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Schedule I Condensed Financial Statements (Parent Company Only)
 12 Months Ended
Dec. 31, 2021
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,
20212020
ASSETS
Current assets:
Cash and cash equivalents$18 $623 
Accounts receivable - affiliate117 96 
Notes receivable - affiliate189 177 
Income tax receivable23 19 
Other current assets13 1,301 
Total current assets360 2,216 
Investments in subsidiaries58,190 48,654 
Other investments237 6,103 
Goodwill1,221 1,221 
Other assets1,101 488 
Total assets$61,109 $58,682 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and other current liabilities$397 $341 
Notes payable - affiliate353 200 
Current portion of BHE senior debt— 450 
Total current liabilities750 991 
BHE senior debt13,003 12,997 
BHE junior subordinated debentures100 100 
Notes payable - affiliate2 116 
Other long-term liabilities560 1,468 
Total liabilities14,415 15,672 
Equity:
BHE shareholders' equity:
Preferred stock - 100 shares authorized, $0.01 par value, 2 and 4 shares issued and outstanding
1,650 3,750 
Common stock - 115 shares authorized, no par value, 76 shares issued and outstanding
— — 
Additional paid-in capital6,374 6,377 
Long-term income tax receivable(744)(658)
Retained earnings40,754 35,093 
Accumulated other comprehensive loss, net(1,340)(1,552)
Total BHE shareholders' equity46,694 43,010 
Noncontrolling interest— — 
Total equity46,694 43,010 
Total liabilities and equity$61,109 $58,682 

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,
202120202019
Operating expenses:
General and administration$83 $57 $49 
Depreciation and amortization6 4 5 
Total operating expenses89 61 54 
Operating loss(89)(61)(54)
Other income (expense):
Interest expense(580)(527)(452)
Other, net1,846 4,789 (271)
Total other income (expense)1,266 4,262 (723)
Income (loss) before income tax expense (benefit) and equity income1,177 4,201 (777)
Income tax expense (benefit)194 1,089 (312)
Equity income4,807 3,832 3,419 
Net income5,790 6,944 2,954 
Net income attributable to noncontrolling interest— 1 3 
Net income attributable to BHE shareholders5,790 6,943 2,951 
Preferred dividends121 26 — 
Earnings on common shares$5,669 $6,917 $2,951 

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,
202120202019
Net income$5,790 $6,944 $2,954 
Other comprehensive income, net of tax212 154 239 
Comprehensive income6,002 7,098 3,193 
Comprehensive income attributable to noncontrolling interests— 1 3 
Comprehensive income attributable to BHE shareholders$6,002 $7,097 $3,190 

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,
202120202019
Cash flows from operating activities$1,819 $1,639 $1,780 
Cash flows from investing activities:
Investments in subsidiaries(1,206)(6,422)(1,972)
Purchases of marketable securities(29)(55)(42)
Proceeds from sales of marketable securities28 22 41 
Purchases of other investments— (1,290)— 
Proceeds from other investments1,290 — 1 
Notes receivable from affiliate, net200 (121)(112)
Other, net(20)(20)(5)
Net cash flows from investing activities263 (7,886)(2,089)
Cash flows from financing activities:
Proceeds from issuance of preferred stock— 3,750 — 
Preferred stock redemptions(2,100)— — 
Preferred dividends(132)(7)— 
Common stock purchases— (126)(293)
Proceeds from BHE senior debt— 5,212 — 
Repayments of BHE senior debt(450)(350)— 
Net (repayments of) proceeds from short-term debt— (1,590)607 
Other, net(5)(32)(1)
Net cash flows from financing activities(2,687)6,857 313 
Net change in cash and cash equivalents(605)610 4 
Cash and cash equivalents at beginning of year623 13 9 
Cash and cash equivalents at end of year$18 $623 $13 

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.

Other investments - BHE's investment in BYD Company Limited ("BYD") common stock is accounted for as a marketable security with changes in fair value recognized in net income. As of December 31, 2021 and 2020, the fair value of BHE's investment in BYD common stock was $— million and $5,897 million, respectively.

Dividends and distributions from subsidiaries - Cash dividends paid to BHE by its subsidiaries for the years ended December 31, 2021, 2020 and 2019 were $2.4 billion, $2.0 billion and $2.0 billion, respectively. In January and February 2022, BHE received cash dividends from its subsidiaries totaling $102 million.

Guarantees and commitments - BHE has issued guarantees and letters of credit in respect of subsidiaries, equity method investments and other related parties aggregating $1.4 billion and commitments, subject to satisfaction of certain specified conditions, to provide equity contributions in support of renewable tax equity investments totaling $356 million.

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,
20212020
ASSETS
Current assets:
Receivables from affiliates$1 $1 
Investments in and advances to subsidiaries10,070 9,176 
Total assets$10,071 $9,177 
LIABILITIES AND MEMBER'S EQUITY
Current liabilities:
Interest accrued and other current liabilities$5 $5 
Payable to affiliate25 13 
Long-term debt240 240 
Total liabilities270 258 
Member's equity:
Paid-in capital1,679 1,679 
Retained earnings8,122 7,240 
Total member's equity9,801 8,919 
Total liabilities and member's equity$10,071 $9,177 

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,
202120202019
Other income and (expense):
Interest expense$(16)$(16)$(16)
Loss before income taxes(16)(16)(16)
Income tax benefit(5)(5)(5)
Equity in undistributed earnings of subsidiaries894 829 792 
Net income$883 $818 $781 

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,
202120202019
Net cash flows from operating activities$(12)$(12)$(12)
Net cash flows from investing activities— — — 
Net cash flows from financing activities:
Net change in amounts payable to subsidiary12 12 12 
Net cash flows from financing activities12 12 12 
Net change in cash and cash equivalents— — — 
Cash and cash equivalents at beginning of year— — — 
Cash and cash equivalents at end of year$— $— $— 

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 Equity for the three years ended December 31, 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, 2021, 2020 and 2019.

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 primarily interest costs on, and repayments of, MidAmerican Funding's long-term debt and income taxes. MHC paid $12 million in 2021, 2020 and 2019 on behalf of MidAmerican Funding. In 2019, MHC transferred to MidAmerican Funding $440 million of its receivable from MidAmerican Funding in the form of a dividend.

Distribution to Parent - In 2019, MidAmerican Funding recorded a noncash dividend of $8 million for the transfer to BHE of corporate aircraft owned by MHC.

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