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Consolidated Statements of Operations (Unaudited) - PAC - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating revenue $ 6,030 $ 6,081
Operating expenses:    
Cost of sales 1,460 1,569
Operating income 1,236 1,333
Other income (expense):    
Interest expense (532) (530)
Allowance for borrowed funds 17 14
Allowance for equity funds 38 26
Interest and dividend income 23 21
Other, net 5 8
Total other income (expense) (1,706) (1,579)
Income (loss) before income tax expense (benefit) and equity income (loss) (470) (246)
Income tax benefit (507) (535)
Net income (loss) attributable to parent (129) 4
PAC    
Operating revenue 1,297 1,242
Operating expenses:    
Cost of sales 465 424
Operations and maintenance 277 259
Depreciation and amortization 280 264
Property and other taxes 59 61
Total operating expenses 1,081 1,008
Operating income 216 234
Other income (expense):    
Interest expense (106) (107)
Allowance for borrowed funds 6 6
Allowance for equity funds 13 13
Interest and dividend income 7 6
Other, net (4) 6
Total other income (expense) (84) (76)
Income (loss) before income tax expense (benefit) and equity income (loss) 132 158
Income tax benefit 2 (11)
Net income (loss) attributable to parent $ 130 $ 169