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Schedule I Condensed Financial Statements (Parent Company Only)
 12 Months Ended
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]  
Schedule I Condensed Financial Statements (Parent Company Only) Schedule I
BERKSHIRE HATHAWAY ENERGY COMPANY
PARENT COMPANY ONLY
CONDENSED BALANCE SHEETS
(Amounts in millions)
As of December 31,
20222021
ASSETS
Current assets:
Cash and cash equivalents$32 $18 
Accounts receivable4 — 
Accounts receivable - affiliate263 117 
Notes receivable - affiliate10 189 
Income tax receivable28 23 
Other current assets12 13 
Total current assets349 360 
Investments in subsidiaries59,944 58,190 
Other investments205 237 
Goodwill1,221 1,221 
Other assets1,152 1,101 
Total assets$62,871 $61,109 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and other current liabilities$429 $397 
Notes payable - affiliate287 353 
Short-term debt245 — 
Current portion of BHE senior debt900 — 
Total current liabilities1,861 750 
BHE senior debt13,096 13,003 
BHE junior subordinated debentures100 100 
Notes payable - affiliate477 2 
Other long-term liabilities505 560 
Total liabilities16,039 14,415 
Equity:
BHE shareholders' equity:
Preferred stock - 100 shares authorized, $0.01 par value, 1 and 2 shares issued and outstanding
850 1,650 
Common stock - 115 shares authorized, no par value, 76 shares issued and outstanding
— — 
Additional paid-in capital6,298 6,374 
Long-term income tax receivable— (744)
Retained earnings41,833 40,754 
Accumulated other comprehensive loss, net(2,149)(1,340)
Total BHE shareholders' equity46,832 46,694 
Noncontrolling interest— — 
Total equity46,832 46,694 
Total liabilities and equity$62,871 $61,109 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
BERKSHIRE HATHAWAY ENERGY COMPANY
PARENT COMPANY ONLY
CONDENSED STATEMENTS OF OPERATIONS
(Amounts in millions)
Years Ended December 31,
202220212020
Operating expenses:
General and administration$31 $83 $57 
Depreciation and amortization8 6 4 
Total operating expenses39 89 61 
Operating loss(39)(89)(61)
Other income (expense):
Interest expense(629)(580)(527)
Other, net(45)1,846 4,789 
Total other income (expense)(674)1,266 4,262 
(Loss) income before income tax (benefit) expense and equity income(713)1,177 4,201 
Income tax (benefit) expense(259)194 1,089 
Equity income3,175 4,807 3,832 
Net income2,721 5,790 6,944 
Net income attributable to noncontrolling interest— — 1 
Net income attributable to BHE shareholders2,721 5,790 6,943 
Preferred dividends46 121 26 
Earnings on common shares$2,675 $5,669 $6,917 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
BERKSHIRE HATHAWAY ENERGY COMPANY
PARENT COMPANY ONLY
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in millions)
Years Ended December 31,
202220212020
Net income$2,721 $5,790 $6,944 
Other comprehensive (loss) income, net of tax(809)212 154 
Comprehensive income1,912 6,002 7,098 
Comprehensive income attributable to noncontrolling interests— — 1 
Comprehensive income attributable to BHE shareholders$1,912 $6,002 $7,097 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
BERKSHIRE HATHAWAY ENERGY COMPANY
PARENT COMPANY ONLY
CONDENSED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended December 31,
202220212020
Cash flows from operating activities$1,252 $1,819 $1,639 
Cash flows from investing activities:
Investments in subsidiaries(1,085)(1,206)(6,422)
Purchases of marketable securities(20)(29)(55)
Proceeds from sales of marketable securities11 28 22 
Purchases of other investments— — (1,290)
Proceeds from other investments— 1,290 — 
Notes receivable from affiliate, net390 200 (121)
Other, net(44)(20)(20)
Net cash flows from investing activities(748)263 (7,886)
Cash flows from financing activities:
Proceeds from issuance of preferred stock— — 3,750 
Preferred stock redemptions(800)(2,100)— 
Preferred dividends(50)(132)(7)
Common stock purchases(870)— (126)
Proceeds from BHE senior debt986 — 5,212 
Repayments of BHE senior debt— (450)(350)
Net proceeds from (repayments of) short-term debt245 — (1,590)
Other, net(1)(5)(32)
Net cash flows from financing activities(490)(2,687)6,857 
Net change in cash and cash equivalents14 (605)610 
Cash and cash equivalents at beginning of year18 623 13 
Cash and cash equivalents at end of year$32 $18 $623 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
BERKSHIRE HATHAWAY ENERGY COMPANY
PARENT COMPANY ONLY
NOTES TO CONDENSED FINANCIAL STATEMENTS

Basis of Presentation - The condensed financial information of BHE investments in subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded in the Condensed Balance Sheets. The income from operations of subsidiaries is reported on a net basis as equity income in the Condensed Statements of Operations.

Dividends and distributions from subsidiaries - Cash dividends paid to BHE by its subsidiaries for the years ended December 31, 2022, 2021 and 2020 were $1.9 billion, $2.4 billion and $2.0 billion, respectively. In January and February 2023, BHE received cash dividends from its subsidiaries totaling $495 million.

Guarantees and commitments - BHE has issued guarantees and letters of credit in respect of subsidiaries, equity method investments and other related parties aggregating $1.6 billion and commitments.

See the notes to the consolidated BHE financial statements in Part II, Item 8 for other disclosures regarding long-term obligations (Notes 9, 10 and 11) and shareholders' equity (Note 18).
MidAmerican Funding LLC  
Condensed Financial Statements, Captions [Line Items]  
Schedule I Condensed Financial Statements (Parent Company Only)
Schedule I
MIDAMERICAN FUNDING, LLC
PARENT COMPANY ONLY
CONDENSED BALANCE SHEETS
(Amounts in millions)
As of December 31,
20222021
ASSETS
Current assets:
Receivables from affiliates$1 $1 
Investments in and advances to subsidiaries10,959 10,070 
Total assets$10,960 $10,071 
LIABILITIES AND MEMBER'S EQUITY
Current liabilities:
Interest accrued and other current liabilities$5 $5 
Payable to affiliate36 25 
Long-term debt240 240 
Total liabilities281 270 
Member's equity:
Paid-in capital1,679 1,679 
Retained earnings9,000 8,122 
Total member's equity10,679 9,801 
Total liabilities and member's equity$10,960 $10,071 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
MIDAMERICAN FUNDING, LLC
PARENT COMPANY ONLY
CONDENSED STATEMENTS OF OPERATIONS
(Amounts in millions)
Years Ended December 31,
202220212020
Other income (expense):
Interest expense$(17)$(16)$(16)
Loss before income taxes(17)(16)(16)
Income tax benefit(5)(5)(5)
Equity in undistributed earnings of subsidiaries959 894 829 
Net income$947 $883 $818 

The accompanying notes are an integral part of this financial statement schedule.



MIDAMERICAN FUNDING, LLC
PARENT COMPANY ONLY
CONDENSED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended December 31,
202220212020
Net cash flows from operating activities$(12)$(12)$(12)
Net cash flows from investing activities:
Dividend from subsidiary69 — — 
Net cash flows from investing activities69 — — 
Net cash flows from financing activities:
Distribution to member(69)— — 
Net change in amounts payable to subsidiary12 12 12 
Net cash flows from financing activities(57)12 12 
Net change in cash and cash equivalents— — — 
Cash and cash equivalents at beginning of year— — — 
Cash and cash equivalents at end of year$— $— $— 

The accompanying notes are an integral part of this financial statement schedule.
Schedule I
MIDAMERICAN FUNDING, LLC
PARENT COMPANY ONLY
NOTES TO CONDENSED FINANCIAL STATEMENTS

Incorporated by reference are MidAmerican Funding, LLC and Subsidiaries Consolidated Statements of Changes in Member's Equity for the three years ended December 31, 2022, 2021 and 2020 in Part II, Item 8.

Basis of Presentation - The condensed financial information of MidAmerican Funding, LLC's ("MidAmerican Funding's") investments in subsidiaries is presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in and advances to subsidiaries are recorded on the Condensed Balance Sheets. The income from operations of the subsidiaries is reported on a net basis as equity in undistributed earnings of subsidiary companies on the Condensed Statements of Operations. The Condensed Statements of Comprehensive Income have been omitted as net income equals comprehensive income for the years ended December 31, 2022, 2021 and 2020.

Income Taxes - MidAmerican Funding is not subject to income tax and is disregarded by the taxing authorities. However, a portion of Berkshire Hathaway Inc.'s consolidated income tax expense has been allocated to MidAmerican Funding for presentation in its separate financial statements commensurate with computing MidAmerican Funding's provision on a stand-alone basis.

Payable to Affiliate - MHC, Inc. ("MHC") settles all obligations of MidAmerican Funding including interest costs on, and repayments of, MidAmerican Funding's long-term debt, income taxes and distributions to parent. MHC paid $81 million,$12 million and $12 million in 2022, 2021 and 2020, respectively, on behalf of MidAmerican Funding.

Distribution to Parent - In 2022, MidAmerican Funding declared and paid, via MHC, a cash dividend of $69 million. In January 2023, MidAmerican Funding declared and paid, via MHC, a cash dividend of $100 million.

See the notes to the consolidated MidAmerican Funding financial statements in Part II, Item 8 for other disclosures.