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Consolidated Statements of Operations (Unaudited) - PAC - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating revenue $ 6,111 $ 6,346
Operating expenses:    
Cost of sales 1,670 1,955
Wildfire losses, net of recoveries 0 359
Operating income 895 667
Other income (expense):    
Interest expense (691) (586)
Allowance for borrowed funds 46 24
Allowance for equity funds 83 49
Interest and dividend income 116 86
Other, net 31 40
Total other income (expense) (538) 312
Income before income tax expense (benefit) and equity income (loss) 357 979
Income tax expense (benefit) (371) (162)
Net income attributable to parent 653 989
PAC    
Operating revenue 1,548 1,484
Operating expenses:    
Cost of sales 632 614
Operations and maintenance 407 346
Wildfire losses, net of recoveries 0 359
Depreciation and amortization 292 279
Property and other taxes 52 53
Total operating expenses 1,383 1,651
Operating income 165 (167)
Other income (expense):    
Interest expense (192) (124)
Allowance for borrowed funds 28 13
Allowance for equity funds 49 27
Interest and dividend income 58 19
Other, net 4 2
Total other income (expense) (53) (63)
Income before income tax expense (benefit) and equity income (loss) 112 (230)
Income tax expense (benefit) (9) (110)
Net income attributable to parent $ 121 $ (120)