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REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS
 3 Months Ended
Mar. 31, 2024
Regulated Operations [Abstract]  
REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS
Regulatory Assets

Noncurrent regulatory assets are comprised of the following:
 Balance at
(in millions)March 31, 2024December 31, 2023
Pension benefits
$339 $348 
Environmental compliance costs1,122 1,218 
Price risk management166 160 
Catastrophic event memorandum account
1,031 1,074 
Wildfire-related accounts
2,455 2,915 
Deferred income taxes3,748 3,543 
Financing costs192 196 
SB 901 securitization
5,247 5,249 
General rate case memorandum accounts
992 1,291 
Other1,041 1,195 
Total noncurrent regulatory assets$16,333 $17,189 
Regulatory Liabilities

Noncurrent regulatory liabilities are comprised of the following:
 Balance at
(in millions)March 31, 2024December 31, 2023
Cost of removal obligations
$8,355 $8,191 
Public purpose programs
1,300 1,238 
Employee benefit plans
1,037 1,032 
Transmission tower wireless licenses
342 384 
SFGO sale
138 185 
SB 901 securitization
6,550 6,628 
Wildfire self-insurance
498 407 
Other1,447 1,379 
Total noncurrent regulatory liabilities
$19,667 $19,444 
Regulatory Balancing Accounts

Current regulatory balancing accounts receivable and payable are comprised of the following:
Balance at
(in millions)March 31, 2024December 31, 2023
Electric distribution
$1,757 $1,092 
Electric transmission
105 99 
Gas distribution and transmission
165 144 
Energy procurement
1,122 1,002 
Public purpose programs
340 137 
Wildfire-related accounts
798 729 
Insurance premium costs
37 227 
Residential uncollectibles balancing accounts
55 507 
Catastrophic event memorandum account
374 413 
General rate case memorandum accounts
1,108 1,097 
Other581 213 
Total regulatory balancing accounts receivable$6,442 $5,660 

Balance at
(in millions)March 31, 2024December 31, 2023
Electric transmission
$178 $200 
Gas distribution and transmission
379 224 
Energy procurement
408 77 
Public purpose programs
391 299 
SFGO sale20 79 
Wildfire-related accounts
163 125 
Nuclear decommissioning adjustment mechanism
176 216 
Other446 449 
Total regulatory balancing accounts payable$2,161 $1,669 

For more information, see Note 3 of the Notes to the Consolidated Financial Statements in Item 8 of the 2023 Form 10-K.