Constellation Energy Corp
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (In millions) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $562 | $368 |
| Restricted cash and cash equivalents | 83 | 86 |
| Accounts receivable | ||
| Customer accounts receivable (net of allowance for credit losses of $57 and $56 as of March 31, 2024 and December 31, 2023, respectively) | 1,855 | 1,934 |
| Other accounts receivable (net of allowance for credit losses of $5 as of March 31, 2024 and December 31, 2023) | 472 | 917 |
| Mark-to-market derivative assets | 1,232 | 1,179 |
| Inventories, net | ||
| Natural gas, oil, and emission allowances | 179 | 284 |
| Materials and supplies | 1,206 | 1,216 |
| Renewable energy credits | 805 | 660 |
| Other | 2,066 | 1,655 |
| Total current assets | 8,460 | 8,299 |
| Property, plant, and equipment (net of accumulated depreciation and amortization of $17,476 and $17,423 as of March 31, 2024 and December 31, 2023, respectively) | 22,446 | 22,116 |
| Deferred debits and other assets | ||
| Nuclear decommissioning trust funds | 16,916 | 16,398 |
| Investments | 623 | 563 |
| Goodwill | 425 | 425 |
| Mark-to-market derivative assets | 774 | 995 |
| Deferred income taxes | 38 | 52 |
| Other | 2,332 | 1,910 |
| Total deferred debits and other assets | 21,108 | 20,343 |
| Total assets(a) | $52,014 | $50,758 |
| (In millions) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Short-term borrowings | $1,509 | $1,644 |
| Long-term debt due within one year | 122 | 121 |
| Accounts payable and accrued expenses | 2,417 | 2,612 |
| Mark-to-market derivative liabilities | 667 | 632 |
| Renewable energy credit obligation | 895 | 972 |
| Other | 312 | 338 |
| Total current liabilities | 5,922 | 6,319 |
| Long-term debt | 8,352 | 7,496 |
| Deferred credits and other liabilities | ||
| Deferred income taxes and unamortized ITCs | 3,208 | 3,209 |
| Asset retirement obligations | 14,278 | 14,118 |
| Pension obligations | 888 | 1,070 |
| Non-pension postretirement benefit obligations | 746 | 732 |
| Spent nuclear fuel obligation | 1,313 | 1,296 |
| Payables related to Regulatory Agreement Units | 3,874 | 3,688 |
| Mark-to-market derivative liabilities | 480 | 419 |
| Other | 1,393 | 1,125 |
| Total deferred credits and other liabilities | 26,180 | 25,657 |
| Total liabilities(a) | 40,454 | 39,472 |
| Commitments and contingencies (Note 13) | ||
| Shareholders' equity | ||
| Common stock (No par value, 1,000 shares authorized, 315 shares and 317 shares outstanding as of March 31, 2024 and December 31, 2023, respectively) | 11,847 | 12,355 |
| Retained earnings (deficit) | 1,532 | 761 |
| Accumulated other comprehensive income (loss), net | (2,180) | (2,191) |
| Total shareholders' equity | 11,199 | 10,925 |
| Noncontrolling interests | 361 | 361 |
| Total equity | 11,560 | 11,286 |
| Total liabilities and shareholders' equity | $52,014 | $50,758 |
(a)Our consolidated assets include $3,514 million and $3,355 million at March 31, 2024 and December 31, 2023, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $975 million and $990 million at March 31, 2024 and December 31, 2023, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 15 — Variable Interest Entities for additional information.
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