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Schedule I Condensed Financial Statements (Parent Company Only)
 12 Months Ended
Dec. 31, 2023
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,
20232022
ASSETS
Current assets:
Cash and cash equivalents$166 $32 
Accounts receivable— 4 
Accounts receivable - affiliate861 263 
Notes receivable - affiliate19 10 
Income tax receivable44 28 
Other current assets15 12 
Total current assets1,105 349 
Investments in subsidiaries61,032 59,944 
Other investments248 205 
Goodwill1,221 1,221 
Other assets1,291 1,152 
Total assets$64,897 $62,871 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and other current liabilities$613 $429 
Notes payable - affiliate202 287 
Short-term debt1,935 245 
Current portion of BHE senior debt— 900 
Total current liabilities2,750 1,861 
BHE senior debt13,101 13,096 
BHE junior subordinated debentures100 100 
Notes payable - affiliate— 477 
Other long-term liabilities512 505 
Total liabilities16,463 16,039 
Equity:
BHE shareholders' equity:
Preferred stock - 100 shares authorized, $0.01 par value, 0 and 1 shares issued and outstanding
— 850 
Common stock - 115 shares authorized, no par value, 76 shares issued and outstanding
— — 
Additional paid-in capital5,573 6,298 
Retained earnings44,765 41,833 
Accumulated other comprehensive loss, net(1,904)(2,149)
Total BHE shareholders' equity48,434 46,832 
Total equity48,434 46,832 
Total liabilities and equity$64,897 $62,871 

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,
202320222021
Operating expenses:
General and administration$77 $31 $83 
Depreciation and amortization7 8 6 
Total operating expenses84 39 89 
Operating loss(84)(39)(89)
Other income (expense):
Interest expense(702)(629)(580)
Other, net49 (45)1,846 
Total other income (expense)(653)(674)1,266 
(Loss) income before income tax expense (benefit) and equity income (loss)(737)(713)1,177 
Income tax expense (benefit)(233)(259)194 
Equity income (loss)3,524 3,175 4,807 
Net income3,020 2,721 5,790 
Net income attributable to noncontrolling interest— — — 
Net income attributable to BHE shareholders3,020 2,721 5,790 
Preferred dividends34 46 121 
Earnings on common shares$2,986 $2,675 $5,669 

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,
202320222021
Net income$3,020 $2,721 $5,790 
Other comprehensive income (loss), net of tax
246 (809)212 
Comprehensive income3,266 1,912 6,002 
Comprehensive income attributable to noncontrolling interests— — — 
Comprehensive income attributable to BHE shareholders$3,266 $1,912 $6,002 

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,
202320222021
Cash flows from operating activities$5,824 $1,252 $1,819 
Cash flows from investing activities:
Investments in subsidiaries(4,995)(1,085)(1,206)
Purchases of marketable securities(39)(20)(29)
Proceeds from sales of marketable securities35 11 28 
Proceeds from other investments— — 1,290 
Notes receivable from affiliate, net(571)390 200 
Other, net(18)(44)(20)
Net cash flows from investing activities(5,588)(748)263 
Cash flows from financing activities:
Preferred stock redemptions(850)(800)(2,100)
Preferred dividends(38)(50)(132)
Common stock purchases— (870)— 
Proceeds from BHE senior debt— 986 — 
Repayments of BHE senior debt(900)— (450)
Net proceeds from (repayments of) short-term debt1,690 245 — 
Other, net(4)(1)(5)
Net cash flows from financing activities(102)(490)(2,687)
Net change in cash and cash equivalents134 14 (605)
Cash and cash equivalents at beginning of year32 18 623 
Cash and cash equivalents at end of year$166 $32 $18 

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, 2023, 2022 and 2021 were $6.8 billion, $1.9 billion and $2.4 billion, respectively. In January and February 2024, BHE received cash dividends from its subsidiaries totaling $691 million.

Guarantees and commitments - BHE has issued guarantees and letters of credit in respect of subsidiaries, equity method investments and other related parties aggregating $2.6 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,
20232022
ASSETS
Current assets:
Receivables from affiliates$1 $1 
Investments in and advances to subsidiaries10,925 10,959 
Total assets$10,926 $10,960 
LIABILITIES AND MEMBER'S EQUITY
Current liabilities:
Interest accrued and other current liabilities$5 $5 
Payable to affiliate48 36 
Long-term debt240 240 
Total liabilities293 281 
Member's equity:
Paid-in capital1,679 1,679 
Retained earnings8,954 9,000 
Total member's equity10,633 10,679 
Total liabilities and member's equity$10,926 $10,960 

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,
202320222021
Other income (expense):
Interest expense$(17)$(17)$(16)
Loss before income taxes(17)(17)(16)
Income tax expense (benefit)
(5)(5)(5)
Equity in undistributed earnings of subsidiaries992 959 894 
Net income$980 $947 $883 

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,
202320222021
Net cash flows from operating activities$(12)$(12)$(12)
Net cash flows from investing activities:
Dividends from subsidiary
1,025 69 — 
Net cash flows from investing activities1,025 69 — 
Net cash flows from financing activities:
Distributions to member
(1,025)(69)— 
Net change in amounts payable to subsidiary12 12 12 
Net cash flows from financing activities(1,013)(57)12 
Net change in cash and cash equivalents— — — 
Cash and cash equivalents at beginning of year— — — 
Cash and cash equivalents at end of year$— $— $— 

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, 2023, 2022 and 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, 2023, 2022 and 2021.

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 $1,037 million,$81 million and $12 million in 2023, 2022 and 2021, respectively, on behalf of MidAmerican Funding.

Distributions to Parent - In 2023 and 2022, MidAmerican Funding declared and paid, via MHC, cash dividends of $1,025 million and $69 million, respectively. In February 2024, MidAmerican Funding declared and paid, via MHC, a cash dividend of $425 million.

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