XML 40 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Balance Sheets, Parent - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 422 $ 504
Restricted cash and cash equivalents 106 72
Accounts receivable    
Customer accounts receivable (net of allowance for credit losses of $46 and $55 as of December 31, 2022 and December 31, 2021, respectively) 2,585 1,669
Other accounts receivable (net of allowance for credit losses of $5 as of December 31, 2022 and December 31, 2021) 731 592
Mark-to-market derivative assets 2,368 2,169
Receivables from affiliates 0 160
Inventories, net    
Natural gas, oil, and emission allowances 429 284
Materials and supplies 1,076 1,004
Renewable energy credits 617 520
Other 1,026 1,007
Total current assets 9,360 7,981
Property, plant, and equipment (net of accumulated depreciation and amortization of $16,726 and $15,873 as of December 31, 2022 and 2021, respectively) 19,822 19,612
Deferred debits and other assets    
Nuclear decommissioning trust funds 14,114 15,938
Investments 202 174
Mark-to-market derivative assets 1,261 949
Prepaid pension asset 0 1,683
Deferred income taxes 44 32
Other 2,106 1,717
Total deferred debits and other assets 17,727 20,493
Total assets [1] 46,909 48,086
Current liabilities    
Short-term borrowings 1,159 2,082
Long-term debt due within one year 143 1,220
Accounts payable 2,828 1,757
Accrued expenses 906 737
Payables to affiliates 0 131
Mark-to-market derivative liabilities 1,558 981
Renewable energy credit obligation 901 777
Other 344 311
Total current liabilities 7,839 7,996
Long-term debt 4,466 4,575
Long-term debt to affiliates 0 319
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 3,031 3,703
Asset retirement obligations 12,699 12,819
Pension obligations 605 0
Non-pension postretirement benefit obligations 609 847
Spent nuclear fuel obligation 1,230 1,210
Payables to affiliates 0 3,357
Payables related to Regulatory Agreement Units 2,897 0
Mark-to-market derivative liabilities 983 513
Other 1,178 1,133
Total deferred credits and other liabilities 23,232 23,582
Total liabilities [1] 35,537 36,472
Commitments and contingencies (Note 19)
Member’s equity    
Predecessor Member's Equity [2] 0 11,250
Common stock (No par value, 1,000 shares authorized, 327 shares outstanding as of December 31, 2022) 13,274 0
Retained deficit (496) 0
Accumulated other comprehensive loss, net (1,760) (31)
Total shareholders’ equity 11,018 11,219
Noncontrolling interests 354 395
Total equity 11,372 11,614
Total liabilities and equity 46,909 48,086
Constellation Energy Generation, LLC    
Current assets    
Cash and cash equivalents 403 504
Restricted cash and cash equivalents 98 72
Accounts receivable    
Customer accounts receivable (net of allowance for credit losses of $46 and $55 as of December 31, 2022 and December 31, 2021, respectively) 2,585 1,669
Other accounts receivable (net of allowance for credit losses of $5 as of December 31, 2022 and December 31, 2021) 718 592
Mark-to-market derivative assets 2,368 2,169
Receivables from affiliates 0 160
Inventories, net    
Natural gas, oil, and emission allowances 429 284
Materials and supplies 1,076 1,004
Renewable energy credits 617 520
Other 1,026 1,007
Total current assets 9,320 7,981
Property, plant, and equipment (net of accumulated depreciation and amortization of $16,726 and $15,873 as of December 31, 2022 and 2021, respectively) 19,822 19,612
Deferred debits and other assets    
Nuclear decommissioning trust funds 14,114 15,938
Investments 202 174
Mark-to-market derivative assets 1,261 949
Prepaid pension asset 0 1,683
Deferred income taxes 44 32
Other 2,106 1,717
Total deferred debits and other assets 17,727 20,493
Total assets [3] 46,869 48,086
Current liabilities    
Short-term borrowings 1,159 2,082
Long-term debt due within one year 143 1,220
Accounts payable 2,810 1,757
Accrued expenses 869 737
Payables to affiliates 45 131
Mark-to-market derivative liabilities 1,558 981
Renewable energy credit obligation 901 777
Other 344 311
Total current liabilities 7,829 7,996
Long-term debt 4,466 4,575
Long-term debt to affiliates 0 319
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 3,031 3,703
Asset retirement obligations 12,699 12,819
Pension obligations 605 0
Non-pension postretirement benefit obligations 609 847
Spent nuclear fuel obligation 1,230 1,210
Payables to affiliates 0 3,357
Payables related to Regulatory Agreement Units 2,897 0
Mark-to-market derivative liabilities 983 513
Other 1,106 1,133
Total deferred credits and other liabilities 23,160 23,582
Total liabilities [3] 35,455 36,472
Commitments and contingencies (Note 19)
Member’s equity    
Predecessor Member's Equity 12,408 10,482
Retained deficit 412 768
Accumulated other comprehensive loss, net (1,760) (31)
Total liabilities and equity 46,869 48,086
Variable Interest Entity, Primary Beneficiary    
Current assets    
Cash and cash equivalents 51 35
Restricted cash and cash equivalents 46 48
Accounts receivable    
Customer accounts receivable (net of allowance for credit losses of $46 and $55 as of December 31, 2022 and December 31, 2021, respectively) 20 24
Other accounts receivable (net of allowance for credit losses of $5 as of December 31, 2022 and December 31, 2021) 9 6
Inventories, net    
Materials and supplies 12 14
Other 549 405
Total current assets 687 532
Property, plant, and equipment (net of accumulated depreciation and amortization of $16,726 and $15,873 as of December 31, 2022 and 2021, respectively) 1,965 2,027
Deferred debits and other assets    
Other 190 215
Total assets 2,842 2,774
Current liabilities    
Long-term debt due within one year 60 70
Accounts payable 17 10
Accrued expenses 23 21
Other 2 1
Total current liabilities 102 102
Long-term debt 764 822
Deferred credits and other liabilities    
Other 3 3
Total deferred credits and other liabilities 940 976
Total liabilities 1,042 1,078
Variable Interest Entity, Primary Beneficiary | Nonrecourse    
Deferred credits and other liabilities    
Total liabilities 1,041 1,077
Variable Interest Entity, Primary Beneficiary | Nonrecourse | Constellation Energy Generation, LLC    
Deferred credits and other liabilities    
Total liabilities 1,041 1,077
Variable Interest Entity, Primary Beneficiary | Asset Pledged as Collateral    
Deferred debits and other assets    
Total assets 2,641 2,549
Variable Interest Entity, Primary Beneficiary | Asset Pledged as Collateral | Constellation Energy Generation, LLC    
Deferred debits and other assets    
Total assets $ 2,641 $ 2,549
[1] Our consolidated assets include $2,641 million and $2,549 million at December 31, 2022 and 2021, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $1,041 million and $1,077 million at December 31, 2022 and 2021, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 22–Variable Interest Entities for additional information.
[2] Represents Constellation’s predecessor member's equity prior to the separation transaction. Upon completion of the separation, the predecessor member's equity was transferred to CEG Parent’s Common stock. See Note 1 — Basis of Presentation for additional information on the separation.
[3] Our consolidated assets include $2,641 million and $2,549 million as of December 31, 2022 and 2021, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $1,041 million and $1,077 million as of December 31, 2022 and 2021, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 22–Variable Interest Entities for additional information.