XML 96 R52.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting Information [Line Items]  
Segment Information Segment Information
The Company's reportable segments with foreign operations include Northern Powergrid, whose business is principally in the United Kingdom, and BHE Transmission, whose business includes operations in Canada. Intersegment eliminations and adjustments, including the allocation of goodwill, have been made. Information related to the Company's reportable segments is shown below (in millions):
 Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
 2022202120222021
Operating revenue:
PacifiCorp$1,314 $1,298 $2,611 $2,540 
MidAmerican Funding897 693 1,902 1,760 
NV Energy899 767 1,592 1,358 
Northern Powergrid345 280 660 580 
BHE Pipeline Group856 706 1,891 1,799 
BHE Transmission183 182 366 362 
BHE Renewables294 267 461 457 
HomeServices1,672 1,763 2,879 2,995 
BHE and Other(1)
152 108 280 294 
Total operating revenue$6,612 $6,064 $12,642 $12,145 
Depreciation and amortization:
PacifiCorp$279 $275 $559 $539 
MidAmerican Funding277 209 527 416 
NV Energy139 137 279 273 
Northern Powergrid100 73 180 144 
BHE Pipeline Group125 121 256 239 
BHE Transmission60 60 118 118 
BHE Renewables66 61 131 121 
HomeServices14 12 29 23 
BHE and Other(1)
(1)(1)2 1 
Total depreciation and amortization$1,059 $947 $2,081 $1,874 
 Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
 2022202120222021
Operating income:  
PacifiCorp$158 $283 $374 $517 
MidAmerican Funding90 103 190 151 
NV Energy140 145 202 215 
Northern Powergrid110 126 269 277 
BHE Pipeline Group352 245 890 863 
BHE Transmission84 85 167 166 
BHE Renewables134 97 132 130 
HomeServices117 179 145 291 
BHE and Other(1)
22 (55)74 (69)
Total operating income1,207 1,208 2,443 2,541 
Interest expense(550)(532)(1,082)(1,062)
Capitalized interest18 14 35 28 
Allowance for equity funds42 30 80 56 
Interest and dividend income30 26 53 47 
Gains on marketable securities, net2,528 1,966 1,271 848 
Other, net(26)48 (21)56 
Total income before income tax expense (benefit) and equity loss$3,249 $2,760 $2,779 $2,514 
Interest expense:
PacifiCorp$107 $105 $213 $212 
MidAmerican Funding83 78 165 156 
NV Energy52 51 103 103 
Northern Powergrid34 32 66 65 
BHE Pipeline Group36 40 73 78 
BHE Transmission38 40 76 78 
BHE Renewables45 40 86 80 
HomeServices2 1 3 2 
BHE and Other(1)
153 145 297 288 
Total interest expense$550 $532 $1,082 $1,062 
Earnings on common shares:
PacifiCorp$83 $226 $213 $395 
MidAmerican Funding204 211 445 355 
NV Energy93 100 122 134 
Northern Powergrid71 (25)182 79 
BHE Pipeline Group199 100 521 483 
BHE Transmission62 60 124 119 
BHE Renewables249 181 353 197 
HomeServices84 135 105 219 
BHE and Other(1)
1,839 1,256 674 229 
Total earnings on common shares$2,884 $2,244 $2,739 $2,210 
 As of
 June 30,December 31,
20222021
Assets:
PacifiCorp$28,596 $27,615 
MidAmerican Funding25,733 25,352 
NV Energy15,905 15,239 
Northern Powergrid9,343 9,326 
BHE Pipeline Group20,691 20,434 
BHE Transmission9,441 9,476 
BHE Renewables11,853 11,829 
HomeServices4,115 4,574 
BHE and Other(1)
9,618 8,220 
Total assets$135,295 $132,065 

(1)The differences between the reportable segment amounts and the consolidated amounts, described as BHE and Other, relate principally to other entities, including MidAmerican Energy Services, LLC, corporate functions and intersegment eliminations.
 Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
 2022202120222021
Operating revenue by country:
U.S.$6,087 $5,604 $11,621 $11,201 
United Kingdom345 280 660 580 
Canada180 180 361 357 
Other— — — 7 
Total operating revenue by country$6,612 $6,064 $12,642 $12,145 
Income before income tax expense (benefit) and equity loss by country:
U.S.$3,117 $2,611 $2,463 $2,188 
United Kingdom87 104 226 236 
Canada46 46 92 85 
Other(1)(1)(2)5 
Total income before income tax expense (benefit) and equity loss by country$3,249 $2,760 $2,779 $2,514 

The following table shows the change in the carrying amount of goodwill by reportable segment for the six-month period ended June 30, 2022 (in millions):
BHE Pipeline Group
PacifiCorpMidAmerican FundingNV EnergyNorthern PowergridBHE TransmissionBHE RenewablesHomeServices
Total
 
December 31, 2021$1,129 $2,102 $2,369 $992 $1,814 $1,563 $95 $1,586 $11,650 
Acquisitions— — — — — — — 8 8 
Foreign currency translation
— — — (70)— (29)— — (99)
June 30, 2022$1,129 $2,102 $2,369 $922 $1,814 $1,534 $95 $1,594 $11,559 
MEC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
MidAmerican Energy has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost.

The following tables provide information on a reportable segment basis (in millions):
Three-Month PeriodsSix-Month Periods
 Ended June 30,Ended June 30,
2022202120222021
Operating revenue:
Regulated electric$725 $586 $1,333 $1,131 
Regulated natural gas171 106 567 618 
Other1 1 2 11 
Total operating revenue$897 $693 $1,902 $1,760 
Operating income:
Regulated electric$87 $103 $138 $112 
Regulated natural gas3 — 52 39 
Total operating income90 103 190 151 
Interest expense(78)(74)(156)(148)
Allowance for borrowed funds5 2 9 4 
Allowance for equity funds14 8 29 14 
Other, net(12)15 (15)26 
Income before income tax benefit$19 $54 $57 $47 

As of
June 30,
2022		December 31,
2021
Assets:
Regulated electric$21,967 $21,385 
Regulated natural gas1,667 1,871 
Other1 1 
Total assets$23,635 $23,257 
MidAmerican Funding, LLC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
MidAmerican Funding has identified two reportable segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by regulatory agencies; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance. Common operating costs, interest income, interest expense and income tax expense are allocated to each segment based on certain factors, which primarily relate to the nature of the cost. "Other" in the tables below consists of the financial results and assets of nonregulated operations, MHC and MidAmerican Funding.

The following tables provide information on a reportable segment basis (in millions):
Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
2022202120222021
Operating revenue:
Regulated electric$725 $586 $1,333 $1,131 
Regulated natural gas171 106 567 618 
Other1 1 2 11 
Total operating revenue$897 $693 $1,902 $1,760 
Operating income:
Regulated electric$87 $103 $138 $112 
Regulated natural gas3 — 52 39 
Total operating income90 103 190 151 
Interest expense(83)(78)(165)(156)
Allowance for borrowed funds5 2 9 4 
Allowance for equity funds14 8 29 14 
Other, net(10)16 (14)26 
Income before income tax benefit$16 $51 $49 $39 

As of
June 30,
2022		December 31,
2021
Assets(1):
Regulated electric$23,158 $22,576 
Regulated natural gas1,746 1,950 
Other7 5 
Total assets$24,911 $24,531 
(1)Assets by reportable segment reflect the assignment of goodwill to applicable reporting units.
SPPC  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
Sierra Pacific has identified two reportable operating segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by the PUCN; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance.

The following tables provide information on a reportable segment basis (in millions):
Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
2022202120222021
Operating revenue:
Regulated electric$230 $189 $457 $370 
Regulated natural gas28 20 80 59 
Total operating revenue$258 $209 $537 $429 
Operating income:
Regulated electric$19 $21 $49 $52 
Regulated natural gas4 4 12 12 
Total operating income23 25 61 64 
Interest expense(14)(13)(27)(27)
Allowance for borrowed funds— 1 1 1 
Allowance for equity funds2 2 4 3 
Interest and dividend income4 1 7 3 
Other, net— 2 2 6 
Income before income tax expense$15 $18 $48 $50 

As of
June 30,December 31,
20222021
Assets:
Regulated electric$3,995 $3,829 
Regulated natural gas385 365 
Other(1)
35 29 
Total assets$4,415 $4,223 

(1)    Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments.