 Wholesale 99 309 51 — — — — (2) 457 Transmission and 98 57 98 876 — 690 — — 1,819 Interstate pipeline — — — — 1,122 — — (118) 1,004 Other — — 2 — — — — — 2 Total Regulated 4,986 2,874 3,007 876 1,122 690 — (122) 13,433 Nonregulated — 30 — 36 — 17 744 577 1,404 Total Customer Revenue 4,986 2,904 3,007 912 1,122 707 744 455 14,837 Other revenue 82 23 30 101 9 — 188 101 534 Total $ 5,068 $ 2,927 $ 3,037 $ 1,013 $ 1,131 $ 707 $ 932 $ 556 $ 15,371 (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 2021 2020 2019 Customer Revenue: Brokerage $ 5,498 $ 4,520 $ 4,028 Franchise 85 76 68 Total Customer Revenue 5,583 4,596 4,096 Mortgage and other revenue 632 800 377 Total $ 6,215 $ 5,396 $ 4,473 |
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, 2021, by reportable segment (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total BHE Pipeline Group $ 2,607 $ 21,038 $ 23,645 |
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): 2021 2020 2019 Customer Revenue: Retail: Residential $ 1,914 $ 1,910 $ 1,783 Commercial 1,559 1,578 1,522 Industrial 1,125 1,185 1,176 Other retail 249 259 230 Total retail 4,847 4,932 4,711 Wholesale 157 107 99 Transmission 143 96 98 Other Customer Revenue 108 108 78 Total Customer Revenue 5,255 5,243 4,986 Other revenue 41 98 82 Total operating revenue $ 5,296 $ 5,341 $ 5,068 |
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 18, (in millions): 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 For the Year Ended December 31, 2019 Electric Natural Gas Other Total Customer Revenue: Retail: Residential $ 672 $ 383 $ — $ 1,055 Commercial 322 132 — 454 Industrial 799 17 — 816 Natural gas transportation services — 38 — 38 Other retail 145 — — 145 Total retail 1,938 570 — 2,508 Wholesale 221 88 — 309 Multi-value transmission projects 57 — — 57 Other Customer Revenue — — 28 28 Total Customer Revenue 2,216 658 28 2,902 Other revenue 21 2 — 23 Total operating revenue $ 2,237 $ 660 $ 28 $ 2,925 |
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): 2021 2020 2019 Customer Revenue: Retail: Residential $ 1,207 $ 1,145 $ 1,141 Commercial 414 384 441 Industrial 386 345 433 Other 14 12 20 Total fully bundled 2,021 1,886 2,035 Distribution only service 22 24 31 Total retail 2,043 1,910 2,066 Wholesale, transmission and other 74 62 57 Total Customer Revenue 2,117 1,972 2,123 Other revenue 22 26 25 Total revenue $ 2,139 $ 1,998 $ 2,148 |
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): 2021 2020 2019 Electric Natural Gas Total Electric Natural Gas Total Electric Natural Gas Total Customer Revenue: Retail: Residential $ 307 $ 76 $ 383 $ 273 $ 76 $ 349 $ 268 $ 76 $ 344 Commercial 267 29 296 233 29 262 245 30 275 Industrial 202 10 212 170 9 179 186 10 196 Other 5 — 5 5 — 5 6 1 7 Total fully bundled 781 115 896 681 114 795 705 117 822 Distribution only service 3 — 3 4 — 4 4 — 4 Total retail 784 115 899 685 114 799 709 117 826 Wholesale, transmission and other 62 — 62 50 — 50 57 — 57 Total Customer Revenue 846 115 961 735 114 849 766 117 883 Other revenue 2 2 4 3 2 5 4 2 6 Total revenue $ 848 $ 117 $ 965 $ 738 $ 116 $ 854 $ 770 $ 119 $ 889 |
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): 2021 2020 2019 Customer Revenue: Regulated: Gas transportation and storage $ 1,044 $ 1,242 $ 1,300 Wholesale 57 43 9 Other (2) 4 7 Total regulated 1,099 1,289 1,316 Nonregulated 767 798 849 Total Customer Revenue 1,866 2,087 2,165 Other revenue 4 3 4 Total operating revenue $ 1,870 $ 2,090 $ 2,169 |
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, 2021 (in millions): Performance obligations expected to be satisfied Less than 12 months More than 12 months Total Eastern Energy Gas $ 1,594 $ 16,126 $ 17,720 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2018 $ (358) $ (1,623) $ 36 $ — $ (1,945) Other comprehensive (loss) income (59) 327 (29) — 239 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) |
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 Balance, December 31, 2018 $ (144) $ (25) $ — $ (169) Other comprehensive income (loss) 38 (56) — (18) 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) |
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): Affected Line Item In The Amounts Consolidated Reclassified Statements of From AOCI Operations 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 2019 Deferred (gains) and losses on derivatives-hedging activities: Commodity contracts $ (4) Net income from discontinued operations Interest rate contracts 5 Interest expense Foreign currency contracts 6 Other, net Total 7 Tax (2) Income tax expense (benefit) Total, net of tax $ 5 Unrecognized pension costs: Actuarial losses $ 7 Other, net Total 7 Tax (2) Income tax expense (benefit) Total, net of tax $ 5 |
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, 2021 (in millions): AOCI After-Tax Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax Maximum Term Interest rate $ (38) $ (4) 276 months Foreign currency (4) (3) 54 months Total $ (42) $ (7) |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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): 2021 2020 2019 Non-service cost components of postretirement employee benefit plans $ 26 $ 24 $ 17 Corporate-owned life insurance income 21 16 24 Gains on disposition of assets — 6 — Interest income and other, net 6 6 9 Total $ 53 $ 52 $ 50 |
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): 2021 2020 2019 Non-service cost components of postretirement employee benefit plans $ 26 $ 24 $ 17 Corporate-owned life insurance income 21 16 24 Gains on disposition of assets — 6 — Interest income and other, net 7 6 11 Total $ 54 $ 52 $ 52 |
Supplemental Cash Flow Disclo_2
Supplemental Cash Flow Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Cash Flow Statements, Captions [Line Items] | |
Schedule of Cash Flow Supplemental Disclosures | The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,041 $ 1,855 $ 1,723 Income taxes received, net (1) $ 1,309 $ 1,361 $ 850 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 834 $ 801 $ 888 (1) Includes $1,441 million, $1,504 million and $942 million of income taxes received from Berkshire Hathaway in 2021, 2020 and 2019, 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, 2021 and 2020, 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): 2021 2020 Cash and cash equivalents $ 179 $ 13 Restricted cash included in other current assets 4 4 Restricted cash included in other assets 3 2 Total cash and cash equivalents and restricted cash and cash equivalents $ 186 $ 19 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 395 $ 348 $ 340 Income taxes (received) paid, net $ (120) $ 107 $ 171 Supplemental disclosure of non-cash investing and financing activities: Accounts payable related to property, plant and equipment additions $ 254 $ 344 $ 293 |
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, 2021 and 2020 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, 2021 2020 Cash and cash equivalents $ 232 $ 38 Restricted cash and cash equivalents in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 239 $ 45 The summary of supplemental cash flow disclosures as of and for the years ending December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 279 $ 286 $ 224 Income taxes received, net $ 746 $ 709 $ 450 Supplemental disclosure of non-cash investing transactions: Accounts payable related to utility plant additions $ 257 $ 227 $ 337 |
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, 2021 and 2020 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, 2021 2020 Cash and cash equivalents $ 233 $ 39 Restricted cash and cash equivalents in other current assets 7 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 240 $ 46 The summary of supplemental cash flow information as of and for the years ending December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 296 $ 302 $ 245 Income taxes received, net $ 751 $ 715 $ 456 Supplemental disclosure of non-cash investing and financing transactions: Accounts payable related to utility plant additions $ 257 $ 227 $ 337 Distribution of corporate aircraft to parent $ — $ — $ 8 |
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, 2021 and December 31, 2020, 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, December 31, 2021 2020 Cash and cash equivalents $ 33 $ 25 Restricted cash and cash equivalents included in other current assets 12 11 Total cash and cash equivalents and restricted cash and cash equivalents $ 45 $ 36 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 115 $ 115 $ 126 Income taxes paid $ 63 $ 50 $ 113 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 53 $ 32 $ 49 |
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, 2021 and December 31, 2020, 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, December 31, 2021 2020 Cash and cash equivalents $ 10 $ 19 Restricted cash and cash equivalents included in other current assets 6 7 Total cash and cash equivalents and restricted cash and cash equivalents $ 16 $ 26 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 41 $ 42 $ 41 Income taxes (refunded) paid $ (3) $ 2 $ 37 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 27 $ 17 $ 18 |
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 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, December 31, 2021 2020 Cash and cash equivalents $ 22 $ 35 Restricted cash and cash equivalents 17 13 Total cash and cash equivalents and restricted cash and cash equivalents $ 39 $ 48 The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): 2021 2020 2019 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 144 $ 317 $ 291 Income taxes (received) paid, net $ (60) $ 31 $ 65 Supplemental disclosure of non-cash investing and financing transactions: Accruals related to property, plant and equipment additions $ 42 $ 30 $ 25 Equity distributions $ (137) $ — $ — Equity contributions $ 73 $ — $ — Distribution of Questar Pipeline Group $ — $ (699) $ — Distribution of 50% interest in Cove Point $ — $ (2,765) $ — Acquisition of Eastern Energy Gas by BHE $ — $ 343 $ — |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 years ended December 31 (in millions): 2020 2019 Sales of natural gas and transportation and storage services $ 207 $ 249 Purchases of natural gas and transportation and storage services 10 12 Services provided by related parties (1) 129 226 Services provided to related parties (2) 83 164 (1) Includes capitalized expenditures of $14 million and $19 million for the years ended December 31, 2020 and 2019, respectively. (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): 2021 2020 Sales of natural gas and transportation and storage services $ 32 $ 4 Purchases of natural gas and transportation and storage services 5 — Services provided by related parties 51 4 Services provided to related parties 32 7 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 2020 2019 Operating revenue: PacifiCorp $ 5,296 $ 5,341 $ 5,068 MidAmerican Funding 3,547 2,728 2,927 NV Energy 3,107 2,854 3,037 Northern Powergrid 1,188 1,022 1,013 BHE Pipeline Group 3,544 1,578 1,131 BHE Transmission 731 659 707 BHE Renewables 981 936 932 HomeServices 6,215 5,396 4,473 BHE and Other (1) 541 438 556 Total operating revenue $ 25,150 $ 20,952 $ 19,844 Depreciation and amortization: PacifiCorp $ 1,088 $ 1,209 $ 954 MidAmerican Funding 914 716 638 NV Energy 549 502 482 Northern Powergrid 305 266 254 BHE Pipeline Group 492 231 115 BHE Transmission 238 201 240 BHE Renewables 241 284 282 HomeServices 52 45 47 BHE and Other (1) 2 1 (1) Total depreciation and amortization $ 3,881 $ 3,455 $ 3,011 Years Ended December 31, 2021 2020 2019 Operating income: PacifiCorp $ 1,133 $ 924 $ 1,072 MidAmerican Funding 416 454 549 NV Energy 621 649 655 Northern Powergrid 543 421 472 BHE Pipeline Group 1,516 779 572 BHE Transmission 339 316 323 BHE Renewables 329 291 336 HomeServices 505 511 222 BHE and Other (1) (75) (54) (51) Total operating income 5,327 4,291 4,150 Interest expense (2,118) (2,021) (1,912) Capitalized interest 64 80 77 Allowance for equity funds 126 165 173 Interest and dividend income 89 71 117 Gains (losses) on marketable securities, net 1,823 4,797 (288) Other, net (17) 88 97 Total income before income tax (benefit) expense and equity loss $ 5,294 $ 7,471 $ 2,414 Interest expense: PacifiCorp $ 430 $ 426 $ 401 MidAmerican Funding 319 322 302 NV Energy 206 227 229 Northern Powergrid 130 130 139 BHE Pipeline Group 143 74 52 BHE Transmission 155 148 157 BHE Renewables 158 166 174 HomeServices 4 11 25 BHE and Other (1) 573 517 433 Total interest expense $ 2,118 $ 2,021 $ 1,912 Income tax (benefit) expense: PacifiCorp $ (78) $ (75) $ 61 MidAmerican Funding (680) (574) (377) NV Energy 56 61 98 Northern Powergrid 192 96 59 BHE Pipeline Group 269 162 138 BHE Transmission 10 13 11 BHE Renewables (2) (753) (602) (325) HomeServices 138 138 51 BHE and Other (1) (286) 1,089 (314) Total income tax (benefit) expense $ (1,132) $ 308 $ (598) Years Ended December 31, 2021 2020 2019 Earnings on common shares: PacifiCorp $ 889 $ 741 $ 773 MidAmerican Funding 883 818 781 NV Energy 439 410 365 Northern Powergrid 247 201 256 BHE Pipeline Group 807 528 422 BHE Transmission 247 231 229 BHE Renewables (2) 451 521 431 HomeServices 387 375 160 BHE and Other (1) 1,319 3,092 (467) Total earnings on common shares $ 5,669 $ 6,917 $ 2,950 Capital expenditures: PacifiCorp $ 1,513 $ 2,540 $ 2,175 MidAmerican Funding 1,912 1,836 2,810 NV Energy 749 675 657 Northern Powergrid 742 682 602 BHE Pipeline Group 1,128 659 687 BHE Transmission 279 372 247 BHE Renewables 225 95 122 HomeServices 42 36 54 BHE and Other 21 (130) 10 Total capital expenditures $ 6,611 $ 6,765 $ 7,364 As of December 31, 2021 2020 2019 Property, plant and equipment, net: PacifiCorp $ 22,914 $ 22,430 $ 20,973 MidAmerican Funding 20,302 19,279 18,377 NV Energy 10,231 9,865 9,613 Northern Powergrid 7,572 7,230 6,606 BHE Pipeline Group 15,692 15,097 5,482 BHE Transmission 6,590 6,445 6,157 BHE Renewables 6,103 5,645 5,976 HomeServices 169 159 161 BHE and Other 243 (22) (40) Total property, plant and equipment, net $ 89,816 $ 86,128 $ 73,305 Total assets: PacifiCorp $ 27,615 $ 26,862 $ 24,861 MidAmerican Funding 25,352 23,530 22,664 NV Energy 15,239 14,501 14,128 Northern Powergrid 9,326 8,782 8,385 BHE Pipeline Group 20,434 19,541 6,100 BHE Transmission 9,476 9,208 8,776 BHE Renewables 11,829 12,004 9,961 HomeServices 4,574 4,955 3,846 BHE and Other 8,220 7,933 1,330 Total assets $ 132,065 $ 127,316 $ 100,051 Years Ended December 31, 2021 2020 2019 Operating revenue by country: United States $ 23,215 $ 19,254 $ 18,108 United Kingdom 1,188 1,022 1,011 Canada 719 653 706 Other 28 23 19 Total operating revenue by country $ 25,150 $ 20,952 $ 19,844 Income before income tax (benefit) expense and equity loss by country: United States $ 4,650 $ 6,954 $ 1,866 United Kingdom 454 338 326 Canada 181 173 178 Other 9 6 44 Total income before income tax (benefit) expense and equity loss by country: $ 5,294 $ 7,471 $ 2,414 As of December 31, 2021 2020 2019 Property, plant and equipment, net by country: United States $ 75,774 $ 72,583 $ 60,634 United Kingdom 7,487 7,134 6,504 Canada 6,547 6,401 6,157 Other 8 10 10 Total property, plant and equipment, net by country $ 89,816 $ 86,128 $ 73,305 (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, 2021 and 2020 (in millions): BHE MidAmerican NV Northern Pipeline BHE BHE PacifiCorp Funding Energy Powergrid Group Transmission Renewables HomeServices Total December 31, 2019 $ 1,129 $ 2,102 $ 2,369 $ 978 $ 73 $ 1,520 $ 95 $ 1,456 $ 9,722 Acquisitions — — — — 1,730 — — 1 1,731 Foreign currency translation — — — 22 — 31 — — 53 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 |
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, 2021 2020 2019 Operating revenue: Regulated electric $ 2,529 $ 2,139 $ 2,237 Regulated natural gas 1,003 573 660 Other 15 8 28 Total operating revenue $ 3,547 $ 2,720 $ 2,925 Depreciation and amortization: Regulated electric $ 861 $ 667 $ 593 Regulated natural gas 53 49 46 Total depreciation and amortization $ 914 $ 716 $ 639 Operating income: Regulated electric $ 358 $ 384 $ 473 Regulated natural gas 58 64 71 Other — — 4 Total operating income $ 416 $ 448 $ 548 Interest expense: Regulated electric $ 279 $ 281 $ 259 Regulated natural gas 23 23 22 Total interest expense $ 302 $ 304 $ 281 Years Ended December 31, 2021 2020 2019 Income tax (benefit) expense: Regulated electric $ (677) $ (584) $ (384) Regulated natural gas 3 14 12 Other (1) — 1 Total income tax (benefit) expense $ (675) $ (570) $ (371) Net income: Regulated electric $ 844 $ 780 $ 739 Regulated natural gas 50 45 52 Other — 1 2 Net income $ 894 $ 826 $ 793 Capital expenditures: Regulated electric $ 1,806 $ 1,704 $ 2,684 Regulated natural gas 106 132 126 Total capital expenditures $ 1,912 $ 1,836 $ 2,810 As of December 31, 2021 2020 2019 Total assets: Regulated electric $ 21,385 $ 19,892 $ 19,093 Regulated natural gas 1,871 1,544 1,468 Other 1 1 3 Total assets $ 23,257 $ 21,437 $ 20,564 |
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, 2021 2020 2019 Operating revenue: Regulated electric $ 2,529 $ 2,139 $ 2,237 Regulated natural gas 1,003 573 660 Other 15 16 30 Total operating revenue $ 3,547 $ 2,728 $ 2,927 Depreciation and amortization: Regulated electric $ 861 $ 667 $ 593 Regulated natural gas 53 49 46 Total depreciation and amortization $ 914 $ 716 $ 639 Operating income: Regulated electric $ 358 $ 384 $ 473 Regulated natural gas 58 64 71 Other — 6 5 Total operating income $ 416 $ 454 $ 549 Interest expense: Regulated electric $ 279 $ 281 $ 259 Regulated natural gas 23 23 22 Other 17 18 21 Total interest expense $ 319 $ 322 $ 302 Income tax (benefit) expense: Regulated electric $ (677) $ (584) $ (384) Regulated natural gas 3 14 12 Other (6) (4) (5) Total income tax (benefit) expense $ (680) $ (574) $ (377) Net income: Regulated electric $ 844 $ 780 $ 739 Regulated natural gas 50 45 52 Other (11) (7) (10) Net income $ 883 $ 818 $ 781 Years Ended December 31, 2021 2020 2019 Capital expenditures: Regulated electric $ 1,806 $ 1,704 $ 2,684 Regulated natural gas 106 132 126 Total capital expenditures $ 1,912 $ 1,836 $ 2,810 As of December 31, 2021 2020 2019 Total assets: Regulated electric $ 22,576 $ 21,083 $ 20,284 Regulated natural gas 1,950 1,623 1,547 Other 5 5 9 Total assets $ 24,531 $ 22,711 $ 21,840 |
Schedule of Goodwill | Goodwill by reportable segment as of December 31, 2021 and 2020, 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, 2021 2020 2019 Operating revenue: Regulated electric $ 848 $ 738 $ 770 Regulated natural gas 117 116 119 Total operating revenue $ 965 $ 854 $ 889 Operating income: Regulated electric $ 148 $ 147 $ 150 Regulated natural gas 19 18 21 Total operating income 167 165 171 Interest expense (54) (56) (48) Allowance for borrowed funds 2 2 1 Allowance for equity funds 7 4 3 Interest and dividend income 9 4 3 Other, net 11 7 1 Income before income tax expense $ 142 $ 126 $ 131 As of December 31, 2021 2020 2019 Assets Regulated electric $ 3,829 $ 3,540 $ 3,319 Regulated natural gas 365 342 308 Regulated common assets (1) 29 37 44 Total assets $ 4,223 $ 3,919 $ 3,671 (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, 2021naturalGasProducercompanyoperatingSegment | |
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, 2021mi | |
Iroquois Gas Transmission System, L.P. | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 50.00% |
Primary Beneficiary | General Partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 100.00% |
Primary Beneficiary | Limited Partner | Cove Point LNG, LP | |
Variable Interest Entity [Line Items] | |
Variable interest entity, ownership percentage | 25.00% |
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 - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | $ 77 | $ 44 | $ 42 |
Charged to operating costs and expenses, net | 81 | 56 | 47 |
Acquisitions | 0 | 5 | 0 |
Write-offs, net | (50) | (28) | (45) |
Ending balance | $ 108 | $ 77 | $ 44 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - BHE - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounting Policies [Abstract] | |||
Inventory, other fossil fuel | $ 296 | $ 382 | |
Inventory, raw materials and supplies, gross | 826 | 786 | |
Replacement cost of inventory, higher (lower) | 27 | 10 | |
Goodwill impairment | 0 | 0 | $ 0 |
Unbilled revenue | $ 718 | $ 750 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - PAC - Narrative (Details) - PAC - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Accumulated unrealized gains and losses on available-for-sale securities | $ 0 | $ 0 |
Unbilled contracts receivable | $ 264 | $ 254 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - PAC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 81 | $ 56 | $ 47 |
Write-offs, net | (50) | (28) | (45) |
PAC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 17 | 8 | 8 |
Charged to operating costs and expenses, net | 13 | 18 | 13 |
Write-offs, net | (12) | (9) | (13) |
Ending balance | $ 18 | $ 17 | $ 8 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - MEC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 81 | $ 56 | $ 47 |
Write-offs, net | (50) | (28) | (45) |
MEC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 12 | 5 | 7 |
Charged to operating costs and expenses, net | 10 | 12 | 9 |
Write-offs, net | (10) | (5) | (11) |
Ending balance | $ 12 | $ 12 | $ 5 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - MEC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2020 |
Allowance for Doubtful Accounts(1) [Line Items] | |||
Inventory, raw materials and supplies, gross | $ 826 | $ 786 | |
Replacement cost of inventory, higher (lower) | 27 | 10 | |
Unbilled revenue | 718 | 750 | |
MEC | |||
Allowance for Doubtful Accounts(1) [Line Items] | |||
Inventory, raw materials and supplies, gross | 135 | 129 | |
Public utility inventory, coal | 63 | 119 | |
Public utility inventory - natural gas in storage | 30 | 26 | |
Replacement cost of inventory, higher (lower) | 27 | 10 | |
Unbilled revenue | 85 | 95 | |
Adjustment clause accounts receivable (payable) | $ 230 | $ 245 | $ 22 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - MidAmerican Funding LLC - Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Line Items] | |||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
MidAmerican Funding, LLC | |||
Goodwill [Line Items] | |||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - NPC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 81 | $ 56 | $ 47 |
Write-offs, net | (50) | (28) | (45) |
NPC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 19 | 15 | 16 |
Charged to operating costs and expenses, net | 13 | 13 | 12 |
Write-offs, net | (14) | (9) | (13) |
Ending balance | $ 18 | $ 19 | $ 15 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - NPC - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2021USD ($)reportableSegmentoperatingSegment | Dec. 31, 2020USD ($) | |
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 826 | $ 786 |
Number of reportable segments | operatingSegment | 8 | |
NPC | ||
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 64 | $ 69 |
AFUDC rate | 7.14% | 7.43% |
Unbilled contracts receivable | $ 107 | $ 104 |
Contractual assets | $ 6 | $ 8 |
Number of reportable segments | reportableSegment | 1 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - SPPC - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 81 | $ 56 | $ 47 |
Write-offs, net | (50) | (28) | (45) |
SPPC | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 2 | 2 | 2 |
Charged to operating costs and expenses, net | 2 | 2 | 1 |
Write-offs, net | (3) | (2) | (1) |
Ending balance | $ 1 | $ 2 | $ 2 |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - SPPC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | $ 826 | $ 786 |
Inventory, other fossil fuel | 296 | 382 |
Unbilled revenue | 718 | 750 |
SPPC | ||
Inventory [Line Items] | ||
Inventory, raw materials and supplies, gross | 62 | 67 |
Inventory, other fossil fuel | 3 | 10 |
Unbilled revenue | $ 78 | $ 59 |
Generation | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 6.75% | 6.75% |
Natural gas | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 5.75% | 5.75% |
Common Facilities | SPPC | ||
Inventory [Line Items] | ||
AFUDC rate | 6.65% | 6.65% |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - EEGH - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Charged to operating costs and expenses, net | $ 81 | $ 56 | $ 47 |
Write-offs, net | (50) | (28) | (45) |
EEGH | |||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Beginning balance | 5 | 2 | 0 |
Charged to operating costs and expenses, net | 1 | 4 | 2 |
Write-offs, net | 0 | (1) | 0 |
Ending balance | $ 6 | $ 5 | $ 2 |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - EEGH - Narrative (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2021USD ($)operatingSegment | Dec. 31, 2020USD ($) | |
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 718 | $ 750 |
Number of reportable segments | operatingSegment | 8 | |
EEGH | ||
Disaggregation of Revenue [Line Items] | ||
Unbilled revenue | $ 36 | 95 |
Contract assets | 19 | 29 |
Contract liabilities | $ 18 | $ 19 |
Number of reportable segments | operatingSegment | 1 |
Business Acquisitions - Narrati
Business Acquisitions - Narrative (Details) - USD ($) $ in Millions | Jul. 14, 2021 | Nov. 02, 2020 | Nov. 01, 2020 | Oct. 05, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 03, 2020 |
Business Acquisition [Line Items] | ||||||||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 | |||||
Net income attributable to parent | 5,790 | 6,943 | 2,950 | |||||
Goodwill | 11,650 | 11,506 | 9,722 | |||||
Acquisitions, net of cash acquired | $ 122 | 2,397 | $ 27 | |||||
Iroquois Gas Transmission System, L.P. | ||||||||
Business Acquisition [Line Items] | ||||||||
Equity method investment, ownership percentage | 50.00% | |||||||
Natural Gas Transmission and Storage | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to acquire businesses | $ 2,500 | |||||||
Long-term debt, less current portion | 4,415 | $ 5,600 | ||||||
Net income attributable to parent | $ 316 | 73 | ||||||
Transaction costs | 9 | |||||||
Accounting revision period | 12 months | |||||||
Goodwill | 1,741 | |||||||
Assets acquired | 13,403 | |||||||
Liabilities assumed | $ 6,973 | |||||||
Natural Gas Transmission and Storage | Natural Gas | ||||||||
Business Acquisition [Line Items] | ||||||||
Revenues | $ 2,159 | $ 331 | ||||||
Natural Gas Transmission and Storage | Goodwill | ||||||||
Business Acquisition [Line Items] | ||||||||
Useful life, intangible asset | 15 years | |||||||
Natural Gas Transmission and Storage | Domestic Tax Authority and State and Local Jurisdiction | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 900 | |||||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | Other Ownership Interest | ||||||||
Business Acquisition [Line Items] | ||||||||
Variable interest entity, ownership percentage | 25.00% | 25.00% | ||||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | General Partner | ||||||||
Business Acquisition [Line Items] | ||||||||
Variable interest entity, ownership percentage | 100.00% | 100.00% | ||||||
Natural Gas Transmission and Storage | Primary Beneficiary | Cove Point LNG, LP | Limited Partner | ||||||||
Business Acquisition [Line Items] | ||||||||
Variable interest entity, ownership percentage | 25.00% | 25.00% | ||||||
Natural Gas Transmission and Storage | Iroquois Gas Transmission System, L.P. | ||||||||
Business Acquisition [Line Items] | ||||||||
Equity method investment, ownership percentage | 50.00% | |||||||
Natural Gas Transmission and Storage | Eastern Gas Transmission, Inc. | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage acquired | 100.00% | |||||||
Natural Gas Transmission and Storage | Carolina Gas Transmission, LLC | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage acquired | 100.00% | |||||||
Questar Pipeline Group and Dominion Questar Transaction | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to acquire businesses | $ 1,300 | $ 1,300 | $ 1,300 | |||||
Long-term debt, less current portion | $ 430 | |||||||
Various acquisitions | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 129 | |||||||
Acquisitions, net of cash acquired | 122 | |||||||
Assets acquired | 54 | |||||||
Liabilities assumed | $ 61 |
Business Acquisitions - Schedul
Business Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 01, 2020 | Jul. 03, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||
Goodwill | $ 11,650 | $ 11,506 | $ 9,722 | ||
Regulatory assets | $ 3,963 | $ 3,440 | |||
Natural Gas Transmission and Storage | |||||
Business Acquisition [Line Items] | |||||
Current assets, including cash and cash equivalents | $ 582 | ||||
Property, plant and equipment | 9,264 | ||||
Goodwill | 1,741 | ||||
Regulatory assets | 108 | ||||
Deferred income taxes | 284 | ||||
Other long-term assets | 1,424 | ||||
Total assets | 13,403 | ||||
Current liabilities, including current portion of long-term debt | 1,616 | ||||
Long-term debt, less current portion | 4,415 | $ 5,600 | |||
Regulatory liabilities | 650 | ||||
Other long-term liabilities | 292 | ||||
Total liabilities | 6,973 | ||||
Noncontrolling interest | 3,916 | ||||
Net assets acquired | 2,514 | ||||
Cash and cash equivalents | 104 | ||||
Current portion of long-term debt | $ 1,200 |
Business Acquisitions - Summary
Business Acquisitions - Summary of Pro Forma Information (Details) - Natural Gas Transmission and Storage - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||
Operating revenue | $ 22,581 | $ 21,979 |
Net income attributable to BHE shareholders | $ 6,800 | $ 3,271 |
Business Acquisitions and Dis_3
Business Acquisitions and Dispositions - Narrative (Details) - USD ($) $ in Millions | Jul. 14, 2021 | Nov. 02, 2020 | Nov. 01, 2020 | Oct. 05, 2020 | Nov. 06, 2019 | Jul. 31, 2021 | Nov. 30, 2020 | Jul. 31, 2020 | Jun. 30, 2015 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 03, 2020 |
Business Acquisition [Line Items] | |||||||||||||
Distribution of net assets | $ 699 | ||||||||||||
Contributions | $ 9 | ||||||||||||
Noncontrolling Interest | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Contributions | $ 9 | ||||||||||||
Iroquois Gas Transmission System, L.P. | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Equity method investment, ownership percentage | 50.00% | ||||||||||||
Natural Gas Transmission and Storage | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to acquire businesses | $ 2,500 | ||||||||||||
Long-term debt, less current portion | $ 4,415 | $ 5,600 | |||||||||||
Natural Gas Transmission and Storage | Cove Point LNG, LP | Primary Beneficiary | Other Ownership Interest | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Variable interest entity, ownership percentage | 25.00% | 25.00% | |||||||||||
Natural Gas Transmission and Storage | Cove Point LNG, LP | Primary Beneficiary | General Partner | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Variable interest entity, ownership percentage | 100.00% | 100.00% | |||||||||||
Natural Gas Transmission and Storage | Cove Point LNG, LP | Primary Beneficiary | Limited Partner | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Variable interest entity, ownership percentage | 25.00% | 25.00% | |||||||||||
Natural Gas Transmission and Storage | Iroquois Gas Transmission System, L.P. | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Equity method investment, ownership percentage | 50.00% | ||||||||||||
Questar Pipeline Group and Dominion Questar Transaction | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Payments to acquire businesses | $ 1,300 | $ 1,300 | $ 1,300 | ||||||||||
Long-term debt, less current portion | $ 430 | ||||||||||||
EEGH | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Contributions | $ 419 | $ 1,223 | $ 3,385 | ||||||||||
EEGH | Cove Point LNG, LP | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Noncontrolling interest distributed | 25.00% | ||||||||||||
Ownership interest | 25.00% | 75.00% | 75.00% | ||||||||||
EEGH | Cove Point LNG, LP | Primary Beneficiary | General Partner | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Variable interest entity, ownership percentage | 100.00% | ||||||||||||
EEGH | Cove Point LNG, LP | Primary Beneficiary | Limited Partner | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Variable interest entity, ownership percentage | 25.00% | ||||||||||||
EEGH | White River Hub, LLC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership interest | 50.00% | ||||||||||||
EEGH | Iroquois Gas Transmission System, L.P. | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership interest | 25.93% | ||||||||||||
EEGH | GT&S Transaction | Disposed of by Means Other than Sale | Cove Point LNG, LP | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Noncontrolling interest distributed | 50.00% | ||||||||||||
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 | 50.00% | ||||||||||||
EEGH | White River Hub, LLC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Equity method investment, ownership percentage | 50.00% | ||||||||||||
EEGH | Iroquois Gas Transmission System, L.P. | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Equity method investment, ownership percentage | 50.00% | ||||||||||||
Variable interest entity, ownership percentage | 50.00% | ||||||||||||
Dominion Energy, Inc. | Cove Point LNG, LP | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Retained interest after disposal | 50.00% | ||||||||||||
Ownership interest | 25.00% | 50.00% | 50.00% | ||||||||||
Carolina Gas Transmission, LLC | Natural Gas Transmission and Storage | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership percentage acquired | 100.00% | ||||||||||||
Eastern Gas Transmission, Inc. | Natural Gas Transmission and Storage | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Ownership percentage acquired | 100.00% |
Business Acquisitions and Dis_4
Business Acquisitions and Dispositions - Schedule of Discontinued Operations (Details) - USD ($) $ in Millions | 10 Months Ended | 12 Months Ended | |||
Nov. 06, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Income tax expense | $ 33 | ||||
Accretion | $ 47 | $ 51 | |||
Accrued capital expenditures | 834 | 801 | 888 | ||
EEGH | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Net income from discontinued operations | [1] | 0 | 0 | 141 | |
Accretion | 1 | 4 | |||
Accrued capital expenditures | $ 42 | $ 30 | $ 25 | ||
EEGH | East Ohio | Disposed of by Means Other than Sale | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Operating revenue | $ 594 | ||||
Depreciation and amortization | 73 | ||||
Other operating expenses | 399 | ||||
Other income (expense), net | 28 | ||||
Income tax expense | 26 | ||||
Net income from discontinued operations | 124 | ||||
Capital expenditures | 299 | ||||
Accretion | 20 | ||||
Accrued capital expenditures | 2 | ||||
EEGH | Eastern Gathering and Processing, Inc. | Disposed of by Means Other than Sale | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Operating revenue | 125 | ||||
Depreciation and amortization | 4 | ||||
Other operating expenses | 97 | ||||
Income tax expense | 7 | ||||
Net income from discontinued operations | 17 | ||||
Capital expenditures | $ 11 | ||||
[1] | Includes income tax expense of $33Â million for the year ended December 31, 2019. |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, net | $ 89,816 | $ 86,128 | $ 73,305 |
Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 107,646 | 103,397 | |
Accumulated depreciation and amortization | (32,680) | (30,662) | |
Net operating assets | 74,966 | 72,735 | |
Construction work-in-progress | 3,800 | 3,200 | |
Regulated assets | Utility generation, transmission and distribution systems | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 90,223 | 86,730 | |
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 | $ 17,423 | 16,667 | |
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 | $ 13,695 | 12,671 | |
Accumulated depreciation and amortization | (3,041) | (2,586) | |
Net operating assets | 10,654 | 10,085 | |
Nonregulated assets | Independent power plants | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 7,665 | 7,012 | |
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 | $ 3,364 | 3,339 | |
Depreciable life | 40 years | ||
Nonregulated assets | Other assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 2,666 | 2,320 | |
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] | |||
Net operating assets | $ 85,620 | 82,820 | |
Construction work-in-progress | 4,196 | 3,308 | |
Property, plant and equipment, net | $ 89,816 | $ 86,128 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 32,262 | $ 30,717 | |
Accumulated depreciation and amortization | (10,507) | (9,838) | |
Utility plant in-service, net | 21,755 | 20,879 | |
Plant, net | 21,773 | 20,888 | |
Construction work- in-progress | 1,141 | 1,542 | |
Property, plant and equipment, net | $ 22,914 | $ 22,430 | |
Depreciation and amortization rate | 3.50% | 4.10% | 3.30% |
Accelerated depreciation | $ 376 | $ 125 | |
Amount of acquisition adjustments | $ 156 | ||
Acquisition adjustments, accumulated depreciation | 143 | 140 | |
Revised depreciation rates, 2021 depreciation increase | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 158 | ||
Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 15 years | ||
Useful life, transmission | 60 years | ||
Useful life, distribution | 20 years | ||
Useful life, intangible asset | 5 years | ||
Useful life, other | 5 years | ||
Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 59 years | ||
Useful life, transmission | 90 years | ||
Useful life, distribution | 75 years | ||
Useful life, intangible asset | 75 years | ||
Useful life, other | 60 years | ||
Generation | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 13,679 | 12,861 | |
Transmission | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 7,894 | 7,632 | |
Distribution | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 8,044 | 7,660 | |
Intangible plant | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | 1,106 | 1,054 | |
Other | |||
Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 1,539 | 1,510 | |
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] | |||
Plant, net | $ 18 | $ 9 | |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 19,201 | $ 18,773 | |
Property, plant and equipment, net | $ 20,301 | $ 19,279 | |
Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization rate | 3.30% | 3.20% | 3.10% |
Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization rate | 2.80% | 2.80% | 2.80% |
Regulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Utility plant in-service | $ 26,571 | $ 25,669 | |
Accumulated depreciation and amortization | (7,376) | (6,902) | |
Plant, net | 19,195 | 18,767 | |
Construction work- in-progress | 1,100 | 506 | |
Regulated assets | Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Generation | 17,397 | 16,980 | |
Transmission | 2,474 | 2,365 | |
Distribution | 4,661 | 4,369 | |
Regulated assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Distribution | 2,039 | 1,955 | |
Nonregulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Nonregulated property gross | 7 | 7 | |
Accumulated depreciation and amortization | (1) | (1) | |
Plant, net | $ 6 | $ 6 | |
Minimum | Regulated assets | Electric | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, generation | 20 years | ||
Useful life, transmission | 52 years | ||
Useful life, distribution | 20 years | ||
Minimum | Regulated assets | Natural gas | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Useful life, distribution | 29 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 | 70 years | ||
Useful life, transmission | 75 years | ||
Useful life, distribution | 75 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, 2021 | Dec. 31, 2020 |
Other | MidAmerican Funding, LLC | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 1 | $ 0 |
Property, Plant and Equipment_7
Property, Plant and Equipment, Net - NPC (Details) - NPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 6,647 | $ 6,559 | |
Construction work- in-progress | 244 | 142 | |
Property, plant and equipment, net | $ 6,891 | $ 6,701 | |
Depreciation and amortization rate | 3.20% | 3.10% | 3.30% |
Regulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Generation | $ 3,793 | $ 3,690 | |
Transmission | 1,503 | 1,468 | |
Distribution | 3,920 | 3,771 | |
General and intangible plant | 836 | 791 | |
Utility plant in-service | 10,052 | 9,720 | |
Accumulated depreciation and amortization | (3,406) | (3,162) | |
Plant, net | 6,646 | 6,558 | |
Nonregulated assets | |||
Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Public Utility, Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 3,121 | $ 3,027 | |
Construction work- in-progress | 219 | 137 | |
Property, plant and equipment, net | $ 3,340 | $ 3,164 | |
Depreciation and amortization rate | 3.10% | 3.20% | 3.10% |
Regulated assets | Generation | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Generation | $ 1,163 | $ 1,130 | |
Transmission | 940 | 908 | |
Distribution | 1,846 | 1,754 | |
General and intangible plant | $ 204 | 189 | |
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 | $ 438 | 429 | |
General and intangible plant | $ 14 | 15 | |
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 | $ 370 | 355 | |
Utility plant in-service | 4,975 | 4,780 | |
Accumulated depreciation and amortization | (1,854) | (1,755) | |
Plant, net | $ 3,121 | 3,025 | |
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 | ||
Nonregulated assets | |||
Public Utility, Property, Plant and Equipment [Line Items] | |||
Plant, net | $ 0 | $ 2 | |
Useful life, other | 70 years |
Property, Plant and Equipment_9
Property, Plant and Equipment, Net - EEGH (Details) - EEGH - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Plant, net | $ 9,961 | $ 9,934 |
Construction work- in-progress | 239 | 210 |
Property, plant and equipment, net | 10,200 | 10,144 |
Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 8,785 | 8,497 |
Accumulated depreciation and amortization | (2,901) | (2,759) |
Plant, net | 5,884 | 5,738 |
Construction work- in-progress | 209 | 196 |
Nonregulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | 4,500 | 4,479 |
Accumulated depreciation and amortization | (423) | (283) |
Plant, net | 4,077 | 4,196 |
Interstate natural gas pipeline assets | Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 8,675 | 8,382 |
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 | 44 years | |
Intangible plant | Regulated assets | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Utility plant in-service | $ 110 | 115 |
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 | 10 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 | $ 4,475 | $ 4,454 |
Jointly Owned Utility Facilit_3
Jointly Owned Utility Facilities (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Revenue sharing credits netted against facility in service | 561 |
Revenue sharing credits netted against accumulated depreciation | 127 |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,609 |
Accumulated depreciation | 2,363 |
Construction work in progress | $ 153 |
PAC | Jim Bridger Nos. 1-4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 67.00% |
Facility in service | $ 1,523 |
Accumulated depreciation | 812 |
Construction work in progress | $ 15 |
PAC | Hunter No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 94.00% |
Facility in service | $ 489 |
Accumulated depreciation | 221 |
Construction work in progress | $ 8 |
PAC | Hunter No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60.00% |
Facility in service | $ 306 |
Accumulated depreciation | 138 |
Construction work in progress | $ 1 |
PAC | Wyodak | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 80.00% |
Facility in service | $ 477 |
Accumulated depreciation | 269 |
Construction work in progress | $ 8 |
PAC | Colstrip Nos. 3 and 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 10.00% |
Facility in service | $ 260 |
Accumulated depreciation | 161 |
Construction work in progress | $ 3 |
PAC | Hermiston | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 185 |
Accumulated depreciation | 99 |
Construction work in progress | $ 0 |
PAC | Craig Nos. 1 and 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19.00% |
Facility in service | $ 369 |
Accumulated depreciation | 319 |
Construction work in progress | $ 0 |
PAC | Hayden No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25.00% |
Facility in service | $ 77 |
Accumulated depreciation | 47 |
Construction work in progress | $ 0 |
PAC | Hayden No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 13.00% |
Facility in service | $ 44 |
Accumulated depreciation | 28 |
Construction work in progress | 0 |
PAC | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 879 |
Accumulated depreciation | 269 |
Construction work in progress | 118 |
MidAmerican Energy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,553 |
Accumulated depreciation | 2,439 |
Construction work in progress | 80 |
MidAmerican Energy | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 263 |
Accumulated depreciation | 100 |
Construction work in progress | $ 4 |
MidAmerican Energy | Louisa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 88.00% |
Facility in service | $ 864 |
Accumulated depreciation | 501 |
Construction work in progress | $ 20 |
MidAmerican Energy | Quad Cities Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25.00% |
Facility in service | $ 732 |
Accumulated depreciation | 452 |
Construction work in progress | $ 9 |
MidAmerican Energy | Walter Scott, Jr. No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 79.00% |
Facility in service | $ 949 |
Accumulated depreciation | 518 |
Construction work in progress | $ 15 |
MidAmerican Energy | Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60.00% |
Facility in service | $ 225 |
Accumulated depreciation | 134 |
Construction work in progress | $ 8 |
MidAmerican Energy | George Neal No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 41.00% |
Facility in service | $ 318 |
Accumulated depreciation | 184 |
Construction work in progress | $ 4 |
MidAmerican Energy | Ottumwa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 52.00% |
Facility in service | $ 674 |
Accumulated depreciation | 264 |
Construction work in progress | $ 11 |
MidAmerican Energy | George Neal No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 72.00% |
Facility in service | $ 528 |
Accumulated depreciation | 286 |
Construction work in progress | 9 |
NV Energy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 624 |
Accumulated depreciation | 379 |
Construction work in progress | 2 |
NV Energy | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 65 |
Accumulated depreciation | 34 |
Construction work in progress | $ 0 |
NV Energy | Navajo | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 11.00% |
Facility in service | $ 5 |
Accumulated depreciation | 5 |
Construction work in progress | $ 0 |
NV Energy | Valmy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 394 |
Accumulated depreciation | 309 |
Construction work in progress | $ 1 |
NV Energy | On Line Transmission Line | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25.00% |
Facility in service | $ 160 |
Accumulated depreciation | 31 |
Construction work in progress | 1 |
BHE Pipeline Group | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 718 |
Accumulated depreciation | 317 |
Construction work in progress | $ 11 |
BHE Pipeline Group | Ellisburg Pool | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 39.00% |
Facility in service | $ 31 |
Accumulated depreciation | 11 |
Construction work in progress | $ 1 |
BHE Pipeline Group | Ellisburg Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 26 |
Accumulated depreciation | 8 |
Construction work in progress | $ 1 |
BHE Pipeline Group | Harrison | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
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 | 50.00% |
Facility in service | $ 132 |
Accumulated depreciation | 46 |
Construction work in progress | $ 7 |
BHE Pipeline Group | Oakford | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 200 |
Accumulated depreciation | 68 |
Construction work in progress | 2 |
BHE Pipeline Group | Common Facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 276 |
Accumulated depreciation | 166 |
Construction work in progress | $ 0 |
Jointly Owned Utility Facilit_4
Jointly Owned Utility Facilities - PAC (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
PAC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,609 |
Accumulated depreciation | 2,363 |
Construction work in progress | $ 153 |
PAC | Jim Bridger Nos. 1-4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 67.00% |
Facility in service | $ 1,523 |
Accumulated depreciation | 812 |
Construction work in progress | $ 15 |
PAC | Hunter No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 94.00% |
Facility in service | $ 489 |
Accumulated depreciation | 221 |
Construction work in progress | $ 8 |
PAC | Hunter No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60.00% |
Facility in service | $ 306 |
Accumulated depreciation | 138 |
Construction work in progress | $ 1 |
PAC | Wyodak | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 80.00% |
Facility in service | $ 477 |
Accumulated depreciation | 269 |
Construction work in progress | $ 8 |
PAC | Colstrip Nos. 3 and 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 10.00% |
Facility in service | $ 260 |
Accumulated depreciation | 161 |
Construction work in progress | $ 3 |
PAC | Hermiston | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 185 |
Accumulated depreciation | 99 |
Construction work in progress | $ 0 |
PAC | Craig Nos. 1 and 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19.00% |
Facility in service | $ 369 |
Accumulated depreciation | 319 |
Construction work in progress | $ 0 |
PAC | Hayden No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25.00% |
Facility in service | $ 77 |
Accumulated depreciation | 47 |
Construction work in progress | $ 0 |
PAC | Hayden No. 2 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 13.00% |
Facility in service | $ 44 |
Accumulated depreciation | 28 |
Construction work in progress | 0 |
PAC | Transmission and distribution facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 879 |
Accumulated depreciation | 269 |
Construction work in progress | $ 118 |
Jointly Owned Utility Facilit_5
Jointly Owned Utility Facilities - MEC (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Revenue sharing credits netted against facility in service | 561 |
Revenue sharing credits netted against accumulated depreciation | 127 |
MEC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 4,553 |
Accumulated depreciation | 2,439 |
Construction work in progress | $ 80 |
MEC | Louisa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 88.00% |
Facility in service | $ 864 |
Accumulated depreciation | 501 |
Construction work in progress | $ 20 |
MEC | Quad Cities Station | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 25.00% |
Facility in service | $ 732 |
Accumulated depreciation | 452 |
Construction work in progress | $ 9 |
MEC | Walter Scott, Jr. No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 79.00% |
Facility in service | $ 949 |
Accumulated depreciation | 518 |
Construction work in progress | $ 15 |
MEC | Walter Scott, Jr. No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 60.00% |
Facility in service | $ 225 |
Accumulated depreciation | 134 |
Construction work in progress | $ 8 |
MEC | George Neal No. 4 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 41.00% |
Facility in service | $ 318 |
Accumulated depreciation | 184 |
Construction work in progress | $ 4 |
MEC | Ottumwa No. 1 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 52.00% |
Facility in service | $ 674 |
Accumulated depreciation | 264 |
Construction work in progress | $ 11 |
MEC | George Neal No. 3 | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 72.00% |
Facility in service | $ 528 |
Accumulated depreciation | 286 |
Construction work in progress | 9 |
MEC | Transmission facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 263 |
Accumulated depreciation | 100 |
Construction work in progress | $ 4 |
Jointly Owned Utility Facilit_6
Jointly Owned Utility Facilities - NPC (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
NPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 186 |
Accumulated depreciation | 60 |
Construction work in progress | $ 1 |
NPC | Navajo | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 11.00% |
Facility in service | $ 5 |
Accumulated depreciation | 5 |
Construction work in progress | $ 0 |
NPC | ON Line deferrals | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 19.00% |
Facility in service | $ 120 |
Accumulated depreciation | 23 |
Construction work in progress | 1 |
NPC | Other transmission facilities | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 61 |
Accumulated depreciation | 32 |
Construction work in progress | $ 0 |
Jointly Owned Utility Facilit_7
Jointly Owned Utility Facilities - SPPC (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
SPPC | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 438 |
Accumulated depreciation | 319 |
Construction work in progress | $ 1 |
SPPC | Valmy | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 394 |
Accumulated depreciation | 309 |
Construction work in progress | $ 1 |
SPPC | ON Line deferrals | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 6.00% |
Facility in service | $ 40 |
Accumulated depreciation | 8 |
Construction work in progress | $ 0 |
SPPC | Valmy Transmission | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 4 |
Accumulated depreciation | 2 |
Construction work in progress | $ 0 |
Jointly Owned Utility Facilit_8
Jointly Owned Utility Facilities - EEGH (Details) $ in Millions | Dec. 31, 2021USD ($) |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | $ 10,504 |
Accumulated depreciation | 5,498 |
Construction work in progress | 246 |
EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Facility in service | 442 |
Accumulated depreciation | 151 |
Construction work in progress | $ 11 |
Ellisburg Pool | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 39.00% |
Facility in service | $ 31 |
Accumulated depreciation | 11 |
Construction work in progress | $ 1 |
Ellisburg Station | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 26 |
Accumulated depreciation | 8 |
Construction work in progress | $ 1 |
Harrison | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 53 |
Accumulated depreciation | 18 |
Construction work in progress | $ 0 |
Leidy | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 132 |
Accumulated depreciation | 46 |
Construction work in progress | $ 7 |
Oakford | EEGH | |
Jointly Owned Utility Plant Interests [Line Items] | |
Ownership share | 50.00% |
Facility in service | $ 200 |
Accumulated depreciation | 68 |
Construction work in progress | $ 2 |
Leases - Schedule of Operating
Leases - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets: | ||
Operating leases | $ 524 | $ 517 |
Finance leases | 448 | 501 |
Total right-of-use assets | $ 972 | $ 1,018 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Lease liabilities: | ||
Operating leases | $ 577 | $ 569 |
Finance leases | 463 | 514 |
Total lease liabilities | $ 1,040 | $ 1,083 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Variable | $ 611 | $ 592 | $ 623 |
Operating | 161 | 151 | 170 |
Finance lease, amortization | 23 | 18 | 16 |
Finance lease, interest expense | 38 | 40 | 41 |
Short-term | 15 | 20 | 7 |
Total lease costs | $ 848 | $ 821 | $ 857 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 7 months 6 days | 7 years 4 months 24 days | 7 years 7 months 6 days |
Finance leases | 28 years 1 month 6 days | 27 years 6 months | 28 years 9 months 18 days |
Weighted-average discount rate: | |||
Operating leases | 4.30% | 4.50% | 5.20% |
Finance leases | 8.60% | 8.50% | 8.60% |
Leases - Schedule of Operatin_2
Leases - Schedule of Operating and Finance Lease, Supplemental Cash Flow (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Operating cash flows from operating leases | $ (163) | $ (152) | $ (153) |
Operating cash flows from finance leases | (38) | (40) | (42) |
Financing cash flows from finance leases | (28) | (24) | (19) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 119 | 83 | 82 |
Finance leases | $ 2 | $ 19 | $ 14 |
Leases - Schedule of Lease Matu
Leases - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating | ||
2022 | $ 157 | |
2023 | 124 | |
2024 | 93 | |
2025 | 71 | |
2026 | 55 | |
Thereafter | 186 | |
Total undiscounted lease payments | 686 | |
Less - amounts representing interest | (109) | |
Operating leases | 577 | $ 569 |
Finance | ||
2022 | 72 | |
2023 | 62 | |
2024 | 62 | |
2025 | 60 | |
2026 | 60 | |
Thereafter | 607 | |
Total undiscounted lease payments | 923 | |
Less - amounts representing interest | (460) | |
Finance leases | 463 | 514 |
Total | ||
2022 | 229 | |
2023 | 186 | |
2024 | 155 | |
2025 | 131 | |
2026 | 115 | |
Thereafter | 793 | |
Total undiscounted lease payments | 1,609 | |
Less - amounts representing interest | (569) | |
Total lease liabilities | $ 1,040 | $ 1,083 |
Leases - PAC - Schedule of Oper
Leases - PAC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets: | ||
Operating leases | $ 524 | $ 517 |
Finance leases | 448 | 501 |
Total right-of-use assets | $ 972 | $ 1,018 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 577 | $ 569 |
Finance leases | 463 | 514 |
Total lease liabilities | $ 1,040 | $ 1,083 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | 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 | 11 | 17 |
Total right-of-use assets | $ 22 | $ 28 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 11 | $ 11 |
Finance leases | 12 | 17 |
Total lease liabilities | $ 23 | $ 28 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 611 | $ 592 | $ 623 |
Operating | 161 | 151 | 170 |
Finance lease, amortization | 23 | 18 | 16 |
Finance lease, interest expense | 38 | 40 | 41 |
Short-term | 15 | 20 | 7 |
Total lease costs | $ 848 | $ 821 | $ 857 |
Weighted-average remaining lease term (years): | |||
Finance leases | 28 years 1 month 6 days | 27 years 6 months | 28 years 9 months 18 days |
Operating leases | 4.30% | 4.50% | 5.20% |
Weighted-average discount rate: | |||
Finance leases | 8.60% | 8.50% | 8.60% |
Operating leases | 7 years 7 months 6 days | 7 years 4 months 24 days | 7 years 7 months 6 days |
PAC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 56 | $ 60 | $ 77 |
Operating | 3 | 3 | 3 |
Finance lease, amortization | 5 | 2 | 1 |
Finance lease, interest expense | 2 | 2 | 2 |
Short-term | 3 | 1 | 2 |
Total lease costs | $ 69 | $ 68 | $ 85 |
Weighted-average remaining lease term (years): | |||
Finance leases | 10 years 1 month 6 days | 8 years 4 months 24 days | 9 years 1 month 6 days |
Operating leases | 3.70% | 3.80% | 3.70% |
Weighted-average discount rate: | |||
Finance leases | 11.10% | 10.50% | 10.60% |
Operating leases | 12 years 8 months 12 days | 13 years 10 months 24 days | 14 years |
Leases - PAC - Schedule of Le_2
Leases - PAC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating | ||
2022 | $ 157 | |
2023 | 124 | |
2024 | 93 | |
2025 | 71 | |
2026 | 55 | |
Thereafter | 186 | |
Total undiscounted lease payments | 686 | |
Less - amounts representing interest | (109) | |
Operating leases | 577 | $ 569 |
Finance | ||
2022 | 72 | |
2023 | 62 | |
2024 | 62 | |
2025 | 60 | |
2026 | 60 | |
Thereafter | 607 | |
Total undiscounted lease payments | 923 | |
Less - amounts representing interest | (460) | |
Finance leases | 463 | 514 |
Total | ||
2022 | 229 | |
2023 | 186 | |
2024 | 155 | |
2025 | 131 | |
2026 | 115 | |
Thereafter | 793 | |
Total undiscounted lease payments | 1,609 | |
Less - amounts representing interest | (569) | |
Total lease liabilities | 1,040 | 1,083 |
PAC | ||
Operating | ||
2022 | 3 | |
2023 | 2 | |
2024 | 1 | |
2025 | 1 | |
2026 | 1 | |
Thereafter | 6 | |
Total undiscounted lease payments | 14 | |
Less - amounts representing interest | (3) | |
Operating leases | 11 | 11 |
Finance | ||
2022 | 3 | |
2023 | 2 | |
2024 | 2 | |
2025 | 2 | |
2026 | 2 | |
Thereafter | 10 | |
Total undiscounted lease payments | 21 | |
Less - amounts representing interest | (9) | |
Finance leases | 12 | 17 |
Total | ||
2022 | 6 | |
2023 | 4 | |
2024 | 3 | |
2025 | 3 | |
2026 | 3 | |
Thereafter | 16 | |
Total undiscounted lease payments | 35 | |
Less - amounts representing interest | (12) | |
Total lease liabilities | $ 23 | $ 28 |
Leases - NPC - Schedule of Oper
Leases - NPC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets: | ||
Operating leases | $ 524 | $ 517 |
Finance leases | 448 | 501 |
Total right-of-use assets | $ 972 | $ 1,018 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 577 | $ 569 |
Finance leases | 463 | 514 |
Total lease liabilities | $ 1,040 | $ 1,083 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
NPC | ||
Right-of-use assets: | ||
Operating leases | $ 10 | $ 12 |
Finance leases | 326 | 351 |
Total right-of-use assets | $ 336 | $ 363 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 13 | $ 15 |
Finance leases | 336 | 361 |
Total lease liabilities | $ 349 | $ 376 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 611 | $ 592 | $ 623 |
Operating | 161 | 151 | 170 |
Finance lease, amortization | 23 | 18 | 16 |
Finance lease, interest expense | 38 | 40 | 41 |
Total lease costs | $ 848 | $ 821 | $ 857 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 7 months 6 days | 7 years 4 months 24 days | 7 years 7 months 6 days |
Finance leases | 28 years 1 month 6 days | 27 years 6 months | 28 years 9 months 18 days |
Weighted-average discount rate: | |||
Operating leases | 4.30% | 4.50% | 5.20% |
Finance leases | 8.60% | 8.50% | 8.60% |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 449 | $ 434 | $ 434 |
Operating | 2 | 3 | 3 |
Finance lease, amortization | 13 | 12 | 13 |
Finance lease, interest expense | 28 | 29 | 37 |
Total lease costs | $ 492 | $ 478 | $ 487 |
Weighted-average remaining lease term (years): | |||
Operating leases | 5 years 8 months 12 days | 6 years 6 months | 7 years 6 months |
Finance leases | 28 years 8 months 12 days | 28 years 8 months 12 days | 30 years 7 months 6 days |
Weighted-average discount rate: | |||
Operating leases | 4.50% | 4.50% | 4.50% |
Finance leases | 8.60% | 8.60% | 8.70% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ (163) | $ (152) | $ (153) |
Operating cash flows from finance leases | (38) | (40) | (42) |
Financing cash flows from finance leases | (28) | (24) | (19) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 119 | 83 | 82 |
Finance leases | 2 | 19 | 14 |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | (3) | (3) | (3) |
Operating cash flows from finance leases | (29) | (34) | (37) |
Financing cash flows from finance leases | (16) | (15) | (14) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Operating leases | 0 | 1 | 0 |
Finance leases | $ 1 | $ 9 | $ 9 |
Leases - NPC - Schedule of Le_2
Leases - NPC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating | ||
2022 | $ 157 | |
2023 | 124 | |
2024 | 93 | |
2025 | 71 | |
2026 | 55 | |
Thereafter | 186 | |
Total undiscounted lease payments | 686 | |
Less - amounts representing interest | (109) | |
Operating leases | 577 | $ 569 |
Finance | ||
2022 | 72 | |
2023 | 62 | |
2024 | 62 | |
2025 | 60 | |
2026 | 60 | |
Thereafter | 607 | |
Total undiscounted lease payments | 923 | |
Less - amounts representing interest | (460) | |
Finance leases | 463 | 514 |
Total | ||
2022 | 229 | |
2023 | 186 | |
2024 | 155 | |
2025 | 131 | |
2026 | 115 | |
Thereafter | 793 | |
Total undiscounted lease payments | 1,609 | |
Less - amounts representing interest | (569) | |
Total lease liabilities | 1,040 | 1,083 |
NPC | ||
Operating | ||
2022 | 3 | |
2023 | 2 | |
2024 | 3 | |
2025 | 2 | |
2026 | 3 | |
Thereafter | 2 | |
Total undiscounted lease payments | 15 | |
Less - amounts representing interest | (2) | |
Operating leases | 13 | 15 |
Finance | ||
2022 | 54 | |
2023 | 44 | |
2024 | 44 | |
2025 | 43 | |
2026 | 43 | |
Thereafter | 448 | |
Total undiscounted lease payments | 676 | |
Less - amounts representing interest | (340) | |
Finance leases | 336 | 361 |
Total | ||
2022 | 57 | |
2023 | 46 | |
2024 | 47 | |
2025 | 45 | |
2026 | 46 | |
Thereafter | 450 | |
Total undiscounted lease payments | 691 | |
Less - amounts representing interest | (342) | |
Total lease liabilities | $ 349 | $ 376 |
Leases - NPC - Narrative (Detai
Leases - NPC - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Remaining share ownership, transmission tine project | 75.00% | ||
ON Line financing lease obligation | $ 286 | $ 295 | |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Remaining share ownership, transmission tine project | 75.00% | ||
ON Line financing lease obligation | $ 110 | $ 122 | |
ON Line deferrals | Nevada Utilities | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 25.00% | ||
ON Line deferrals | NPC | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 95.00% | 75.00% | |
Finance lease term | 41 years | ||
ON Line deferrals | SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 5.00% | 25.00% | |
Finance lease term | 41 years |
Leases - SPPC - Schedule of Ope
Leases - SPPC - Schedule of Operating and Finance Lease (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Right-of-use assets: | ||
Operating leases | $ 524 | $ 517 |
Finance lease right of use assets, net | 448 | 501 |
Total right-of-use assets | $ 972 | $ 1,018 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 577 | $ 569 |
Finance leases | 463 | 514 |
Total lease liabilities | $ 1,040 | $ 1,083 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
SPPC | ||
Right-of-use assets: | ||
Operating leases | $ 15 | $ 16 |
Finance lease right of use assets, net | 111 | 126 |
Total right-of-use assets | $ 126 | $ 142 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Lease liabilities: | ||
Operating leases | $ 15 | $ 16 |
Finance leases | 115 | 130 |
Total lease liabilities | $ 130 | $ 146 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other current liabilities, Other long-term liabilities | Other current liabilities, Other long-term liabilities |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Variable | $ 611 | $ 592 | $ 623 |
Operating | 161 | 151 | 170 |
Finance lease, amortization | 23 | 18 | 16 |
Finance lease, interest expense | 38 | 40 | 41 |
Total lease costs | $ 848 | $ 821 | $ 857 |
Weighted-average remaining lease term (years): | |||
Operating leases | 7 years 7 months 6 days | 7 years 4 months 24 days | 7 years 7 months 6 days |
Finance leases | 28 years 1 month 6 days | 27 years 6 months | 28 years 9 months 18 days |
Weighted-average discount rate: | |||
Operating leases | 4.30% | 4.50% | 5.20% |
Finance leases | 8.60% | 8.50% | 8.60% |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Variable | $ 86 | $ 78 | $ 69 |
Operating | 1 | 2 | 1 |
Finance lease, amortization | 5 | 4 | 2 |
Finance lease, interest expense | 9 | 9 | 2 |
Total lease costs | $ 101 | $ 93 | $ 74 |
Weighted-average remaining lease term (years): | |||
Operating leases | 27 years 4 months 24 days | 27 years 2 months 12 days | 26 years 3 months 18 days |
Finance leases | 28 years 4 months 24 days | 27 years 9 months 18 days | 20 years 10 months 24 days |
Weighted-average discount rate: | |||
Operating leases | 5.00% | 5.00% | 5.00% |
Finance leases | 8.20% | 8.10% | 7.10% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ (163) | $ (152) | $ (153) |
Operating cash flows from finance leases | (38) | (40) | (42) |
Financing cash flows from finance leases | (28) | (24) | (19) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Finance leases | 2 | 19 | 14 |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | (1) | (2) | (3) |
Operating cash flows from finance leases | (9) | (6) | (3) |
Financing cash flows from finance leases | (7) | (5) | (3) |
Right-of-use assets obtained in exchange for lease liabilities: | |||
Finance leases | $ 1 | $ 89 | $ 5 |
Leases - SPPC - Schedule of L_2
Leases - SPPC - Schedule of Lease Maturity (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating | ||
2022 | $ 157 | |
2023 | 124 | |
2024 | 93 | |
2025 | 71 | |
2026 | 55 | |
Thereafter | 186 | |
Total undiscounted lease payments | 686 | |
Less - amounts representing interest | (109) | |
Operating leases | 577 | $ 569 |
Finance | ||
2022 | 72 | |
2023 | 62 | |
2024 | 62 | |
2025 | 60 | |
2026 | 60 | |
Thereafter | 607 | |
Total undiscounted lease payments | 923 | |
Less - amounts representing interest | (460) | |
Finance leases | 463 | 514 |
Total | ||
2022 | 229 | |
2023 | 186 | |
2024 | 155 | |
2025 | 131 | |
2026 | 115 | |
Thereafter | 793 | |
Total undiscounted lease payments | 1,609 | |
Less - amounts representing interest | (569) | |
Total lease liabilities | 1,040 | 1,083 |
SPPC | ||
Operating | ||
2022 | 1 | |
2023 | 1 | |
2024 | 1 | |
2025 | 1 | |
2026 | 1 | |
Thereafter | 24 | |
Total undiscounted lease payments | 29 | |
Less - amounts representing interest | (14) | |
Operating leases | 15 | 16 |
Finance | ||
2022 | 16 | |
2023 | 16 | |
2024 | 15 | |
2025 | 15 | |
2026 | 15 | |
Thereafter | 149 | |
Total undiscounted lease payments | 226 | |
Less - amounts representing interest | (111) | |
Finance leases | 115 | 130 |
Total | ||
2022 | 17 | |
2023 | 17 | |
2024 | 16 | |
2025 | 16 | |
2026 | 16 | |
Thereafter | 173 | |
Total undiscounted lease payments | 255 | |
Less - amounts representing interest | (125) | |
Total lease liabilities | $ 130 | $ 146 |
Leases - SPPC - Narrative (Deta
Leases - SPPC - Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | |
SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Remaining share ownership, transmission tine project | 75.00% | ||
ON Line financing lease obligation | $ 110 | $ 122 | |
NPC | |||
Lessee, Lease, Description [Line Items] | |||
Remaining share ownership, transmission tine project | 75.00% | ||
ON Line financing lease obligation | $ 286 | $ 295 | |
ON Line deferrals | Nevada Utilities | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 25.00% | ||
ON Line deferrals | SPPC | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 5.00% | 25.00% | |
Finance lease term | 41 years | ||
ON Line deferrals | NPC | |||
Lessee, Lease, Description [Line Items] | |||
Utilities aggregate share ownership, transmission line project | 95.00% | 75.00% | |
Finance lease term | 41 years |
Regulatory Matters - Regulatory
Regulatory Matters - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 3,963 | $ 3,440 |
Regulatory assets, current | 544 | 283 |
Regulatory assets, noncurrent | 3,419 | 3,157 |
Regulatory assets not earning a return on investment | $ 1,800 | 1,600 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 742 | 640 |
Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 531 | 139 |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Total regulatory assets | $ 472 | 722 |
Deferred income taxes | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 342 | 283 |
Asset disposition costs | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 285 | 347 |
Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 211 | 197 |
Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 157 | 31 |
Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 28 years | |
Total regulatory assets | $ 108 | 89 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 9 years | |
Total regulatory assets | $ 103 | 124 |
Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 1,012 | $ 868 |
Regulatory Matters - Regulato_2
Regulatory Matters - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,214 | $ 7,475 |
Regulatory liabilities | 254 | 254 |
Regulatory liabilities, noncurrent | 6,960 | 7,221 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 3,185 | 3,600 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 2,424 | 2,435 |
Asset retirement obligations | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 31 years | |
Total regulatory liabilities | $ 345 | 305 |
Levelized depreciation | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 29 years | |
Total regulatory liabilities | $ 259 | 281 |
Employee benefit plans | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 243 | 187 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 758 | $ 667 |
Regulatory Matters - PAC - Regu
Regulatory Matters - PAC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 3,963 | $ 3,440 |
Regulatory assets, current | 544 | 283 |
Regulatory assets, noncurrent | 3,419 | 3,157 |
Regulatory assets not earning a return on investment | $ 1,800 | 1,600 |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
Total regulatory assets | $ 472 | 722 |
Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 531 | 139 |
Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 157 | 31 |
Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 28 years | |
Total regulatory assets | $ 108 | 89 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 742 | 640 |
Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 211 | 197 |
PAC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 1,352 | 1,395 |
Regulatory assets, current | 65 | 116 |
Regulatory assets, noncurrent | 1,287 | 1,279 |
Regulatory assets not earning a return on investment | $ 723 | 707 |
PAC | DSM Regulatory Assets | ||
Regulatory Assets [Line Items] | ||
Amounts billed to customers, acceleration depreciation | 185 | |
PAC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 17 years | |
Total regulatory assets | $ 286 | 432 |
PAC | Utah mine disposition | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 116 | 117 |
PAC | Unamortized contract values | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 2 years | |
Total regulatory assets | $ 36 | 42 |
PAC | Deferred net power costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 2 years | |
Total regulatory assets | $ 151 | 78 |
PAC | Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 0 | 17 |
PAC | Environmental costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 28 years | |
Total regulatory assets | $ 108 | 89 |
PAC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 29 years | |
Total regulatory assets | $ 241 | 252 |
PAC | Demand side management | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 10 years | |
Total regulatory assets | $ 211 | 196 |
PAC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 203 | $ 172 |
Regulatory Matters - PAC - Re_2
Regulatory Matters - PAC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,214 | $ 7,475 |
Regulatory liabilities | 254 | 254 |
Regulatory liabilities, noncurrent | $ 6,960 | 7,221 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 2,424 | 2,435 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 3,185 | 3,600 |
PAC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 2,768 | 2,842 |
Regulatory liabilities | 118 | 115 |
Regulatory liabilities, noncurrent | $ 2,650 | 2,727 |
PAC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 1,187 | 1,125 |
Regulatory liabilities, noncurrent | 1,187 | 1,125 |
PAC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 1,307 | 1,463 |
PAC | Unrealized gain on regulated derivatives | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 1 year | |
Total regulatory liabilities | $ 53 | 0 |
PAC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 221 | $ 254 |
Regulatory Matters - MEC - Regu
Regulatory Matters - MEC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 3,419 | $ 3,157 |
Regulatory assets not earning a return on investment | $ 1,800 | 1,600 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 15 years | |
MEC | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 473 | 392 |
Regulatory assets not earning a return on investment | $ 470 | 389 |
MEC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 6 years | |
Regulatory assets | $ 393 | 298 |
MEC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 13 years | |
Regulatory assets | $ 42 | 66 |
MEC | Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Regulatory assets | $ 5 | 0 |
MEC | Other | ||
Regulatory Assets [Line Items] | ||
Regulatory assets | $ 33 | $ 28 |
Regulatory Matters - MEC - Re_2
Regulatory Matters - MEC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 6,960 | $ 7,221 | |
Cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 26 years | ||
Asset retirement obligations | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 31 years | ||
MEC | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 1,080 | 1,111 | |
Adjustment clause accounts receivable (payable) | $ 230 | $ 245 | 22 |
MEC | Cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 29 years | ||
Regulatory liabilities | $ 394 | 466 | |
MEC | Asset retirement obligations | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 31 years | ||
Regulatory liabilities | $ 341 | 300 | |
MEC | Iowa electric revenue sharing accrual | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 1 year | ||
Regulatory liabilities | $ 115 | 0 | |
MEC | Deferred income taxes | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 83 | 263 | |
MEC | Employee benefit plans | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 9 years | ||
Regulatory liabilities | $ 55 | 20 | |
MEC | Pre-funded AFUDC on transmission MVPs | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 51 years | ||
Regulatory liabilities | $ 34 | 35 | |
MEC | Unrealized gain on regulated derivatives | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liability, amortization period | 1 year | ||
Regulatory liabilities | $ 26 | 2 | |
MEC | Other | |||
Regulatory Liabilities [Line Items] | |||
Regulatory liabilities | $ 32 | $ 25 |
Regulatory Matters - NPC - Regu
Regulatory Matters - NPC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 3,963 | $ 3,440 |
Regulatory assets, current | 544 | 283 |
Regulatory assets, noncurrent | 3,419 | 3,157 |
Regulatory assets not earning a return on investment | 1,800 | 1,600 |
Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 157 | 31 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 9 years | |
Total regulatory assets | $ 103 | 124 |
Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 742 | 640 |
NPC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 1,019 | 794 |
Regulatory assets, current | 291 | 48 |
Regulatory assets, noncurrent | 728 | 746 |
Regulatory assets not earning a return on investment | $ 371 | 288 |
NPC | Deferred energy costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 273 | 39 |
NPC | Decommissioning costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 2 years | |
Total regulatory assets | $ 169 | 230 |
NPC | Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 117 | 11 |
NPC | Merger costs from 1999 merger | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 23 years | |
Total regulatory assets | $ 110 | 115 |
NPC | Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 12 years | |
Total regulatory assets | $ 93 | 119 |
NPC | Asset retirement obligations | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 6 years | |
Total regulatory assets | $ 73 | 70 |
NPC | ON Line deferrals | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 32 years | |
Total regulatory assets | $ 42 | 43 |
NPC | Legacy Meters | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 11 years | |
Total regulatory assets | $ 41 | 45 |
NPC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 8 years | |
Total regulatory assets | $ 11 | 50 |
NPC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 90 | $ 72 |
Regulatory Matters - NPC - Re_2
Regulatory Matters - NPC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,214 | $ 7,475 |
Regulatory liabilities | 254 | 254 |
Regulatory liabilities | $ 6,960 | 7,221 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 2,424 | 2,435 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 758 | 667 |
NPC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 1,149 | 1,213 |
Regulatory liabilities | 49 | 50 |
Regulatory liabilities | 1,100 | 1,163 |
NPC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 603 | 647 |
NPC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 31 years | |
Total regulatory liabilities | $ 348 | 340 |
NPC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 198 | $ 226 |
Regulatory Matters - NPC - Narr
Regulatory Matters - NPC - Narrative (Details) - NPC - Public Utilities Commission, Nevada - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |||
Oct. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | |
General Rate Case | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Filing supported rate decrease | $ 96 | ||||
Requested rate increase (decrease) | $ (120) | ||||
Approved rate increase (decrease) | $ (93) | ||||
One-time bill credit | $ 120 | $ 120 | |||
Energy Efficiency Rate Case | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Customer refund liability | $ 8 | $ 8 |
Regulatory Matters - SPPC - Reg
Regulatory Matters - SPPC - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 3,963 | $ 3,440 |
Regulatory assets, current | 544 | 283 |
Regulatory assets, noncurrent | 3,419 | 3,157 |
Regulatory assets not earning a return on investment | 1,800 | 1,600 |
Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 157 | 31 |
Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 9 years | |
Total regulatory assets | $ 103 | 124 |
SPPC | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 440 | 334 |
Regulatory assets, current | 177 | 67 |
Regulatory assets, noncurrent | 263 | 267 |
Regulatory assets not earning a return on investment | $ 158 | 149 |
SPPC | Deferred energy costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 107 | 22 |
SPPC | Merger costs from 1999 merger | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 25 years | |
Total regulatory assets | $ 66 | 68 |
SPPC | Natural disaster protection plan | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 62 | 45 |
SPPC | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 8 years | |
Total regulatory assets | $ 46 | 81 |
SPPC | Unrealized loss on derivative contracts | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 1 year | |
Total regulatory assets | $ 35 | 2 |
SPPC | Deferred operating costs | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 8 years | |
Total regulatory assets | $ 31 | 27 |
SPPC | Abandoned projects | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 5 years | |
Total regulatory assets | $ 19 | 22 |
SPPC | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 74 | $ 67 |
Regulatory Matters - SPPC - R_2
Regulatory Matters - SPPC - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,214 | $ 7,475 |
Regulatory liabilities | 254 | 254 |
Regulatory liabilities, noncurrent | $ 6,960 | 7,221 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 2,424 | 2,435 |
Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 758 | 667 |
SPPC | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 463 | 497 |
Regulatory liabilities | 19 | 34 |
Regulatory liabilities, noncurrent | 444 | 463 |
SPPC | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 234 | 249 |
SPPC | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 36 years | |
Total regulatory liabilities | $ 201 | 197 |
SPPC | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 28 | $ 51 |
Regulatory Matters - SPPC - Nar
Regulatory Matters - SPPC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
SPPC | Public Utilities Commission, Nevada | Energy Efficiency Rate Case | ||
Public Utilities, General Disclosures [Line Items] | ||
Customer refund liability | $ 1 | $ 2 |
Regulatory Matters - EEGH - Reg
Regulatory Matters - EEGH - Regulatory Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 3,963 | $ 3,440 |
Regulatory assets, current | 544 | 283 |
Regulatory assets, noncurrent | 3,419 | 3,157 |
Regulatory assets not earning a return on investment | 1,800 | 1,600 |
EEGH | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | 74 | 82 |
Regulatory assets, current | 6 | 8 |
Regulatory assets, noncurrent | 68 | 74 |
Regulatory assets not earning a return on investment | $ 8 | 10 |
EEGH | Employee benefit plans | ||
Regulatory Assets [Line Items] | ||
Regulatory asset, amortization period | 14 years | |
Total regulatory assets | $ 62 | 70 |
EEGH | Other | ||
Regulatory Assets [Line Items] | ||
Total regulatory assets | $ 12 | $ 12 |
Regulatory Matters - EEGH - R_2
Regulatory Matters - EEGH - Regulatory Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 7,214 | $ 7,475 |
Regulatory liabilities | 254 | 254 |
Regulatory liabilities, noncurrent | 6,960 | 7,221 |
Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 3,185 | 3,600 |
Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 243 | 187 |
Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 26 years | |
Total regulatory liabilities | $ 2,424 | 2,435 |
EEGH | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 685 | 709 |
Regulatory liabilities | 40 | 40 |
Regulatory liabilities, noncurrent | 645 | 669 |
EEGH | Deferred income taxes | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | 468 | 473 |
EEGH | Other postretirement benefit costs | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 116 | 115 |
EEGH | Cost of removal | ||
Regulatory Liabilities [Line Items] | ||
Regulatory liability, amortization period | 44 years | |
Total regulatory liabilities | $ 73 | 88 |
Regulatory liabilities, noncurrent | 73 | 88 |
EEGH | Other | ||
Regulatory Liabilities [Line Items] | ||
Total regulatory liabilities | $ 28 | $ 33 |
Regulatory Matters - EEGH - Oth
Regulatory Matters - EEGH - Other Regulatory Matters (Details) dekathermPerDay in Millions, $ in Millions | Aug. 01, 2020USD ($) | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jan. 31, 2020USD ($) | Dec. 31, 2014dekathermPerDay | Jun. 30, 2021USD ($) | Oct. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2021USD ($) |
Regulatory Liabilities [Line Items] | ||||||||||
Regulatory liabilities | $ 7,475 | $ 7,214 | ||||||||
Asset retirement obligations | ||||||||||
Regulatory Liabilities [Line Items] | ||||||||||
Regulatory liabilities | 305 | 345 | ||||||||
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 | Cancellation Of Sweden Valley Project | ||||||||||
Regulatory Liabilities [Line Items] | ||||||||||
Impairment of assets | 13 | |||||||||
Impairment of assets, after-tax | 10 | |||||||||
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 | 85.00% | |||||||||
EGTS | FERC | General Rate Case | Natural Gas, Gathering, Transportation, Marketing and Processing | ||||||||||
Regulatory Liabilities [Line Items] | ||||||||||
Requested rate increase (decrease), percentage | 60.00% | |||||||||
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 |
Investments and Restricted Ca_3
Investments and Restricted Cash and Cash Equivalents and Investments - BHE (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments: | |||
Total investments | $ 8,490 | $ 6,600 | |
Equity method investments: | |||
Equity method investments | 6,554 | 7,067 | |
Restricted cash and cash equivalents: | |||
Restricted cash and investments | 916 | 831 | |
Total investments and restricted cash and cash equivalents and investments | 15,960 | 14,498 | |
Reflected as: | |||
Other current assets | 172 | 178 | |
Noncurrent assets | 15,788 | 14,320 | |
Unrealized gains (losses) recognized on marketable securities held at the reporting date | 1,819 | 4,791 | $ (290) |
Net gains recognized on marketable securities sold during the period | 4 | 6 | 2 |
Gains (losses) on marketable securities, net | 1,823 | 4,797 | (288) |
Tax equity contributions | 0 | 2,736 | $ 1,619 |
Commitments due year one | 4,360 | ||
Quad Cities Station nuclear decommissioning trust funds | |||
Restricted cash and cash equivalents: | |||
Quad Cities Station nuclear decommissioning trust funds | 768 | 676 | |
Other restricted cash and cash equivalents | |||
Restricted cash and cash equivalents: | |||
Restricted cash and investments | 148 | 155 | |
BHE Renewables tax equity investments | |||
Equity method investments: | |||
Equity method investments | 4,931 | 5,626 | |
Reflected as: | |||
Commitments due year one | 356 | ||
Iroquois Gas Transmission System, L.P. | |||
Equity method investments: | |||
Equity method investments | $ 735 | 580 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% | ||
Electric Transmission Texas, LLC | |||
Equity method investments: | |||
Equity method investments | $ 595 | 594 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% | ||
JAX LNG, LLC | |||
Equity method investments: | |||
Equity method investments | $ 92 | 75 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% | ||
Bridger Coal Company | |||
Equity method investments: | |||
Equity method investments | $ 45 | 74 | |
Reflected as: | |||
Equity method investment, ownership percentage | 66.67% | ||
Other | |||
Equity method investments: | |||
Equity method investments | $ 156 | 118 | |
BYD Company Limited common stock | |||
Investments: | |||
BYD Company Limited common stock | 7,693 | 5,897 | |
Rabbi trusts | |||
Investments: | |||
Rabbi trusts | 492 | 440 | |
Other | |||
Investments: | |||
Other | $ 305 | $ 263 |
Investments and Restricted Ca_4
Investments and Restricted Cash and Cash Equivalents and Investments - MEC (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Total | $ 15,788 | $ 14,320 |
Quad Cities Station nuclear decommissioning trust funds | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Nuclear decommissioning trust | 768 | 676 |
MEC | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Rabbi trusts | 233 | 211 |
Other | 25 | 24 |
Total | $ 1,026 | $ 911 |
MEC | United States companies | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 56.00% | 56.00% |
MEC | US Government Corporations and Agencies Securities | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 30.00% | 30.00% |
MEC | Corporate obligations | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 12.00% | 11.00% |
MEC | Other | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Ownership percentage | 2.00% | 3.00% |
MEC | Quad Cities Station nuclear decommissioning trust funds | ||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||
Nuclear decommissioning trust | $ 768 | $ 676 |
Investments and Restricted Ca_5
Investments and Restricted Cash and Cash Equivalents and Investments - MidAmerican Funding (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 and Investments - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity method investments: | |||
Equity method investments | $ 6,554 | $ 7,067 | |
Restricted cash and cash equivalents: | |||
Restricted cash and investments | 916 | 831 | |
Total investments and restricted cash and cash equivalents and investments | 15,960 | 14,498 | |
Reflected as: | |||
Other current assets | 172 | 178 | |
Noncurrent assets | 15,788 | 14,320 | |
Equity method investments contributions | 212 | 2,724 | $ 1,617 |
EEGH | |||
Equity method investments: | |||
Equity method investments | 412 | 244 | |
Restricted cash and cash equivalents: | |||
Restricted cash and investments | 17 | 13 | |
Total investments and restricted cash and cash equivalents and investments | 429 | 257 | |
Reflected as: | |||
Other current assets | 17 | 13 | |
Noncurrent assets | 412 | 244 | |
Investment exceeded share of equity in net assets | 130 | ||
Equity method investments contributions | 154 | 2 | 4 |
Distributions received from investments | 44 | 77 | $ 74 |
EEGH | Investment funds | |||
Investments: | |||
Investment funds | 13 | 0 | |
EEGH | Customer deposits | |||
Restricted cash and cash equivalents: | |||
Restricted cash and investments | 17 | 13 | |
Iroquois Gas Transmission System, L.P. | |||
Equity method investments: | |||
Equity method investments | $ 735 | 580 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% | ||
Iroquois Gas Transmission System, L.P. | EEGH | |||
Equity method investments: | |||
Equity method investments | $ 399 | $ 244 | |
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% | ||
White River Hub, LLC | EEGH | |||
Reflected as: | |||
Equity method investment, ownership percentage | 50.00% |
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, 2021 | Dec. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281 | $ 11,030 |
Short-term debt | (2,009) | (2,286) |
Tax-exempt bond support and letters of credit | (589) | (590) |
Net credit facilities | 8,683 | 8,154 |
BHE | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 3,500 | 3,500 |
Short-term debt | 0 | 0 |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 3,500 | 3,500 |
PAC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,200 | 1,200 |
Short-term debt | 0 | (93) |
Tax-exempt bond support and letters of credit | (218) | (218) |
Net credit facilities | 982 | 889 |
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 | (339) | (45) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 311 | 605 |
Northern Powergrid | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 271 | 228 |
Short-term debt | (1) | (23) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | 270 | 205 |
Line of credit, amount drawn | 1 | 23 |
BHE Canada | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 851 | 923 |
Short-term debt | (245) | (225) |
Tax-exempt bond support and letters of credit | (1) | (2) |
Net credit facilities | 605 | 696 |
HomeServices | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 3,300 | 3,020 |
Short-term debt | (1,424) | (1,900) |
Tax-exempt bond support and letters of credit | 0 | 0 |
Net credit facilities | $ 1,876 | $ 1,120 |
Short-term Debt and Credit Fa_4
Short-term Debt and Credit Facilities - Narrative (Details) £ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2021USD ($)option | Dec. 31, 2021GBP (£) | Dec. 31, 2021CAD ($) | Dec. 31, 2020USD ($) | |
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 11,281,000,000 | $ 11,030,000,000 | ||
Short-term debt | 2,009,000,000 | 2,286,000,000 | ||
BHE | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 3,500,000,000 | 3,500,000,000 | ||
Short-term debt | 0 | 0 | ||
BHE Renewables | ||||
Line of Credit Facility [Line Items] | ||||
Letters of credit outstanding | 311,000,000 | 305,000,000 | ||
PAC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 1,200,000,000 | 1,200,000,000 | ||
Letters of credit outstanding | 19,000,000 | 11,000,000 | ||
Short-term debt | 0 | 93,000,000 | ||
MEC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 1,505,000,000 | 1,505,000,000 | ||
NPC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 400,000,000 | 400,000,000 | ||
Letters of credit outstanding | 15,000,000 | |||
Short-term debt | 180,000,000 | 0 | ||
SPPC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 250,000,000 | 250,000,000 | ||
Short-term debt | 159,000,000 | 45,000,000 | ||
Northern Powergrid | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 271,000,000 | 228,000,000 | ||
Line of credit, amount drawn | 1,000,000 | 23,000,000 | ||
Short-term debt | 1,000,000 | 23,000,000 | ||
HomeServices | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 3,300,000,000 | 3,020,000,000 | ||
Short-term debt | $ 1,424,000,000 | 1,900,000,000 | ||
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 | $ 105,000,000 | ||
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] | ||||
Debt to capitalization ratio | 0.65 | 0.65 | 0.65 | |
Weighted average interest rate | 0.86% | 0.86% | 0.86% | 0.90% |
Short-term debt | $ 339,000,000 | $ 45,000,000 | ||
Line of credit | SPPC | ||||
Line of Credit Facility [Line Items] | ||||
Weighted average interest rate | 0.86% | 0.86% | 0.86% | 0.90% |
Line of credit | AltaLink | ||||
Line of Credit Facility [Line Items] | ||||
Debt to capitalization ratio | 0.75 | 0.75 | 0.75 | |
Weighted average interest rate | 0.35% | 0.35% | 0.35% | 0.36% |
Short-term debt | $ 108,000,000 | $ 113,000,000 | ||
Line of credit | AltaLink Investments, L.P. | ||||
Line of Credit Facility [Line Items] | ||||
Debt to capitalization ratio | 0.8 | 0.8 | 0.8 | |
Weighted average interest rate | 1.46% | 1.46% | 1.46% | 1.47% |
Short-term debt | $ 137,000,000 | $ 112,000,000 | ||
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 | |||
Unsecured credit facility, $3.5 billion, expiring June 2024 | Line of credit | BHE | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 3,500,000,000 | |||
Unsecured Credit Facility, $1.5 Billion, Expiring June 2024 | Line of credit | MEC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 1,500,000,000 | |||
Unsecured credit facility, $900 million, expiring June 2022 | Line of credit | MEC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 900,000,000 | |||
Unsecured credit facility, $600 million, expiring August 2021 | Line of credit | MEC | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 600,000,000 | |||
Multicurrency revolving credit facility, expiring December 2024 | 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 2024 | 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 2024 | Revolving credit facility | Northern Powergrid | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | £ | £ 200 | |||
Number of extension options | option | 2 | |||
Extension period | 1 year | |||
Secured credit facility, C$500 million, expiring December 2026 | Line of credit | AltaLink | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 500 | |||
Secured credit facility, C$75 million, expiring December 2026 | Line of credit | AltaLink | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | 75 | |||
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 | |||
Revolving credit facility, C$200 million, expiring April 2022 | 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] | ||||
Weighted average interest rate | 0.95% | 0.95% | 0.95% | 1.15% |
Short-term debt | $ 250,000,000 | $ 100,000,000 | ||
Mortgage lines of credit, expiring February through September 2022 | Line of credit | HomeServices | ||||
Line of Credit Facility [Line Items] | ||||
Credit facilities | $ 2,600,000,000 | $ 2,400,000,000 | ||
Weighted average interest rate | 1.91% | 1.91% | 1.91% | 2.03% |
Short-term debt | $ 1,200,000,000 | $ 1,800,000,000 | ||
Line of credit | NPC | ||||
Line of Credit Facility [Line Items] | ||||
Weighted average interest rate | 0.86% | 0.86% | 0.86% | |
Short-term debt | $ 180,000,000 | 0 | ||
Line of credit | Unsecured credit facility, expiring June 2024 | 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, expiring June 2024 | Commercial paper | PAC | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit, amount drawn | $ 0 | $ 93,000,000 | ||
Weighted average interest rate | 0.16% | |||
Line of credit | Secured credit facility, $400 million, expiring June 2024 | 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 2024 | 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) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281,000,000 | $ 11,030,000,000 |
Short-term debt | (2,009,000,000) | (2,286,000,000) |
Tax-exempt bond support and letters of credit | (589,000,000) | (590,000,000) |
Net credit facilities | 8,683,000,000 | 8,154,000,000 |
PAC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 1,200,000,000 | 1,200,000,000 |
Short-term debt | 0 | (93,000,000) |
Tax-exempt bond support and letters of credit | (218,000,000) | (218,000,000) |
Net credit facilities | 982,000,000 | 889,000,000 |
Letters of credit outstanding | 19,000,000 | 11,000,000 |
PAC | Unsecured credit facility, expiring June 2024 | 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, expiring June 2024 | Commercial paper | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Line of credit, amount drawn | $ 0 | $ 93,000,000 |
Weighted average interest rate | 0.16% |
Short-term Debt and Credit Fa_6
Short-term Debt and Credit Facilities - MEC (Details) $ in Millions | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281 | $ 11,030 |
Tax-exempt bond support and letters of credit | (589) | (590) |
Net credit facilities | 8,683 | 8,154 |
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 |
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, $900 million, expiring June 2022 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 900 | |
MEC | Unsecured 364-day Credit Facility, $5 million, expiring June | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 5 | |
MEC | Unsecured credit facility, $600 million, expiring August 2021 | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 600 |
Short-term Debt and Credit Fa_7
Short-term Debt and Credit Facilities - MidAmerican Funding (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281,000,000 | $ 11,030,000,000 |
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, 2021 | Dec. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281 | $ 11,030 |
Short-term debt | (2,009) | (2,286) |
Net credit facilities | 8,683 | 8,154 |
NPC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 400 | 400 |
Short-term debt | (180) | 0 |
Net credit facilities | 220 | 400 |
Letters of credit outstanding | 15 | |
NPC | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Short-term debt | $ (180) | $ 0 |
Weighted average interest rate | 0.86% | |
NPC | Secured credit facility, $400 million, expiring June 2024 | 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, 2021 | Dec. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Credit facilities | $ 11,281 | $ 11,030 |
Short-term debt | (2,009) | (2,286) |
Net credit facilities | 8,683 | 8,154 |
SPPC | ||
Line of Credit Facility [Line Items] | ||
Credit facilities | 250 | 250 |
Short-term debt | (159) | (45) |
Net credit facilities | $ 91 | $ 205 |
SPPC | Line of credit | ||
Line of Credit Facility [Line Items] | ||
Weighted average interest rate | 0.86% | 0.90% |
SPPC | Secured credit facility, $250 million, expiring June 2024 | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
BHE Debt [Line Items] | |||
Par value | $ 49,746 | ||
Noncurrent senior debt | 13,003 | $ 12,997 | |
BHE junior subordinated debentures | 100 | 100 | |
Senior notes | BHE | |||
BHE Debt [Line Items] | |||
Par value | 13,101 | ||
Total BHE Senior Debt | 13,003 | 13,447 | |
Current senior debt | 0 | 450 | |
Noncurrent senior debt | $ 13,003 | 12,997 | |
Senior notes | BHE | 2.375% Senior Notes, due 2021 | |||
BHE Debt [Line Items] | |||
Stated rate | 2.375% | ||
Par value | $ 0 | ||
Total BHE Senior Debt | $ 0 | 448 | |
Senior notes | BHE | 2.80% Senior Notes, due 2023 | |||
BHE Debt [Line Items] | |||
Stated rate | 2.80% | ||
Par value | $ 400 | ||
Total BHE Senior Debt | $ 398 | 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 | $ 499 | 498 | |
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 | $ 1,246 | 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 | $ 260 | 257 | |
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 | $ 1,096 | 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 | 1,488 | 1,488 | |
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 | 5.00% | ||
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, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt, noncurrent | 35,394 | $ 34,930 |
NPC | ||
Debt Instrument [Line Items] | ||
Par value | 2,534 | |
Subsidiary debt | 2,510 | 2,507 |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | 36,319 |
Subsidiary debt, current | 1,265 | 1,389 |
Subsidiary debt, noncurrent | 35,394 | 34,930 |
Subsidiary debt | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 8,797 | |
Subsidiary debt | 8,730 | 8,612 |
Subsidiary debt | MidAmerican Funding LLC | ||
Debt Instrument [Line Items] | ||
Par value | 8,047 | |
Subsidiary debt | 7,946 | 7,431 |
Subsidiary debt | MidAmerican Funding | ||
Debt Instrument [Line Items] | ||
Par value | 8,047 | |
Subsidiary debt | MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Par value | 7,808 | |
Subsidiary debt | 7,721 | 7,210 |
Subsidiary debt | NV Energy | ||
Debt Instrument [Line Items] | ||
Par value | 3,701 | |
Subsidiary debt | 3,675 | 3,673 |
Subsidiary debt | SPPC | ||
Debt Instrument [Line Items] | ||
Par value | 1,167 | |
Subsidiary debt | 1,165 | 1,166 |
Subsidiary debt | Northern Powergrid | ||
Debt Instrument [Line Items] | ||
Par value | 3,321 | |
Subsidiary debt | 3,287 | 3,259 |
Subsidiary debt | BHE Pipeline Group | ||
Debt Instrument [Line Items] | ||
Par value | 5,534 | |
Subsidiary debt | 5,924 | 6,165 |
Subsidiary debt | BHE Transmission | ||
Debt Instrument [Line Items] | ||
Par value | 3,924 | |
Subsidiary debt | 3,906 | 3,877 |
Subsidiary debt | BHE Renewables | ||
Debt Instrument [Line Items] | ||
Par value | 3,073 | |
Subsidiary debt | 3,043 | 3,116 |
Subsidiary debt | HomeServices | ||
Debt Instrument [Line Items] | ||
Par value | 148 | |
Subsidiary debt | $ 148 | $ 186 |
Subsidiary Debt - PacifiCorp (D
Subsidiary Debt - PacifiCorp (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
PAC | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | $ 31,000 | |
2.95% to 8.53%, due through 2026 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
2.95% to 8.53%, due through 2026 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.53% | |
2.70% to 7.70%, due 2027 to 2031 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
2.70% to 7.70%, due 2027 to 2031 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
5.25% to 6.10%, due 2032 to 2036 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
5.25% to 6.10%, due 2032 to 2036 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.10% | |
5.75% to 6.35%, due 2037 to 2041 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
5.75% to 6.35%, due 2037 to 2041 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
4.10%, due 2042 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
2.90% to 4.15%, due 2049 to 2052 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
2.90% to 4.15%, due 2049 to 2052 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.15% | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
Subsidiary debt | PAC | ||
Debt Instrument [Line Items] | ||
Par value | 8,797 | |
Subsidiary debt | $ 8,730 | $ 8,612 |
Subsidiary debt | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Variable rate | 0.12% | 0.14% |
Subsidiary debt | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Variable rate | 0.13% | 0.16% |
Subsidiary debt | 2.95% to 8.53%, due through 2026 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,379 | |
Subsidiary debt | $ 1,378 | $ 2,245 |
Subsidiary debt | 2.95% to 8.53%, due through 2026 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.95% | |
Subsidiary debt | 2.95% to 8.53%, due through 2026 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 8.53% | |
Subsidiary debt | 2.70% to 7.70%, due 2027 to 2031 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 1,100 | |
Subsidiary debt | $ 1,094 | 1,094 |
Subsidiary debt | 2.70% to 7.70%, due 2027 to 2031 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.70% | |
Subsidiary debt | 2.70% to 7.70%, due 2027 to 2031 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.70% | |
Subsidiary debt | 5.25% to 6.10%, due 2032 to 2036 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 850 | |
Subsidiary debt | $ 845 | 845 |
Subsidiary debt | 5.25% to 6.10%, due 2032 to 2036 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.25% | |
Subsidiary debt | 5.25% to 6.10%, due 2032 to 2036 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.10% | |
Subsidiary debt | 5.75% to 6.35%, due 2037 to 2041 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 2,150 | |
Subsidiary debt | $ 2,137 | 2,137 |
Subsidiary debt | 5.75% to 6.35%, due 2037 to 2041 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
Subsidiary debt | 5.75% to 6.35%, due 2037 to 2041 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.35% | |
Subsidiary debt | 4.10%, due 2042 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 300 | |
Subsidiary debt | $ 297 | 297 |
Subsidiary debt | 4.10%, due 2042 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.10% | |
Subsidiary debt | 2.90% to 4.15%, due 2049 to 2052 | PAC | ||
Debt Instrument [Line Items] | ||
Par value | $ 2,800 | |
Subsidiary debt | $ 2,761 | 1,776 |
Subsidiary debt | 2.90% to 4.15%, due 2049 to 2052 | Minimum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.90% | |
Subsidiary debt | 2.90% to 4.15%, due 2049 to 2052 | Maximum | PAC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.15% | |
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, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
MidAmerican Funding LLC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 8,047 | |
Subsidiary debt | 7,946 | 7,431 |
MidAmerican Funding | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | $ 8,047 | |
MidAmerican Funding | Subsidiary debt | 6.927% Senior Bonds, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.927% | |
Par value | $ 239 | |
Subsidiary debt | 225 | 221 |
MidAmerican Energy | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | $ 22,000 | |
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 | $ 7,808 | |
Subsidiary debt | $ 7,721 | $ 7,210 |
MidAmerican Energy | Subsidiary debt | Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047 | ||
Debt Instrument [Line Items] | ||
Variable rate | 0.13% | 0.14% |
Par value | $ 370 | |
Subsidiary debt | $ 368 | $ 368 |
MidAmerican Energy | Subsidiary debt | 3.70%, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 250 | |
Subsidiary debt | $ 250 | 249 |
MidAmerican Energy | Subsidiary debt | 3.50%, due 2024 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.50% | |
Par value | $ 500 | |
Subsidiary debt | $ 501 | 501 |
MidAmerican Energy | Subsidiary debt | 3.10%, due 2027 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.10% | |
Par value | $ 375 | |
Subsidiary debt | 373 | 373 |
MidAmerican Energy | Subsidiary debt | 3.65%, due 2029 | ||
Debt Instrument [Line Items] | ||
Par value | 850 | |
Subsidiary debt | $ 860 | 862 |
MidAmerican Energy | Subsidiary debt | 4.80%, due 2043 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 346 | 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 | 445 |
MidAmerican Energy | Subsidiary debt | 3.95%, due 2047 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 475 | |
Subsidiary debt | $ 470 | 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 | 874 | 873 |
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 | 0 |
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, 3.35% to 7.95%, due 2036 to 2041 | ||
Debt Instrument [Line Items] | ||
Vendor financing, discount rate applied | 3.35% | 7.95% |
Par value | $ 38 | |
Subsidiary debt | 22 | $ 4 |
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, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
NV Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,701 | |
Subsidiary debt | 3,675 | 3,673 |
NPC | ||
Debt Instrument [Line Items] | ||
Par value | 2,534 | |
Subsidiary debt | 2,510 | 2,507 |
Eligible property subject to lien of mortgages | $ 9,400 | |
NPC | Subsidiary debt | 3.700% Series CC, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 500 | |
Subsidiary debt | $ 497 | 496 |
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 | $ 361 | 361 |
NPC | Subsidiary debt | 6.750% Series R, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | |
Par value | $ 349 | |
Subsidiary debt | $ 347 | 347 |
NPC | Subsidiary debt | 5.375% Series X, due 2040 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.375% | |
Par value | $ 250 | |
Subsidiary debt | $ 249 | 249 |
NPC | Subsidiary debt | 5.450% Series Y, due 2041 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.45% | |
Par value | $ 250 | |
Subsidiary debt | $ 246 | 244 |
NPC | Subsidiary debt | 3.125% Series EE, due 2050 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.125% | |
Par value | $ 300 | |
Subsidiary debt | $ 297 | 297 |
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 |
SPPC | ||
Debt Instrument [Line Items] | ||
Eligible property subject to lien of mortgages | 4,500 | |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,167 | |
Subsidiary debt | $ 1,165 | 1,166 |
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 | 256 |
SPPC | Subsidiary debt | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 30 | |
Subsidiary debt | $ 30 | 29 |
SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.00% | |
Par value | $ 60 | |
Subsidiary debt | $ 60 | 61 |
SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | |
Par value | $ 30 | |
Subsidiary debt | $ 30 | 30 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 25 | |
Subsidiary debt | $ 25 | 25 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 25 | |
Subsidiary debt | $ 25 | 25 |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 75 | |
Subsidiary debt | $ 75 | 74 |
SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 20 | |
Subsidiary debt | $ 20 | $ 20 |
Subsidiary Debt - Northern Powe
Subsidiary Debt - Northern Powergrid (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
Northern Powergrid | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,321 | |
Subsidiary debt | $ 3,287 | 3,259 |
Northern Powergrid | Subsidiary debt | 4.133% European Investment Bank loans, due 2022 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.133% | |
Par value | $ 204 | |
Subsidiary debt | $ 204 | 206 |
Northern Powergrid | Subsidiary debt | 7.25% Bonds, due 2022 | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.25% | |
Par value | $ 271 | |
Subsidiary debt | $ 269 | 277 |
Northern Powergrid | Subsidiary debt | 2.50% Bonds, due 2025 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.50% | |
Par value | $ 203 | |
Subsidiary debt | $ 202 | 203 |
Northern Powergrid | Subsidiary debt | 2.073% European Investment Bank loan, due 2025 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.073% | |
Par value | $ 67 | |
Subsidiary debt | $ 69 | 70 |
Northern Powergrid | Subsidiary debt | 2.564% European Investment Bank loans, due 2027 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.564% | |
Par value | $ 338 | |
Subsidiary debt | $ 337 | 340 |
Northern Powergrid | Subsidiary debt | 7.25% Bonds, due 2028 | ||
Debt Instrument [Line Items] | ||
Stated rate | 7.25% | |
Par value | $ 251 | |
Subsidiary debt | $ 254 | 257 |
Northern Powergrid | Subsidiary debt | 4.375% Bonds, due 2032 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.375% | |
Par value | $ 203 | |
Subsidiary debt | $ 200 | 202 |
Northern Powergrid | Subsidiary debt | 5.125% Bonds, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.125% | |
Par value | $ 271 | |
Subsidiary debt | $ 268 | 270 |
Northern Powergrid | Subsidiary debt | 5.125% Bonds, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.125% | |
Par value | $ 203 | |
Subsidiary debt | $ 201 | 203 |
Northern Powergrid | Subsidiary debt | 2.750% Bonds, due 2049 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.75% | |
Par value | $ 203 | |
Subsidiary debt | $ 200 | 202 |
Northern Powergrid | Subsidiary debt | 2.250% Bonds, due 2059 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.25% | |
Par value | $ 406 | |
Subsidiary debt | $ 398 | 402 |
Northern Powergrid | Subsidiary debt | 1.875% Bonds, due 2062 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.875% | |
Par value | $ 406 | |
Subsidiary debt | 398 | 403 |
Northern Powergrid | Subsidiary debt | Variable-rate loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Subsidiary debt | 0 | $ 183 |
Interest rate on derivatives | 89.00% | |
Variable rate | 2.03% | |
Basis spread on variable rate | 2.00% | |
Fixed interest rate | 3.07% | |
Effective interest rate | 2.96% | |
Northern Powergrid | Subsidiary debt | Variable-rate loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 0 | |
Subsidiary debt | 0 | $ 41 |
Variable rate | 2.02% | |
Basis spread on variable rate | 2.00% | |
Northern Powergrid | Subsidiary debt | Variable-rate loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 295 | |
Subsidiary debt | $ 287 | $ 0 |
Interest rate on derivatives | 80.00% | |
Variable rate | 1.73% | |
Basis spread on variable rate | 1.55% | |
Fixed interest rate | 2.45% | |
Effective interest rate | 2.30% |
Subsidiary Debt - BHE Pipeline
Subsidiary Debt - BHE Pipeline Group (Details) € in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Jun. 30, 2021USD ($) | |
Debt Instrument [Line Items] | ||||
Par value | $ 49,746 | |||
Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 36,545 | |||
Subsidiary debt | $ 36,319 | 36,659 | ||
BHE Pipeline Group | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 5,534 | |||
Subsidiary debt | 6,165 | 5,924 | ||
Eastern Energy Gas | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,934 | |||
Fair value adjustment, par value | 0 | |||
Total Eastern Energy Gas, net of fair value adjustment, par value | 3,934 | |||
Subsidiary debt | 4,425 | 3,906 | ||
Fair value adjustments | 493 | 430 | ||
Total Eastern Energy Gas, net of fair value adjustments | 4,918 | 4,336 | ||
Eastern Energy Gas | Subsidiary debt | Variable-rate Senior Notes, due 2021 | ||||
Debt Instrument [Line Items] | ||||
Par value | 0 | |||
Subsidiary debt | $ 500 | $ 0 | ||
Interest rate on derivatives | 100.00% | |||
Fixed interest rate | 3.46% | |||
Basis spread on variable rate | 0.60% | |||
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 | $ 249 | $ 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 | 596 | $ 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 | 448 | $ 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 | $ 284 | € 250 | ||
Subsidiary debt | $ 304 | $ 283 | ||
Interest rate on derivatives | 100.00% | 100.00% | ||
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 | 3.00% | 3.00% | ||
Par value | $ 174 | |||
Subsidiary debt | 594 | $ 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 | 395 | $ 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 | 493 | $ 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 | 297 | $ 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 | 3.60% Senior Notes, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 111 | |||
Subsidiary debt | 0 | $ 110 | ||
EGTS | Subsidiary debt | 3.00% Senior Notes, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.00% | 3.00% | ||
Par value | 426 | |||
Subsidiary debt | 0 | $ 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 | 0 | $ 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 | 0 | $ 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 | 0 | $ 271 | ||
Northern Natural Gas | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 1,600 | |||
Subsidiary debt | 1,247 | $ 1,588 | ||
Northern Natural Gas | Subsidiary debt | 4.25% Senior Notes, due 2021 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.25% | 4.25% | ||
Par value | $ 0 | |||
Subsidiary debt | 200 | $ 0 | ||
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 | 650 | $ 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 | $ 0 | $ 540 |
Subsidiary Debt - BHE Transmiss
Subsidiary Debt - BHE Transmission (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
Subsidiary debt | BHE Transmission | ||
Debt Instrument [Line Items] | ||
Par value | 3,924 | |
Subsidiary debt | 3,906 | 3,877 |
Subsidiary debt | AltaLink Investments, L.P. | ||
Debt Instrument [Line Items] | ||
Par value | 158 | |
Subsidiary debt | 158 | 157 |
Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Par value | 3,760 | |
Subsidiary debt | $ 3,742 | 3,713 |
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 | $ 158 | |
Subsidiary debt | $ 158 | 157 |
Series 2012-2 Notes, 2.978%, due 2022 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.978% | |
Par value | $ 218 | |
Subsidiary debt | $ 218 | 216 |
Series 2013-4 Notes, 3.668%, due 2023 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.668% | |
Par value | $ 396 | |
Subsidiary debt | $ 395 | 392 |
Series 2014-1 Notes, 3.399%, due 2024 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.399% | |
Par value | $ 277 | |
Subsidiary debt | $ 277 | 275 |
Series 2016-1 Notes, 2.747%, due 2026 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.747% | |
Par value | $ 277 | |
Subsidiary debt | $ 276 | 274 |
Series 2020-1 Notes, 1.509%, due 2030 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.509% | |
Par value | $ 178 | |
Subsidiary debt | $ 177 | 175 |
Series 2006-1 Notes, 5.249%, due 2036 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.249% | |
Par value | $ 119 | |
Subsidiary debt | $ 118 | 118 |
Series 2010-1 Notes, 5.381%, due 2040 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.381% | |
Par value | $ 99 | |
Subsidiary debt | $ 99 | 98 |
Series 2010-2 Notes, 4.872%, due 2040 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.872% | |
Par value | $ 119 | |
Subsidiary debt | $ 118 | 117 |
Series 2011-1 Notes, 4.462%, due 2041 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.462% | |
Par value | $ 218 | |
Subsidiary debt | $ 217 | 215 |
Series 2012-1 Notes, 3.990%, due 2042 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.99% | |
Par value | $ 415 | |
Subsidiary debt | $ 410 | 407 |
Series 2013-3 Notes, 4.922%, due 2043 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.922% | |
Par value | $ 277 | |
Subsidiary debt | $ 276 | 274 |
Series 2014-3 Notes, 4.054%, due 2044 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.054% | |
Par value | $ 233 | |
Subsidiary debt | $ 232 | 230 |
Series 2015-1 Notes, 4.090%, due 2045 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.09% | |
Par value | $ 277 | |
Subsidiary debt | $ 275 | 273 |
Series 2016-2 Notes, 3.717%, due 2046 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.717% | |
Par value | $ 356 | |
Subsidiary debt | $ 354 | 351 |
Series 2013-1 Notes, 4.446%, due 2053 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.446% | |
Par value | $ 198 | |
Subsidiary debt | $ 197 | 196 |
Series 2014-2 Notes, 4.274%, due 2064 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.274% | |
Par value | $ 103 | |
Subsidiary debt | $ 103 | 102 |
Construction Loan, 5.620%, due 2024 | Subsidiary debt | AltaLink | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.62% | |
Par value | $ 6 | |
Subsidiary debt | $ 6 | $ 7 |
Subsidiary Debt - BHE Renewable
Subsidiary Debt - BHE Renewables (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
BHE Renewables | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,073 | |
Subsidiary debt | $ 3,043 | $ 3,116 |
Interest rate on derivatives | 100.00% | |
BHE Renewables | Subsidiary debt | Minimum | ||
Debt Instrument [Line Items] | ||
Fixed interest rate | 3.21% | 3.21% |
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 | $ 62 | |
Subsidiary debt | $ 62 | $ 69 |
BHE Renewables | Subsidiary debt | Solar Star Funding Senior Notes, 3.950%, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 258 | |
Subsidiary debt | $ 256 | 269 |
BHE Renewables | Subsidiary debt | Solar Star Funding Senior Notes, 5.375%, due 2035 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.375% | |
Par value | $ 826 | |
Subsidiary debt | $ 819 | 853 |
BHE Renewables | Subsidiary debt | Grande Prairie Wind Senior Notes, 3.860%, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.86% | |
Par value | $ 299 | |
Subsidiary debt | $ 297 | 327 |
BHE Renewables | Subsidiary debt | Topaz Solar Farms Senior Notes, 5.750%, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 5.75% | |
Par value | $ 606 | |
Subsidiary debt | $ 600 | 631 |
BHE Renewables | Subsidiary debt | Topaz Solar Farms Senior Notes, 4.875%, due 2039 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.875% | |
Par value | $ 172 | |
Subsidiary debt | $ 170 | 180 |
BHE Renewables | Subsidiary debt | Alamo 6 Senior Notes, 4.170%, due 2042 | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.17% | |
Par value | $ 199 | |
Subsidiary debt | 197 | 205 |
BHE Renewables | Subsidiary debt | Other | ||
Debt Instrument [Line Items] | ||
Par value | 5 | |
Subsidiary debt | 5 | 8 |
BHE Renewables | Subsidiary debt | TX Jumbo Road Term Loan, due 2025 | ||
Debt Instrument [Line Items] | ||
Par value | 119 | |
Subsidiary debt | 117 | 138 |
BHE Renewables | Subsidiary debt | Marshall Wind Term Loan, due 2026 | ||
Debt Instrument [Line Items] | ||
Par value | 64 | |
Subsidiary debt | 63 | 69 |
BHE Renewables | Subsidiary debt | Flat Top Wind I Term Loan, due 2028(2) | ||
Debt Instrument [Line Items] | ||
Par value | 113 | |
Subsidiary debt | $ 113 | 0 |
Variable rate | 6.34% | |
BHE Renewables | Subsidiary debt | Pinyon Pines I and II Term Loans, due 2034 | ||
Debt Instrument [Line Items] | ||
Par value | $ 350 | |
Subsidiary debt | $ 344 | $ 367 |
Subsidiary Debt - HomeServices
Subsidiary Debt - HomeServices (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Subsidiary debt | 36,659 | $ 36,319 |
HomeServices | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 148 | |
Subsidiary debt | $ 148 | $ 186 |
HomeServices | Subsidiary debt | Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.95% | 1.147% |
Par value | $ 148 | |
Subsidiary debt | $ 148 | $ 186 |
Subsidiary Debt - Maturity Sche
Subsidiary Debt - Maturity Schedule (Details) $ in Millions | Dec. 31, 2021USD ($) |
Debt Instrument [Line Items] | |
2022 | $ 1,265 |
2023 | 3,225 |
2024 | 2,736 |
2025 | 2,540 |
2026 | 1,474 |
2027 and thereafter | 38,506 |
Total | 49,746 |
Subsidiary debt | |
Debt Instrument [Line Items] | |
Total | 36,545 |
PAC | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 155 |
2023 | 449 |
2024 | 592 |
2025 | 301 |
2026 | 100 |
2027 and thereafter | 7,200 |
Total | 8,797 |
MidAmerican Funding | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 0 |
2023 | 316 |
2024 | 537 |
2025 | 15 |
2026 | 2 |
2027 and thereafter | 7,177 |
Total | 8,047 |
NV Energy | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 0 |
2023 | 250 |
2024 | 0 |
2025 | 0 |
2026 | 400 |
2027 and thereafter | 3,051 |
Total | 3,701 |
Northern Powergrid | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 526 |
2023 | 56 |
2024 | 56 |
2025 | 318 |
2026 | 84 |
2027 and thereafter | 2,281 |
Total | 3,321 |
BHE Pipeline Group | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 0 |
2023 | 650 |
2024 | 1,050 |
2025 | 0 |
2026 | 284 |
2027 and thereafter | 3,550 |
Total | 5,534 |
BHE Transmission | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 377 |
2023 | 397 |
2024 | 282 |
2025 | 0 |
2026 | 277 |
2027 and thereafter | 2,591 |
Total | 3,924 |
BHE Renewables | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 199 |
2023 | 200 |
2024 | 210 |
2025 | 241 |
2026 | 218 |
2027 and thereafter | 2,005 |
Total | 3,073 |
HomeServices | Subsidiary debt | |
Debt Instrument [Line Items] | |
2022 | 8 |
2023 | 7 |
2024 | 9 |
2025 | 15 |
2026 | 109 |
2027 and thereafter | 0 |
Total | 148 |
BHE | Senior notes | |
Debt Instrument [Line Items] | |
2022 | 0 |
2023 | 900 |
2024 | 0 |
2025 | 1,650 |
2026 | 0 |
2027 and thereafter | 10,551 |
Total | 13,101 |
BHE | Junior subordinated debt | |
Debt Instrument [Line Items] | |
2022 | 0 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
2027 and thereafter | 100 |
Total | $ 100 |
Long-term Debt - PAC (Details)
Long-term Debt - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Nov. 30, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | |||
Par value | $ 49,746 | ||
Total long-term debt | 49,762 | $ 49,866 | |
Current portion of long-term debt | 1,265 | 1,839 | |
Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | 36,545 | ||
Subsidiary debt | 36,659 | 36,319 | |
PAC | |||
Debt Instrument [Line Items] | |||
Total long-term debt | 8,730 | 8,612 | |
Current portion of long-term debt | 155 | 420 | |
Long-term debt | 8,575 | 8,192 | |
Maximum amount of additional long-term debt approved by regulators | 2,000 | ||
Eligible property subject to lien of mortgages | 31,000 | ||
PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | 8,797 | ||
Subsidiary debt | $ 8,730 | $ 8,612 | |
2.95% to 8.53%, due through 2026 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 4.52% | 4.12% | |
2.95% to 8.53%, due through 2026 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 1,379 | ||
Subsidiary debt | $ 1,378 | $ 2,245 | |
2.70% to 7.70%, due 2027 to 2031 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 4.35% | 4.35% | |
2.70% to 7.70%, due 2027 to 2031 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 1,100 | ||
Subsidiary debt | $ 1,094 | $ 1,094 | |
5.25% to 6.10%, due 2032 to 2036 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 5.75% | 5.75% | |
5.25% to 6.10%, due 2032 to 2036 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 850 | ||
Subsidiary debt | $ 845 | $ 845 | |
5.75% to 6.35%, due 2037 to 2041 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 6.05% | 6.05% | |
5.75% to 6.35%, due 2037 to 2041 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 2,150 | ||
Subsidiary debt | $ 2,137 | $ 2,137 | |
4.10%, due 2042 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 4.10% | 4.10% | |
4.10%, due 2042 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 300 | ||
Subsidiary debt | $ 297 | $ 297 | |
2.90% to 4.15%, due 2049 to 2052 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 3.52% | 3.86% | |
2.90% to 4.15%, due 2049 to 2052 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Par value | $ 2,800 | ||
Subsidiary debt | $ 2,761 | $ 1,776 | |
Due 2025 | PAC | |||
Debt Instrument [Line Items] | |||
Average interest rate | 0.12% | 0.14% | |
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 | 0.13% | 0.15% | |
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 | 8,797 | ||
Total long-term debt | $ 8,730 | $ 8,612 | |
First Mortgage Bonds, 2.95%, Due February 2022 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.95% | ||
Debt redeemed | $ 450 | ||
Minimum | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Variable rate | 0.12% | 0.14% | |
Minimum | 2.95% to 8.53%, due through 2026 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.95% | ||
Minimum | 2.95% to 8.53%, due through 2026 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.95% | ||
Minimum | 2.70% to 7.70%, due 2027 to 2031 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.70% | ||
Minimum | 2.70% to 7.70%, due 2027 to 2031 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.70% | ||
Minimum | 5.25% to 6.10%, due 2032 to 2036 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 5.25% | ||
Minimum | 5.25% to 6.10%, due 2032 to 2036 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 5.25% | ||
Minimum | 5.75% to 6.35%, due 2037 to 2041 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 5.75% | ||
Minimum | 5.75% to 6.35%, due 2037 to 2041 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 5.75% | ||
Minimum | 4.10%, due 2042 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 4.10% | ||
Minimum | 4.10%, due 2042 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 4.10% | ||
Minimum | 2.90% to 4.15%, due 2049 to 2052 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.90% | ||
Minimum | 2.90% to 4.15%, due 2049 to 2052 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 2.90% | ||
Maximum | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Variable rate | 0.13% | 0.16% | |
Maximum | 2.95% to 8.53%, due through 2026 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 8.53% | ||
Maximum | 2.95% to 8.53%, due through 2026 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 8.53% | ||
Maximum | 2.70% to 7.70%, due 2027 to 2031 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 7.70% | ||
Maximum | 2.70% to 7.70%, due 2027 to 2031 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 7.70% | ||
Maximum | 5.25% to 6.10%, due 2032 to 2036 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 6.10% | ||
Maximum | 5.25% to 6.10%, due 2032 to 2036 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 6.10% | ||
Maximum | 5.75% to 6.35%, due 2037 to 2041 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 6.35% | ||
Maximum | 5.75% to 6.35%, due 2037 to 2041 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 6.35% | ||
Maximum | 2.90% to 4.15%, due 2049 to 2052 | PAC | |||
Debt Instrument [Line Items] | |||
Stated rate | 4.15% | ||
Maximum | 2.90% to 4.15%, due 2049 to 2052 | PAC | Subsidiary debt | |||
Debt Instrument [Line Items] | |||
Stated rate | 4.15% |
Long-term Debt - PAC - Maturity
Long-term Debt - PAC - Maturity Schedule (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
2022 | $ 1,265 | |
2023 | 3,225 | |
2024 | 2,736 | |
2025 | 2,540 | |
2026 | 1,474 | |
2027 and thereafter | 38,506 | |
Total | 49,746 | |
Total long-term debt | 49,762 | $ 49,866 |
PAC | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 8,730 | $ 8,612 |
PAC | Long-term Debt | ||
Debt Instrument [Line Items] | ||
2022 | 155 | |
2023 | 449 | |
2024 | 591 | |
2025 | 302 | |
2026 | 100 | |
2027 and thereafter | 7,200 | |
Total | 8,797 | |
Unamortized discount and debt issuance costs | (67) | |
Total long-term debt | $ 8,730 |
Long-term Debt - MEC (Details)
Long-term Debt - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Maturity Schedule | ||
2022 | 1,265 | |
2023 | 3,225 | |
2024 | 2,736 | |
2025 | 2,540 | |
2026 | 1,474 | |
2027 and thereafter | 38,506 | |
MidAmerican Energy | ||
Maturity Schedule | ||
Eligible property subject to lien of mortgages | 22,000 | |
MEC | ||
Debt Instrument [Line Items] | ||
Par value | 7,808 | |
Subsidiary debt | 7,721 | $ 7,210 |
Maturity Schedule | ||
2022 | 0 | |
2023 | 316 | |
2024 | 537 | |
2025 | 15 | |
2026 | 2 | |
2027 and thereafter | $ 6,938 | |
MEC | Committed common equity percentage to regulators | ||
Maturity Schedule | ||
Common equity to total capitalization percentage | 42.00% | |
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 | 39.00% | |
MEC | Common equity level to total capitalization | ||
Maturity Schedule | ||
Common equity level to total capitalization | 53.00% | |
MEC | Dividend restriction for common equity commitment | ||
Maturity Schedule | ||
Amount available for dividend distribution | $ 3,300 | |
3.70%, due 2023 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.70% | |
Par value | $ 250 | |
Subsidiary debt | $ 250 | 249 |
3.50%, due 2024 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.50% | |
Par value | $ 500 | |
Subsidiary debt | $ 501 | 501 |
3.10%, due 2027 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.10% | |
Par value | $ 375 | |
Subsidiary debt | $ 373 | 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 | $ 860 | 862 |
4.80%, due 2043 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 4.80% | |
Par value | $ 350 | |
Subsidiary debt | $ 346 | 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 | 445 |
3.95%, due 2047 | MEC | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.95% | |
Par value | $ 475 | |
Subsidiary debt | $ 470 | 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 | $ 874 | 873 |
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 | 0 |
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, 3.35% to 7.95%, due 2036 to 2041 | MEC | ||
Debt Instrument [Line Items] | ||
Vendor financing, discount rate applied | 7.95% | 3.35% |
Par value | $ 38 | |
Subsidiary debt | $ 22 | $ 4 |
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%): | MEC | ||
Debt Instrument [Line Items] | ||
Variable rate | 0.13% | 0.14% |
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 | 29 | 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, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
BHE restricted net assets | 18,300 | |
MidAmerican Funding, LLC | ||
Debt Instrument [Line Items] | ||
BHE restricted net assets | 5,600 | |
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 | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||||
Par value | $ 49,746 | |||
Total long-term debt | 49,762 | $ 49,866 | ||
2027 and thereafter | 38,506 | |||
Credit facilities | 11,281 | 11,030 | ||
Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 36,545 | |||
NPC | ||||
Debt Instrument [Line Items] | ||||
Par value | 2,534 | |||
Total long-term debt | 2,499 | 2,496 | ||
Credit facilities | 400 | 400 | ||
Proceeds from long-term debt | 0 | $ 718 | $ 495 | |
NPC | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Total long-term debt | 2,499 | |||
2027 and thereafter | 2,534 | |||
Unamortized discount and debt issuance costs | (35) | |||
NPC | Line of credit | NPC Secured Delayed Draw Term Loan Facility, due 2024 | Subsequent event | ||||
Debt Instrument [Line Items] | ||||
Credit facilities | $ 300 | |||
Proceeds from long-term debt | $ 200 | |||
Interest rate | 0.55% | |||
NV Energy | Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,701 | |||
2027 and thereafter | 3,051 | |||
NV Energy | NPC | 3.700% Series CC, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Par value | 500 | |||
NV Energy | NPC | 2.400% Series DD, due 2030 | ||||
Debt Instrument [Line Items] | ||||
Par value | 425 | |||
NV Energy | NPC | 6.650% Series N, due 2036 | ||||
Debt Instrument [Line Items] | ||||
Par value | 367 | |||
NV Energy | NPC | 6.750% Series R, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Par value | 349 | |||
NV Energy | NPC | 5.375% Series X, due 2040 | ||||
Debt Instrument [Line Items] | ||||
Par value | 250 | |||
NV Energy | NPC | 5.450% Series Y, due 2041 | ||||
Debt Instrument [Line Items] | ||||
Par value | 250 | |||
NV Energy | NPC | 3.125% Series EE, due 2050 | ||||
Debt Instrument [Line Items] | ||||
Par value | 300 | |||
NV Energy | NPC | 1.875% Pollution Control Bonds Series 2017A, due 2032 | ||||
Debt Instrument [Line Items] | ||||
Par value | 40 | |||
NV Energy | NPC | 1.650% Pollution Control Bonds Series 2017, due 2036 | ||||
Debt Instrument [Line Items] | ||||
Par value | 40 | |||
NV Energy | NPC | 1.650% Pollution Control Bonds Series 2017B, due 2039 | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 13 | |||
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 | $ 496 | ||
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 | $ 359 | $ 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 | $ 237 | ||
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 | $ 297 | $ 297 | ||
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 | ||
NPC | ||||
Debt Instrument [Line Items] | ||||
Par value | 2,534 | |||
Eligible property subject to lien of mortgages | $ 9,400 | |||
NPC | Subsidiary debt | 3.700% Series CC, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.70% | |||
Par value | $ 500 | |||
NPC | Subsidiary debt | 2.400% Series DD, due 2030 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.40% | |||
Par value | $ 425 | |||
NPC | Subsidiary debt | 6.650% Series N, due 2036 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 6.65% | |||
Par value | $ 367 | |||
NPC | Subsidiary debt | 6.750% Series R, due 2037 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 6.75% | |||
Par value | $ 349 | |||
NPC | Subsidiary debt | 5.375% Series X, due 2040 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 5.375% | |||
Par value | $ 250 | |||
NPC | Subsidiary debt | 5.450% Series Y, due 2041 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 5.45% | |||
Par value | $ 250 | |||
NPC | Subsidiary debt | 3.125% Series EE, due 2050 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.125% | |||
Par value | $ 300 | |||
NPC | Subsidiary debt | 1.875% Pollution Control Bonds Series 2017A, due 2032 | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 1.875% | |||
Par value | $ 40 |
Long-term Debt - SPPC (Details)
Long-term Debt - SPPC (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Par value | $ 49,746 | |
Long-term debt | 49,762 | $ 49,866 |
Maturity Schedule | ||
2023 | 3,225 | |
2026 | 1,474 | |
2027 and thereafter | 38,506 | |
Total | 49,746 | |
Total long-term debt | 49,762 | 49,866 |
Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 36,545 | |
Maturity Schedule | ||
Total | 36,545 | |
SPPC | ||
Debt Instrument [Line Items] | ||
Par value | 1,167 | |
Long-term debt | 1,164 | 1,164 |
Long-term debt | 1,164 | 1,164 |
Maturity Schedule | ||
Total | 1,167 | |
Total long-term debt | 1,164 | $ 1,164 |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Long-term debt | 1,164 | |
Maturity Schedule | ||
2023 | 250 | |
2026 | 400 | |
2027 and thereafter | 517 | |
Unamortized discount and debt issuance costs | (3) | |
Total long-term debt | 1,164 | |
NV Energy | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 3,701 | |
Maturity Schedule | ||
2023 | 250 | |
2026 | 400 | |
2027 and thereafter | 3,051 | |
Total | 3,701 | |
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 | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Par value | 30 | |
Maturity Schedule | ||
Total | 30 | |
NV Energy | SPPC | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 60 | |
Maturity Schedule | ||
Total | 60 | |
NV Energy | SPPC | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 30 | |
Maturity Schedule | ||
Total | 30 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 25 | |
Maturity Schedule | ||
Total | 25 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 25 | |
Maturity Schedule | ||
Total | 25 | |
NV Energy | SPPC | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 75 | |
Maturity Schedule | ||
Total | 75 | |
NV Energy | SPPC | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Par value | 20 | |
Maturity Schedule | ||
Total | 20 | |
NV Energy | SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,167 | |
Maturity Schedule | ||
Total | $ 1,167 | |
NV Energy | SPPC | Subsidiary debt | 3.375% Series T, due 2023 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.375% | 3.375% |
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% |
Long-term debt | $ 397 | $ 396 |
Maturity Schedule | ||
Total long-term debt | $ 397 | $ 396 |
NV Energy | SPPC | Subsidiary debt | 6.750% Series P, due 2037 | ||
Debt Instrument [Line Items] | ||
Stated rate | 6.75% | 6.75% |
Long-term debt | $ 253 | $ 255 |
Maturity Schedule | ||
Total long-term debt | $ 253 | $ 255 |
NV Energy | SPPC | Subsidiary debt | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | 1.85% |
Long-term debt | $ 30 | $ 29 |
Maturity Schedule | ||
Total long-term debt | $ 30 | $ 29 |
NV Energy | SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.00% | 3.00% |
Long-term debt | $ 60 | $ 61 |
Maturity Schedule | ||
Total long-term debt | $ 60 | $ 61 |
NV Energy | SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | 0.625% |
Long-term debt | $ 30 | $ 30 |
Maturity Schedule | ||
Total long-term debt | $ 30 | $ 30 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Long-term debt | $ 25 | $ 25 |
Maturity Schedule | ||
Total long-term debt | $ 25 | $ 25 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Long-term debt | $ 25 | $ 25 |
Maturity Schedule | ||
Total long-term debt | $ 25 | $ 25 |
NV Energy | SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | 2.05% |
Long-term debt | $ 75 | $ 74 |
Maturity Schedule | ||
Total long-term debt | $ 75 | $ 74 |
NV Energy | SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | 1.85% |
Long-term debt | $ 20 | $ 20 |
Maturity Schedule | ||
Total long-term debt | 20 | $ 20 |
SPPC | ||
Maturity Schedule | ||
Eligible property subject to lien of mortgages | 4,500 | |
SPPC | Subsidiary debt | ||
Debt Instrument [Line Items] | ||
Par value | 1,167 | |
Maturity Schedule | ||
Total | $ 1,167 | |
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 | 1.850% Pollution Control Series 2016B, due 2029 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 30 | |
Maturity Schedule | ||
Total | $ 30 | |
SPPC | Subsidiary debt | 3.000% Gas and Water Series 2016B, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 3.00% | |
Par value | $ 60 | |
Maturity Schedule | ||
Total | $ 60 | |
SPPC | Subsidiary debt | 0.625% Water Facilities Series 2016C, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 0.625% | |
Par value | $ 30 | |
Maturity Schedule | ||
Total | $ 30 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016D, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 25 | |
Maturity Schedule | ||
Total | $ 25 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016E, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 25 | |
Maturity Schedule | ||
Total | $ 25 | |
SPPC | Subsidiary debt | 2.050% Water Facilities Series 2016F, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 2.05% | |
Par value | $ 75 | |
Maturity Schedule | ||
Total | $ 75 | |
SPPC | Subsidiary debt | 1.850% Water Facilities Series 2016G, due 2036 | ||
Debt Instrument [Line Items] | ||
Stated rate | 1.85% | |
Par value | $ 20 | |
Maturity Schedule | ||
Total | $ 20 |
Long-term Debt - EEGH (Details)
Long-term Debt - EEGH (Details) € in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Jun. 30, 2021USD ($) | |
Debt Instrument [Line Items] | ||||
Par value | $ 49,746 | |||
Total long-term debt | $ 49,866 | 49,762 | ||
Current portion of long-term debt | $ 1,839 | 1,265 | ||
Subsidiary debt | ||||
Debt Instrument [Line Items] | ||||
Par value | 36,545 | |||
Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,934 | |||
Variable-rate Senior Notes, due 2021 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 0 | |||
Interest rate on derivatives | 100.00% | |||
Fixed interest rate | 3.46% | |||
Basis spread on variable rate | 0.60% | |||
2.875% Senior Notes, due 2023 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.875% | 2.875% | ||
Par value | $ 250 | |||
3.55% Senior Notes, due 2023 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.55% | 3.55% | ||
Par value | $ 400 | |||
2.50% Senior Notes, due 2024 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 2.50% | 2.50% | ||
Par value | $ 600 | |||
3.60% Senior Notes, due 2024 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 339 | |||
3.32% Senior Notes, due 2026 (€250) | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.32% | 3.32% | ||
Par value | $ 284 | € 250 | ||
Interest rate on derivatives | 100.00% | 100.00% | ||
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] | ||||
Stated rate | 3.00% | 3.00% | ||
Par value | $ 174 | |||
3.80% Senior Notes, due 2031 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.80% | 3.80% | ||
Par value | $ 150 | |||
4.80% Senior Notes, due 2043 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.80% | 4.80% | ||
Par value | $ 54 | |||
4.60% Senior Notes, due 2044 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.60% | 4.60% | ||
Par value | $ 56 | |||
3.90% Senior Notes, due 2049 | Subsidiary debt | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 27 | |||
3.60% Senior Notes, due 2024 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.60% | 3.60% | ||
Par value | $ 111 | |||
3.00% Senior Notes, due 2029 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.00% | 3.00% | ||
Par value | 426 | |||
4.80% Senior Notes, due 2043 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.80% | 4.80% | ||
Par value | 346 | |||
4.60% Senior Notes, due 2044 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 4.60% | 4.60% | ||
Par value | 444 | |||
3.90% Senior Notes, due 2049 | Subsidiary debt | EGTS | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.90% | 3.90% | ||
Par value | $ 273 | |||
EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | $ 3,934 | |||
Total long-term debt | 4,425 | 3,906 | ||
Current portion of long-term debt | 500 | 0 | ||
Long-term debt | 3,925 | 3,906 | ||
EEGH | EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | 3,934 | |||
Total long-term debt | 4,425 | 3,906 | ||
EEGH | Variable-rate Senior Notes, due 2021 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Par value | 0 | |||
Total long-term debt | 500 | $ 0 | ||
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 | 249 | $ 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 | 596 | $ 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 | 448 | $ 338 | ||
EEGH | 3.32% Senior Notes, due 2026 (€250) | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.32% | 3.32% | ||
Par value | $ 284 | € 250 | ||
Total long-term debt | 304 | $ 283 | ||
EEGH | 3.00% Senior Notes, due 2029 | EEGH | ||||
Debt Instrument [Line Items] | ||||
Stated rate | 3.00% | 3.00% | ||
Par value | $ 174 | |||
Total long-term debt | 594 | $ 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 | 395 | $ 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 | 493 | $ 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 | $ 297 | $ 26 |
Long-term Debt - EEGH - Maturit
Long-term Debt - EEGH - Maturity Schedule (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
2022 | $ 1,265 | |
2023 | 3,225 | |
2024 | 2,736 | |
2025 | 2,540 | |
2026 | 1,474 | |
2027 and thereafter | 38,506 | |
Total | 49,746 | |
Total long-term debt | 49,762 | $ 49,866 |
EEGH | ||
Debt Instrument [Line Items] | ||
2022 | 0 | |
2023 | 650 | |
2024 | 1,050 | |
2025 | 0 | |
2026 | 284 | |
2027 and thereafter | 1,950 | |
Total | 3,934 | |
Unamortized discount and debt issuance costs | (28) | |
Total long-term debt | $ 3,906 | $ 4,425 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Long-term income tax receivable | $ 744 | $ 658 | ||
Operating loss carryforwards | 10,210 | |||
Goodwill | $ 11,650 | 11,506 | $ 9,722 | |
Years eligible for renewable energy production tax credit | 10 years | |||
Production tax credits | $ 1,400 | $ 1,200 | $ 800 | |
Change in tax status | (2.00%) | 0.00% | 0.00% | |
Unrecognized tax benefits | $ 100 | $ 141 | ||
Natural Gas Transmission and Storage | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Goodwill | $ 1,741 | |||
Natural Gas Transmission and Storage | Goodwill | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Useful life, intangible asset | 15 years | |||
United Kingdom | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in enacted tax rate | $ 105 | 35 | ||
United Kingdom | Corporate tax rate, effective April 1, 2020 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 19.00% | |||
United Kingdom | Corporate tax rate, effective April 2023 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 25.00% | |||
United Kingdom | Corporate tax rate, effective April 1, 2020 further reduction | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Change in tax status | 17.00% | |||
Domestic Tax Authority and State and Local Jurisdiction | Natural Gas Transmission and Storage | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Goodwill | $ 900 | |||
State | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Operating loss carryforwards | $ 9,013 | |||
State | Iowa Senate File 2417 | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Operating loss carryforwards | 100 | 138 | ||
Parent Company | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Income tax receivable (payable), related parties current | 324 | 13 | ||
Long-term income tax receivable | $ 744 | $ 658 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ (1,701) | $ (1,537) | $ (956) |
State | (177) | (121) | (13) |
Foreign | 100 | 86 | 81 |
Total current | (1,778) | (1,572) | (888) |
Deferred: | |||
Federal | 1,037 | 1,438 | 431 |
State | (476) | 424 | (127) |
Foreign | 89 | 21 | (8) |
Total deferred | 650 | 1,883 | 296 |
Investment tax credits | (4) | (3) | (6) |
Total | $ (1,132) | $ 308 | $ (598) |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Income tax credits | (27.00%) | (16.00%) | (32.00%) |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
State income tax, net of federal income tax benefit | (10.00%) | 3.00% | (5.00%) |
Change in tax status | (2.00%) | 0.00% | 0.00% |
Income tax effect of foreign income | 1.00% | 0.00% | (2.00%) |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
Income Taxes - Components of Ne
Income Taxes - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
Federal, state and foreign carryforwards | 820 | 677 |
AROs | 304 | 304 |
Other | 686 | 777 |
Total deferred income tax assets | 3,159 | 3,178 |
Valuation allowances | (164) | (204) |
Total deferred income tax assets, net | 2,995 | 2,974 |
Deferred income tax liabilities: | ||
Property-related items | (11,814) | (10,816) |
Investments | (2,877) | (2,821) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | $ (12,938) | $ (11,775) |
Income Taxes - Summary of Opera
Income Taxes - Summary of Operating Loss Carryforwards (Details) $ in Millions | Dec. 31, 2021USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 10,210 |
Deferred income taxes on net operating loss carryforwards | 776 |
Tax credits | 44 |
Federal | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 297 |
Deferred income taxes on net operating loss carryforwards | 63 |
Tax credits | 15 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 9,013 |
Deferred income taxes on net operating loss carryforwards | 506 |
Tax credits | 29 |
Foreign | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 900 |
Deferred income taxes on net operating loss carryforwards | 207 |
Tax credits | $ 0 |
Income Taxes -Reconciliation of
Income Taxes -Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 153 | $ 145 |
Additions based on tax positions related to the current year | 24 | 19 |
Additions for tax positions of prior years | 13 | 6 |
Reductions based on tax positions related to the current year | (19) | (14) |
Reductions for tax positions of prior years | (83) | (1) |
Statute of limitations | 0 | (4) |
Settlements | (1) | |
Settlements | 1 | |
Interest and penalties | 10 | 1 |
Ending balance | $ 97 | $ 153 |
Income Taxes - PAC - Components
Income Taxes - PAC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ (1,701) | $ (1,537) | $ (956) |
State | (177) | (121) | (13) |
Total current | (1,778) | (1,572) | (888) |
Deferred: | |||
Federal | 1,037 | 1,438 | 431 |
State | (476) | 424 | (127) |
Total deferred | 650 | 1,883 | 296 |
Investment tax credits | (4) | (3) | (6) |
Total | (1,132) | 308 | (598) |
PAC | |||
Current: | |||
Federal | (150) | 19 | 158 |
State | 7 | 30 | 34 |
Total current | (143) | 49 | 192 |
Deferred: | |||
Federal | 26 | (124) | (132) |
State | 40 | 1 | 4 |
Total deferred | 66 | (123) | (128) |
Investment tax credits | (2) | (1) | (3) |
Total | $ (79) | $ (75) | $ 61 |
Income Taxes - PAC - Reconcilia
Income Taxes - PAC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
State income tax, net of federal income tax benefit | (10.00%) | 3.00% | (5.00%) |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
Income tax credits | (27.00%) | (16.00%) | (32.00%) |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
PAC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
State income tax, net of federal income tax benefit | 3.00% | 3.00% | 3.00% |
Effects of ratemaking | (14.00%) | (22.00%) | (13.00%) |
Income tax credits | (20.00%) | (13.00%) | (3.00%) |
Other, net | 0.00% | 0.00% | (1.00%) |
Effective income tax rate | (10.00%) | (11.00%) | 7.00% |
Income Taxes - PAC - Narrative
Income Taxes - PAC - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
PAC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Years eligible for renewable energy production tax credit | 10 years | ||
Effective income tax reconciliation, amortization of excess deferred income taxes | $ 112 | $ 132 | $ 93 |
PAC | State | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Effective income tax reconciliation, amortization of excess deferred income taxes | $ 4 | $ 118 | $ 91 |
Income Taxes - PAC - Component
Income Taxes - PAC - Component of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
AROs | 304 | 304 |
Other | 686 | 777 |
Total deferred income tax assets, net | 2,995 | 2,974 |
Deferred income tax liabilities: | ||
Property-related items | (11,814) | (10,816) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
PAC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 682 | 700 |
Employee benefits | 68 | 93 |
State carryforwards | 73 | 73 |
Loss contingencies | 63 | 63 |
AROs | 73 | 65 |
Other | 73 | 83 |
Total deferred income tax assets, net | 1,032 | 1,077 |
Deferred income tax liabilities: | ||
Property-related items | (3,468) | (3,311) |
Regulatory assets | (332) | (343) |
Other | (79) | (50) |
Total deferred income tax liabilities | (3,879) | (3,704) |
Net deferred income tax liability | $ (2,847) | $ (2,627) |
Income Taxes - PAC - Summary of
Income Taxes - PAC - Summary of Operating Loss Carryforwards (Details) $ in Millions | Dec. 31, 2021USD ($) |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 10,210 |
Deferred income taxes on net operating loss carryforwards | 776 |
Tax credits | 44 |
State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 9,013 |
Deferred income taxes on net operating loss carryforwards | 506 |
Tax credits | 29 |
PAC | State | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | 1,138 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ (1,701) | $ (1,537) | $ (956) |
State | (177) | (121) | (13) |
Total current | (1,778) | (1,572) | (888) |
Deferred: | |||
Federal | 1,037 | 1,438 | 431 |
State | (476) | 424 | (127) |
Total deferred | 650 | 1,883 | 296 |
Investment tax credits | (4) | (3) | (6) |
Total | (1,132) | 308 | (598) |
MEC | |||
Current: | |||
Federal | (736) | (684) | (478) |
State | (92) | (94) | (47) |
Total current | (828) | (778) | (525) |
Deferred: | |||
Federal | 189 | 201 | 166 |
State | (35) | 8 | (11) |
Total deferred | 154 | 209 | 155 |
Investment tax credits | (1) | (1) | (1) |
Total | $ (675) | $ (570) | $ (371) |
Income Taxes - MEC - Reconcilia
Income Taxes - MEC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Income tax credits | (27.00%) | (16.00%) | (32.00%) |
State income tax, net of federal income tax benefit | (10.00%) | 3.00% | (5.00%) |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
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 | 21.00% | 21.00% | 21.00% |
Income tax credits | (262.00%) | (199.00%) | (90.00%) |
State income tax, net of federal income tax benefit | (46.00%) | (27.00%) | (11.00%) |
Effects of ratemaking | (20.00%) | (17.00%) | (8.00%) |
Other, net | (1.00%) | (1.00%) | 0.00% |
Effective income tax rate | (308.00%) | (223.00%) | (88.00%) |
Years eligible for renewable energy production tax credit | 10 years |
Income Taxes - MEC - Componen_2
Income Taxes - MEC - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
AROs | 304 | 304 |
Other | 686 | 777 |
Total deferred income tax assets | 3,159 | 3,178 |
Valuation allowances | (164) | (204) |
Total deferred income tax assets, net | 2,995 | 2,974 |
Deferred income tax liabilities: | ||
Property-related items | (11,814) | (10,816) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
Operating loss carryforwards | 10,210 | |
State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | 9,013 | |
MEC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 240 | 288 |
AROs | 220 | 229 |
State carryforwards | 55 | 52 |
Employee benefits | 26 | 42 |
Other | 30 | 40 |
Total deferred income tax assets | 571 | 651 |
Valuation allowances | (1) | (25) |
Total deferred income tax assets, net | 570 | 626 |
Deferred income tax liabilities: | ||
Property-related items | (3,843) | (3,583) |
Regulatory assets | (112) | (97) |
Other | (4) | 0 |
Total deferred income tax liabilities | (3,959) | (3,680) |
Net deferred income tax liability | (3,389) | $ (3,054) |
MEC | State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | $ 823 |
Income Taxes - MEC - Net Unreco
Income Taxes - MEC - Net Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 153 | $ 145 |
Additions based on tax positions related to the current year | 24 | 19 |
Reductions based on tax positions related to the current year | (19) | (14) |
Reductions for tax positions of prior years | (83) | (1) |
Ending balance | 97 | 153 |
Unrecognized tax benefits | 100 | 141 |
MEC | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | 8 | 8 |
Additions based on tax positions related to the current year | 16 | 4 |
Reductions based on tax positions related to the current year | (11) | (3) |
Reductions for tax positions of prior years | 0 | (1) |
Ending balance | 13 | $ 8 |
Unrecognized tax benefits | $ 33 |
Income Taxes - MidAmerican Fund
Income Taxes - MidAmerican Funding - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ (1,701) | $ (1,537) | $ (956) |
State | (177) | (121) | (13) |
Total current | (1,778) | (1,572) | (888) |
Deferred: | |||
Federal | 1,037 | 1,438 | 431 |
State | (476) | 424 | (127) |
Total deferred | 650 | 1,883 | 296 |
Investment tax credits | (4) | (3) | (6) |
Total | (1,132) | 308 | (598) |
MidAmerican Funding, LLC | |||
Current: | |||
Federal | (739) | (689) | (480) |
State | (94) | (96) | (49) |
Total current | (833) | (785) | (529) |
Deferred: | |||
Federal | 189 | 204 | 164 |
State | (35) | 8 | (11) |
Total deferred | 154 | 212 | 153 |
Investment tax credits | (1) | (1) | (1) |
Total | $ (680) | $ (574) | $ (377) |
Income Taxes - MidAmerican Fu_2
Income Taxes - MidAmerican Funding - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Income tax credits | (27.00%) | (16.00%) | (32.00%) |
State income tax, net of federal income tax benefit | (10.00%) | 3.00% | (5.00%) |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
Years eligible for renewable energy production tax credit | 10 years | ||
MidAmerican Funding, LLC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Income tax credits | (283.00%) | (209.00%) | (94.00%) |
State income tax, net of federal income tax benefit | (50.00%) | (29.00%) | (12.00%) |
Effects of ratemaking | (21.00%) | (17.00%) | (8.00%) |
Other, net | (2.00%) | (1.00%) | 0.00% |
Effective income tax rate | (335.00%) | (235.00%) | (93.00%) |
Years eligible for renewable energy production tax credit | 10 years |
Income Taxes - MidAmerican Fu_3
Income Taxes - MidAmerican Funding - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
AROs | 304 | 304 |
Other | 686 | 777 |
Total deferred income tax assets | 3,159 | 3,178 |
Valuation allowances | (164) | (204) |
Total deferred income tax assets, net | 2,995 | 2,974 |
Deferred income tax liabilities: | ||
Property-related items | (11,814) | (10,816) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
Operating loss carryforwards | 10,210 | |
MidAmerican Funding, LLC | ||
Deferred income tax assets: | ||
Regulatory liabilities | 240 | 288 |
AROs | 220 | 229 |
State carryforwards | 55 | 52 |
Employee benefits | 26 | 43 |
Other | 30 | 40 |
Total deferred income tax assets | 571 | 652 |
Valuation allowances | (1) | (25) |
Total deferred income tax assets, net | 570 | 627 |
Deferred income tax liabilities: | ||
Property-related items | (3,843) | (3,583) |
Regulatory assets | (112) | (97) |
Other | (2) | 1 |
Total deferred income tax liabilities | (3,957) | (3,679) |
Net deferred income tax liability | (3,387) | $ (3,052) |
State | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | 9,013 | |
State | MidAmerican Funding, LLC | ||
Deferred income tax liabilities: | ||
Operating loss carryforwards | $ 823 |
Income Taxes - MidAmerican Fu_4
Income Taxes - MidAmerican Funding - Net Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 153 | $ 145 |
Additions based on tax positions related to the current year | 24 | 19 |
Reductions based on tax positions related to the current year | (19) | (14) |
Reductions for tax positions of prior years | (83) | (1) |
Ending balance | 97 | 153 |
Unrecognized tax benefits | 100 | 141 |
MidAmerican Funding, LLC | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | 8 | 8 |
Additions based on tax positions related to the current year | 16 | 4 |
Reductions based on tax positions related to the current year | (11) | (3) |
Reductions for tax positions of prior years | 0 | (1) |
Ending balance | 13 | $ 8 |
Unrecognized tax benefits | $ 33 |
Income Taxes - NPC - Components
Income Taxes - NPC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current | $ (1,778) | $ (1,572) | $ (888) |
Deferred | 650 | 1,883 | 296 |
Investment tax credits | (4) | (3) | (6) |
Total | (1,132) | 308 | (598) |
NPC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current | 37 | 57 | 105 |
Deferred | 0 | (10) | (31) |
Investment tax credits | 0 | 0 | (1) |
Total | $ 37 | $ 47 | $ 73 |
Income Taxes - NPC - Reconcilia
Income Taxes - NPC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Contingency [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
NPC | |||
Income Tax Contingency [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Effects of ratemaking | (11.00%) | (8.00%) | 0.00% |
Other, net | 1.00% | 1.00% | 1.00% |
Effective income tax rate | 11.00% | 14.00% | 22.00% |
Income Taxes - NPC - Componen_2
Income Taxes - NPC - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
Other | 686 | 777 |
Total deferred income tax assets | 3,159 | 3,178 |
Property-related items | (11,814) | (10,816) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
NPC | ||
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | 195 | 206 |
Operating and finance leases | 73 | 79 |
Customer advances | 25 | 19 |
Derivative contracts and unamortized contract values | 25 | 8 |
Other | 8 | 15 |
Total deferred income tax assets | 326 | 327 |
Property-related items | (800) | (800) |
Regulatory assets | (204) | (176) |
Operating and finance leases | (70) | (76) |
Other | (34) | (13) |
Total deferred income tax liabilities | (1,108) | (1,065) |
Net deferred income tax liability | $ (782) | $ (738) |
Income Taxes - SPPC - Component
Income Taxes - SPPC - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current - Federal | $ (1,701) | $ (1,537) | $ (956) |
Deferred - Federal | 1,037 | 1,438 | 431 |
Investment tax credits | (4) | (3) | (6) |
Total | (1,132) | 308 | (598) |
SPPC | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Current - Federal | 5 | 3 | 19 |
Deferred - Federal | 13 | 12 | 10 |
Investment tax credits | 0 | 0 | (1) |
Total | $ 18 | $ 15 | $ 28 |
Income Taxes - SPPC - Reconcili
Income Taxes - SPPC - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Effects of ratemaking | (4.00%) | (3.00%) | (6.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
SPPC | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
Effects of ratemaking | (8.00%) | (9.00%) | 0.00% |
Effective income tax rate | 13.00% | 12.00% | 21.00% |
Income Taxes - SPPC - Compone_2
Income Taxes - SPPC - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | $ 1,349 | $ 1,420 |
Other | 686 | 777 |
Total deferred income tax assets | 3,159 | 3,178 |
Property-related items | (11,814) | (10,816) |
Regulatory assets | (764) | (785) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
SPPC | ||
Deferred Tax Assets and Liabilities [Line Items] | ||
Regulatory liabilities | 64 | 67 |
Operating and finance leases | 27 | 30 |
Customer advances | 14 | 10 |
Derivative contracts and unamortized contract values | 8 | 2 |
Other | 6 | 8 |
Total deferred income tax assets | 119 | 117 |
Property-related items | (379) | (380) |
Regulatory assets | (94) | (74) |
Operating and finance leases | (27) | (30) |
Other | (21) | (7) |
Total deferred income tax liabilities | (521) | (491) |
Net deferred income tax liability | $ (402) | $ (374) |
Income Taxes - EEGH - Component
Income Taxes - EEGH - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of Income Tax Expense (Benefit) [Line Items] | |||
Federal | $ (1,701) | $ (1,537) | $ (956) |
State | (177) | (121) | (13) |
Total current | (1,778) | (1,572) | (888) |
Federal | 1,037 | 1,438 | 431 |
State | (476) | 424 | (127) |
Total deferred | 650 | 1,883 | 296 |
Total | (1,132) | 308 | (598) |
EEGH | |||
Components of Income Tax Expense (Benefit) [Line Items] | |||
Federal | (47) | (20) | 130 |
State | (21) | 1 | 17 |
Total current | (68) | (19) | 147 |
Federal | 129 | 23 | (36) |
State | 56 | (28) | (10) |
Total deferred | 185 | (5) | (46) |
Total | $ 117 | $ (24) | $ 101 |
Income Taxes - EEGH - Narrative
Income Taxes - EEGH - Narrative (Details) - USD ($) | Nov. 01, 2020 | Jun. 30, 2015 | Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2020 |
Schedule of Income Tax Expense (Benefit) Components [Line Items] | |||||
Income tax expense | $ 33,000,000 | ||||
Unrecognized tax benefits | $ 100,000,000 | $ 141,000,000 | |||
EEGH | |||||
Schedule of Income Tax Expense (Benefit) Components [Line Items] | |||||
Federal and state carryforwards | 7,000,000 | $ 0 | |||
Unrecognized tax benefits | $ 0 | ||||
EEGH | Cove Point LNG, LP | |||||
Schedule of Income Tax Expense (Benefit) Components [Line Items] | |||||
Ownership interest | 25.00% | 75.00% | 75.00% |
Income Taxes - EEGH - Reconcili
Income Taxes - EEGH - Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
State income tax, net of federal income tax benefit | 10.00% | (3.00%) | 5.00% |
Other, net | 0.00% | (1.00%) | (1.00%) |
Effective income tax rate | (21.00%) | 4.00% | (25.00%) |
EEGH | |||
Schedule of Effective Income Tax Rate Reconciliation [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
State income tax, net of federal income tax benefit | 3.00% | (13.00%) | 1.00% |
Equity income | 1.00% | 4.00% | 1.00% |
Effects of ratemaking | 1.00% | (2.00%) | (1.00%) |
Change in tax status | 0.00% | (9.00%) | (4.00%) |
AFUDC-equity | 0.00% | (1.00%) | (1.00%) |
Noncontrolling interest | (11.00%) | (16.00%) | (3.00%) |
Write-off of regulatory assets | 0.00% | 3.00% | 0.00% |
Other, net | 1.00% | 1.00% | (1.00%) |
Effective income tax rate | 16.00% | (12.00%) | 13.00% |
Income Taxes - EEGH - Compone_2
Income Taxes - EEGH - Components of Net Deferred Income Tax Liability (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax assets: | ||
Other | $ 686 | $ 777 |
Total deferred income tax assets, net | 2,995 | 2,974 |
Deferred income tax liabilities: | ||
Property-related items | (11,814) | (10,816) |
Other | (478) | (327) |
Total deferred income tax liabilities | (15,933) | (14,749) |
Net deferred income tax liability | (12,938) | (11,775) |
EEGH | ||
Deferred income tax assets: | ||
Federal and state carryforwards | 7 | 0 |
Employee benefits | 33 | 30 |
Intangibles | 150 | 148 |
Derivatives and hedges | 16 | 18 |
Other | 9 | 4 |
Total deferred income tax assets, net | 215 | 200 |
Deferred income tax liabilities: | ||
Property-related items | (129) | (52) |
Partnership investments | (49) | (19) |
Debt exchange | (60) | 0 |
Deferred state income taxes | (16) | 0 |
Debt issuance discount | (7) | (8) |
Other | (9) | (2) |
Total deferred income tax liabilities | (270) | (81) |
Net deferred income tax liability | $ (55) | |
Net deferred income tax asset | $ 119 |
Income Taxes - EEGH - Net Unrec
Income Taxes - EEGH - Net Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 153,000,000 | $ 145,000,000 |
Additions for tax positions of prior years | 13,000,000 | 6,000,000 |
Reductions for tax positions of prior years | (83,000,000) | (1,000,000) |
Ending balance | 97,000,000 | 153,000,000 |
Unrecognized tax benefits | 100,000,000 | 141,000,000 |
EEGH | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | 0 | 2,000,000 |
Additions for tax positions of prior years | 0 | 5,000,000 |
Reductions for tax positions of prior years | 0 | (7,000,000) |
Ending balance | 0 | $ 0 |
Unrecognized tax benefits | $ 0 |
Employee Benefit Plans - Domest
Employee Benefit Plans - Domestic Operations and Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Pension | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | $ 81 | |||
Settlement | $ (5) | |||
Pension | United States | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | 0 | $ 81 | ||
Service cost | 30 | 17 | $ 16 | |
Interest cost | 78 | 93 | 111 | |
Expected return on plan assets | (134) | (140) | (154) | |
Settlement | 3 | 0 | 0 | |
Net amortization | 25 | 32 | 31 | |
Net periodic benefit cost (credit) | 2 | 2 | 4 | |
Pension | United States | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | (1) | 81 | ||
Service cost | 20 | 8 | 6 | |
Interest cost | 22 | 25 | 30 | |
Expected return on plan assets | (37) | (40) | (41) | |
Settlement | (5) | 0 | 0 | |
Net amortization | 1 | 1 | 1 | |
Net periodic benefit cost (credit) | 1 | (6) | (4) | |
Pension | United Kingdom | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 16 | 16 | 16 | |
Interest cost | 31 | 40 | 49 | |
Expected return on plan assets | (111) | (101) | (100) | |
Settlement | 10 | 17 | 26 | |
Net amortization | 55 | 43 | 46 | |
Net periodic benefit cost (credit) | 1 | 15 | 37 | |
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | 0 | 37 | ||
Service cost | 12 | 7 | 8 | |
Interest cost | 19 | 21 | 27 | |
Expected return on plan assets | (22) | (34) | (40) | |
Settlement | 0 | 0 | 0 | |
Net amortization | (3) | (4) | (6) | |
Net periodic benefit cost (credit) | 6 | (10) | (11) | |
Other Postretirement | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | $ 37 | (5) | 37 | |
Service cost | 9 | 4 | 5 | |
Interest cost | 8 | 7 | 10 | |
Expected return on plan assets | (10) | (14) | (13) | |
Settlement | 0 | 0 | 0 | |
Net amortization | (4) | (5) | (3) | |
Net periodic benefit cost (credit) | $ 3 | $ (8) | $ (1) |
Employee Benefit Plans - Funded
Employee Benefit Plans - Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 744 | $ 742 | |
Employer contributions | 14 | 3 | |
Participant contributions | 9 | 8 | |
Actual return on plan assets | 53 | 40 | |
Settlement | 0 | 0 | |
Benefits paid | (51) | (49) | |
Ending balance | 769 | 744 | $ 742 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 758 | 673 | |
Service cost | 12 | 7 | 8 |
Interest cost | 19 | 21 | 27 |
Participant contributions | 9 | 8 | |
Actuarial (gain) loss | (35) | 61 | |
Amendment | 2 | 0 | |
Settlement | 0 | 0 | |
Acquisition | 0 | 37 | |
Benefits paid | (51) | (49) | |
Ending balance | 714 | 758 | 673 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 769 | 744 | 742 |
Benefit obligation, end of year | 714 | 758 | 673 |
Funded status | 55 | (14) | |
Other assets | 60 | 20 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (5) | (34) | |
Amounts recognized | 55 | (14) | |
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Fair value of plan assets | 137 | 417 | |
Projected benefit obligation | 142 | 451 | |
Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 343 | 303 | |
United States | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,824 | 2,656 | |
Employer contributions | 13 | 13 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | 234 | 373 | |
Settlement | (134) | 0 | |
Benefits paid | (142) | (218) | |
Ending balance | 2,795 | 2,824 | 2,656 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 3,077 | 2,878 | |
Service cost | 30 | 17 | 16 |
Interest cost | 78 | 93 | 111 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (132) | 226 | |
Amendment | 0 | 0 | |
Settlement | (134) | 0 | |
Acquisition | 0 | 81 | |
Benefits paid | (142) | (218) | |
Ending balance | 2,777 | 3,077 | 2,878 |
Accumulated benefit obligation, end of year | 2,713 | 2,999 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,795 | 2,824 | 2,656 |
Benefit obligation, end of year | 2,777 | 3,077 | 2,878 |
Funded status | 18 | (253) | |
Other assets | 204 | 43 | |
Other current liabilities | (13) | (13) | |
Other long-term liabilities | (173) | (283) | |
Amounts recognized | 18 | (253) | |
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract] | |||
Fair value of plan assets | 0 | 1,782 | |
Projected benefit obligation | 186 | 2,069 | |
Fair value of plan assets | 0 | 1,064 | |
Accumulated benefit obligation | 185 | 1,341 | |
United Kingdom | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,334 | 2,151 | |
Employer contributions | 28 | 56 | |
Participant contributions | 1 | 1 | |
Actual return on plan assets | 148 | 181 | |
Settlement | (51) | (63) | |
Benefits paid | (72) | (67) | |
Foreign currency exchange rate changes | (25) | 75 | |
Ending balance | 2,363 | 2,334 | 2,151 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 2,205 | 2,019 | |
Service cost | 16 | 16 | 16 |
Interest cost | 31 | 40 | 49 |
Participant contributions | 1 | 1 | |
Actuarial (gain) loss | (105) | 188 | |
Settlement | (51) | (63) | |
Benefits paid | (72) | (67) | |
Foreign currency exchange rate changes | (22) | 71 | |
Ending balance | 2,003 | 2,205 | 2,019 |
Accumulated benefit obligation, end of year | 1,778 | 1,963 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,363 | 2,334 | 2,151 |
Benefit obligation, end of year | 2,003 | 2,205 | $ 2,019 |
Funded status | 360 | 129 | |
Other assets | $ 360 | $ 129 |
Employee Benefit Plans - Unreco
Employee Benefit Plans - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Pension | United States | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | $ 343 | $ 612 |
Prior service credit | (1) | (1) |
Regulatory deferrals | 11 | 2 |
Total | 353 | 613 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 613 | 652 |
Net (gain) loss arising during the year | (231) | (7) |
Settlement | (4) | |
Net amortization | (25) | (32) |
Total | (260) | (39) |
Ending balance | 353 | 613 |
Pension | United States | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 22 | 33 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 33 | 24 |
Net (gain) loss arising during the year | (10) | 10 |
Settlement | 0 | |
Net amortization | (1) | (1) |
Total | (11) | 9 |
Ending balance | 22 | 33 |
Pension | United States | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 390 | 600 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 600 | 661 |
Net (gain) loss arising during the year | (177) | (30) |
Settlement | (9) | |
Net amortization | (24) | (31) |
Total | (210) | (61) |
Ending balance | 390 | 600 |
Pension | United States | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (59) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (20) | (33) |
Net (gain) loss arising during the year | (44) | 13 |
Settlement | 5 | |
Net amortization | 0 | 0 |
Total | (39) | 13 |
Ending balance | (59) | (20) |
Pension | United Kingdom | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss | 400 | 612 |
Prior service cost | 5 | 6 |
Total | 405 | 618 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 618 | |
Ending balance | 405 | 618 |
Pension | United Kingdom | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 405 | 618 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 618 | 549 |
Net (gain) loss arising during the year | (143) | 108 |
Settlement | (10) | (17) |
Net amortization | (55) | (43) |
Foreign currency exchange rate changes | (5) | 21 |
Total | (213) | 69 |
Ending balance | 405 | 618 |
Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | (34) | 34 |
Prior service credit | (1) | (9) |
Regulatory deferrals | 2 | 3 |
Total | (33) | 28 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 28 | (31) |
Net (gain) loss arising during the year | (65) | 55 |
Net prior service credit arising during the year | 1 | |
Net amortization | 3 | 4 |
Total | (61) | 59 |
Ending balance | (33) | 28 |
Other Postretirement | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 1 | 4 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 4 | (3) |
Net (gain) loss arising during the year | (3) | 7 |
Net prior service credit arising during the year | 0 | |
Net amortization | 0 | 0 |
Total | (3) | 7 |
Ending balance | 1 | 4 |
Other Postretirement | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 11 | 47 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 47 | 4 |
Net (gain) loss arising during the year | (40) | 36 |
Net prior service credit arising during the year | 1 | |
Net amortization | 3 | 7 |
Total | (36) | 43 |
Ending balance | 11 | 47 |
Other Postretirement | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (45) | (23) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (23) | (32) |
Net (gain) loss arising during the year | (22) | 12 |
Net prior service credit arising during the year | 0 | |
Net amortization | 0 | (3) |
Total | (22) | 9 |
Ending balance | $ (45) | $ (23) |
Employee Benefit Plans - Plan A
Employee Benefit Plans - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net periodic benefit cost for the years ended December 31: | |||
Healthcare cost trend rate assumed for next year | 6.00% | 6.30% | |
Rate that the cost trend rate gradually declines to | 5.00% | 5.00% | |
Pension | United States | |||
Benefit obligations as of December 31: | |||
Discount rate | 2.98% | 2.60% | 3.32% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 2.45% | 2.44% | 3.22% |
Interest crediting rates for cash balance plan, year two | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year three | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year four | 2.83% | 2.65% | 3.02% |
Interest crediting rates for cash balance plan, year five | 2.65% | 3.02% | |
Interest crediting rates for cash balance plan, year six | 3.02% | ||
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 2.60% | 3.32% | 4.25% |
Expected return on plan assets | 5.39% | 5.94% | 6.48% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 2.45% | 2.44% | 3.22% |
Pension | United Kingdom | |||
Benefit obligations as of December 31: | |||
Discount rate | 1.95% | 1.40% | 2.10% |
Rate of compensation increase | 3.45% | 3.05% | 3.30% |
Rate of future price inflation | 2.95% | 2.55% | 2.80% |
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 1.40% | 2.10% | 2.90% |
Expected return on plan assets | 4.85% | 5.00% | 5.10% |
Rate of compensation increase | 3.05% | 3.30% | 3.55% |
Rate of future price inflation | 2.55% | 2.80% | 3.05% |
Other Postretirement | |||
Benefit obligations as of December 31: | |||
Discount rate | 2.95% | 2.59% | 3.24% |
Net periodic benefit cost for the years ended December 31: | |||
Discount rate | 2.59% | 3.24% | 4.21% |
Expected return on plan assets | 3.35% | 5.42% | 6.39% |
Employee Benefit Plans - Contri
Employee Benefit Plans - Contributions and Benefit Payments (Details) - Dec. 31, 2021 £ in Millions, $ in Millions | USD ($) | GBP (£) |
Other Postretirement | ||
Expected future benefit payments | ||
2022 | $ 54 | |
2023 | 54 | |
2024 | 54 | |
2025 | 53 | |
2026 | 51 | |
2027-2031 | 229 | |
United States | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | 13 | |
Expected future benefit payments | ||
2022 | 210 | |
2023 | 203 | |
2024 | 195 | |
2025 | 193 | |
2026 | 193 | |
2027-2031 | 837 | |
United States | Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | 5 | |
United Kingdom | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit payments | £ | £ 12 | |
Expected future benefit payments | ||
2022 | 73 | |
2023 | 75 | |
2024 | 77 | |
2025 | 79 | |
2026 | 81 | |
2027-2031 | $ 436 |
Employee Benefit Plans - Asset
Employee Benefit Plans - Asset Allocations (Details) | Dec. 31, 2021 |
Minimum | Other Postretirement | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70.00% |
Minimum | Other Postretirement | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25.00% |
Minimum | Other Postretirement | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 67.00% |
Minimum | Other Postretirement | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20.00% |
Minimum | Other Postretirement | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 65.00% |
Minimum | Other Postretirement | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 12.00% |
Minimum | United States | Pension | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 55.00% |
Minimum | United States | Pension | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60.00% |
Minimum | United States | Pension | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 85.00% |
Minimum | United States | Pension | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25.00% |
Minimum | United States | Pension | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20.00% |
Minimum | United Kingdom | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60.00% |
Minimum | United Kingdom | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 10.00% |
Minimum | United Kingdom | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15.00% |
Maximum | Other Postretirement | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80.00% |
Maximum | Other Postretirement | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35.00% |
Maximum | Other Postretirement | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 88.00% |
Maximum | Other Postretirement | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 30.00% |
Maximum | Other Postretirement | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 75.00% |
Maximum | Other Postretirement | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 33.00% |
Maximum | Other Postretirement | Limited partnership interests | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 1.00% |
Maximum | Other Postretirement | Other | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 1.00% |
Maximum | Other Postretirement | Other | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5.00% |
Maximum | United States | Pension | Debt securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 85.00% |
Maximum | United States | Pension | Debt securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80.00% |
Maximum | United States | Pension | Debt securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 100.00% |
Maximum | United States | Pension | Equity securities | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35.00% |
Maximum | United States | Pension | Equity securities | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40.00% |
Maximum | United States | Pension | Equity securities | NV Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15.00% |
Maximum | United States | Pension | Limited partnership interests | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 10.00% |
Maximum | United States | Pension | Other | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 10.00% |
Maximum | United States | Pension | Other | MidAmerican Energy | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15.00% |
Maximum | United Kingdom | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70.00% |
Maximum | United Kingdom | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20.00% |
Maximum | United Kingdom | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25.00% |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 769 | $ 744 | $ 742 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 607 | 573 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 437 | 340 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 170 | 233 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 16 | 22 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 12 | 20 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 2 | |
Other Postretirement | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States 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 | 85 | 102 | |
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 | 85 | 102 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 82 | |
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 | 43 | 82 | |
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 | 38 | 47 | |
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 | 38 | 47 | |
Other Postretirement | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States 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 | 55.00% | 40.00% | |
Percentage of funds comprised of debt securities | 45.00% | 60.00% | |
Percentage of funds invested in United States securities | 88.00% | 79.00% | |
Percentage of funds invested in international securities | 12.00% | 21.00% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 394 | $ 299 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 394 | 299 | |
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 | 161 | 167 | |
Other Postretirement | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | 4 | |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,795 | 2,824 | 2,656 |
United States | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,412 | 1,172 | |
United States | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 277 | 276 | |
United States | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,135 | 896 | |
United States | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
United States | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
United States | Pension | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
United States | Pension | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
United States | Pension | United States government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
United States | Pension | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
United States | Pension | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
United States | Pension | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
United States | 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 | 93 | ||
United States | Pension | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 93 | ||
United States | Pension | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
United States | Pension | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
United States | Pension | Equity securities, United States companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
United States | Pension | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 54.00% | 69.00% | |
Percentage of funds comprised of debt securities | 46.00% | 31.00% | |
Percentage of funds invested in United States securities | 89.00% | 79.00% | |
Percentage of funds invested in international securities | 11.00% | 21.00% | |
United States | Pension | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 1,349 | $ 1,521 | |
United States | Pension | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 34 | 88 | |
United States | Pension | Real estate funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | ||
United Kingdom | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,363 | 2,334 | $ 2,151 |
United Kingdom | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,255 | 2,226 | |
United Kingdom | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,313 | 1,107 | |
United Kingdom | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 673 | 882 | |
United Kingdom | Pension | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 269 | 237 | |
United Kingdom | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 32 | 54 | |
United Kingdom | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 5 | 5 | |
United Kingdom | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 49 | |
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 | 1,308 | 1,102 | |
United Kingdom | Pension | United Kingdom government | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,308 | 1,102 | |
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 | 23.00% | 40.00% | |
Percentage of funds comprised of debt securities | 77.00% | 60.00% | |
United Kingdom | Pension | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 646 | $ 833 | |
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 | 646 | 833 | |
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 | 108 | 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 | 269 | 237 | |
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 | $ 269 | $ 237 |
Employee Benefit Plans - Level
Employee Benefit Plans - Level 3 Rollforward (Details) - United Kingdom - Pension - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 2,334 | $ 2,151 | |
Foreign currency exchange rate changes | (25) | 75 | |
Ending balance | 2,363 | 2,334 | $ 2,151 |
Level 3 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 237 | ||
Ending balance | 269 | 237 | |
Real estate funds | Level 3 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 237 | 243 | 239 |
Actual return on plan assets still held at period end | 35 | (13) | (5) |
Foreign currency exchange rate changes | (3) | 7 | 9 |
Ending balance | $ 269 | $ 237 | $ 243 |
Employee Benefit Plans - Define
Employee Benefit Plans - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 137 | $ 127 | $ 115 |
Employee Benefit Plans - PAC -
Employee Benefit Plans - PAC - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Payment for settlement | $ 0 | $ 0 | |
Service cost | 12 | 7 | $ 8 |
Interest cost | 19 | 21 | 27 |
Expected return on plan assets | (22) | (34) | (40) |
Net amortization | (3) | (4) | (6) |
Net periodic benefit cost (credit) | 6 | (10) | (11) |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Payment for settlement | 0 | 0 | |
Service cost | 2 | 2 | 2 |
Interest cost | 7 | 9 | 12 |
Expected return on plan assets | (9) | (14) | (21) |
Settlement | 0 | 0 | 0 |
Net amortization | 1 | 3 | 0 |
Net periodic benefit cost (credit) | 1 | 0 | (7) |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Payment for settlement | 134 | 0 | |
Service cost | 30 | 17 | 16 |
Interest cost | 78 | 93 | 111 |
Expected return on plan assets | (134) | (140) | (154) |
Net amortization | 25 | 32 | 31 |
Net periodic benefit cost (credit) | 2 | 2 | 4 |
United States | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Payment for settlement | 52 | 0 | |
Service cost | 0 | 0 | 0 |
Interest cost | 29 | 36 | 44 |
Expected return on plan assets | (51) | (56) | (67) |
Settlement | 6 | 0 | 0 |
Net amortization | 21 | 18 | 11 |
Net periodic benefit cost (credit) | $ 5 | $ (2) | $ (12) |
Employee Benefit Plans - PAC _2
Employee Benefit Plans - PAC - Funded Status (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | $ 744 | $ 742 | |
Employer contributions | 14 | 3 | |
Participant contributions | 9 | 8 | |
Actual return on plan assets | 53 | 40 | |
Settlement | 0 | 0 | |
Benefits paid | (51) | (49) | |
Ending balance | 769 | 744 | $ 742 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 758 | 673 | |
Service cost | 12 | 7 | 8 |
Interest cost | 19 | 21 | 27 |
Participant contributions | 9 | 8 | |
Actuarial (gain) loss | (35) | 61 | |
Settlement | 0 | 0 | |
Benefits Paid | (51) | (49) | |
Ending balance | 714 | 758 | 673 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 769 | 744 | 742 |
Benefit obligation, end of year | 714 | 758 | 673 |
Funded status | 55 | (14) | |
Other assets | 60 | 20 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (5) | (34) | |
Amounts recognized | 55 | (14) | |
Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 343 | 303 | |
PAC | Other Postretirement | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 327 | 334 | |
Employer contributions | 1 | 0 | |
Participant contributions | 6 | 4 | |
Actual return on plan assets | 14 | 15 | |
Settlement | 0 | 0 | |
Benefits paid | (24) | (26) | |
Ending balance | 324 | 327 | 334 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 307 | 304 | |
Service cost | 2 | 2 | 2 |
Interest cost | 7 | 9 | 12 |
Participant contributions | 6 | 4 | |
Actuarial (gain) loss | (10) | 14 | |
Settlement | 0 | 0 | |
Benefits Paid | (24) | (26) | |
Ending balance | 288 | 307 | 304 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 324 | 327 | 334 |
Benefit obligation, end of year | 288 | 307 | 304 |
Funded status | 36 | 20 | |
Other assets | 36 | 20 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | 0 | 0 | |
Amounts recognized | 36 | 20 | |
PAC | Supplemental Employee Retirement Plan | |||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | |||
Rabbi trusts | 69 | 61 | |
United States | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 2,824 | 2,656 | |
Employer contributions | 13 | 13 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | 234 | 373 | |
Settlement | (134) | 0 | |
Benefits paid | (142) | (218) | |
Ending balance | 2,795 | 2,824 | 2,656 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 3,077 | 2,878 | |
Service cost | 30 | 17 | 16 |
Interest cost | 78 | 93 | 111 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (132) | 226 | |
Settlement | (134) | 0 | |
Benefits Paid | (142) | (218) | |
Ending balance | 2,777 | 3,077 | 2,878 |
Accumulated benefit obligation, end of year | 2,713 | 2,999 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 2,795 | 2,824 | 2,656 |
Benefit obligation, end of year | 2,777 | 3,077 | 2,878 |
Funded status | 18 | (253) | |
Other assets | 204 | 43 | |
Other current liabilities | (13) | (13) | |
Other long-term liabilities | (173) | (283) | |
Amounts recognized | 18 | (253) | |
United States | PAC | Pension | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance | 1,064 | 1,036 | |
Employer contributions | 5 | 5 | |
Participant contributions | 0 | 0 | |
Actual return on plan assets | 109 | 124 | |
Settlement | (52) | 0 | |
Benefits paid | (68) | (101) | |
Ending balance | 1,058 | 1,064 | 1,036 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 1,202 | 1,167 | |
Service cost | 0 | 0 | 0 |
Interest cost | 29 | 36 | 44 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (63) | 100 | |
Settlement | (52) | 0 | |
Benefits Paid | (68) | (101) | |
Ending balance | 1,048 | 1,202 | 1,167 |
Accumulated benefit obligation, end of year | 1,048 | 1,202 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | |||
Plan assets at fair value, end of year | 1,058 | 1,064 | 1,036 |
Benefit obligation, end of year | 1,048 | 1,202 | $ 1,167 |
Funded status | 10 | (138) | |
Other assets | 63 | 8 | |
Other current liabilities | (4) | (4) | |
Other long-term liabilities | (49) | (142) | |
Amounts recognized | $ 10 | $ (138) |
Employee Benefit Plans - PAC _3
Employee Benefit Plans - PAC - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | $ (34) | $ 34 |
Regulatory deferrals | 2 | 3 |
Total | (33) | 28 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 28 | (31) |
Net (gain) loss arising during the year | (65) | 55 |
Net amortization | 3 | 4 |
Total | (61) | 59 |
Ending balance | (33) | 28 |
Other Postretirement | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 11 | 47 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 47 | 4 |
Net (gain) loss arising during the year | (40) | 36 |
Net amortization | 3 | 7 |
Total | (36) | 43 |
Ending balance | 11 | 47 |
Other Postretirement | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (45) | (23) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (23) | (32) |
Net (gain) loss arising during the year | (22) | 12 |
Net amortization | 0 | (3) |
Total | (22) | 9 |
Ending balance | (45) | (23) |
Other Postretirement | PAC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | (28) | (13) |
Regulatory deferrals | 2 | 3 |
Total | (26) | (10) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (10) | |
Ending balance | (26) | (10) |
Other Postretirement | PAC | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (26) | (10) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (10) | (20) |
Net (gain) loss arising during the year | (15) | 13 |
Net amortization | (1) | (3) |
Total | (16) | 10 |
Ending balance | (26) | (10) |
United States | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 343 | 612 |
Regulatory deferrals | 11 | 2 |
Total | 353 | 613 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 613 | 652 |
Net (gain) loss arising during the year | (231) | (7) |
Net amortization | (25) | (32) |
Settlement | (4) | |
Total | (260) | (39) |
Ending balance | 353 | 613 |
United States | Pension | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 390 | 600 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 600 | 661 |
Net (gain) loss arising during the year | (177) | (30) |
Net amortization | (24) | (31) |
Settlement | (9) | |
Total | (210) | (61) |
Ending balance | 390 | 600 |
United States | Pension | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (59) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (20) | (33) |
Net (gain) loss arising during the year | (44) | 13 |
Net amortization | 0 | 0 |
Settlement | 5 | |
Total | (39) | 13 |
Ending balance | (59) | (20) |
United States | Pension | PAC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 298 | 455 |
Regulatory deferrals | 11 | 2 |
Total | 309 | 457 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 457 | 443 |
Net (gain) loss arising during the year | (121) | 32 |
Net amortization | (21) | (18) |
Settlement | (6) | |
Total | (148) | 14 |
Ending balance | 309 | 457 |
Regulatory deferrals, settlement losses | 9 | |
United States | Pension | PAC | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 286 | 432 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 432 | 422 |
Net (gain) loss arising during the year | (120) | 27 |
Net amortization | (20) | (17) |
Settlement | (6) | |
Total | (146) | 10 |
Ending balance | 286 | 432 |
United States | Pension | PAC | Accumulated Other Comprehensive Income (Loss) | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 23 | 25 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 25 | 21 |
Net (gain) loss arising during the year | (1) | 5 |
Net amortization | (1) | (1) |
Settlement | 0 | |
Total | (2) | 4 |
Ending balance | $ 23 | $ 25 |
Employee Benefit Plans - PAC _4
Employee Benefit Plans - PAC - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.95% | 2.59% | 3.24% |
Discount rate | 2.59% | 3.24% | 4.21% |
Expected return on plan assets | 3.35% | 5.42% | 6.39% |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.90% | 2.50% | 3.20% |
Discount rate | 2.50% | 3.20% | 4.25% |
Expected return on plan assets | 2.90% | 4.92% | 6.86% |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.98% | 2.60% | 3.32% |
Interest crediting rates for cash balance plan, year one | 2.45% | 2.44% | 3.22% |
Interest crediting rates for cash balance plan, year two | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year three | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year four | 2.83% | 2.65% | 3.02% |
Interest crediting rates for cash balance plan, year five | 2.65% | 3.02% | |
Interest crediting rates for cash balance plan, year six | 3.02% | ||
Discount rate | 2.60% | 3.32% | 4.25% |
Expected return on plan assets | 5.39% | 5.94% | 6.48% |
United States | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.90% | 2.50% | 3.25% |
Discount rate | 2.50% | 3.25% | 4.25% |
Expected return on plan assets | 6.00% | 6.50% | 7.00% |
United States | Pension | PAC | Nonunion pension plan participant | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest crediting rates for cash balance plan, year one | 0.82% | 2.27% | 3.40% |
Interest crediting rates for cash balance plan, year two | 0.88% | 0.82% | 2.27% |
Interest crediting rates for cash balance plan, year three | 0.88% | 0.82% | 2.27% |
Interest crediting rates for cash balance plan, year four | 1.90% | 2.00% | 2.10% |
Interest crediting rates for cash balance plan, year five | 2.00% | 2.10% | |
Interest crediting rates for cash balance plan, year six | 2.10% | ||
United States | Pension | PAC | Union pension plan participant | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Interest crediting rates for cash balance plan, year one | 1.42% | 2.16% | 3.15% |
Interest crediting rates for cash balance plan, year two | 1.94% | 1.42% | 2.16% |
Interest crediting rates for cash balance plan, year three | 1.94% | 1.42% | 2.16% |
Interest crediting rates for cash balance plan, year four | 2.30% | 2.40% | 2.70% |
Interest crediting rates for cash balance plan, year five | 2.40% | 2.70% | |
Interest crediting rates for cash balance plan, year six | 2.70% |
Employee Benefit Plans - PAC _5
Employee Benefit Plans - PAC - Contributions and Benefit Payments (Details) $ in Millions | Dec. 31, 2021USD ($) |
Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | $ 54 |
2023 | 54 |
2024 | 54 |
2025 | 53 |
2026 | 51 |
2027-2031 | 229 |
Other Postretirement | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 0 |
2022 | 24 |
2023 | 23 |
2024 | 22 |
2025 | 21 |
2026 | 20 |
2027-2031 | 87 |
United States | Pension | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 13 |
2022 | 210 |
2023 | 203 |
2024 | 195 |
2025 | 193 |
2026 | 193 |
2027-2031 | 837 |
United States | Pension | PAC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 4 |
2022 | 96 |
2023 | 85 |
2024 | 79 |
2025 | 76 |
2026 | 71 |
2027-2031 | 304 |
United States | Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | $ 5 |
Employee Benefit Plans - PAC _6
Employee Benefit Plans - PAC - Asset Allocations (Details) - PAC | Dec. 31, 2021 |
Minimum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 70.00% |
Minimum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20.00% |
Maximum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80.00% |
Maximum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 30.00% |
Maximum | Other Postretirement | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 1.00% |
United States | Minimum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 55.00% |
United States | Minimum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25.00% |
United States | Maximum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 85.00% |
United States | Maximum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35.00% |
United States | Maximum | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 10.00% |
Employee Benefit Plans - PAC _7
Employee Benefit Plans - PAC - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 769 | $ 744 | $ 742 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 607 | 573 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 437 | 340 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 170 | 233 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 16 | 22 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 12 | 20 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 2 | |
Other Postretirement | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States 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 | 85 | 102 | |
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 | 85 | 102 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 82 | |
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 | 43 | 82 | |
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 | 38 | 47 | |
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 | 38 | 47 | |
Other Postretirement | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States 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 | 55.00% | 40.00% | |
Percentage of funds comprised of debt securities | 45.00% | 60.00% | |
Percentage of funds invested in United States securities | 88.00% | 79.00% | |
Percentage of funds invested in international securities | 12.00% | 21.00% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 394 | $ 299 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 394 | 299 | |
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 | 161 | 167 | |
Other Postretirement | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | 4 | |
Other Postretirement | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 324 | 327 | 334 |
Other Postretirement | PAC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 162 | 170 | |
Other Postretirement | PAC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 32 | 23 | |
Other Postretirement | PAC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 130 | 147 | |
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 | 5 | 9 | |
Other Postretirement | PAC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 8 | |
Other Postretirement | PAC | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | 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 | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 24 | 11 | |
Other Postretirement | PAC | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 24 | 11 | |
Other Postretirement | PAC | United States government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | United States 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 | 79 | 86 | |
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 | 79 | 86 | |
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 | 15 | 16 | |
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 | 15 | 16 | |
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 | 35 | 44 | |
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 | 35 | 44 | |
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, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 4 | |
Other Postretirement | PAC | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 4 | |
Other Postretirement | PAC | Equity securities, United States companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | PAC | Equity securities, United States 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 | 39.00% | 38.00% | |
Percentage of funds comprised of debt securities | 61.00% | 62.00% | |
Percentage of funds invested in United States securities | 90.00% | 93.00% | |
Percentage of funds invested in international securities | 10.00% | 7.00% | |
Other Postretirement | PAC | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 161 | $ 153 | |
Other Postretirement | PAC | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1 | 4 | |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 2,795 | 2,824 | 2,656 |
United States | Pension | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,412 | 1,172 | |
United States | Pension | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 277 | 276 | |
United States | Pension | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,135 | 896 | |
United States | Pension | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
United States | Pension | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
United States | Pension | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
United States | Pension | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
United States | Pension | United States government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
United States | Pension | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
United States | Pension | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
United States | Pension | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
United States | 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 | 93 | ||
United States | Pension | Agency, asset and mortgage-backed obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 93 | ||
United States | Pension | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
United States | Pension | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
United States | Pension | Equity securities, United States companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
United States | Pension | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 54.00% | 69.00% | |
Percentage of funds comprised of debt securities | 46.00% | 31.00% | |
Percentage of funds invested in United States securities | 89.00% | 79.00% | |
Percentage of funds invested in international securities | 11.00% | 21.00% | |
United States | Pension | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 1,349 | $ 1,521 | |
United States | Pension | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 34 | 88 | |
United States | Pension | PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,058 | 1,064 | $ 1,036 |
United States | Pension | PAC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 486 | 389 | |
United States | Pension | PAC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 112 | 105 | |
United States | Pension | PAC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 374 | 284 | |
United States | Pension | PAC | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 32 | |
United States | Pension | PAC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 15 | 32 | |
United States | Pension | PAC | Cash equivalents | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 14 | |
United States | Pension | PAC | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 51 | 14 | |
United States | Pension | PAC | United States government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | United States government obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | International government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | PAC | International government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | PAC | International government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | PAC | International government obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
United States | Pension | PAC | Corporate obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 299 | 231 | |
United States | Pension | PAC | Corporate obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Corporate obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 299 | 231 | |
United States | Pension | PAC | Corporate obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 21 | |
United States | Pension | PAC | Municipal obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Municipal obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 22 | 21 | |
United States | Pension | PAC | Municipal obligations | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | 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 | 38 | ||
United States | 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 | ||
United States | Pension | PAC | Agency, asset and mortgage-backed obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 38 | ||
United States | 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 | ||
United States | Pension | PAC | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 61 | 91 | |
United States | Pension | PAC | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 61 | 91 | |
United States | Pension | PAC | Equity securities, United States companies | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
United States | Pension | PAC | Equity securities, United States companies | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
United States | Pension | PAC | Investment funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 59.00% | 78.00% | |
Percentage of funds comprised of debt securities | 41.00% | 22.00% | |
Percentage of funds invested in United States securities | 84.00% | 74.00% | |
Percentage of funds invested in international securities | 16.00% | 26.00% | |
United States | Pension | PAC | Investment funds | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 538 | $ 587 | |
United States | Pension | PAC | Limited partnership interests | NAV | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 34 | $ 88 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage by which joint trustee plan was at least funded | 80.00% | 80.00% | 80.00% |
Contributions | $ 6 | $ 6 | $ 7 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
PAC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 40 | $ 41 | $ 40 |
Employee Benefit Plans - MEC -
Employee Benefit Plans - MEC - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Pension | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | $ 81 | |||
Settlement | $ (5) | |||
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | 0 | $ 37 | ||
Service cost | 12 | 7 | $ 8 | |
Interest cost | 19 | 21 | 27 | |
Expected return on plan assets | (22) | (34) | (40) | |
Settlement | 0 | 0 | 0 | |
Net amortization | (3) | (4) | (6) | |
Net periodic benefit cost (credit) | 6 | (10) | (11) | |
Other Postretirement | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | $ 37 | (5) | 37 | |
Service cost | 9 | 4 | 5 | |
Interest cost | 8 | 7 | 10 | |
Expected return on plan assets | (10) | (14) | (13) | |
Settlement | 0 | 0 | 0 | |
Net amortization | (4) | (5) | (3) | |
Net periodic benefit cost (credit) | 3 | (8) | (1) | |
Other Postretirement | MidAmerican Energy | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | 1 | (5) | 1 | |
United States | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | 0 | 81 | ||
Service cost | 30 | 17 | 16 | |
Interest cost | 78 | 93 | 111 | |
Expected return on plan assets | (134) | (140) | (154) | |
Settlement | 3 | 0 | 0 | |
Net amortization | 25 | 32 | 31 | |
Net periodic benefit cost (credit) | 2 | 2 | 4 | |
United States | Pension | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Acquisition | (1) | 81 | ||
Service cost | 20 | 8 | 6 | |
Interest cost | 22 | 25 | 30 | |
Expected return on plan assets | (37) | (40) | (41) | |
Settlement | (5) | 0 | 0 | |
Net amortization | 1 | 1 | 1 | |
Net periodic benefit cost (credit) | 1 | (6) | (4) | |
United States | Pension | MidAmerican Energy | MEC | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | $ (20) | $ (13) | $ (8) |
Employee Benefit Plans - MEC _2
Employee Benefit Plans - MEC - Funded Status (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Other Postretirement | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Beginning balance | $ 744 | $ 742 | ||
Employer contributions | 14 | 3 | ||
Participant contributions | 9 | 8 | ||
Actual return on plan assets | 53 | 40 | ||
Settlement | 0 | 0 | ||
Benefits paid | (51) | (49) | ||
Ending balance | 769 | 744 | $ 742 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Beginning balance | 758 | 673 | ||
Service cost | 12 | 7 | 8 | |
Interest cost | 19 | 21 | 27 | |
Participant contributions | 9 | 8 | ||
Actuarial (gain) loss | (35) | 61 | ||
Amendment | 2 | 0 | ||
Settlement | 0 | 0 | ||
Acquisition | 0 | 37 | ||
Benefits Paid | (51) | (49) | ||
Ending balance | 714 | 758 | 673 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | ||||
Plan assets at fair value, end of year | 769 | 744 | 742 | |
Benefit obligation, end of year | 714 | 758 | 673 | |
Funded status | 55 | (14) | ||
Other assets | 60 | 20 | ||
Other current liabilities | 0 | 0 | ||
Other long-term liabilities | (5) | (34) | ||
Amounts recognized | 55 | (14) | ||
Supplemental Employee Retirement Plan | ||||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | ||||
Rabbi trusts | 343 | 303 | ||
MEC | ||||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | ||||
Rabbi trusts | 233 | 211 | ||
MEC | Pension | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Acquisition | $ 81 | |||
MEC | Other Postretirement | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Beginning balance | 278 | 272 | ||
Employer contributions | 10 | 3 | ||
Participant contributions | 1 | 1 | ||
Actual return on plan assets | 34 | 15 | ||
Settlement | 0 | 0 | ||
Benefits paid | (15) | (13) | ||
Ending balance | 308 | 278 | 272 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Beginning balance | 304 | 226 | ||
Service cost | 9 | 4 | 5 | |
Interest cost | 8 | 7 | 10 | |
Participant contributions | 1 | 1 | ||
Actuarial (gain) loss | (18) | 42 | ||
Amendment | 1 | 0 | ||
Settlement | 0 | 0 | ||
Acquisition | $ 37 | (5) | 37 | |
Benefits Paid | (15) | (13) | ||
Ending balance | 285 | 304 | 226 | |
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | ||||
Plan assets at fair value, end of year | 308 | 278 | 272 | |
Benefit obligation, end of year | 285 | 304 | 226 | |
Funded status | 23 | (26) | ||
Other assets | 23 | 0 | ||
Other current liabilities | 0 | 0 | ||
Other long-term liabilities | 0 | (26) | ||
Amounts recognized | 23 | (26) | ||
MidAmerican Energy | MEC | Supplemental Employee Retirement Plan | ||||
Defined Benefit Plans, Supplemental Employee Retirement Plans [Abstract] | ||||
Rabbi trusts | 143 | 130 | ||
United States | Pension | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Beginning balance | 2,824 | 2,656 | ||
Employer contributions | 13 | 13 | ||
Participant contributions | 0 | 0 | ||
Actual return on plan assets | 234 | 373 | ||
Settlement | (134) | 0 | ||
Benefits paid | (142) | (218) | ||
Ending balance | 2,795 | 2,824 | 2,656 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Beginning balance | 3,077 | 2,878 | ||
Service cost | 30 | 17 | 16 | |
Interest cost | 78 | 93 | 111 | |
Participant contributions | 0 | 0 | ||
Actuarial (gain) loss | (132) | 226 | ||
Amendment | 0 | 0 | ||
Settlement | (134) | 0 | ||
Acquisition | 0 | 81 | ||
Benefits Paid | (142) | (218) | ||
Ending balance | 2,777 | 3,077 | 2,878 | |
Accumulated benefit obligation, end of year | 2,713 | 2,999 | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | ||||
Plan assets at fair value, end of year | 2,795 | 2,824 | 2,656 | |
Benefit obligation, end of year | 2,777 | 3,077 | 2,878 | |
Funded status | 18 | (253) | ||
Other assets | 204 | 43 | ||
Other current liabilities | (13) | (13) | ||
Other long-term liabilities | (173) | (283) | ||
Amounts recognized | 18 | (253) | ||
United States | MEC | Pension | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Beginning balance | 718 | 717 | ||
Employer contributions | 8 | 6 | ||
Participant contributions | 0 | 0 | ||
Actual return on plan assets | 58 | 55 | ||
Settlement | (46) | 0 | ||
Benefits paid | (34) | (60) | ||
Ending balance | 704 | 718 | 717 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Beginning balance | 845 | 763 | ||
Service cost | 20 | 8 | 6 | |
Interest cost | 22 | 25 | 30 | |
Participant contributions | 0 | 0 | ||
Actuarial (gain) loss | (25) | 28 | ||
Amendment | 0 | 0 | ||
Settlement | (46) | 0 | ||
Acquisition | (1) | 81 | ||
Benefits Paid | (34) | (60) | ||
Ending balance | 781 | 845 | 763 | |
Accumulated benefit obligation, end of year | 721 | 773 | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | ||||
Plan assets at fair value, end of year | 704 | 718 | 717 | |
Benefit obligation, end of year | 781 | 845 | $ 763 | |
Funded status | (77) | (127) | ||
Other assets | 34 | 0 | ||
Other current liabilities | (7) | (7) | ||
Other long-term liabilities | (104) | (120) | ||
Amounts recognized | (77) | (127) | ||
United States | MEC | Supplemental Employee Retirement Plan | ||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||
Beginning balance | 117 | |||
Ending balance | 111 | 117 | ||
Accumulated benefit obligation, end of year | 111 | 117 | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract] | ||||
Benefit obligation, end of year | $ 111 | $ 117 |
Employee Benefit Plans - MEC _3
Employee Benefit Plans - MEC - Unrecognized Amounts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Postretirement | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | $ (34) | $ 34 |
Prior service credit | (1) | (9) |
Total | (33) | 28 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 28 | (31) |
Net (gain) loss arising during the year | (65) | 55 |
Net amortization | 3 | 4 |
Total | (61) | 59 |
Ending balance | (33) | 28 |
Other Postretirement | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 11 | 47 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 47 | 4 |
Net (gain) loss arising during the year | (40) | 36 |
Net amortization | 3 | 7 |
Total | (36) | 43 |
Ending balance | 11 | 47 |
Other Postretirement | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (45) | (23) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (23) | (32) |
Net (gain) loss arising during the year | (22) | 12 |
Net amortization | 0 | (3) |
Total | (22) | 9 |
Ending balance | (45) | (23) |
Other Postretirement | MEC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 2 | 45 |
Prior service credit | (3) | (9) |
Total | (1) | 36 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 36 | (10) |
Net (gain) loss arising during the year | (42) | 41 |
Net prior service credit arising during the year | 1 | |
Net amortization | 4 | 5 |
Total | (37) | 46 |
Ending balance | (1) | 36 |
Other Postretirement | MEC | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 20 | 45 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 45 | 7 |
Net (gain) loss arising during the year | (29) | 34 |
Net prior service credit arising during the year | 1 | |
Net amortization | 3 | 4 |
Total | (25) | 38 |
Ending balance | 20 | 45 |
Other Postretirement | MEC | Receivables (Payables) With Affiliates | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (21) | (9) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (9) | (17) |
Net (gain) loss arising during the year | (13) | 7 |
Net prior service credit arising during the year | 0 | |
Net amortization | 1 | 1 |
Total | (12) | 8 |
Ending balance | (21) | (9) |
United States | Pension | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | 343 | 612 |
Prior service credit | (1) | (1) |
Total | 353 | 613 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 613 | 652 |
Net (gain) loss arising during the year | (231) | (7) |
Net amortization | (25) | (32) |
Settlement | (4) | |
Total | (260) | (39) |
Ending balance | 353 | 613 |
United States | Pension | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 390 | 600 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 600 | 661 |
Net (gain) loss arising during the year | (177) | (30) |
Net amortization | (24) | (31) |
Settlement | (9) | |
Total | (210) | (61) |
Ending balance | 390 | 600 |
United States | Pension | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (59) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (20) | (33) |
Net (gain) loss arising during the year | (44) | 13 |
Net amortization | 0 | 0 |
Settlement | 5 | |
Total | (39) | 13 |
Ending balance | (59) | (20) |
United States | Pension | MEC | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net loss (gain) | (25) | 18 |
Prior service credit | 0 | 0 |
Total | (25) | 18 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 18 | 5 |
Net (gain) loss arising during the year | (47) | 14 |
Net amortization | (1) | (1) |
Settlement | 5 | |
Total | (43) | 13 |
Ending balance | (25) | 18 |
United States | Pension | MEC | Regulatory Asset | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 22 | 21 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 21 | 19 |
Net (gain) loss arising during the year | 2 | 3 |
Net amortization | (1) | (1) |
Settlement | 0 | |
Total | 1 | 2 |
Ending balance | 22 | 21 |
United States | Pension | MEC | Regulatory Liability | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | (55) | (20) |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | (20) | (32) |
Net (gain) loss arising during the year | (40) | 12 |
Net amortization | 0 | 0 |
Settlement | 5 | |
Total | (35) | 12 |
Ending balance | (55) | (20) |
United States | Pension | MEC | Receivables (Payables) With Affiliates | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 8 | 17 |
Defined Benefit Plan, Reconciliation of Amounts Not Yet Recognized As Components of Net Periodic Benefit Cost [Roll Forward] | ||
Beginning balance | 17 | 18 |
Net (gain) loss arising during the year | (9) | (1) |
Net amortization | 0 | 0 |
Settlement | 0 | |
Total | (9) | (1) |
Ending balance | $ 8 | $ 17 |
Employee Benefit Plans - MEC _4
Employee Benefit Plans - MEC - Plan Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 6.00% | 6.30% | |
Rate that the cost trend rate gradually declines to | 5.00% | 5.00% | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.95% | 2.59% | 3.24% |
Discount rate | 2.59% | 3.24% | 4.21% |
Expected return on plan assets | 3.35% | 5.42% | 6.39% |
MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Healthcare cost trend rate assumed for next year | 5.90% | 6.20% | |
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 | 2025 | 2025 | |
MEC | Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.95% | 2.65% | 3.20% |
Discount rate | 2.65% | 3.20% | 4.15% |
Expected return on plan assets | 4.00% | 6.00% | 6.25% |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.98% | 2.60% | 3.32% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 2.45% | 2.44% | 3.22% |
Interest crediting rates for cash balance plan, year two | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year three | 2.56% | 2.25% | 2.94% |
Interest crediting rates for cash balance plan, year four | 2.83% | 2.65% | 3.02% |
Interest crediting rates for cash balance plan, year five | 2.65% | 3.02% | |
Interest crediting rates for cash balance plan, year six | 3.02% | ||
Discount rate | 2.60% | 3.32% | 4.25% |
Expected return on plan assets | 5.39% | 5.94% | 6.48% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 2.45% | 2.44% | 3.22% |
United States | MEC | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.05% | 2.75% | 3.40% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan, year one | 1.19% | 2.27% | 3.40% |
Interest crediting rates for cash balance plan, year two | 1.19% | 0.99% | 2.27% |
Interest crediting rates for cash balance plan, year three | 1.19% | 0.99% | 2.27% |
Interest crediting rates for cash balance plan, year four | 1.19% | 0.99% | 2.27% |
Interest crediting rates for cash balance plan, year five | 0.99% | 2.27% | |
Interest crediting rates for cash balance plan, year six | 2.27% | ||
Discount rate | 2.75% | 3.40% | 4.25% |
Expected return on plan assets | 5.60% | 6.25% | 6.50% |
Rate of compensation increase | 2.75% | 2.75% | 2.75% |
Interest crediting rates for cash balance plan | 1.19% | 2.27% | 3.40% |
After-tax | MEC | Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 2.39% | 4.62% | 4.62% |
Employee Benefit Plans - MEC _5
Employee Benefit Plans - MEC - Contributions and Benefit Payments (Details) $ in Millions | Dec. 31, 2021USD ($) |
Pension | United States | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | $ 13 |
2022 | 210 |
2023 | 203 |
2024 | 195 |
2025 | 193 |
2026 | 193 |
2027-2031 | 837 |
Pension | MEC | United States | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 7 |
2022 | 56 |
2023 | 55 |
2024 | 54 |
2025 | 52 |
2026 | 51 |
2027-2031 | 229 |
Other Postretirement | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | 54 |
2023 | 54 |
2024 | 54 |
2025 | 53 |
2026 | 51 |
2027-2031 | 229 |
Other Postretirement | United States | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 5 |
Other Postretirement | MEC | |
Defined Benefit Plan Disclosure [Line Items] | |
Projected benefit payments | 3 |
2022 | 21 |
2023 | 22 |
2024 | 22 |
2025 | 22 |
2026 | 22 |
2027-2031 | $ 98 |
Employee Benefit Plans - MEC _6
Employee Benefit Plans - MEC - Asset Allocations (Details) - MEC | Dec. 31, 2021 |
Minimum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 60.00% |
Minimum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 20.00% |
Minimum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 25.00% |
Minimum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 65.00% |
Maximum | Pension | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 80.00% |
Maximum | Pension | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 40.00% |
Maximum | Pension | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 15.00% |
Maximum | Other Postretirement | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 35.00% |
Maximum | Other Postretirement | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 75.00% |
Maximum | Other Postretirement | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Target allocation percentage | 5.00% |
Employee Benefit Plans - MEC _7
Employee Benefit Plans - MEC - Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Pension | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 2,795 | $ 2,824 | $ 2,656 |
Pension | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,412 | 1,172 | |
Pension | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 277 | 276 | |
Pension | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 1,135 | 896 | |
Pension | Cash equivalents | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
Pension | Cash equivalents | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Cash equivalents | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 64 | 79 | |
Pension | United States government obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
Pension | United States government obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 142 | 52 | |
Pension | United States government obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Corporate obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
Pension | Corporate obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Corporate obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 912 | 748 | |
Pension | Municipal obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
Pension | Municipal obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | Municipal obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 66 | 69 | |
Pension | Agency, asset and mortgage-backed obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 93 | ||
Pension | Agency, asset and mortgage-backed obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | ||
Pension | Agency, asset and mortgage-backed obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 93 | ||
Pension | Equity securities, United States companies | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
Pension | Equity securities, United States companies | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 135 | 224 | |
Pension | Equity securities, United States companies | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Pension | Investment funds | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 54.00% | 69.00% | |
Percentage of funds comprised of debt securities | 46.00% | 31.00% | |
Percentage of funds invested in United States securities | 89.00% | 79.00% | |
Percentage of funds invested in international securities | 11.00% | 21.00% | |
Pension | Investment funds | NAV | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 1,349 | $ 1,521 | |
Pension | Real estate funds | NAV | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | ||
Pension | MEC | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 704 | 718 | 717 |
Pension | MEC | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 372 | 282 | |
Pension | MEC | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 68 | 79 | |
Pension | MEC | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 304 | 203 | |
Pension | MEC | Level 3 | United States | |||
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 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 26 | |
Pension | MEC | Cash equivalents | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Cash equivalents | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 26 | |
Pension | MEC | Cash equivalents | Level 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | United States government obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 33 | 14 | |
Pension | MEC | United States government obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 33 | 14 | |
Pension | MEC | United States government obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | United States government obligations | Level 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | International government obligations | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | International government obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | International government obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | International government obligations | Level 3 | United States | |||
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 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 242 | 160 | |
Pension | MEC | Corporate obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Corporate obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 242 | 160 | |
Pension | MEC | Corporate obligations | Level 3 | United States | |||
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 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 18 | 17 | |
Pension | MEC | Municipal obligations | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Municipal obligations | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 18 | 17 | |
Pension | MEC | Municipal obligations | Level 3 | United States | |||
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 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 17 | 0 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 1 | United States | |||
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 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 17 | 0 | |
Pension | MEC | Agency, asset and mortgage-backed obligations | Level 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Equity securities, United States companies | Level 1, 2 and 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 65 | |
Pension | MEC | Equity securities, United States companies | Level 1 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 35 | 65 | |
Pension | MEC | Equity securities, United States companies | Level 2 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Pension | MEC | Equity securities, United States companies | Level 3 | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 0 | $ 0 | |
Pension | MEC | Investment funds | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of funds comprised of equity securities | 56.00% | 65.00% | |
Percentage of funds comprised of debt securities | 44.00% | 35.00% | |
Percentage of funds invested in United States securities | 90.00% | 82.00% | |
Percentage of funds invested in international securities | 10.00% | 18.00% | |
Pension | MEC | Investment funds | NAV | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 332 | $ 393 | |
Pension | MEC | Real estate funds | NAV | United States | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | ||
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 769 | 744 | 742 |
Other Postretirement | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 607 | 573 | |
Other Postretirement | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 437 | 340 | |
Other Postretirement | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 170 | 233 | |
Other Postretirement | Cash equivalents | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 16 | 22 | |
Other Postretirement | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 12 | 20 | |
Other Postretirement | Cash equivalents | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 2 | |
Other Postretirement | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 27 | 15 | |
Other Postretirement | United States 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 | 85 | 102 | |
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 | 85 | 102 | |
Other Postretirement | Municipal obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 43 | 82 | |
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 | 43 | 82 | |
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 | 38 | 47 | |
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 | 38 | 47 | |
Other Postretirement | Equity securities, United States companies | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States companies | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 4 | 6 | |
Other Postretirement | Equity securities, United States 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 | 55.00% | 40.00% | |
Percentage of funds comprised of debt securities | 45.00% | 60.00% | |
Percentage of funds invested in United States securities | 88.00% | 79.00% | |
Percentage of funds invested in international securities | 12.00% | 21.00% | |
Other Postretirement | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 394 | $ 299 | |
Other Postretirement | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 394 | 299 | |
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 | 161 | 167 | |
Other Postretirement | MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 308 | 278 | $ 272 |
Other Postretirement | MEC | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 308 | 278 | |
Other Postretirement | MEC | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 271 | 203 | |
Other Postretirement | MEC | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 37 | 75 | |
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 | 8 | 11 | |
Other Postretirement | MEC | Cash equivalents | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 8 | 11 | |
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 | United States government obligations | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 3 | 3 | |
Other Postretirement | MEC | United States government obligations | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 3 | 3 | |
Other Postretirement | MEC | United States government obligations | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 0 | 0 | |
Other Postretirement | MEC | United States 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 | 6 | 7 | |
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 | 6 | 7 | |
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 | 28 | 65 | |
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 | 28 | 65 | |
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 | 3 | 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 | 3 | 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 | 82.00% | 56.00% | |
Percentage of funds comprised of debt securities | 18.00% | 44.00% | |
Percentage of funds invested in United States securities | 82.00% | 56.00% | |
Percentage of funds invested in international securities | 18.00% | 44.00% | |
Other Postretirement | MEC | Investment funds | Level 1, 2 and 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | $ 260 | $ 189 | |
Other Postretirement | MEC | Investment funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets at fair value, end of year | 260 | 189 | |
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 _8
Employee Benefit Plans - MEC - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
MEC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan cost | $ 27 | $ 26 | $ 23 |
Employee Benefit Plans - MidAme
Employee Benefit Plans - MidAmerican Funding - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Pension | MidAmerican Funding, LLC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | $ 21 | $ 7 | $ 4 |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | 6 | (10) | (11) |
Other Postretirement | MidAmerican Funding, LLC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net periodic benefit cost (credit) | $ 2 | $ (3) | $ (2) |
Employee Benefit Plans - NPC (D
Employee Benefit Plans - NPC (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 14,000,000 | $ 3,000,000 | |
Other assets | 60,000,000 | 20,000,000 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (5,000,000) | (34,000,000) | |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 13,000,000 | 13,000,000 | |
Other assets | 204,000,000 | 43,000,000 | |
Other current liabilities | (13,000,000) | (13,000,000) | |
Other long-term liabilities | (173,000,000) | (283,000,000) | |
United States | Other Postretirement | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | $ 0 |
United States | Other Postretirement | NPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 8,000,000 | 4,000,000 | |
United States | Qualified Plan | Pension | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | 0 |
United States | Qualified Plan | Pension | NPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 42,000,000 | 8,000,000 | |
United States | Nonqualified Plan | Other Pension Plan | NPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1,000,000 | 1,000,000 | $ 1,000,000 |
United States | 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) | |
United States | Nonqualified Plan | Other Pension Plan | NPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | $ (8,000,000) | $ (9,000,000) |
Employee Benefit Plans - SPPC (
Employee Benefit Plans - SPPC (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | $ 14,000,000 | $ 3,000,000 | |
Other assets | 60,000,000 | 20,000,000 | |
Other current liabilities | 0 | 0 | |
Other long-term liabilities | (5,000,000) | (34,000,000) | |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 13,000,000 | 13,000,000 | |
Other assets | 204,000,000 | 43,000,000 | |
Other current liabilities | (13,000,000) | (13,000,000) | |
Other long-term liabilities | (173,000,000) | (283,000,000) | |
United States | Other Postretirement | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1,000,000 | 0 | $ 0 |
United States | Other Postretirement | SPPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | (10,000,000) | (13,000,000) | |
United States | Qualified Plan | Pension | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 0 | 0 | 0 |
United States | Qualified Plan | Pension | SPPC | Other non-current assets | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other assets | 62,000,000 | 26,000,000 | |
United States | Nonqualified Plan | Other Pension Plan | SPPC | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 1,000,000 | 1,000,000 | $ 1,000,000 |
United States | 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) | |
United States | Nonqualified Plan | Other Pension Plan | SPPC | Other long-term liabilities | NV Energy | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other long-term liabilities | $ (7,000,000) | $ (8,000,000) |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Distribution of net assets | $ 699 | |||
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 14 | 3 | ||
Net periodic benefit cost (credit) | 6 | (10) | $ (11) | |
EEGH | MidAmerican Energy Pension Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 18 | 3 | ||
EEGH | MidAmerican Energy Retiree Health and Welfare Plan | Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 10 | 2 | ||
EEGH | BHE GT&S, LLC Defined Contribution Savings Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined contribution plan, employer contribution | $ 5 | 1 | ||
EEGH | Dominion Energy Pension Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | (14) | (8) | ||
EEGH | Dominion Energy Retiree Health and Welfare Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | $ (5) | (4) | ||
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 | |||
EEGH | Disposed of by Means Other than Sale | Dominion Energy Pension Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | (14) | |||
EEGH | Disposed of by Means Other than Sale | Dominion Energy Retiree Health and Welfare Plan | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost (credit) | $ (1) |
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, 2020USD ($) | |
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 - Voluntary Retirement Program (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2019 | |
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.24% | 2.95% | 2.59% | |
EEGH | Voluntary Retirement Program | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Cost of providing special and contractual termination benefits | $ 74 | |||
Cost of providing special and contractual termination benefits, after-tax | 58 | |||
EEGH | Voluntary Retirement Program | Operations and maintenance expense | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Cost of providing special and contractual termination benefits | 41 | |||
EEGH | Voluntary Retirement Program | Other nonoperating income (expense) | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Cost of providing special and contractual termination benefits | 1 | |||
EEGH | Voluntary Retirement Program | Income (loss) from discontinued operations, net | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Cost of providing special and contractual termination benefits | $ 32 | |||
EEGH | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.10% | |||
EEGH | Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.05% |
Employee Benefit Plans - EEGH_4
Employee Benefit Plans - EEGH - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Postretirement | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 12 | $ 7 | $ 8 |
Interest cost | 19 | 21 | 27 |
Expected return on plan assets | (22) | (34) | (40) |
Settlement | 0 | 0 | 0 |
Net amortization | (3) | (4) | (6) |
Net periodic benefit cost (credit) | 6 | (10) | (11) |
United States | Pension | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 30 | 17 | 16 |
Interest cost | 78 | 93 | 111 |
Expected return on plan assets | (134) | (140) | (154) |
Settlement | 3 | 0 | 0 |
Net amortization | 25 | 32 | 31 |
Net periodic benefit cost (credit) | $ 2 | 2 | 4 |
United States | Pension | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 5 | 6 | |
Interest cost | 8 | 11 | |
Expected return on plan assets | (47) | (54) | |
Settlement | 0 | 1 | |
Net amortization | 5 | 7 | |
Net periodic benefit cost (credit) | (29) | (29) | |
United States | Other Postretirement | EEGH | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 1 | 1 | |
Interest cost | 4 | 5 | |
Expected return on plan assets | (16) | (16) | |
Settlement | 0 | 1 | |
Net amortization | (3) | (2) | |
Net periodic benefit cost (credit) | $ (14) | $ (11) |
Employee Benefit Plans - EEGH_5
Employee Benefit Plans - EEGH - Plan Assumptions (Details) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Healthcare cost trend rate assumed for next year | 6.00% | 6.30% | ||
Rate that the cost trend rate gradually declines to | 5.00% | 5.00% | ||
Pension | EEGH | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.10% | |||
Other Postretirement | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 2.95% | 2.59% | 3.24% | |
Expected return on plan assets | 3.35% | 5.42% | 6.39% | |
Other Postretirement | EEGH | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.05% | |||
United States | Pension | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 2.98% | 2.60% | 3.32% | |
Expected return on plan assets | 5.39% | 5.94% | 6.48% | |
Rate of compensation increase | 2.75% | 2.75% | 2.75% | |
United States | Pension | EEGH | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected return on plan assets | 8.60% | 8.65% | ||
Rate of compensation increase | 4.73% | 4.55% | ||
United States | Pension | EEGH | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.16% | 4.10% | ||
United States | Pension | EEGH | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.63% | 4.42% | ||
United States | Other Postretirement | EEGH | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.44% | |||
Expected return on plan assets | 8.50% | 8.50% | ||
Healthcare cost trend rate assumed for next year | 6.50% | 6.50% | ||
Rate that the cost trend rate gradually declines to | 5.00% | 5.00% | ||
United States | Other Postretirement | EEGH | Minimum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.05% | |||
United States | Other Postretirement | EEGH | Maximum | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.37% |
Employee Benefit Plans - EEGH_6
Employee Benefit Plans - EEGH - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
EEGH | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined contribution plan cost | $ 3 | $ 4 |
Asset Retirement Obligations -
Asset Retirement Obligations - Asset Retirement Obligation By Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,214 | $ 7,475 | |
Asset retirement obligations | 1,340 | 1,341 | $ 1,272 |
Fossil fuel facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 466 | 529 | |
Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 427 | 376 | |
Wind generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 299 | 273 | |
Solar generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 25 | 24 | |
Offshore pipeline facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 14 | 16 | |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 109 | 123 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,424 | 2,435 | |
Quad Cities Station nuclear decommissioning trust funds | |||
Asset Retirement Obligations By Type [Line Items] | |||
Nuclear decommissioning trust | $ 768 | $ 676 |
Asset Retirement Obligations _2
Asset Retirement Obligations - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Change in estimated costs | 81 | 46 |
Acquisitions | 0 | 122 |
Additions | 15 | 51 |
Retirements | (144) | (201) |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Current liabilities | 130 | 184 |
Other long-term liabilities | 1,210 | 1,157 |
Total ARO liability | 1,340 | 1,341 |
Fossil fuel facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 529 | |
Ending Balance | 466 | 529 |
Total ARO liability | 466 | 529 |
MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 818 | 839 |
Change in estimated costs | 35 | 47 |
Additions | 6 | 23 |
Retirements | (103) | (124) |
Accretion | 31 | 33 |
Ending Balance | 787 | 818 |
Current liabilities | 73 | 109 |
Other long-term liabilities | 714 | 709 |
Total ARO liability | 787 | 818 |
MEC | Fossil fuel facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 255 | |
Ending Balance | 161 | 255 |
Total ARO liability | $ 161 | $ 255 |
Asset Retirement Obligations _3
Asset Retirement Obligations - PAC - Asset Retirement Obligations By Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 6,960 | $ 7,221 |
PAC | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | 2,650 | 2,727 |
PAC | Cost of removal | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 1,187 | $ 1,125 |
Asset Retirement Obligations _4
Asset Retirement Obligations - PAC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Change in estimated costs | 81 | 46 |
Additions | 15 | 51 |
Retirements | (144) | (201) |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Current liabilities | 130 | 184 |
Other long-term liabilities | 1,210 | 1,157 |
Total ARO liability | 1,340 | 1,341 |
PAC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 270 | 257 |
Change in estimated costs | 40 | (11) |
Additions | 0 | 25 |
Retirements | (15) | (10) |
Accretion | 9 | 9 |
Ending Balance | 304 | 270 |
Current liabilities | 5 | 13 |
Other long-term liabilities | 299 | 257 |
Total ARO liability | $ 304 | $ 270 |
Asset Retirement Obligations _5
Asset Retirement Obligations - MEC - Asset Retirement Obligations By Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,214 | $ 7,475 | |
Asset retirement obligations | 1,340 | 1,341 | $ 1,272 |
Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 427 | 376 | |
Fossil fuel facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 466 | 529 | |
Wind generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 299 | 273 | |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 109 | 123 | |
MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 787 | 818 | $ 839 |
MEC | Quad Cities Station | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 427 | 376 | |
MEC | Fossil fuel facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 161 | 255 | |
MEC | Wind generating facilities | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 197 | 185 | |
MEC | Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 2 | 2 | |
Quad Cities Station | MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Quad Cities Station nuclear decommissioning trust funds | 768 | 676 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,424 | 2,435 | |
Cost of removal | MEC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 394 | $ 466 |
Asset Retirement Obligations _6
Asset Retirement Obligations - MEC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Change in estimated costs | 81 | 46 |
Additions | 15 | 51 |
Asset Retirement Obligation, Liabilities Settled | (144) | (201) |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Current liabilities | 130 | 184 |
Other long-term liabilities | 1,210 | 1,157 |
Total ARO liability | 1,340 | 1,341 |
MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 818 | 839 |
Change in estimated costs | 35 | 47 |
Additions | 6 | 23 |
Asset Retirement Obligation, Liabilities Settled | (103) | (124) |
Accretion | 31 | 33 |
Ending Balance | 787 | 818 |
Current liabilities | 73 | 109 |
Other long-term liabilities | 714 | 709 |
Total ARO liability | 787 | 818 |
Fossil fuel facilities | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 529 | |
Ending Balance | 466 | 529 |
Total ARO liability | 466 | 529 |
Fossil fuel facilities | MEC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 255 | |
Ending Balance | 161 | 255 |
Total ARO liability | $ 161 | $ 255 |
Asset Retirement Obligations _7
Asset Retirement Obligations - NPC - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,214 | $ 7,475 | |
Asset retirement obligations | 1,340 | 1,341 | $ 1,272 |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 109 | 123 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,424 | 2,435 | |
NPC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 1,149 | 1,213 | |
Asset retirement obligations | 68 | 72 | $ 74 |
NPC | Waste water remediation | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 37 | 36 | |
NPC | Evaporative ponds and dry ash landfills | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 13 | 13 | |
NPC | Solar | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 3 | 3 | |
NPC | Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 15 | 20 | |
NPC | Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 348 | $ 340 |
Asset Retirement Obligations _8
Asset Retirement Obligations - NPC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Change in estimated costs | 81 | 46 |
Retirements | (144) | (201) |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Current liabilities | 130 | 184 |
Other long-term liabilities | 1,210 | 1,157 |
Total ARO liability | 1,340 | 1,341 |
NPC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 72 | 74 |
Change in estimated costs | 0 | 9 |
Retirements | (6) | (14) |
Accretion | 2 | 3 |
Ending Balance | 68 | 72 |
Current liabilities | 19 | 25 |
Other long-term liabilities | 49 | 47 |
Total ARO liability | $ 68 | $ 72 |
Asset Retirement Obligations _9
Asset Retirement Obligations - SPPC - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | $ 7,214 | $ 7,475 | |
Asset retirement obligations | 1,340 | 1,341 | $ 1,272 |
Other | |||
Asset Retirement Obligations By Type [Line Items] | |||
Asset retirement obligations | 109 | 123 | |
Cost of removal | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 2,424 | 2,435 | |
SPPC | |||
Asset Retirement Obligations By Type [Line Items] | |||
Regulatory liabilities | 463 | 497 | |
Asset retirement obligations | 11 | 11 | $ 10 |
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 | $ 201 | $ 197 |
Asset Retirement Obligations_10
Asset Retirement Obligations - SPPC - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Other long-term liabilities | 1,210 | 1,157 |
SPPC | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 11 | 10 |
Accretion | 0 | 1 |
Ending Balance | 11 | 11 |
Other long-term liabilities | $ 11 | $ 11 |
Asset Retirement Obligations_11
Asset Retirement Obligations - EEGH - Asset Retirement Obligation by Type (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 6,960 | $ 7,221 |
EEGH | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | 645 | 669 |
Cost of removal | EEGH | ||
Asset Retirement Obligations By Type [Line Items] | ||
Regulatory liabilities | $ 73 | $ 88 |
Asset Retirement Obligations_12
Asset Retirement Obligations - EEGH - Change in Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | $ 1,341 | $ 1,272 |
Change in estimated costs | 81 | 46 |
Additions | 15 | 51 |
Retirements | (144) | (201) |
Accretion | 47 | 51 |
Ending Balance | 1,340 | 1,341 |
Current liabilities | 130 | 184 |
Other long-term liabilities | 1,210 | 1,157 |
Total ARO liability | 1,340 | 1,341 |
EEGH | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning Balance | 71 | 89 |
Change in estimated costs | 0 | (51) |
Additions | 0 | 48 |
Retirements | (17) | (3) |
Disposal of Questar Pipeline Group | 0 | (16) |
Accretion | 1 | 4 |
Ending Balance | 55 | 71 |
Current liabilities | 33 | 36 |
Other long-term liabilities | 22 | 35 |
Total ARO liability | $ 55 | $ 71 |
Risk Management and Hedging A_3
Risk Management and Hedging Activities - PAC - Balance Sheet Location (Details) - PAC - Commodity derivatives - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | $ 53 | $ (17) | ||
Cash collateral receivable | 5 | 24 | ||
Total derivatives - net basis | 58 | 7 | ||
Other current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | 76 | 27 | ||
Cash collateral receivable | 0 | 0 | ||
Total derivatives - net basis | 76 | 27 | ||
Other non-current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | 20 | 6 | ||
Cash collateral receivable | 0 | 0 | ||
Total derivatives - net basis | 20 | 6 | ||
Other current liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | (36) | (22) | ||
Cash collateral receivable | 5 | 15 | ||
Total derivatives - net basis | (31) | (7) | ||
Other long-term liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, fair value, net | (7) | (28) | ||
Cash collateral receivable | 0 | 9 | ||
Total derivatives - net basis | (7) | (19) | ||
Not designated as hedging contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 104 | 36 | ||
Derivative liability, not subject to master netting arrangement | (51) | (53) | ||
Derivative, fair value, net | 53 | (17) | ||
Net regulatory asset (liability) on derivative contracts | (53) | 17 | $ 62 | $ 96 |
Not designated as hedging contracts | Other current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 81 | 29 | ||
Derivative liability, not subject to master netting arrangement | (5) | (2) | ||
Derivative, fair value, net | 76 | 27 | ||
Not designated as hedging contracts | Other non-current assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 21 | 6 | ||
Derivative liability, not subject to master netting arrangement | (1) | 0 | ||
Derivative, fair value, net | 20 | 6 | ||
Not designated as hedging contracts | Other current liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, not subject to master netting arrangement | 2 | 1 | ||
Derivative liability, not subject to master netting arrangement | (38) | (23) | ||
Derivative, fair value, net | (36) | (22) | ||
Not designated as hedging contracts | 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) | (28) | ||
Derivative, fair value, net | $ (7) | $ (28) |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Regulatory Assets (Liabilities), Net, Derivatives [Roll Forward] | |||
Beginning balance | $ 17 | $ 62 | $ 96 |
Changes in fair value recognized in regulatory assets | (171) | (11) | (37) |
Net (losses) gains reclassified to operating revenue | (23) | 3 | (34) |
Net gains (losses) reclassified to energy costs | 124 | (37) | 37 |
Ending balance | $ (53) | $ 17 | $ 62 |
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, 2021MWhDth | Dec. 31, 2020MWhDth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Electricity purchases (sales), net | MWh | 2 | (1) |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 106 | 100 |
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, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 37 | $ 51 |
Collateral already posted, aggregate fair value | 5 | 24 |
Additional collateral, aggregate fair value | $ 23 | $ 25 |
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, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | $ 4 | $ 26 |
Derivative liability, not subject to master netting arrangement | (117) | (11) |
Derivative, fair value, net | (113) | 15 |
Net regulatory asset (liability) on derivative contracts | 113 | (15) |
Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 4 | 26 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Derivative, fair value, net | 4 | 26 |
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 | (55) | (3) |
Derivative, fair value, net | (55) | (3) |
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 | (62) | (8) |
Derivative, fair value, net | $ (62) | $ (8) |
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, 2021DthMWh | Dec. 31, 2020MWhDth |
Electricity purchases (sales), 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 | 119 | 124 |
Risk Management and Hedging A_9
Risk Management and Hedging Activities - NPC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Commodity derivatives | NPC | ||
Derivative [Line Items] | ||
Derivative, net liability position, aggregate fair value | $ 6 | $ 3 |
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, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | $ 2 | $ 9 |
Derivative liability, not subject to master netting arrangement | (35) | (2) |
Derivative, fair value, net | (33) | 7 |
Net regulatory asset (liability) on derivative contracts | 33 | (7) |
Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 2 | 9 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Derivative, fair value, net | 2 | 9 |
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 | (16) | 0 |
Derivative, fair value, net | (16) | 0 |
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 | (19) | (2) |
Derivative, fair value, net | $ (19) | $ (2) |
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, 2021MWhDth | Dec. 31, 2020MWhDth |
Electricity purchases (sales), net | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | MWh | 1 | 0 |
Natural gas purchases | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, nonmonetary notional amount | Dth | 53 | 54 |
Risk Management and Hedging _12
Risk Management and Hedging Activities -SPPC - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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, 2021 | Dec. 31, 2020 | |
EGTS | ||
Derivative [Line Items] | ||
Number of customers serviced | 278 | |
Revenue | Customer concentration risk | EEGH | Export customers | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 40.00% | 34.00% |
Revenue | Customer concentration risk | EEGH | Eastern Energy's largest customer | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 20.00% | 17.00% |
Revenue, product and service | Customer concentration risk | EGTS | Storage and transportation | Directly to consumer | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 98.00% | |
Revenue, product and service | Customer concentration risk | EGTS | Ten largest customers | Storage and transportation | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 38.00% | |
Revenue, product and service | Customer concentration risk | EGTS | Thirty largest customers | Storage and transportation | ||
Derivative [Line Items] | ||
Concentration risk, percentage | 71.00% |
Risk Management and Hedging _14
Risk Management and Hedging Activities - EEGH - Schedule of Notional Amounts (Details) - EEGH € in Millions, Dth in Millions, $ in Millions | Dec. 31, 2021USD ($)Dth | Dec. 31, 2021EUR (€)Dth | Dec. 31, 2020USD ($)Dth | Dec. 31, 2020EUR (€)Dth |
Interest rate contracts | ||||
Derivative [Line Items] | ||||
Notional amount | $ | $ 0 | $ 500 | ||
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 | 2 | 2 | 5 | 5 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (47) | $ (21) |
Assets, fair value | 10,843 | 9,918 |
Derivative liability, offset | 73 | 56 |
Derivative liability | (277) | (121) |
Cash collateral receivable (payable), offset against derivative positions | 26 | 35 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Derivative liability | (2) | (6) |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Derivative liability | (123) | (152) |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 93 | 197 |
Derivative liability | (225) | (19) |
Mortgage loans held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,263 | 2,001 |
Mortgage loans held for sale | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Mortgage loans held for sale | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,263 | 2,001 |
Mortgage loans held for sale | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
United States government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
United States government obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
United States government obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
United States government obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
United States companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
United States companies | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
International companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 7,703 | 5,906 |
International companies | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 7,703 | 5,906 |
International companies | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
International companies | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Level 3 | ||
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 | (47) | (21) |
Derivative assets | 302 | 188 |
Derivative liability, offset | 73 | 56 |
Derivative liability | (266) | (54) |
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 | 5 | 1 |
Derivative liability, not subject to master netting arrangement | (2) | (1) |
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 | 271 | 73 |
Derivative liability, not subject to master netting arrangement | (113) | (90) |
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 | 73 | 135 |
Derivative liability, not subject to master netting arrangement | (224) | (19) |
Foreign currency exchange rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 3 | 20 |
Derivative liability | (3) | (2) |
Foreign currency exchange rate 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 |
Derivative liability, not subject to master netting arrangement | 0 | 0 |
Foreign currency exchange rate derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 3 | 20 |
Derivative liability, not subject to master netting arrangement | (3) | (2) |
Foreign currency exchange rate derivatives | 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 |
Interest rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 24 | 62 |
Derivative liability | (8) | (65) |
Interest rate 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 | (5) |
Interest rate derivatives | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 3 | 0 |
Derivative liability, not subject to master netting arrangement | (7) | (60) |
Interest rate derivatives | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 20 | 62 |
Derivative liability, not subject to master netting arrangement | $ (1) | $ 0 |
Fair Value Measurements - Level
Fair Value Measurements - Level 3 (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Commodity Derivatives | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ 116 | $ 97 | $ 99 |
Changes included in earnings | (43) | (10) | 10 |
Changes in fair value recognized in OCI | (13) | 0 | (1) |
Changes in fair value recognized in net regulatory assets | (118) | (17) | (26) |
Purchases | (76) | 5 | 6 |
Settlements | (34) | 41 | 9 |
Transfers to Level 2 | 17 | 0 | 0 |
Ending balance | (151) | 116 | 97 |
Interest Rate Derivatives | |||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | 62 | 14 | 10 |
Changes included in earnings | (43) | 48 | 4 |
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 to Level 2 | 0 | 0 | 0 |
Ending balance | $ 19 | $ 62 | $ 14 |
Fair Value Measurements - Debt
Fair Value Measurements - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 57,189 | $ 60,633 |
Fair Value Measurements - PAC (
Fair Value Measurements - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (47) | $ (21) |
Assets, fair value | 10,843 | 9,918 |
Derivative liability, offset | 73 | 56 |
Derivative liability | (277) | (121) |
Cash collateral receivable (payable), offset against derivative positions | 26 | 35 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Derivative liability | (2) | (6) |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Derivative liability | (123) | (152) |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 93 | 197 |
Derivative liability | (225) | (19) |
Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (47) | (21) |
Derivative assets | 302 | 188 |
Derivative liability, offset | 73 | 56 |
Derivative liability | (266) | (54) |
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 | 5 | 1 |
Derivative liability, not subject to master netting arrangement | 2 | 1 |
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 | 271 | 73 |
Derivative liability, not subject to master netting arrangement | 113 | 90 |
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 | 73 | 135 |
Derivative liability, not subject to master netting arrangement | 224 | 19 |
Money market mutual funds | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
PAC | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 304 | 64 |
PAC | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 208 | 31 |
PAC | Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 104 | 36 |
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 | 5 | 24 |
PAC | Commodity derivatives | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (8) | (3) |
Derivative assets | 96 | 33 |
Derivative liability, offset | 13 | 27 |
Derivative liability | (38) | (26) |
Cash collateral receivable (payable), offset against derivative positions | 5 | 24 |
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 | 104 | 36 |
Derivative liability, not subject to master netting arrangement | 51 | 53 |
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 | 181 | 6 |
PAC | Money market mutual funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 181 | 6 |
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 | 27 | 25 |
PAC | Investment funds | Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 27 | 25 |
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, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 57,189 | 60,633 |
PAC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 8,730 | 8,612 |
PAC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 10,374 | $ 10,995 |
Fair Value Measurements - MEC (
Fair Value Measurements - MEC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | $ (47) | $ (21) |
Assets, fair value | 10,843 | 9,918 |
Derivative liability, offset | 73 | 56 |
Cash collateral receivable (payable), offset against derivative positions | 26 | 35 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 93 | 197 |
Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (47) | (21) |
Derivative liability, offset | 73 | 56 |
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 | 5 | 1 |
Derivative liability, not subject to master netting arrangement | (2) | (1) |
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 | 271 | 73 |
Derivative liability, not subject to master netting arrangement | (113) | (90) |
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 | 73 | 135 |
Derivative liability, not subject to master netting arrangement | (224) | (19) |
MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, offset | (7) | (5) |
Assets, fair value | 1,041 | 738 |
Cash collateral receivable (payable), offset against derivative positions | 5 | 0 |
MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 916 | 648 |
MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 129 | 90 |
MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 3 | 5 |
MEC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 28 | 4 |
Derivative asset, offset | (7) | (5) |
Derivative liability, not subject to master netting arrangement | (2) | (2) |
Derivative liability, offset | 12 | 5 |
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 | 0 | 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 | 32 | 4 |
Derivative liability, not subject to master netting arrangement | (6) | (4) |
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 | 3 | 5 |
Derivative liability, not subject to master netting arrangement | (8) | (3) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 228 | 41 |
Money market mutual funds | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 228 | 41 |
Money market mutual funds | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
US Treasury Securities [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
US Treasury Securities [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
US Treasury Securities [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
US Treasury Securities [Member] | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
US Treasury Securities [Member] | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 232 | 200 |
US Treasury Securities [Member] | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
US Treasury Securities [Member] | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
International government obligations | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 5 |
International government obligations | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Corporate obligations | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 90 | 73 |
Corporate obligations | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Municipal obligations | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 3 | 2 |
Municipal obligations | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Agency, asset and mortgage-backed obligations | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 2 | 6 |
Agency, asset and mortgage-backed obligations | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
United States companies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
United States companies | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
United States companies | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 428 | 381 |
United States companies | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
United States companies | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Foreign Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 7,703 | 5,906 |
Foreign Equity Securities [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 7,703 | 5,906 |
Foreign Equity Securities [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Foreign Equity Securities [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Foreign Equity Securities [Member] | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 10 | 9 |
Foreign Equity Securities [Member] | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 10 | 9 |
Foreign Equity Securities [Member] | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Foreign Equity Securities [Member] | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | MEC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 18 | 17 |
Investment funds | MEC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 18 | 17 |
Investment funds | MEC | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | MEC | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | $ 0 | $ 0 |
Fair Value Measurements - MEC -
Fair Value Measurements - MEC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 57,189 | 60,633 |
MEC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 7,721 | 7,210 |
Long-term debt, fair value | $ 9,130 | |
MEC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 9,037 |
Fair Value Measurements - MidAm
Fair Value Measurements - MidAmerican Funding - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 57,189 | 60,633 |
MidAmerican Funding, LLC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 7,961 | 7,450 |
Long-term debt, fair value | $ 9,466 | |
MidAmerican Funding, LLC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 9,350 |
Fair Value Measurements - NPC (
Fair Value Measurements - NPC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 10,843 | $ 9,918 |
Derivative liability | (277) | (121) |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Derivative liability | (2) | (6) |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Derivative liability | (123) | (152) |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 93 | 197 |
Derivative liability | (225) | (19) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Level 3 | ||
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 assets | 302 | 188 |
Derivative liability | (266) | (54) |
NPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 41 | 49 |
NPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 37 | 23 |
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 | 4 | 26 |
NPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 34 | 21 |
NPC | Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 34 | 21 |
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 | 2 |
NPC | Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 3 | 2 |
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 | 4 | 26 |
Derivative liability | (117) | (11) |
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 | 4 | 26 |
Derivative liability | $ (117) | $ (11) |
Fair Value Measurements - NPC -
Fair Value Measurements - NPC - Level 3 (Details) - NPC - Commodity Derivatives - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ 15 | $ (8) | $ 3 |
Changes in fair value recognized in net regulatory assets | (90) | (17) | (21) |
Settlements | (38) | 40 | 10 |
Ending balance | $ (113) | $ 15 | $ (8) |
Fair Value Measurements - NPC_2
Fair Value Measurements - NPC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 57,189 | 60,633 |
NPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 2,499 | 2,496 |
NPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,067 | $ 3,245 |
Fair Value Measurements - SPPC
Fair Value Measurements - SPPC (Details) - Recurring - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 10,843 | $ 9,918 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 93 | 197 |
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 | 5 | 1 |
Derivative liability, not subject to master netting arrangement | (2) | (1) |
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 | 271 | 73 |
Derivative liability, not subject to master netting arrangement | (113) | (90) |
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 | 73 | 135 |
Derivative liability, not subject to master netting arrangement | (224) | (19) |
Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 554 | 873 |
Money market mutual funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Money market mutual funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 237 | 201 |
Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
Investment funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | 0 |
SPPC | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 13 | 26 |
SPPC | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 11 | 17 |
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 | 2 | 9 |
SPPC | Commodity derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability, not subject to master netting arrangement | (35) | (2) |
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 | (35) | (2) |
SPPC | Commodity Derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset, not subject to master netting arrangement | 2 | 9 |
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 | 2 | 9 |
SPPC | Money market mutual funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 10 | 17 |
SPPC | Money market mutual funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 10 | 17 |
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 | |
SPPC | Investment funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 1 | |
SPPC | Investment funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | 0 | |
SPPC | Investment funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment funds | $ 0 |
Fair Value Measurements - SPP_2
Fair Value Measurements - SPPC - Level 3 (Details) - Commodity Derivatives - SPPC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning balance | $ 7 | $ (1) | $ 2 |
Changes in fair value recognized in net regulatory assets | (25) | (2) | (5) |
Settlements | (15) | 10 | 2 |
Ending balance | $ (33) | $ 7 | $ (1) |
Fair Value Measurements - SPP_3
Fair Value Measurements - SPPC - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | 57,189 | 60,633 |
SPPC | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 1,164 | 1,164 |
SPPC | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 1,316 | $ 1,358 |
Fair Value Measurements - EEGH
Fair Value Measurements - EEGH (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | $ 13 | $ 0 |
Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 10,843 | 9,918 |
Derivative liability | (277) | (121) |
Recurring | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 237 | 201 |
Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 16 | 20 |
Derivative liability | (3) | (9) |
Recurring | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 13 | |
Level 1 | Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 9,160 | 7,562 |
Derivative liability | (2) | (6) |
Level 1 | Recurring | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 237 | 201 |
Level 1 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 13 | 0 |
Derivative liability | 0 | 0 |
Level 1 | Recurring | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 13 | |
Level 2 | Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 1,637 | 2,180 |
Derivative liability | (123) | (152) |
Level 2 | Recurring | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Level 2 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 3 | 20 |
Derivative liability | (3) | (9) |
Level 2 | Recurring | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | |
Level 3 | Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Assets, fair value | 93 | 197 |
Derivative liability | (225) | (19) |
Level 3 | Recurring | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | 0 |
Level 3 | Recurring | 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 | Recurring | EEGH | Investment funds | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investment funds | 0 | |
Foreign currency exchange rate derivatives | Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | 20 |
Derivative liability | (3) | (2) |
Foreign currency exchange rate derivatives | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | 20 |
Derivative liability | (3) | (2) |
Foreign currency exchange rate derivatives | Level 1 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liability | 0 | 0 |
Foreign currency exchange rate derivatives | Level 2 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 3 | 20 |
Derivative liability | (3) | (2) |
Foreign currency exchange rate derivatives | Level 3 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liability | 0 | 0 |
Commodity derivatives | Recurring | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative assets | 302 | 188 |
Derivative liability | $ (266) | (54) |
Commodity derivatives | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | (1) | |
Commodity derivatives | Level 1 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | 0 | |
Commodity derivatives | Level 2 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | (1) | |
Commodity derivatives | Level 3 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | 0 | |
Interest rate contracts | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | (6) | |
Interest rate contracts | Level 1 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | 0 | |
Interest rate contracts | Level 2 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | (6) | |
Interest rate contracts | Level 3 | Recurring | EEGH | ||
Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative liability | $ 0 |
Fair Value Measurements - EEG_2
Fair Value Measurements - EEGH - Debt (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 49,762 | $ 49,866 |
EEGH | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 3,906 | 4,425 |
Long-term debt, fair value | $ 4,266 | $ 5,012 |
Commitments and Contingencies -
Commitments and Contingencies - Commitments Table (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Contractual Obligation [Line Items] | |||
2022 | $ 4,360 | ||
2023 | 2,914 | ||
2024 | 2,578 | ||
2025 | 1,582 | ||
2026 | 1,381 | ||
Thereafter | 16,377 | ||
Purchase obligation | 29,192 | ||
MidAmerican Funding | |||
Contractual Obligation [Line Items] | |||
Coal transportation costs, railroad | 76 | $ 90 | $ 123 |
Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 2,475 | ||
2023 | 1,635 | ||
2024 | 1,422 | ||
2025 | 1,164 | ||
2026 | 1,054 | ||
Thereafter | 11,964 | ||
Purchase obligation | 19,714 | ||
Construction commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 1,329 | ||
2023 | 831 | ||
2024 | 776 | ||
2025 | 87 | ||
2026 | 4 | ||
Thereafter | 0 | ||
Purchase obligation | 3,027 | ||
Easements | |||
Contractual Obligation [Line Items] | |||
2022 | 82 | ||
2023 | 84 | ||
2024 | 80 | ||
2025 | 82 | ||
2026 | 83 | ||
Thereafter | 2,870 | ||
Purchase obligation | 3,281 | ||
Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 474 | ||
2023 | 364 | ||
2024 | 300 | ||
2025 | 249 | ||
2026 | 240 | ||
Thereafter | 1,543 | ||
Purchase obligation | $ 3,170 |
Commitments and Contingencies_2
Commitments and Contingencies - Narrative (Details) naturalGasProducer in Thousands, a in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2020USD ($)anaturalGasProducer | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Loss Contingencies [Line Items] | ||||
Capital expenditures required by hydroelectric licenses, period | 10 years | |||
MidAmerican Funding | ||||
Loss Contingencies [Line Items] | ||||
Coal transportation costs, railroad | $ 76 | $ 90 | $ 123 | |
PAC | ||||
Loss Contingencies [Line Items] | ||||
Capital expenditures required by hydroelectric licenses | 193 | |||
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 | |||
Klamath relicensing and settlement costs | 14 | |||
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 | $ 136 |
Commitments and Contingencies_3
Commitments and Contingencies - PAC - Legal (Details) - PAC - 2020 Wildfires naturalGasProducer in Thousands, a in Millions, $ in Millions | 1 Months Ended | |
Sep. 30, 2020USD ($)anaturalGasProducer | Dec. 31, 2021USD ($) | |
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 | $ 136 |
Commitments and Contingencies_4
Commitments and Contingencies - PAC - Hydroelectric (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Hydroelectric [Line Items] | |
Capital expenditures required by hydroelectric licenses, period | 10 years |
PAC | |
Hydroelectric [Line Items] | |
Capital expenditures required by hydroelectric licenses | $ 193 |
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 |
Klamath relicensing and settlement costs | $ 14 |
Commitments and Contingencies_5
Commitments and Contingencies - PAC - Commitments Tables (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Contractual Obligation [Line Items] | |||
2022 | $ 4,360 | ||
2023 | 2,914 | ||
2024 | 2,578 | ||
2025 | 1,582 | ||
2026 | 1,381 | ||
Thereafter | 16,377 | ||
Purchase obligation | 29,192 | ||
Construction commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 1,329 | ||
2023 | 831 | ||
2024 | 776 | ||
2025 | 87 | ||
2026 | 4 | ||
Thereafter | 0 | ||
Purchase obligation | 3,027 | ||
Easements | |||
Contractual Obligation [Line Items] | |||
2022 | 82 | ||
2023 | 84 | ||
2024 | 80 | ||
2025 | 82 | ||
2026 | 83 | ||
Thereafter | 2,870 | ||
Purchase obligation | 3,281 | ||
Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 474 | ||
2023 | 364 | ||
2024 | 300 | ||
2025 | 249 | ||
2026 | 240 | ||
Thereafter | 1,543 | ||
Purchase obligation | 3,170 | ||
PAC | |||
Contractual Obligation [Line Items] | |||
2022 | 1,250 | ||
2023 | 877 | ||
2024 | 711 | ||
2025 | 461 | ||
2026 | 442 | ||
Thereafter | 3,860 | ||
Purchase obligation | $ 7,601 | ||
Maximum percentage of energy sources for which a share of operating costs and debt service is required | 5.00% | 5.00% | 5.00% |
PAC | Purchased electricity contracts - commercially operable | |||
Contractual Obligation [Line Items] | |||
2022 | $ 372 | ||
2023 | 223 | ||
2024 | 212 | ||
2025 | 194 | ||
2026 | 192 | ||
Thereafter | 2,190 | ||
Purchase obligation | 3,383 | ||
PAC | Fuel contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 586 | ||
2023 | 366 | ||
2024 | 310 | ||
2025 | 134 | ||
2026 | 129 | ||
Thereafter | 468 | ||
Purchase obligation | 1,993 | ||
PAC | Construction commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 51 | ||
2023 | 106 | ||
2024 | 27 | ||
2025 | 0 | ||
2026 | 0 | ||
Thereafter | 0 | ||
Purchase obligation | 184 | ||
PAC | Transmission | |||
Contractual Obligation [Line Items] | |||
2022 | 108 | ||
2023 | 106 | ||
2024 | 90 | ||
2025 | 62 | ||
2026 | 51 | ||
Thereafter | 431 | ||
Purchase obligation | 848 | ||
PAC | Easements | |||
Contractual Obligation [Line Items] | |||
2022 | 20 | ||
2023 | 20 | ||
2024 | 19 | ||
2025 | 19 | ||
2026 | 19 | ||
Thereafter | 518 | ||
Purchase obligation | 615 | ||
PAC | Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 113 | ||
2023 | 56 | ||
2024 | 53 | ||
2025 | 52 | ||
2026 | 51 | ||
Thereafter | 253 | ||
Purchase obligation | $ 578 |
Commitments and Contingencies_6
Commitments and Contingencies - MEC - Commitments Table (Details) $ in Millions | Dec. 31, 2021USD ($) |
Contractual Obligation [Line Items] | |
2022 | $ 4,360 |
2023 | 2,914 |
2024 | 2,578 |
2025 | 1,582 |
2026 | 1,381 |
Thereafter | 16,377 |
Purchase obligation | 29,192 |
Construction commitments | |
Contractual Obligation [Line Items] | |
2022 | 1,329 |
2023 | 831 |
2024 | 776 |
2025 | 87 |
2026 | 4 |
Thereafter | 0 |
Purchase obligation | 3,027 |
Easements | |
Contractual Obligation [Line Items] | |
2022 | 82 |
2023 | 84 |
2024 | 80 |
2025 | 82 |
2026 | 83 |
Thereafter | 2,870 |
Purchase obligation | 3,281 |
Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2022 | 474 |
2023 | 364 |
2024 | 300 |
2025 | 249 |
2026 | 240 |
Thereafter | 1,543 |
Purchase obligation | 3,170 |
MEC | |
Contractual Obligation [Line Items] | |
2022 | 1,326 |
2023 | 398 |
2024 | 300 |
2025 | 232 |
2026 | 189 |
Thereafter | 1,880 |
Purchase obligation | 4,325 |
MEC | Fuel contracts | |
Contractual Obligation [Line Items] | |
2022 | 127 |
2023 | 81 |
2024 | 55 |
2025 | 27 |
2026 | 0 |
Thereafter | 0 |
Purchase obligation | 290 |
MEC | Electric capacity and transmission | |
Contractual Obligation [Line Items] | |
2022 | 32 |
2023 | 32 |
2024 | 32 |
2025 | 32 |
2026 | 32 |
Thereafter | 25 |
Purchase obligation | 185 |
MEC | Natural gas contracts for gas operations | |
Contractual Obligation [Line Items] | |
2022 | 156 |
2023 | 59 |
2024 | 28 |
2025 | 20 |
2026 | 11 |
Thereafter | 21 |
Purchase obligation | 295 |
MEC | Construction commitments | |
Contractual Obligation [Line Items] | |
2022 | 806 |
2023 | 19 |
2024 | 12 |
2025 | 11 |
2026 | 4 |
Thereafter | 0 |
Purchase obligation | 852 |
MEC | Easements | |
Contractual Obligation [Line Items] | |
2022 | 40 |
2023 | 41 |
2024 | 42 |
2025 | 43 |
2026 | 44 |
Thereafter | 1,574 |
Purchase obligation | 1,784 |
MEC | Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2022 | 165 |
2023 | 166 |
2024 | 131 |
2025 | 99 |
2026 | 98 |
Thereafter | 260 |
Purchase obligation | $ 919 |
Commitments and Contingencies_7
Commitments and Contingencies - MEC - Transmission Rates (Details) - MEC $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Unfavorable regulatory action | |
Loss Contingencies [Line Items] | |
Loss contingency accrual | $ 8 |
Transmission | |
Loss Contingencies [Line Items] | |
Approved return on equity adder | 0.50% |
Transmission | Prior to September 2016 | |
Loss Contingencies [Line Items] | |
Approved return on equity | 12.38% |
Transmission | November 2013 to February 2015 | |
Loss Contingencies [Line Items] | |
Approved return on equity | 10.32% |
Intervenor proposed return on equity | 9.15% |
Transmission | February 2015 through May 2016 | |
Loss Contingencies [Line Items] | |
Intervenor proposed return on equity | 8.67% |
Transmission | Nov 2019 Order For Nov 2013 to Feb 2015 and Sept 2016 Forward | |
Loss Contingencies [Line Items] | |
Approved return on equity | 9.88% |
Approved return on equity plus adder | 10.38% |
Transmission | May 2020 Order For Nov 2013 to Feb 2015 and Sept 2016 to May 2020 | |
Loss Contingencies [Line Items] | |
Approved return on equity | 10.02% |
Approved return on equity plus adder | 10.52% |
Commitments and Contingencies_8
Commitments and Contingencies - NPC - Narrative (Details) - NPC $ in Millions | 12 Months Ended | 36 Months Ended | |||
Dec. 31, 2021USD ($)MW | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($)MW | Dec. 31, 2017MW | Dec. 31, 2016MW | |
Loss Contingencies [Line Items] | |||||
Easement expense | $ | $ 4 | $ 4 | $ 7 | ||
536 Megawatts of Renewable Energy | |||||
Loss Contingencies [Line Items] | |||||
New generation capacity | 536 | ||||
200 Megawatts of Solar Renewable Energy | |||||
Loss Contingencies [Line Items] | |||||
New generation capacity | 200 | ||||
15 Megawatts of Solar Renewable Energy | |||||
Loss Contingencies [Line Items] | |||||
New generation capacity | 15 | ||||
35 Megawatts of Renewable Energy | |||||
Loss Contingencies [Line Items] | |||||
New generation capacity | 35 | ||||
255 Megawatts of Coal Energy | |||||
Loss Contingencies [Line Items] | |||||
Power plant capacity | 255 | ||||
557 Megawatts of Coal Energy | |||||
Loss Contingencies [Line Items] | |||||
Power plant capacity | 557 |
Commitments and Contingencies_9
Commitments and Contingencies - NPC - Commitments Table (Details) $ in Millions | Dec. 31, 2021USD ($) |
Contractual Obligation [Line Items] | |
2022 | $ 4,360 |
2023 | 2,914 |
2024 | 2,578 |
2025 | 1,582 |
2026 | 1,381 |
Thereafter | 16,377 |
Purchase obligation | 29,192 |
Fuel, capacity and transmission contract commitments | |
Contractual Obligation [Line Items] | |
2022 | 2,475 |
2023 | 1,635 |
2024 | 1,422 |
2025 | 1,164 |
2026 | 1,054 |
Thereafter | 11,964 |
Purchase obligation | 19,714 |
Construction commitments | |
Contractual Obligation [Line Items] | |
2022 | 1,329 |
2023 | 831 |
2024 | 776 |
2025 | 87 |
2026 | 4 |
Thereafter | 0 |
Purchase obligation | 3,027 |
Easements | |
Contractual Obligation [Line Items] | |
2022 | 82 |
2023 | 84 |
2024 | 80 |
2025 | 82 |
2026 | 83 |
Thereafter | 2,870 |
Purchase obligation | 3,281 |
Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2022 | 474 |
2023 | 364 |
2024 | 300 |
2025 | 249 |
2026 | 240 |
Thereafter | 1,543 |
Purchase obligation | 3,170 |
NPC | |
Contractual Obligation [Line Items] | |
2022 | 929 |
2023 | 766 |
2024 | 552 |
2025 | 580 |
2026 | 579 |
Thereafter | 7,637 |
Purchase obligation | 11,043 |
NPC | Fuel, capacity and transmission contract commitments | |
Contractual Obligation [Line Items] | |
2022 | 713 |
2023 | 458 |
2024 | 346 |
2025 | 348 |
2026 | 352 |
Thereafter | 3,250 |
Purchase obligation | 5,467 |
NPC | Fuel and capacity contract commitments (not commercially operable) | |
Contractual Obligation [Line Items] | |
2022 | 20 |
2023 | 60 |
2024 | 181 |
2025 | 212 |
2026 | 211 |
Thereafter | 4,302 |
Purchase obligation | 4,986 |
NPC | Construction commitments | |
Contractual Obligation [Line Items] | |
2022 | 141 |
2023 | 209 |
2024 | 0 |
2025 | 0 |
2026 | 0 |
Thereafter | 0 |
Purchase obligation | 350 |
NPC | Easements | |
Contractual Obligation [Line Items] | |
2022 | 4 |
2023 | 5 |
2024 | 2 |
2025 | 2 |
2026 | 2 |
Thereafter | 52 |
Purchase obligation | 67 |
NPC | Maintenance, service and other contracts | |
Contractual Obligation [Line Items] | |
2022 | 51 |
2023 | 34 |
2024 | 23 |
2025 | 18 |
2026 | 14 |
Thereafter | 33 |
Purchase obligation | $ 173 |
Commitments and Contingencie_10
Commitments and Contingencies - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Contractual Obligation [Line Items] | |||
2022 | $ 4,360 | ||
2023 | 2,914 | ||
2024 | 2,578 | ||
2025 | 1,582 | ||
2026 | 1,381 | ||
Thereafter | 16,377 | ||
Purchase obligation | 29,192 | ||
Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 2,475 | ||
2023 | 1,635 | ||
2024 | 1,422 | ||
2025 | 1,164 | ||
2026 | 1,054 | ||
Thereafter | 11,964 | ||
Purchase obligation | 19,714 | ||
Construction commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 1,329 | ||
2023 | 831 | ||
2024 | 776 | ||
2025 | 87 | ||
2026 | 4 | ||
Thereafter | 0 | ||
Purchase obligation | 3,027 | ||
Easements | |||
Contractual Obligation [Line Items] | |||
2022 | 82 | ||
2023 | 84 | ||
2024 | 80 | ||
2025 | 82 | ||
2026 | 83 | ||
Thereafter | 2,870 | ||
Purchase obligation | 3,281 | ||
Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 474 | ||
2023 | 364 | ||
2024 | 300 | ||
2025 | 249 | ||
2026 | 240 | ||
Thereafter | 1,543 | ||
Purchase obligation | 3,170 | ||
SPPC | |||
Contractual Obligation [Line Items] | |||
2022 | 407 | ||
2023 | 759 | ||
2024 | 921 | ||
2025 | 229 | ||
2026 | 134 | ||
Thereafter | 1,559 | ||
Purchase obligation | 4,009 | ||
Easement expense | 2 | $ 2 | $ 2 |
SPPC | Fuel, capacity and transmission contract commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 338 | ||
2023 | 227 | ||
2024 | 149 | ||
2025 | 120 | ||
2026 | 105 | ||
Thereafter | 1,072 | ||
Purchase obligation | 2,011 | ||
SPPC | Fuel and capacity contract commitments (not commercially operable) | |||
Contractual Obligation [Line Items] | |||
2022 | 25 | ||
2023 | 27 | ||
2024 | 27 | ||
2025 | 26 | ||
2026 | 26 | ||
Thereafter | 459 | ||
Purchase obligation | 590 | ||
SPPC | Construction commitments | |||
Contractual Obligation [Line Items] | |||
2022 | 35 | ||
2023 | 497 | ||
2024 | 737 | ||
2025 | 76 | ||
2026 | 0 | ||
Thereafter | 0 | ||
Purchase obligation | 1,345 | ||
SPPC | Easements | |||
Contractual Obligation [Line Items] | |||
2022 | 2 | ||
2023 | 2 | ||
2024 | 2 | ||
2025 | 2 | ||
2026 | 2 | ||
Thereafter | 28 | ||
Purchase obligation | 38 | ||
SPPC | Maintenance, service and other contracts | |||
Contractual Obligation [Line Items] | |||
2022 | 7 | ||
2023 | 6 | ||
2024 | 6 | ||
2025 | 5 | ||
2026 | 1 | ||
Thereafter | 0 | ||
Purchase obligation | $ 25 |
Commitments and Contingencie_11
Commitments and Contingencies - EEGH (Details) $ in Millions | Dec. 31, 2021USD ($) |
EEGH | Surety bond | |
Loss Contingencies [Line Items] | |
Guarantor obligation | $ 19 |
Revenue from Contract with Cu_2
Revenue from Contract with Customer - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 18,308 | 15,081 | 14,837 |
Other revenue | 627 | 475 | 534 |
Total operating revenue | 18,935 | 15,556 | 15,371 |
Energy | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,255 | 5,243 | 4,986 |
Other revenue | 41 | 98 | 82 |
Total operating revenue | 5,296 | 5,341 | 5,068 |
Energy | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,514 | 2,704 | 2,904 |
Other revenue | 33 | 24 | 23 |
Total operating revenue | 3,547 | 2,728 | 2,927 |
Energy | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,083 | 2,824 | 3,007 |
Other revenue | 24 | 30 | 30 |
Total operating revenue | 3,107 | 2,854 | 3,037 |
Energy | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,066 | 913 | 912 |
Other revenue | 122 | 109 | 101 |
Total operating revenue | 1,188 | 1,022 | 1,013 |
Energy | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,416 | 1,548 | 1,122 |
Other revenue | 128 | 30 | 9 |
Total operating revenue | 3,544 | 1,578 | 1,131 |
Energy | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 737 | 659 | 707 |
Other revenue | (6) | 0 | 0 |
Total operating revenue | 731 | 659 | 707 |
Energy | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 796 | 817 | 744 |
Other revenue | 185 | 119 | 188 |
Total operating revenue | 981 | 936 | 932 |
Energy | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 441 | 373 | 455 |
Other revenue | 100 | 65 | 101 |
Total operating revenue | 541 | 438 | 556 |
Energy | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 15,884 | 13,553 | 13,433 |
Energy | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,255 | 5,243 | 4,986 |
Energy | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,499 | 2,688 | 2,874 |
Energy | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,080 | 2,822 | 3,007 |
Energy | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,023 | 887 | 876 |
Energy | Regulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,460 | 1,414 | 1,122 |
Energy | Regulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 702 | 641 | 690 |
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 | (135) | (142) | (122) |
Energy | Nonregulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,424 | 1,528 | 1,404 |
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 | 15 | 16 | 30 |
Energy | Nonregulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3 | 2 | 0 |
Energy | Nonregulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 43 | 26 | 36 |
Energy | Nonregulated assets | BHE Pipeline Group | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 956 | 134 | 0 |
Energy | Nonregulated assets | BHE Transmission | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 35 | 18 | 17 |
Energy | Nonregulated assets | BHE Renewables | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 796 | 817 | 744 |
Energy | Nonregulated assets | BHE and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 576 | 515 | 577 |
Retail Electric | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 9,801 | 9,421 | 9,465 |
Retail Electric | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 4,847 | 4,932 | 4,789 |
Retail Electric | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,128 | 1,924 | 1,938 |
Retail Electric | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,828 | 2,566 | 2,740 |
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 | (2) | (1) | (2) |
Retail Gas | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 974 | 619 | 686 |
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 | 859 | 505 | 570 |
Retail Gas | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 115 | 114 | 116 |
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 | 727 | 366 | 457 |
Wholesale | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 157 | 107 | 99 |
Wholesale | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 454 | 199 | 309 |
Wholesale | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 62 | 45 | 51 |
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 | 57 | 17 | 0 |
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 | (3) | (2) | (2) |
Transmission and distribution | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,000 | 1,779 | 1,819 |
Transmission and distribution | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 143 | 96 | 98 |
Transmission and distribution | Regulated assets | MidAmerican Funding | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 58 | 60 | 57 |
Transmission and distribution | Regulated assets | NV Energy | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 74 | 95 | 98 |
Transmission and distribution | Regulated assets | Northern Powergrid | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,023 | 887 | 876 |
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 | 702 | 641 | 690 |
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 | 2,273 | 1,258 | 1,004 |
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 | 2,404 | 1,397 | 1,122 |
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 | (131) | (139) | (118) |
Other | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 109 | 110 | 2 |
Other | Regulated assets | PAC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 108 | 108 | 0 |
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 | 1 | 2 | 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 | (1) | 0 | 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 | $ 1 | $ 0 | $ 0 |
Revenue from Contract with Cu_3
Revenue from Contract with Customer - Real Estate Services (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Real estate | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | 6,215 | 5,396 | 4,473 |
HomeServices | Real estate | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,583 | 4,596 | 4,096 |
Other revenue | 632 | 800 | 377 |
Total operating revenue | 6,215 | 5,396 | 4,473 |
HomeServices | Brokerage | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5,498 | 4,520 | 4,028 |
HomeServices | Franchise | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 85 | $ 76 | $ 68 |
Revenue from Contract with Cu_4
Revenue from Contract with Customer - Remaining Performance Obligation (Details) - BHE Pipeline Group $ in Millions | Dec. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 23,645 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 2,607 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
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 | $ 21,038 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from External Customer [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
PAC | |||
Revenue from External Customer [Line Items] | |||
Other revenue | 41 | 98 | 82 |
Total operating revenue | 5,296 | 5,341 | 5,068 |
Regulated assets | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 9,801 | 9,421 | 9,465 |
Regulated assets | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 727 | 366 | 457 |
Regulated assets | Transmission and distribution | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 2,000 | 1,779 | 1,819 |
Regulated assets | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 109 | 110 | 2 |
Regulated assets | PAC | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 5,255 | 5,243 | 4,986 |
Regulated assets | PAC | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 4,847 | 4,932 | 4,711 |
Regulated assets | PAC | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 157 | 107 | 99 |
Regulated assets | PAC | Transmission and distribution | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 143 | 96 | 98 |
Regulated assets | PAC | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 108 | 108 | 78 |
Regulated assets | PAC | Residential | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,914 | 1,910 | 1,783 |
Regulated assets | PAC | Commercial | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,559 | 1,578 | 1,522 |
Regulated assets | PAC | Industrial | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,125 | 1,185 | 1,176 |
Regulated assets | PAC | Other retail | Retail Electric | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | $ 249 | $ 259 | $ 230 |
Revenue from Contract with Cu_6
Revenue from Contract with Customer - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3,514 | 2,696 | 2,902 |
Other revenue | 33 | 24 | 23 |
Total operating revenue | 3,547 | 2,720 | 2,925 |
MEC | Retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,987 | 2,429 | 2,508 |
MEC | Retail | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,282 | 1,027 | 1,055 |
MEC | Retail | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 550 | 415 | 454 |
MEC | Retail | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 964 | 818 | 816 |
MEC | Retail | Natural gas transportation services | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 39 | 36 | 38 |
MEC | Retail | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 152 | 133 | 145 |
MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 454 | 199 | 309 |
MEC | Multi-value transmission projects | Multi-value transmission projects | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 58 | 60 | 57 |
MEC | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 15 | 8 | 28 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 9,801 | 9,421 | 9,465 |
Regulated assets | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 974 | 619 | 686 |
Regulated assets | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 727 | 366 | 457 |
Regulated assets | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 109 | 110 | 2 |
Regulated electric | Regulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,498 | 2,117 | 2,216 |
Other revenue | 31 | 22 | 21 |
Total operating revenue | 2,529 | 2,139 | 2,237 |
Regulated electric | Regulated assets | MEC | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,128 | 1,924 | 1,938 |
Regulated electric | Regulated assets | MEC | Retail Electric | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 718 | 685 | 672 |
Regulated electric | Regulated assets | MEC | Retail Electric | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 327 | 304 | 322 |
Regulated electric | Regulated assets | MEC | Retail Electric | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 934 | 804 | 799 |
Regulated electric | Regulated assets | MEC | Retail Electric | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 149 | 131 | 145 |
Regulated electric | Regulated assets | MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 312 | 133 | 221 |
Regulated electric | Regulated assets | MEC | Multi-value transmission projects | Multi-value transmission projects | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 58 | 60 | 57 |
Regulated natural gas | Regulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,001 | 571 | 658 |
Other revenue | 2 | 2 | 2 |
Total operating revenue | 1,003 | 573 | 660 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 859 | 505 | 570 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 564 | 342 | 383 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 223 | 111 | 132 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 30 | 14 | 17 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Natural gas transportation services | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 39 | 36 | 38 |
Regulated natural gas | Regulated assets | MEC | Retail Gas | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3 | 2 | 0 |
Regulated natural gas | Regulated assets | MEC | Wholesale | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 142 | 66 | 88 |
Other | Nonregulated assets | MEC | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 15 | 8 | 28 |
Other revenue | 0 | 0 | 0 |
Total operating revenue | 15 | 8 | 28 |
Other | Nonregulated assets | MEC | Other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 15 | $ 8 | $ 28 |
Revenue from Contract with Cu_7
Revenue from Contract with Customer - LLC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Nonregulated assets | Other | MidAmerican Funding, LLC | Nonregulated | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 0 | $ 8 | $ 2 |
Revenue from Contract with Cu_8
Revenue from Contract with Customer - NPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 9,801 | 9,421 | 9,465 |
NPC | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 22 | 26 | 25 |
Total operating revenue | 2,139 | 1,998 | 2,148 |
NPC | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,117 | 1,972 | 2,123 |
NPC | Regulated assets | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 74 | 62 | 57 |
NPC | Regulated assets | Fully bundled | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 2,021 | 1,886 | 2,035 |
NPC | Regulated assets | Fully bundled | Residential | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 1,207 | 1,145 | 1,141 |
NPC | Regulated assets | Fully bundled | Commercial | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 414 | 384 | 441 |
NPC | Regulated assets | Fully bundled | Industrial | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 386 | 345 | 433 |
NPC | Regulated assets | Fully bundled | Other retail | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 14 | 12 | 20 |
NPC | Regulated assets | Distribution only service | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 22 | 24 | 31 |
NPC | Regulated assets | Fully bundled and distribution services only customer | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | $ 2,043 | $ 1,910 | $ 2,066 |
Revenue from Contract with Cu_9
Revenue from Contract with Customer - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
Regulated assets | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 9,801 | 9,421 | 9,465 |
Regulated assets | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 974 | 619 | 686 |
SPPC | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 4 | 5 | 6 |
Total operating revenue | 965 | 854 | 889 |
SPPC | Regulated electric | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 2 | 3 | 4 |
Total operating revenue | 848 | 738 | 770 |
SPPC | Regulated natural gas | |||
Disaggregation of Revenue [Line Items] | |||
Other revenue | 2 | 2 | 2 |
Total operating revenue | 117 | 116 | 119 |
SPPC | Regulated assets | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 961 | 849 | 883 |
SPPC | Regulated assets | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 62 | 50 | 57 |
SPPC | Regulated assets | Regulated electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 846 | 735 | 766 |
SPPC | Regulated assets | Regulated electric | Wholesale, transmission and other | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 62 | 50 | 57 |
SPPC | Regulated assets | Regulated natural gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 115 | 114 | 117 |
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 | 899 | 799 | 826 |
SPPC | Regulated assets | Fully bundled and distribution services only customer | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 784 | 685 | 709 |
SPPC | Regulated assets | Fully bundled and distribution services only customer | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 115 | 114 | 117 |
SPPC | Regulated assets | Fully bundled | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 896 | 795 | 822 |
SPPC | Regulated assets | Fully bundled | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 781 | 681 | 705 |
SPPC | Regulated assets | Fully bundled | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 115 | 114 | 117 |
SPPC | Regulated assets | Fully bundled | Residential | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 383 | 349 | 344 |
SPPC | Regulated assets | Fully bundled | Residential | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 307 | 273 | 268 |
SPPC | Regulated assets | Fully bundled | Residential | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 76 | 76 | 76 |
SPPC | Regulated assets | Fully bundled | Commercial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 296 | 262 | 275 |
SPPC | Regulated assets | Fully bundled | Commercial | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 267 | 233 | 245 |
SPPC | Regulated assets | Fully bundled | Commercial | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 29 | 29 | 30 |
SPPC | Regulated assets | Fully bundled | Industrial | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 212 | 179 | 196 |
SPPC | Regulated assets | Fully bundled | Industrial | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 202 | 170 | 186 |
SPPC | Regulated assets | Fully bundled | Industrial | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 10 | 9 | 10 |
SPPC | Regulated assets | Fully bundled | Other retail | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5 | 5 | 7 |
SPPC | Regulated assets | Fully bundled | Other retail | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 5 | 5 | 6 |
SPPC | Regulated assets | Fully bundled | Other retail | Regulated natural gas | Retail Gas | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 0 | 0 | 1 |
SPPC | Regulated assets | Distribution only service | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3 | 4 | 4 |
SPPC | Regulated assets | Distribution only service | Regulated electric | Retail Electric | |||
Disaggregation of Revenue [Line Items] | |||
Customer revenue | 3 | 4 | 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from External Customer [Line Items] | |||
Total operating revenue | $ 25,150 | $ 20,952 | $ 19,844 |
EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,866 | 2,087 | 2,165 |
Other revenue | 4 | 3 | 4 |
Total operating revenue | 1,870 | 2,090 | 2,169 |
Regulated assets | Retail Gas | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 974 | 619 | 686 |
Regulated assets | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 727 | 366 | 457 |
Regulated assets | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 109 | 110 | 2 |
Regulated assets | EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,099 | 1,289 | 1,316 |
Regulated assets | EEGH | Retail Gas | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 1,044 | 1,242 | 1,300 |
Regulated assets | EEGH | Wholesale | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | 57 | 43 | 9 |
Regulated assets | EEGH | Other | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | (2) | 4 | 7 |
Nonregulated assets | EEGH | |||
Revenue from External Customer [Line Items] | |||
Customer revenue | $ 767 | $ 798 | $ 849 |
Revenue from Contract with C_11
Revenue from Contract with Customer - EEGH - Remaining Performance Obligation (Details) - EEGH $ in Millions | Dec. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 17,720 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance obligations expected to be satisfied | $ 1,594 |
Remaining performance obligation, expected timing of satisfaction, period | 12 months |
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 | $ 16,126 |
Remaining performance obligation, expected timing of satisfaction, period |
BHE Shareholders' Equity (Detai
BHE Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Billions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Class of Stock [Line Items] | ||
Preferred stock, shares outstanding | 2,000,000 | 4,000,000 |
BHE restricted net assets | $ 18.3 | |
BHE's subsidiaries restricted net assets | $ 20.3 | |
Natural Gas Transmission and Storage | Redeemable preferred stock | ||
Class of Stock [Line Items] | ||
Preferred stock, shares outstanding | 1,649,988 | 3,750,000 |
Preferred stock, dividend rate | 4.00% | |
Liquidation preference (in dollars per share) | $ 1,000 |
Preferred Stock - PAC (Details)
Preferred Stock - PAC (Details) | 12 Months Ended | |
Dec. 31, 2021payment$ / sharesshares | Dec. 31, 2020$ / sharesshares | |
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 | 2,000,000 | 4,000,000 |
Preferred stock, shares outstanding | 2,000,000 | 4,000,000 |
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 | 5.00% | 5.00% |
Minimum | Preferred Stock Class, Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, dividend rate | 6.00% | |
Maximum | Preferred Stock Class, Serial Preferred | PAC | ||
Class of Stock [Line Items] | ||
Preferred stock, dividend rate | 7.00% |
Common Shareholder's Equity - P
Common Shareholder's Equity - PAC (Details) - PAC $ in Billions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Class of Stock [Line Items] | |
Minimum common equity to capitalization percentage | 44.00% |
Actual common equity percentage as calculated in accordance with acquisition commitment | 54.00% |
Amount available for dividend distribution without prior approval | $ 3.2 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | $ 46,977 | $ 32,578 | $ 29,723 |
Other comprehensive income | 217 | 154 | 239 |
BHE GT&S acquisition - noncontrolling interest | 3,916 | ||
Ending balance | 50,589 | 46,977 | 32,578 |
Accumulated Other Comprehensive Income (Loss) | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (1,552) | (1,706) | (1,945) |
Other comprehensive income | 212 | 154 | 239 |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | (1,340) | (1,552) | (1,706) |
Unrecognized Amounts on Retirement Benefits | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (492) | (417) | (358) |
Other comprehensive income | 174 | (65) | (59) |
BHE GT&S acquisition - noncontrolling interest | (10) | ||
Ending balance | (318) | (492) | (417) |
Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (1,062) | (1,296) | (1,623) |
Other comprehensive income | (24) | 234 | 327 |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | (1,086) | (1,062) | (1,296) |
Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (8) | 7 | 36 |
Other comprehensive income | 67 | (15) | (29) |
BHE GT&S acquisition - noncontrolling interest | 0 | ||
Ending balance | 59 | (8) | 7 |
Noncontrolling Interest | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (10) | 0 | 0 |
BHE GT&S acquisition - noncontrolling interest | 10 | ||
Ending balance | (5) | (10) | 0 |
Noncontrolling Interest | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | 3,967 | 129 | 130 |
Other comprehensive income | 5 | 0 | 0 |
BHE GT&S acquisition - noncontrolling interest | 3,916 | ||
Ending balance | $ 3,895 | $ 3,967 | $ 129 |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss, Net - PAC (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
PAC | ||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||
Accumulated other comprehensive loss, retirement benefits, net of tax | $ 17 | $ 19 |
Components of Accumulated Oth_5
Components of Accumulated Other Comprehensive Loss, Net - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | $ 46,977 | $ 32,578 | $ 29,723 |
Other comprehensive income | 217 | 154 | 239 |
Ending balance | 50,589 | 46,977 | 32,578 |
Accumulated Other Comprehensive Income (Loss) | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (1,552) | (1,706) | (1,945) |
Other comprehensive income | 212 | 154 | 239 |
Ending balance | (1,340) | (1,552) | (1,706) |
Unrecognized Amounts on Retirement Benefits | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (492) | (417) | (358) |
Other comprehensive income | 174 | (65) | (59) |
Ending balance | (318) | (492) | (417) |
Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (8) | 7 | 36 |
Other comprehensive income | 67 | (15) | (29) |
Ending balance | 59 | (8) | 7 |
Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (10) | 0 | 0 |
Ending balance | (5) | (10) | 0 |
Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 3,967 | 129 | 130 |
Other comprehensive income | 5 | 0 | 0 |
Ending balance | 3,895 | 3,967 | 129 |
EEGH | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 6,995 | 10,229 | 8,865 |
Other comprehensive income | 15 | 124 | (18) |
Ending balance | 7,494 | 6,995 | 10,229 |
EEGH | Accumulated Other Comprehensive Income (Loss) | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (53) | (187) | (169) |
Other comprehensive income | 10 | 134 | (17) |
Ending balance | (43) | (53) | (187) |
EEGH | Unrecognized Amounts on Retirement Benefits | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (12) | (106) | (144) |
Other comprehensive income | 6 | 94 | 38 |
Ending balance | (6) | (12) | (106) |
EEGH | Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (51) | (81) | (25) |
Other comprehensive income | 9 | 30 | (56) |
Ending balance | (42) | (51) | (81) |
EEGH | Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | (10) | 0 | 0 |
Other comprehensive income | 0 | ||
Ending balance | (5) | (10) | 0 |
EEGH | Noncontrolling Interest | |||
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
Beginning balance | 4,091 | 1,385 | 2,664 |
Other comprehensive income | 5 | (10) | (1) |
Ending balance | $ 4,036 | $ 4,091 | $ 1,385 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||||
Interest expense | $ 2,118 | $ 2,021 | $ 1,912 | |
Other, net | (17) | 88 | 97 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 | |
Income tax (benefit) expense | (1,132) | 308 | (598) | |
Net income | 6,189 | 7,014 | 2,968 | |
EEGH | ||||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||||
Net income from discontinued operations | [1] | 0 | 0 | 141 |
Interest expense | 151 | 339 | 324 | |
Other, net | 1 | 42 | 43 | |
Income (loss) before income tax expense (benefit) and equity income (loss) | 725 | 207 | 759 | |
Income tax (benefit) expense | 117 | (24) | 101 | |
Net income | 652 | 273 | 842 | |
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) | 27 | 132 | 7 | |
Income tax (benefit) expense | (7) | (34) | (2) | |
Net income | 20 | 98 | 5 | |
EEGH | Cash flow hedge | Commodity derivatives | Reclassification out of Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||||
Net income from discontinued operations | (4) | |||
EEGH | Cash flow hedge | Interest rate contracts | Reclassification out of Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||||
Interest expense | 6 | 157 | 5 | |
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 | $ 21 | (25) | 6 | |
EEGH | Unrecognized Amounts on Retirement Benefits | Reclassification out of Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Loss, Net [Line Items] | ||||
Other, net | 6 | 7 | ||
Income (loss) before income tax expense (benefit) and equity income (loss) | 6 | 7 | ||
Income tax (benefit) expense | (2) | (2) | ||
Net income | $ 4 | $ 5 | ||
[1] | Includes income tax expense of $33Â million for the year ended December 31, 2019. |
Components of Accumulated Oth_7
Components of Accumulated Other Comprehensive Loss, Net - EEGH - Cash Flow Hedges (Details) - EEGH - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2020 | Jul. 31, 2020 | Dec. 31, 2021 | |
Derivative [Line Items] | |||
AOCI After-Tax | $ (42) | ||
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 | (38) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | $ (4) | ||
Maximum Term | 276 months | ||
Foreign currency exchange rate derivatives | |||
Derivative [Line Items] | |||
AOCI After-Tax | $ (4) | ||
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax | $ (3) | ||
Maximum Term | 54 months |
Other Income (Expense) - MEC (D
Other Income (Expense) - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ (17) | $ 88 | $ 97 |
MEC | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 53 | 52 | 50 |
MEC | Non-service cost components of postretirement employee benefit plans | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 26 | 24 | 17 |
MEC | Corporate-owned life insurance income | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 21 | 16 | 24 |
MEC | Gains on disposition of assets | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 6 | 0 |
MEC | Interest income and other, net | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ 6 | $ 6 | $ 9 |
Other Income (Expense) - MidAme
Other Income (Expense) - MidAmerican Funding (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ (17) | $ 88 | $ 97 |
MidAmerican Funding, LLC | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 54 | 52 | 52 |
MidAmerican Funding, LLC | Non-service cost components of postretirement employee benefit plans | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 26 | 24 | 17 |
MidAmerican Funding, LLC | Corporate-owned life insurance income | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 21 | 16 | 24 |
MidAmerican Funding, LLC | Gains on disposition of assets | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 6 | 0 |
MidAmerican Funding, LLC | Interest income and other, net | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $ 7 | $ 6 | $ 11 |
Variable Interest Entities an_2
Variable Interest Entities and Noncontrolling Interests (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Nov. 06, 2019 | Nov. 30, 2020 | Dec. 31, 2019 | 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 | 25.00% | 50.00% | 50.00% | |||
Cove Point LNG, LP | Brookfield Super-Core Infrastructure Partners | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership interest | 25.00% | 25.00% | ||||
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 | 25.00% | 25.00% | ||||
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 | 100.00% | 100.00% | ||||
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 | 25.00% | 25.00% |
Variable Interest Entities - PA
Variable Interest Entities - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Not Primary Beneficiary | ||
Schedule of Equity Method Investments [Line Items] | ||
Variable interest entity, ownership percentage | 66.67% | |
Net assets | $ 45 | $ 74 |
Jim Bridger Nos. 1-4 | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership share | 67.00% | |
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 - EE
Variable Interest Entities - EEGH (Details) - USD ($) $ in Millions | Nov. 01, 2020 | Nov. 06, 2019 | Jul. 31, 2021 | Nov. 30, 2020 | Jul. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2015 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
EEGH | Cove Point LNG, LP | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Ownership interest | 25.00% | 75.00% | 75.00% | |||||||
Noncontrolling interest distributed | 25.00% | |||||||||
EEGH | General Partner | Primary Beneficiary | Cove Point LNG, LP | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Variable interest entity, ownership percentage | 100.00% | |||||||||
EEGH | Limited Partner | Primary Beneficiary | Cove Point LNG, LP | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Variable interest entity, ownership percentage | 25.00% | |||||||||
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 | 50.00% | |||||||||
EEGH | Cove Point LNG, LP | Dominion Energy, Inc. | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Ownership interest | 75.00% | |||||||||
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 | 50.00% | |||||||||
EEGH | Carolina Gas Services, Inc. | Not Primary Beneficiary | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Due to related parties | $ 7 | $ 22 | ||||||||
EEGH | Carolina Gas Services, Inc. | Shared Services | Not Primary Beneficiary | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Related party amounts of transaction | $ 12 | 12 | $ 16 | |||||||
EEGH | Questar Pipeline Services | Shared Services | Not Primary Beneficiary | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Related party amounts of transaction | 23 | 33 | ||||||||
EEGH | Dominion Energy Services, Inc. | Shared Services | Not Primary Beneficiary | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Related party amounts of transaction | $ 90 | $ 119 | ||||||||
Dominion Energy, Inc. | Cove Point LNG, LP | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Ownership interest | 25.00% | 50.00% | 50.00% | |||||||
Dominion Energy, Inc. | Cove Point LNG, LP | ||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||
Sold noncontrolling partner interest | 25.00% |
Noncontrolling Interests - EEGH
Noncontrolling Interests - EEGH (Details) shares in Millions, $ in Millions | Nov. 06, 2019 | Nov. 30, 2020 | Dec. 31, 2019 | Jan. 31, 2019USD ($)shares | Dec. 31, 2021 |
Noncontrolling Interest [Line Items] | |||||
Convertible subordinated units, conversion ratio | 1 | ||||
Dominion Energy, Inc. | Cove Point LNG, LP | |||||
Noncontrolling Interest [Line Items] | |||||
Ownership interest | 25.00% | 50.00% | 50.00% | ||
Dominion Energy, Inc. | Northeast Midstream | |||||
Noncontrolling Interest [Line Items] | |||||
Additional shares issued to parent (in shares) | shares | 22.5 | ||||
Additional shares issued to parent, value amount | $ 1,600 | ||||
Income tax effects allocated directly to equity | $ 40 | ||||
Brookfield Super-Core Infrastructure Partners | Cove Point LNG, LP | |||||
Noncontrolling Interest [Line Items] | |||||
Ownership interest | 25.00% | 25.00% | |||
Northeast Midstream | |||||
Noncontrolling Interest [Line Items] | |||||
Preferred unit, exchange ratio | 0.2492 |
Supplemental Cash Flow Disclo_3
Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Supplemental Cash Flow Elements [Abstract] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Investments and restricted cash and cash equivalents and investments | 21 | 15 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | 1,309 | 1,361 | 850 | |
Accruals related to property, plant and equipment additions | 834 | 801 | 888 | |
Related party, cash received (paid) for income taxes | $ 1,441 | $ 1,504 | $ 942 |
Supplemental Cash Flow Disclo_4
Supplemental Cash Flow Disclosures - PAC (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Investments and restricted cash and cash equivalents and investments | 21 | 15 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | (1,309) | (1,361) | (850) | |
Accrued capital expenditures | 834 | 801 | 888 | |
PAC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 179 | 13 | ||
Restricted cash and cash equivalents | 4 | 4 | ||
Investments and restricted cash and cash equivalents and investments | 3 | 2 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 186 | 19 | 36 | $ 92 |
Interest paid, net of amounts capitalized | 395 | 348 | 340 | |
Income taxes received, net | (120) | 107 | 171 | |
Accrued capital expenditures | $ 254 | $ 344 | $ 293 |
Supplemental Cash Flow Disclo_5
Supplemental Cash Flow Disclosures - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Income Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | 1,309 | 1,361 | 850 | |
Accrued capital expenditures | 834 | 801 | 888 | |
MEC | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 232 | 38 | ||
Restricted cash and cash equivalents | 7 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 239 | 45 | 330 | $ 56 |
Interest paid, net of amounts capitalized | 279 | 286 | 224 | |
Income taxes received, net | 746 | 709 | 450 | |
Accrued capital expenditures | $ 257 | $ 227 | $ 337 |
Supplemental Cash Flow Disclo_6
Supplemental Cash Flow Disclosures - MidAmerican Funding (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | 1,309 | 1,361 | 850 | |
Accrued capital expenditures | 834 | 801 | 888 | |
MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 233 | 39 | ||
Restricted cash and cash equivalents | 7 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 240 | 46 | 331 | $ 57 |
Interest paid, net of amounts capitalized | 296 | 302 | 245 | |
Income taxes received, net | 751 | 715 | 456 | |
Accrued capital expenditures | 257 | 227 | 337 | |
Property, Plant and Equipment | MidAmerican Funding, LLC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Distribution of corporate aircraft to parent | $ 0 | $ 0 | $ 8 |
Supplemental Cash Flow Disclo_7
Supplemental Cash Flow Disclosures - NPC (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Accrued capital expenditures | 834 | 801 | 888 | |
NPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 33 | 25 | ||
Restricted cash and cash equivalents | 12 | 11 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 45 | 36 | 25 | $ 121 |
Interest paid, net of amounts capitalized | 115 | 115 | 126 | |
Income taxes (received) paid, net | 63 | 50 | 113 | |
Accrued capital expenditures | $ 53 | $ 32 | $ 49 |
Supplemental Cash Flow Disclo_8
Supplemental Cash Flow Disclosures - SPPC (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | (1,309) | (1,361) | (850) | |
Accrued capital expenditures | 834 | 801 | 888 | |
SPPC | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 10 | 19 | ||
Restricted cash and cash equivalents | 6 | 7 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 16 | 26 | 32 | $ 76 |
Interest paid, net of amounts capitalized | 41 | 42 | 41 | |
Income taxes received, net | (3) | 2 | 37 | |
Accrued capital expenditures | $ 27 | $ 17 | $ 18 |
Supplemental Cash Flow Disclo_9
Supplemental Cash Flow Disclosures - EEGH (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Restricted cash and cash equivalents | 127 | 140 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 1,244 | 1,445 | $ 1,268 | $ 883 |
Interest paid, net of amounts capitalized | 2,041 | 1,855 | 1,723 | |
Income taxes received, net | (1,309) | (1,361) | (850) | |
Supplemental disclosure of non-cash investing and financing transactions: | ||||
Accrued capital expenditures | 834 | 801 | 888 | |
EEGH | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 22 | 35 | ||
Restricted cash and cash equivalents | 17 | 13 | ||
Total cash and cash equivalents and restricted cash and cash equivalents | 39 | 48 | 39 | $ 198 |
Interest paid, net of amounts capitalized | 144 | 317 | 291 | |
Income taxes received, net | (60) | 31 | 65 | |
Supplemental disclosure of non-cash investing and financing transactions: | ||||
Accrued capital expenditures | 42 | 30 | 25 | |
Equity distributions | (137) | 0 | 0 | |
Equity contributions | 73 | 0 | 0 | |
Distribution of Questar Pipeline Group | 0 | (699) | 0 | |
Distribution of 50% interest in Cove Point | 0 | (2,765) | 0 | |
Acquisition of Eastern Energy Gas by BHE | $ 0 | $ 343 | $ 0 |
Related Party Transactions - PA
Related Party Transactions - PAC (Details) - PAC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Affiliated entity | Intercompany administrative services agreement and a mutual assistance agreement | |||
Related Party Transaction [Line Items] | |||
SG&A expenses from transactions with related party | $ 18 | $ 10 | $ 10 |
Due to affiliate | 9 | 5 | |
Services provided to related parties | 8 | 4 | 1 |
BHE | |||
Related Party Transaction [Line Items] | |||
Income tax receivable (payable), related parties current | 48 | 25 | |
Cash (received from) paid to BHE for federal and state income taxes | (120) | 107 | 171 |
BHE | Wind turbine transactions | |||
Related Party Transaction [Line Items] | |||
Services provided to related parties | 6 | ||
Purchases from related party | 147 | ||
Subsidiary of Common Parent | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 6 | 6 | 7 |
BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 19 | 29 | 35 |
Equity Method Investee | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 148 | 145 | $ 155 |
Due to related parties | $ 7 | $ 14 |
Related Party Transactions - ME
Related Party Transactions - MEC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Related party, cash received (paid) for income taxes | $ 1,441 | $ 1,504 | $ 942 |
MEC | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Expense reimbursement | 66 | 47 | 43 |
Due from affiliate, current | 10 | 12 | |
Accounts payable to affiliates | 17 | 13 | |
Affiliated notes receivable | 124 | 146 | |
Due to affiliate, noncurrent | 63 | 49 | |
MEC | BHE | |||
Related Party Transaction [Line Items] | |||
Related party expense | 72 | 15 | 14 |
Income tax receivable (payable), related parties current | 79 | (14) | |
Related party, cash received (paid) for income taxes | 746 | 709 | 450 |
MEC | Northern Natural Gas and BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 132 | $ 129 | $ 139 |
MEC | BHE Renewables | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | $ 7 |
Related Party Transactions - Mi
Related Party Transactions - MidAmerican Funding (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Credit facilities | $ 11,281,000,000 | $ 11,030,000,000 | |
Related party, cash received (paid) for income taxes | 1,441,000,000 | 1,504,000,000 | $ 942,000,000 |
MidAmerican Funding, LLC | |||
Related Party Transaction [Line Items] | |||
Note payable to affiliate | $ 189,000,000 | 177,000,000 | |
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 | $ 65,000,000 | 46,000,000 | 41,000,000 |
Due from affiliate, current | 11,000,000 | 13,000,000 | |
Accounts payable to affiliates | 17,000,000 | 13,000,000 | |
Affiliated notes receivable | 124,000,000 | 146,000,000 | |
Due to affiliate, noncurrent | 63,000,000 | 49,000,000 | |
MidAmerican Funding, LLC | BHE | |||
Related Party Transaction [Line Items] | |||
Related party expense | 72,000,000 | 15,000,000 | 14,000,000 |
Income tax receivable (payable), related parties current | 80,000,000 | (14,000,000) | |
Related party, cash received (paid) for income taxes | 751,000,000 | 715,000,000 | 456,000,000 |
MidAmerican Funding, LLC | Northern Natural Gas and BNSF Railway Company | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 132,000,000 | 129,000,000 | 139,000,000 |
MidAmerican Funding, LLC | BHE Renewables | |||
Related Party Transaction [Line Items] | |||
Purchases from related party | 7,000,000 | ||
MidAmerican Funding, LLC | Revolving Credit Arrangement, $300 million | Line of credit | MHC, Inc. | BHE | |||
Related Party Transaction [Line Items] | |||
Maximum amount available | 300,000,000 | ||
Note payable to affiliate | $ 189,000,000 | $ 177,000,000 | |
Weighted average interest rate | 0.353% | 0.397% | |
MidAmerican Funding, LLC | Revolving Credit Arrangement, $100 million | Line of credit | MHC, Inc. | BHE | |||
Related Party Transaction [Line Items] | |||
Credit facilities | $ 100,000,000 | ||
Notes receivable - affiliate | 0 | $ 0 | |
Property, Plant and Equipment | MidAmerican Funding, LLC | |||
Related Party Transaction [Line Items] | |||
Distribution of corporate aircraft to parent | $ 0 | $ 0 | $ 8,000,000 |
Related Party Transactions - NP
Related Party Transactions - NPC (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Related party, cash received (paid) for income taxes | $ 1,441,000,000 | $ 1,504,000,000 | $ 942,000,000 |
NPC | BHE | |||
Related Party Transaction [Line Items] | |||
SG&A expenses from transactions with related party | 3,000,000 | 2,000,000 | 2,000,000 |
NPC | Kern River | |||
Related Party Transaction [Line Items] | |||
Related party expense | 52,000,000 | 52,000,000 | 52,000,000 |
Due to affiliate | 4,000,000 | 4,000,000 | |
NPC | SPPC | |||
Related Party Transaction [Line Items] | |||
SG&A expenses from transactions with related party | 15,000,000 | 15,000,000 | 14,000,000 |
Due to affiliate | 0 | 0 | |
Receivables from affiliates | 2,000,000 | 2,000,000 | |
Expense reimbursement | 25,000,000 | 26,000,000 | 26,000,000 |
NPC | 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 | 33,000,000 | 28,000,000 | |
Receivables from affiliates | 0 | 0 | |
Expense reimbursement | 1,000,000 | 0 | 0 |
Income tax receivable (payable), related parties current | 27,000,000 | 0 | |
Related party, cash received (paid) for income taxes | 63,000,000 | 50,000,000 | 113,000,000 |
NPC | Distribution | PAC | |||
Related Party Transaction [Line Items] | |||
Due to affiliate | 0 | 0 | |
Related party revenue | 3,000,000 | 3,000,000 | 2,000,000 |
Receivables from affiliates | 0 | 0 | |
Purchases from related party | 0 | 1,000,000 | 0 |
NPC | Distribution | SPPC | |||
Related Party Transaction [Line Items] | |||
Due to affiliate | 0 | 1,000,000 | |
Related party revenue | 179,000,000 | 106,000,000 | 84,000,000 |
Receivables from affiliates | 13,000,000 | 13,000,000 | |
Purchases from related party | $ 43,000,000 | $ 34,000,000 | $ 25,000,000 |
Related Party Transactions - SP
Related Party Transactions - SPPC (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | ||||
Related party, cash received (paid) for income taxes | $ 1,441,000,000 | $ 1,504,000,000 | $ 942,000,000 | |
SPPC | BHE | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 2,000,000 | 1,000,000 | 1,000,000 | |
SPPC | NPC | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 25,000,000 | 26,000,000 | 26,000,000 | |
Receivables from affiliates | 0 | 0 | ||
Due to affiliate | 2,000,000 | 2,000,000 | ||
Expense reimbursement | 15,000,000 | 15,000,000 | 14,000,000 | |
SPPC | NV Energy | ||||
Related Party Transaction [Line Items] | ||||
SG&A expenses from transactions with related party | 5,000,000 | 5,000,000 | 4,000,000 | |
Receivables from affiliates | 0 | 0 | ||
Due to affiliate | 19,000,000 | 17,000,000 | ||
Income tax receivable (payable), related parties current | 0 | 7,000,000 | ||
Related party, cash received (paid) for income taxes | 3,000,000 | (2,000,000) | (37,000,000) | |
SPPC | Affiliated entity | Subsequent event | NV Energy | ||||
Related Party Transaction [Line Items] | ||||
Proceeds from contributions from affiliates | $ 130,000,000 | |||
SPPC | Distribution | NPC | ||||
Related Party Transaction [Line Items] | ||||
Related party revenue | 43,000,000 | 34,000,000 | 25,000,000 | |
Receivables from affiliates | 0 | 1,000,000 | ||
Purchases from related party | 179,000,000 | 106,000,000 | $ 84,000,000 | |
Due to affiliate | $ 13,000,000 | $ 13,000,000 |
Related Party Transactions - EE
Related Party Transactions - EEGH - Significant Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Capitalized expenditures | $ 6,611 | $ 6,765 | $ 7,364 |
EEGH | |||
Related Party Transaction [Line Items] | |||
Capitalized expenditures | 442 | 374 | 704 |
EEGH | Affiliated entity | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 32 | 4 | |
Purchases of natural gas and transportation and storage services | 5 | 0 | |
Services provided by related parties | 51 | 4 | |
Services provided to related parties | $ 32 | 7 | |
Capitalized expenditures | 14 | 19 | |
EEGH | Affiliated entity | DES, Carolina Gas Services, DEQPS and other | |||
Related Party Transaction [Line Items] | |||
Revenue from related parties | 207 | 249 | |
Purchases of natural gas and transportation and storage services | 10 | 12 | |
Services provided by related parties | 129 | 226 | |
Services provided to related parties | $ 83 | $ 164 |
Related Party Transactions - _2
Related Party Transactions - EEGH - Narrative (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 28, 2021 | |
Related Party Transaction [Line Items] | |||||
Credit facilities | $ 11,281,000,000 | $ 11,030,000,000 | |||
Par value | 49,746,000,000 | ||||
EEGH | |||||
Related Party Transaction [Line Items] | |||||
Distributions | 0 | 4,323,000,000 | $ 457,000,000 | ||
Par value | 3,934,000,000 | ||||
Affiliated entity | EEGH | |||||
Related Party Transaction [Line Items] | |||||
Related party revenue | 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 | 7,000,000 | |||
Affiliated entity | EEGH | Natural Gas Imbalance | Other current liabilities | |||||
Related Party Transaction [Line Items] | |||||
Due to affiliate | 5,000,000 | ||||
Affiliated entity | Northeast Midstream | Northeast Midstream Promissory Note | |||||
Related Party Transaction [Line Items] | |||||
Interest charges | 10,000,000 | ||||
Atlantic Coast Pipeline | Affiliated entity | EGTS | |||||
Related Party Transaction [Line Items] | |||||
Related party revenue | 46,000,000 | 103,000,000 | |||
East Ohio and Eastern Gathering and Processing, Inc. | Affiliated entity | EEGH | |||||
Related Party Transaction [Line Items] | |||||
Interest income, related party | 14,000,000 | ||||
Dominion Energy, Inc. | Affiliated entity | EEGH | |||||
Related Party Transaction [Line Items] | |||||
Notes receivable, related parties | 1,800,000,000 | ||||
Distributions | 4,300,000,000 | 603,000,000 | |||
Dominion Energy, Inc. | Affiliated entity | EEGH | Notes Receivable | |||||
Related Party Transaction [Line Items] | |||||
Interest income, related party | 32,000,000 | 5,000,000 | |||
Dominion Energy, Inc. | Affiliated entity | EEGH | Eastern Energy and DEI Intercompany Revolving Credit Agreement | |||||
Related Party Transaction [Line Items] | |||||
Interest charges | 3,000,000 | 3,000,000 | |||
Dominion Energy, Inc. | Affiliated entity | Cove Point LNG, LP | |||||
Related Party Transaction [Line Items] | |||||
Interest income, related party | 82,000,000 | ||||
Dominion Energy, Inc. | Affiliated entity | Cove Point LNG, LP | Cove Point Term Loan | |||||
Related Party Transaction [Line Items] | |||||
Repayments of long-term lines of credit | $ 3,000,000,000 | ||||
Dominion Energy, Inc. | Affiliated entity | CPMLP Holdings Company, LLC | |||||
Related Party Transaction [Line Items] | |||||
Interest charges | 94,000,000 | ||||
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 | 72,000,000 | |||
Dominion Energy Services, Inc. | Affiliated entity | CPMLP Holdings Company, LLC | |||||
Related Party Transaction [Line Items] | |||||
Interest charges | 3,000,000 | $ 3,000,000 | |||
BHE | Affiliated entity | EEGH | |||||
Related Party Transaction [Line Items] | |||||
Cash (received from) paid to BHE for federal and state income taxes | 47,000,000 | 76,000,000 | |||
BHE | Affiliated entity | EEGH | Tax Receivable | |||||
Related Party Transaction [Line Items] | |||||
Receivables from affiliates | 8,000,000 | 20,000,000 | |||
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 | 8,000,000 | 124,000,000 | |||
Par value | 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 | $ 9,000,000 | |||
Weighted average interest rate | 0.55% | ||||
MidAmerican Energy | Affiliated entity | EEGH | Shared Benefit Plan | |||||
Related Party Transaction [Line Items] | |||||
Due to related parties, noncurrent | $ 95,000,000 | $ 115,000,000 |
Segment Information - Schedule
Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Depreciation and amortization | 3,881 | 3,455 | 3,011 |
Operating income (loss) | 5,327 | 4,291 | 4,150 |
Interest expense | 2,118 | 2,021 | 1,912 |
Capitalized interest | (64) | (80) | (77) |
Allowance for equity funds | 126 | 165 | 173 |
Other Interest and Dividend Income | 89 | 71 | 117 |
Gains (losses) on marketable securities, net | 1,823 | 4,797 | (288) |
Other, net | (17) | 88 | 97 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Total earnings on common shares | 5,669 | 6,917 | 2,950 |
Capitalized expenditures | 6,611 | 6,765 | 7,364 |
Property, plant and equipment, net | 89,816 | 86,128 | 73,305 |
Assets | 132,065 | 127,316 | 100,051 |
BHE and Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 541 | 438 | 556 |
Depreciation and amortization | 2 | 1 | (1) |
Operating income (loss) | (75) | (54) | (51) |
Interest expense | 573 | 517 | 433 |
Income tax (benefit) expense | (286) | 1,089 | (314) |
Total earnings on common shares | 1,319 | 3,092 | (467) |
Capitalized expenditures | 21 | (130) | 10 |
Property, plant and equipment, net | 243 | (22) | (40) |
Assets | 8,220 | 7,933 | 1,330 |
PAC | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 5,296 | 5,341 | 5,068 |
Depreciation and amortization | 1,088 | 1,209 | 954 |
Operating income (loss) | 1,133 | 924 | 1,072 |
Interest expense | 430 | 426 | 401 |
Income tax (benefit) expense | (78) | (75) | 61 |
Total earnings on common shares | 889 | 741 | 773 |
Capitalized expenditures | 1,513 | 2,540 | 2,175 |
Property, plant and equipment, net | 22,914 | 22,430 | 20,973 |
Assets | 27,615 | 26,862 | 24,861 |
MidAmerican Funding | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,547 | 2,728 | 2,927 |
Depreciation and amortization | 914 | 716 | 638 |
Operating income (loss) | 416 | 454 | 549 |
Interest expense | 319 | 322 | 302 |
Income tax (benefit) expense | (680) | (574) | (377) |
Total earnings on common shares | 883 | 818 | 781 |
Capitalized expenditures | 1,912 | 1,836 | 2,810 |
Property, plant and equipment, net | 20,302 | 19,279 | 18,377 |
Assets | 25,352 | 23,530 | 22,664 |
NV Energy | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,107 | 2,854 | 3,037 |
Depreciation and amortization | 549 | 502 | 482 |
Operating income (loss) | 621 | 649 | 655 |
Interest expense | 206 | 227 | 229 |
Income tax (benefit) expense | 56 | 61 | 98 |
Total earnings on common shares | 439 | 410 | 365 |
Capitalized expenditures | 749 | 675 | 657 |
Property, plant and equipment, net | 10,231 | 9,865 | 9,613 |
Assets | 15,239 | 14,501 | 14,128 |
Northern Powergrid | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,188 | 1,022 | 1,013 |
Depreciation and amortization | 305 | 266 | 254 |
Operating income (loss) | 543 | 421 | 472 |
Interest expense | 130 | 130 | 139 |
Income tax (benefit) expense | 192 | 96 | 59 |
Total earnings on common shares | 247 | 201 | 256 |
Capitalized expenditures | 742 | 682 | 602 |
Property, plant and equipment, net | 7,572 | 7,230 | 6,606 |
Assets | 9,326 | 8,782 | 8,385 |
BHE Pipeline Group | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,544 | 1,578 | 1,131 |
Depreciation and amortization | 492 | 231 | 115 |
Operating income (loss) | 1,516 | 779 | 572 |
Interest expense | 143 | 74 | 52 |
Income tax (benefit) expense | 269 | 162 | 138 |
Total earnings on common shares | 807 | 528 | 422 |
Capitalized expenditures | 1,128 | 659 | 687 |
Property, plant and equipment, net | 15,692 | 15,097 | 5,482 |
Assets | 20,434 | 19,541 | 6,100 |
BHE Transmission | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 731 | 659 | 707 |
Depreciation and amortization | 238 | 201 | 240 |
Operating income (loss) | 339 | 316 | 323 |
Interest expense | 155 | 148 | 157 |
Income tax (benefit) expense | 10 | 13 | 11 |
Total earnings on common shares | 247 | 231 | 229 |
Capitalized expenditures | 279 | 372 | 247 |
Property, plant and equipment, net | 6,590 | 6,445 | 6,157 |
Assets | 9,476 | 9,208 | 8,776 |
BHE Renewables | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 981 | 936 | 932 |
Depreciation and amortization | 241 | 284 | 282 |
Operating income (loss) | 329 | 291 | 336 |
Interest expense | 158 | 166 | 174 |
Income tax (benefit) expense | (753) | (602) | (325) |
Total earnings on common shares | 451 | 521 | 431 |
Capitalized expenditures | 225 | 95 | 122 |
Property, plant and equipment, net | 6,103 | 5,645 | 5,976 |
Assets | 11,829 | 12,004 | 9,961 |
HomeServices | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 6,215 | 5,396 | 4,473 |
Depreciation and amortization | 52 | 45 | 47 |
Operating income (loss) | 505 | 511 | 222 |
Interest expense | 4 | 11 | 25 |
Income tax (benefit) expense | 138 | 138 | 51 |
Total earnings on common shares | 387 | 375 | 160 |
Capitalized expenditures | 42 | 36 | 54 |
Property, plant and equipment, net | 169 | 159 | 161 |
Assets | 4,574 | 4,955 | 3,846 |
United States | |||
Segment Reporting Information [Line Items] | |||
Revenues | 23,215 | 19,254 | 18,108 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 4,650 | 6,954 | 1,866 |
Property, plant and equipment, net | 75,774 | 72,583 | 60,634 |
United Kingdom | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,188 | 1,022 | 1,011 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 454 | 338 | 326 |
Property, plant and equipment, net | 7,487 | 7,134 | 6,504 |
Canada | |||
Segment Reporting Information [Line Items] | |||
Revenues | 719 | 653 | 706 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 181 | 173 | 178 |
Property, plant and equipment, net | 6,547 | 6,401 | 6,157 |
Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 28 | 23 | 19 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 9 | 6 | 44 |
Property, plant and equipment, net | $ 8 | $ 10 | $ 10 |
Segment Information - Goodwill
Segment Information - Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill [Roll Forward] | ||
Beginning balance | $ 11,506 | $ 9,722 |
Acquisitions | 140 | 1,731 |
Foreign currency translation | 4 | 53 |
Ending balance | 11,650 | 11,506 |
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 | 1,000 | 978 |
Acquisitions | 0 | 0 |
Foreign currency translation | (8) | 22 |
Ending balance | 992 | 1,000 |
BHE Pipeline Group | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,803 | 73 |
Acquisitions | 11 | 1,730 |
Foreign currency translation | 0 | 0 |
Ending balance | 1,814 | 1,803 |
BHE Transmission | Operating segments | ||
Goodwill [Roll Forward] | ||
Beginning balance | 1,551 | 1,520 |
Acquisitions | 0 | 0 |
Foreign currency translation | 12 | 31 |
Ending balance | 1,563 | 1,551 |
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 | 1,457 | 1,456 |
Acquisitions | 129 | 1 |
Foreign currency translation | 0 | 0 |
Ending balance | $ 1,586 | $ 1,457 |
Segment Information - MEC (Deta
Segment Information - MEC (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)operatingSegmentreportableSegment | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Operating income (loss) | 5,327 | 4,291 | 4,150 |
Interest expense | 2,118 | 2,021 | 1,912 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income attributable to parent | 5,790 | 6,943 | 2,950 |
Capitalized expenditures | 6,611 | 6,765 | 7,364 |
Assets | $ 132,065 | 127,316 | 100,051 |
MEC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 3,547 | 2,720 | 2,925 |
Depreciation and amortization | 914 | 716 | 639 |
Operating income (loss) | 416 | 448 | 548 |
Interest expense | 302 | 304 | 281 |
Income tax (benefit) expense | (675) | (570) | (371) |
Net income attributable to parent | 894 | 826 | 793 |
Capitalized expenditures | 1,912 | 1,836 | 2,810 |
Assets | 23,257 | 21,437 | 20,564 |
MEC | Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 15 | 8 | 28 |
Operating income (loss) | 0 | 0 | 4 |
Income tax (benefit) expense | (1) | 0 | 1 |
Net income attributable to parent | 0 | 1 | 2 |
Assets | 1 | 1 | 3 |
MEC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,529 | 2,139 | 2,237 |
Depreciation and amortization | 861 | 667 | 593 |
Operating income (loss) | 358 | 384 | 473 |
Interest expense | 279 | 281 | 259 |
Income tax (benefit) expense | (677) | (584) | (384) |
Net income attributable to parent | 844 | 780 | 739 |
Capitalized expenditures | 1,806 | 1,704 | 2,684 |
Assets | 21,385 | 19,892 | 19,093 |
MEC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,003 | 573 | 660 |
Depreciation and amortization | 53 | 49 | 46 |
Operating income (loss) | 58 | 64 | 71 |
Interest expense | 23 | 23 | 22 |
Income tax (benefit) expense | 3 | 14 | 12 |
Net income attributable to parent | 50 | 45 | 52 |
Capitalized expenditures | 106 | 132 | 126 |
Assets | $ 1,871 | $ 1,544 | $ 1,468 |
Segment Information - MidAmeric
Segment Information - MidAmerican Funding (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)reportableSegmentoperatingSegment | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Operating income (loss) | 5,327 | 4,291 | 4,150 |
Interest expense | 2,118 | 2,021 | 1,912 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
Capitalized expenditures | 6,611 | 6,765 | 7,364 |
Assets | 132,065 | 127,316 | 100,051 |
Goodwill | $ 11,650 | 11,506 | 9,722 |
MidAmerican Funding, LLC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 3,547 | 2,728 | 2,927 |
Depreciation and amortization | 914 | 716 | 639 |
Operating income (loss) | 416 | 454 | 549 |
Interest expense | 319 | 322 | 302 |
Income tax (benefit) expense | (680) | (574) | (377) |
Net income (loss) attributable to parent | 883 | 818 | 781 |
Capitalized expenditures | 1,912 | 1,836 | 2,810 |
Assets | 24,531 | 22,711 | 21,840 |
Goodwill | 1,270 | 1,270 | |
MidAmerican Funding, LLC | Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 15 | 16 | 30 |
Operating income (loss) | 0 | 6 | 5 |
Interest expense | 17 | 18 | 21 |
Income tax (benefit) expense | (6) | (4) | (5) |
Net income (loss) attributable to parent | (11) | (7) | (10) |
Assets | 5 | 5 | 9 |
MidAmerican Funding, LLC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,529 | 2,139 | 2,237 |
Depreciation and amortization | 861 | 667 | 593 |
Operating income (loss) | 358 | 384 | 473 |
Interest expense | 279 | 281 | 259 |
Income tax (benefit) expense | (677) | (584) | (384) |
Net income (loss) attributable to parent | 844 | 780 | 739 |
Capitalized expenditures | 1,806 | 1,704 | 2,684 |
Assets | 22,576 | 21,083 | 20,284 |
Goodwill | 1,191 | 1,191 | |
MidAmerican Funding, LLC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,003 | 573 | 660 |
Depreciation and amortization | 53 | 49 | 46 |
Operating income (loss) | 58 | 64 | 71 |
Interest expense | 23 | 23 | 22 |
Income tax (benefit) expense | 3 | 14 | 12 |
Net income (loss) attributable to parent | 50 | 45 | 52 |
Capitalized expenditures | 106 | 132 | 126 |
Assets | 1,950 | 1,623 | $ 1,547 |
Goodwill | $ 79 | $ 79 |
Segment Information - SPPC (Det
Segment Information - SPPC (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)reportableSegmentoperatingSegment | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of reportable segments | operatingSegment | 8 | ||
Revenues | $ 25,150 | $ 20,952 | $ 19,844 |
Operating income (loss) | 5,327 | 4,291 | 4,150 |
Interest expense | 2,118 | 2,021 | 1,912 |
Allowance for equity funds | 126 | 165 | 173 |
Interest and dividend income | 89 | 71 | 117 |
Other, net | (17) | 88 | 97 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Assets | $ 132,065 | 127,316 | 100,051 |
SPPC | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | reportableSegment | 2 | ||
Revenues | $ 965 | 854 | 889 |
Operating income (loss) | 167 | 165 | 171 |
Interest expense | 54 | 56 | 48 |
Allowance for borrowed funds | 2 | 2 | 1 |
Allowance for equity funds | 7 | 4 | 3 |
Interest and dividend income | 9 | 4 | 3 |
Other, net | 11 | 7 | 1 |
Income (loss) before income tax expense (benefit) and equity income (loss) | 142 | 126 | 131 |
Assets | 4,223 | 3,919 | 3,671 |
SPPC | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | 167 | 165 | 171 |
SPPC | Other | |||
Segment Reporting Information [Line Items] | |||
Assets | 29 | 37 | 44 |
SPPC | Regulated electric | |||
Segment Reporting Information [Line Items] | |||
Revenues | 848 | 738 | 770 |
SPPC | Regulated electric | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 848 | 738 | 770 |
Operating income (loss) | 148 | 147 | 150 |
Assets | 3,829 | 3,540 | 3,319 |
SPPC | Regulated natural gas | |||
Segment Reporting Information [Line Items] | |||
Revenues | 117 | 116 | 119 |
SPPC | Regulated natural gas | Operating segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 117 | 116 | 119 |
Operating income (loss) | 19 | 18 | 21 |
Assets | $ 365 | $ 342 | $ 308 |
Schedule I Condensed Financia_2
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||||
Cash and cash equivalents | $ 1,096 | $ 1,290 | ||
Accounts receivable - affiliate | 2,468 | 2,107 | ||
Other current assets | 1,628 | 2,458 | ||
Total current assets | 8,248 | 9,447 | ||
Goodwill | 11,650 | 11,506 | $ 9,722 | |
Other assets | 3,144 | 2,758 | ||
Total assets | 132,065 | 127,316 | 100,051 | |
Current liabilities: | ||||
Total current liabilities | 8,762 | 9,138 | ||
BHE senior debt | 13,003 | 12,997 | ||
BHE junior subordinated debentures | 100 | 100 | ||
Long-term debt | 49,762 | 49,866 | ||
Other long-term liabilities | 4,319 | 4,178 | ||
Total liabilities | 81,476 | 80,339 | ||
Shareholders' equity: | ||||
Preferred stock | 1,650 | 3,750 | ||
Common stock | 0 | 0 | ||
Additional paid-in capital | 6,374 | 6,377 | ||
Long-term income tax receivable | 744 | 658 | ||
Retained earnings | 40,754 | 35,093 | ||
Accumulated other comprehensive loss, net | (1,340) | (1,552) | ||
Total shareholder's equity | 46,694 | 43,010 | ||
Noncontrolling interest | 3,895 | 3,967 | ||
Total equity | 50,589 | 46,977 | $ 32,578 | $ 29,723 |
Total liabilities and shareholder's equity | 132,065 | 127,316 | ||
Parent Company | ||||
Current assets: | ||||
Cash and cash equivalents | 18 | 623 | ||
Accounts receivable - affiliate | 117 | 96 | ||
Notes receivable - affiliate | 189 | 177 | ||
Income tax receivable | 23 | 19 | ||
Other current assets | 13 | 1,301 | ||
Total current assets | 360 | 2,216 | ||
Investments in subsidiaries | 58,190 | 48,654 | ||
Other | 237 | 6,103 | ||
Goodwill | 1,221 | 1,221 | ||
Other assets | 1,101 | 488 | ||
Total assets | 61,109 | 58,682 | ||
Current liabilities: | ||||
Accounts payable and other current liabilities | 397 | 341 | ||
Note payable to affiliate | 353 | 200 | ||
Current portion of senior debt | 0 | 450 | ||
Total current liabilities | 750 | 991 | ||
BHE senior debt | 13,003 | 12,997 | ||
BHE junior subordinated debentures | 100 | 100 | ||
Notes payable - affiliate | 2 | 116 | ||
Other long-term liabilities | 560 | 1,468 | ||
Total liabilities | 14,415 | 15,672 | ||
Shareholders' equity: | ||||
Preferred stock | 1,650 | 3,750 | ||
Common stock | 0 | 0 | ||
Additional paid-in capital | 6,374 | 6,377 | ||
Long-term income tax receivable | 744 | 658 | ||
Retained earnings | 40,754 | 35,093 | ||
Accumulated other comprehensive loss, net | (1,340) | (1,552) | ||
Total shareholder's equity | 46,694 | 43,010 | ||
Noncontrolling interest | 0 | 0 | ||
Total equity | 46,694 | 43,010 | ||
Total liabilities and shareholder's equity | 61,109 | 58,682 | ||
MidAmerican Funding LLC | ||||
Current assets: | ||||
Receivables from affiliates | 1 | 1 | ||
Investments in subsidiaries | 10,070 | 9,176 | ||
Total assets | 10,071 | 9,177 | ||
Current liabilities: | ||||
Other accrued current liabilities | 5 | 5 | ||
Notes payable - affiliate | 25 | 13 | ||
Long-term debt | 240 | 240 | ||
Total liabilities | 270 | 258 | ||
Shareholders' equity: | ||||
Paid-in capital | 1,679 | 1,679 | ||
Retained earnings | 8,122 | 7,240 | ||
Total shareholder's equity | 9,801 | 8,919 | ||
Total liabilities and shareholder's equity | $ 10,071 | $ 9,177 |
Schedule I Condensed Financia_3
Schedule I Condensed Financial Statements (Parent Company Only) - Condensed Balance Sheets (Parenthetical) (Details) - $ / shares shares in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 | 2 | 4 |
Preferred stock, shares issued | 2 | 4 |
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 | 2 | 4 |
Preferred stock, shares issued | 2 | 4 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating costs and expenses: | |||
Depreciation and amortization | $ 3,881 | $ 3,455 | $ 3,011 |
Total operating expenses | 19,823 | 16,661 | 15,694 |
Operating income | 5,327 | 4,291 | 4,150 |
Other income (expense): | |||
Interest expense | (2,118) | (2,021) | (1,912) |
Other, net | (17) | 88 | 97 |
Total other income (expense) | (33) | 3,180 | (1,736) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 5,294 | 7,471 | 2,414 |
Income tax (benefit) expense | (1,132) | 308 | (598) |
Equity income (loss) | (237) | (149) | (44) |
Net income | 6,189 | 7,014 | 2,968 |
Net income attributable to noncontrolling interests | 399 | 71 | 18 |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,950 |
Preferred dividends | 121 | 26 | 0 |
Earnings on common shares | 5,669 | 6,917 | 2,950 |
MidAmerican Funding LLC | |||
Other income (expense): | |||
Interest expense | (16) | (16) | (16) |
Income (loss) before income tax expense (benefit) and equity income (loss) | (16) | (16) | (16) |
Income tax (benefit) expense | (5) | (5) | (5) |
Equity income (loss) | 894 | 829 | 792 |
Net income (loss) attributable to parent | 883 | 818 | 781 |
Parent Company | |||
Operating costs and expenses: | |||
General and administration | 83 | 57 | 49 |
Depreciation and amortization | 6 | 4 | 5 |
Total operating expenses | 89 | 61 | 54 |
Operating income | (89) | (61) | (54) |
Other income (expense): | |||
Interest expense | (580) | (527) | (452) |
Other, net | 1,846 | 4,789 | (271) |
Total other income (expense) | 1,266 | 4,262 | (723) |
Income (loss) before income tax expense (benefit) and equity income (loss) | 1,177 | 4,201 | (777) |
Income tax (benefit) expense | 194 | 1,089 | (312) |
Equity income (loss) | 4,807 | 3,832 | 3,419 |
Net income | 5,790 | 6,944 | 2,954 |
Net income attributable to noncontrolling interests | 0 | 1 | 3 |
Net income (loss) attributable to parent | 5,790 | 6,943 | 2,951 |
Preferred dividends | 121 | 26 | 0 |
Earnings on common shares | $ 5,669 | $ 6,917 | $ 2,951 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $ 6,189 | $ 7,014 | $ 2,968 |
Other comprehensive income, net of tax | 217 | 154 | 239 |
Comprehensive income | 6,406 | 7,168 | 3,207 |
Comprehensive income attributable to noncontrolling interests | 404 | 71 | 18 |
Comprehensive income (loss) attributable to parent | 6,002 | 7,097 | 3,189 |
Parent Company | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 5,790 | 6,944 | 2,954 |
Other comprehensive income, net of tax | 212 | 154 | 239 |
Comprehensive income | 6,002 | 7,098 | 3,193 |
Comprehensive income attributable to noncontrolling interests | 0 | 1 | 3 |
Comprehensive income (loss) attributable to parent | $ 6,002 | $ 7,097 | $ 3,190 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | $ 8,692 | $ 6,224 | $ 6,206 |
Cash flows from investing activities: | |||
Purchases of marketable securities | (297) | (370) | (262) |
Proceeds from sales of marketable securities | 273 | 325 | 238 |
Purchases of other investments | (20) | (1,323) | 0 |
Proceeds from other investments | 1,300 | 13 | 18 |
Other, net | (74) | 76 | 51 |
Net cash flows from investing activities | (5,763) | (13,165) | (8,963) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 3,750 | 0 |
Preferred stock redemptions | (2,100) | 0 | 0 |
Preferred dividends | (132) | (7) | 0 |
Common stock purchases | 0 | (126) | (293) |
Net (repayments of) proceeds from short-term debt | (276) | (939) | 684 |
Other, net | (79) | (134) | (37) |
Net cash flows from financing activities | (3,131) | 7,103 | 3,124 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (201) | 177 | 385 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 1,445 | 1,268 | 883 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | 1,244 | 1,445 | 1,268 |
MidAmerican Funding LLC | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash flows from operating activities | (12) | (12) | (12) |
Cash flows from investing activities: | |||
Net cash flows from investing activities | 0 | 0 | 0 |
Cash flows from financing activities: | |||
Net change in amounts payable to subsidiary | 12 | 12 | 12 |
Net cash flows from financing activities | 12 | 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 | 1,819 | 1,639 | 1,780 |
Cash flows from investing activities: | |||
Investments in subsidiaries | (1,206) | (6,422) | (1,972) |
Purchases of marketable securities | (29) | (55) | (42) |
Proceeds from sales of marketable securities | 28 | 22 | 41 |
Purchases of other investments | 0 | (1,290) | 0 |
Proceeds from other investments | 1,290 | 0 | 1 |
Notes receivable from affiliate, net | 200 | (121) | (112) |
Other, net | (20) | (20) | (5) |
Net cash flows from investing activities | 263 | (7,886) | (2,089) |
Cash flows from financing activities: | |||
Proceeds from issuance of preferred stock | 0 | 3,750 | 0 |
Preferred stock redemptions | (2,100) | 0 | 0 |
Preferred dividends | (132) | (7) | 0 |
Common stock purchases | 0 | (126) | (293) |
Proceeds from BHE senior debt | 0 | 5,212 | 0 |
Repayments of BHE senior debt | (450) | (350) | 0 |
Net (repayments of) proceeds from short-term debt | 0 | (1,590) | 607 |
Other, net | (5) | (32) | (1) |
Net cash flows from financing activities | (2,687) | 6,857 | 313 |
Net change in cash and cash equivalents and restricted cash and cash equivalents | (605) | 610 | 4 |
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period | 623 | 13 | 9 |
Cash and cash equivalents and restricted cash and cash equivalents at end of period | $ 18 | $ 623 | $ 13 |
Schedule I Condensed Financia_7
Schedule I Condensed Financial Statements (Parent Company Only) - Notes (Details) - USD ($) $ in Millions | 2 Months Ended | 12 Months Ended | ||
Feb. 28, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
Tax equity contributions | $ 0 | $ 2,736 | $ 1,619 | |
BYD Company Limited common stock | ||||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
BYD Company Limited common stock | 7,693 | 5,897 | ||
Parent Company | ||||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
Proceeds from dividends received | 2,400 | 2,000 | $ 2,000 | |
Guarantor obligation | 1,400 | |||
Tax equity contributions | 356 | |||
Parent Company | Subsequent event | ||||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
Proceeds from dividends received | $ 102 | |||
Parent Company | BYD Company Limited common stock | ||||
Investments, Including Equity Method And Restricted Cash And Investments [Line Items] | ||||
BYD Company Limited common stock | $ 0 | $ 5,897 |
Schedule I Condensed Financia_8
Schedule I Condensed Financial Statements (Parent Company Only) - Notes - MidAmerican Funding (Details) - MidAmerican Funding LLC - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net change in amounts payable to subsidiary | $ 12 | $ 12 | $ 12 |
Dividends received | 440 | ||
Noncash dividend | 8 | ||
MHC, Inc. | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net change in amounts payable to subsidiary | $ 12 | $ 12 | $ 12 |