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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 237 $ 422
Restricted cash and cash equivalents 99 106
Accounts receivable    
Customer accounts receivable (net of allowance for credit losses of $47 and $46 as of March 31, 2023 and December 31, 2022, respectively) 2,147 2,585
Other accounts receivable (net of allowance for credit losses of $5 as of March 31, 2023 and December 31, 2022) 542 731
Mark-to-market derivative assets 1,952 2,368
Inventories, net    
Natural gas, oil, and emission allowances 259 429
Materials and supplies 1,085 1,076
Renewable energy credits 720 617
Other 1,067 1,026
Total current assets 8,108 9,360
Property, plant, and equipment (net of accumulated depreciation and amortization of $16,861 and $16,726 as of March 31, 2023 and December 31, 2022, respectively) 20,074 19,822
Deferred debits and other assets    
Nuclear decommissioning trust funds 14,606 14,114
Investments 223 202
Mark-to-market derivative assets 1,125 1,261
Deferred income taxes 45 44
Other 1,977 2,106
Total deferred debits and other assets 17,976 17,727
Total assets [1] 46,158 46,909
Current liabilities    
Short-term borrowings 705 1,159
Long-term debt due within one year 161 143
Accounts payable 1,558 2,828
Accrued expenses 743 906
Mark-to-market derivative liabilities 1,573 1,558
Renewable energy credit obligation 865 901
Other 342 344
Total current liabilities 5,947 7,839
Long-term debt 5,763 4,466
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 2,982 3,031
Asset retirement obligations 12,831 12,699
Pension obligations 645 605
Non-pension postretirement benefit obligations 633 609
Spent nuclear fuel obligation 1,244 1,230
Payables related to Regulatory Agreement Units 3,069 2,897
Mark-to-market derivative liabilities 700 983
Other 1,258 1,178
Total deferred credits and other liabilities 23,362 23,232
Total liabilities [1] 35,072 35,537
Commitments and contingencies
Member’s equity    
Undistributed earnings (493) (496)
Accumulated other comprehensive loss, net (1,808) (1,760)
Total liabilities and equity 46,158 46,909
Constellation Energy Generation, LLC    
Current assets    
Cash and cash equivalents 236 403
Restricted cash and cash equivalents 91 98
Accounts receivable    
Customer accounts receivable (net of allowance for credit losses of $47 and $46 as of March 31, 2023 and December 31, 2022, respectively) 2,147 2,585
Other accounts receivable (net of allowance for credit losses of $5 as of March 31, 2023 and December 31, 2022) 529 718
Mark-to-market derivative assets 1,952 2,368
Receivables from affiliates 39 0
Inventories, net    
Natural gas, oil, and emission allowances 259 429
Materials and supplies 1,085 1,076
Renewable energy credits 720 617
Other 1,067 1,026
Total current assets 8,125 9,320
Property, plant, and equipment (net of accumulated depreciation and amortization of $16,861 and $16,726 as of March 31, 2023 and December 31, 2022, respectively) 20,074 19,822
Deferred debits and other assets    
Nuclear decommissioning trust funds 14,606 14,114
Investments 223 202
Mark-to-market derivative assets 1,125 1,261
Deferred income taxes 45 44
Other 1,977 2,106
Total deferred debits and other assets 17,976 17,727
Total assets [2] 46,175 46,869
Current liabilities    
Short-term borrowings 705 1,159
Long-term debt due within one year 161 143
Accounts payable 1,543 2,810
Accrued expenses 687 869
Payables to affiliates 6 45
Mark-to-market derivative liabilities 1,573 1,558
Renewable energy credit obligation 865 901
Other 325 344
Total current liabilities 5,865 7,829
Long-term debt 5,763 4,466
Deferred credits and other liabilities    
Deferred income taxes and unamortized ITCs 2,982 3,031
Asset retirement obligations 12,831 12,699
Pension obligations 645 605
Non-pension postretirement benefit obligations 633 609
Spent nuclear fuel obligation 1,244 1,230
Payables related to Regulatory Agreement Units 3,069 2,897
Mark-to-market derivative liabilities 700 983
Other 1,226 1,106
Total deferred credits and other liabilities 23,330 23,160
Total liabilities [2] 34,958 35,455
Commitments and contingencies
Member’s equity    
Membership interest 12,256 12,408
Undistributed earnings 411 412
Accumulated other comprehensive loss, net (1,808) (1,760)
Total member’s equity 10,859 11,060
Noncontrolling interests 358 354
Total equity 11,217 11,414
Total liabilities and equity $ 46,175 $ 46,869
[1] Our consolidated assets include $2,506 million and $2,641 million at March 31, 2023 and December 31, 2022, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $1,033 million and $1,041 million at March 31, 2023 and December 31, 2022, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 14 — Variable Interest Entities for additional information.
[2] Our consolidated assets include $2,506 million and $2,641 million as of March 31, 2023 and December 31, 2022, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $1,033 million and $1,041 million as of March 31, 2023 and December 31, 2022, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 14 — Variable Interest Entities for additional information.