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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,908 $ 1,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,088 994
Deferred income taxes and investment tax credits 323 379
Equity earnings (607) (701)
Foreign currency transaction (gains) losses, net (4) 22
Share-based compensation expense 31 32
Fixed-price contracts and other derivatives (569) 122
Other 205 101
Net change in working capital components 1,474 (3)
Insurance receivable for Aliso Canyon costs 0 16
Distributions from investments 402 403
Changes in other noncurrent assets and liabilities, net (514) (317)
Net cash provided by operating activities 3,737 2,364
CASH FLOWS FROM INVESTING ACTIVITIES    
Expenditures for property, plant and equipment (4,282) (2,361)
Expenditures for investments (184) (181)
Purchases of nuclear decommissioning and other trust assets (322) (397)
Proceeds from sales of nuclear decommissioning and other trust assets 356 397
Other 11 7
Net cash used in investing activities (4,421) (2,535)
CASH FLOWS FROM FINANCING ACTIVITIES    
Common dividends paid (734) (711)
Preferred dividends paid (22) (22)
Issuances of common stock 0 3
Repurchases of common stock (31) (476)
Issuances of debt (maturities greater than 90 days) 5,614 4,818
Payments on debt (maturities greater than 90 days) and finance leases (3,392) (1,543)
Decrease in short-term debt, net (388) (2,011)
Advances from unconsolidated affiliates 14 18
Proceeds from sales of noncontrolling interests 265 1,732
Distributions to noncontrolling interests (252) (106)
Contributions from noncontrolling interests 543 13
Settlement of cross-currency swaps (99) 0
Other (61) (30)
Net cash provided by financing activities 1,457 1,685
Effect of exchange rate changes on cash, cash equivalents and restricted cash 7 (2)
Increase in cash, cash equivalents and restricted cash 780 1,512
Cash, cash equivalents and restricted cash, January 1 462 581
Cash, cash equivalents and restricted cash, June 30 1,242 2,093
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest payments, net of amounts capitalized 612 466
Income tax payments, net of refunds 120 233
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Repayment of advances from unconsolidated affiliate in lieu of distribution 36 32
Accrued capital expenditures 863 476
Contributions from NCI 186 0
Increase in finance lease obligations for investment in PP&E 36 22
(Decrease) increase in ARO for investment in PP&E (46) 55
Preferred stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid 11 11
Common stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid $ 375 $ 359