Constellation Energy Corp
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
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22. Supplemental Financial Information
- Supplemental Financial Information
Supplemental Statement of Operations and Comprehensive Income Information
The following tables provide additional information about material items recorded in the Consolidated Statements of Operations and Comprehensive Income.
| Taxes other than income taxes | |||
|---|---|---|---|
| For the Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Gross receipts(a) | $134 | $139 | $130 |
| Property | 285 | 253 | 274 |
| Payroll | 152 | 142 | 130 |
(a)Represent gross receipts taxes related to our retail operations. The offsetting collection of gross receipts taxes from customers is recorded in Operating revenues in the Consolidated Statements of Operations and Comprehensive Income.
| Other, net | |||
|---|---|---|---|
| For the Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Decommissioning-related activities: | |||
| Net realized income on NDT funds(a) | |||
| Regulatory Agreement Units | $553 | $657 | $333 |
| Non-Regulatory Agreement Units | 266 | 335 | 97 |
| Net unrealized gains (losses) on NDT funds | |||
| Regulatory Agreement Units | 184 | 397 | (1,354) |
| Non-Regulatory Agreement Units | 156 | 259 | (798) |
| Regulatory offset to NDT fund-related activities(b) | (592) | (845) | 820 |
| Total Decommissioning-related activities | 567 | 803 | (902) |
| Non-service net periodic benefit credit (cost) | (8) | 54 | 110 |
| Net realized and unrealized gains (losses) from equity investments | 11 | 307 | (13) |
| Other | 100 | 104 | 19 |
| Total Other, net | $670 | $1,268 | $(786) |
(a)Realized income includes interest, dividends and realized gains and losses on sales of NDT fund investments.
(b)Includes the elimination of decommissioning-related activities and the elimination of income taxes related to all NDT fund activity for the Regulatory Agreement Units.
Supplemental Cash Flow Information
The following tables provide additional information about material items recorded in the Consolidated Statements of Cash Flows.
| Depreciation, amortization and accretion | |||
|---|---|---|---|
| For the Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Property, plant, and equipment(a) | $1,101 | $1,073 | $1,065 |
| Amortization of intangible assets, net(a) | 22 | 23 | 26 |
| Amortization of energy contract assets and liabilities(b) | 38 | 35 | 35 |
| Nuclear fuel(c) | 884 | 787 | 758 |
| ARO accretion(d) | 655 | 596 | 543 |
| Total depreciation, amortization, and accretion | $2,700 | $2,514 | $2,427 |
(a)Included in Depreciation and amortization expense in the Consolidated Statements of Operations and Comprehensive Income.
(b)Included in Operating revenues or Purchased power and fuel expense in the Consolidated Statements of Operations and Comprehensive Income.
(c)Included in Purchased power and fuel expense in the Consolidated Statements of Operations and Comprehensive Income.
(d)Included in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income.
| Cash paid during the year | |||
|---|---|---|---|
| For the Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Interest (net of amount capitalized) | $375 | $264 | $230 |
| Income taxes (net of refunds) | 436 | 466 | 287 |
| Other non-cash operating activities | ||||||
|---|---|---|---|---|---|---|
| CEG Parent · Constellation | ||||||
| For the Years Ended December 31, | For the Years Ended December 31, | |||||
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | |
| Pension and non-pension postretirement benefit costs | $107 | $47 | $17 | $107 | $47 | $17 |
| Other decommissioning-related activity(a) | (485) | (534) | (263) | (485) | (534) | (263) |
| Energy-related options(b) | 32 | 183 | 293 | 32 | 183 | 293 |
| Other(c) | 174 | 322 | 201 | 128 | 260 | 152 |
| Total other non-cash operating activities | $(172) | $18 | $248 | $(218) | $(44) | $199 |
(a)Includes the elimination of decommissioning-related activities for the Regulatory Agreement Units, including the elimination of operating revenues, ARO accretion, ARC amortization, investment income, and income taxes related to all NDT fund activity for these units.
(b)Includes option premiums reclassified to realized at the settlement of the underlying contracts and recorded to results of operations.
(c)Includes items that are not individually material.
The following table provides a reconciliation of cash, restricted cash, and cash equivalents reported in the Consolidated Balance Sheets that sum to the total of the same amounts in the Consolidated Statements of Cash Flows.
| December 31, 2024 | CEG Parent | Constellation |
|---|---|---|
| Cash and cash equivalents | $3,022 | $3,018 |
| Restricted cash and cash equivalents | 107 | 97 |
| Total cash, restricted cash, and cash equivalents | $3,129 | $3,115 |
| December 31, 2023 | CEG Parent | Constellation |
|---|---|---|
| Cash and cash equivalents | $368 | $366 |
| Restricted cash and cash equivalents | 86 | 74 |
| Total cash, restricted cash, and cash equivalents | $454 | $440 |
| December 31, 2022 | CEG Parent | Constellation |
|---|---|---|
| Cash and cash equivalents | $422 | $403 |
| Restricted cash and cash equivalents | 106 | 98 |
| Total cash, restricted cash, and cash equivalents | $528 | $501 |
For additional information on restricted cash, see Note 1 — Basis of Presentation.
Supplemental Balance Sheet Information
The following tables provide additional information about material items recorded in the Consolidated Balance Sheets.
| Investments | ||
|---|---|---|
| December 31, 2024 | December 31, 2023 | |
| Equity method investments | $2 | $7 |
| Other investments: | ||
| Employee benefit trusts and investments(a) | 100 | 82 |
| Equity investments with readily determinable fair values(b) | 387 | 369 |
| Equity investments without readily determinable fair values | 150 | 103 |
| Other available for sale debt security investments | 1 | 2 |
| Total investments | $640 | $563 |
(a)Debt and equity security investments are recorded at fair market value.
(b)Does not include the equity investments with readily determinable fair values that are recorded in Other current assets in the Consolidated Balance Sheets. See Note 17 — Fair Value of Financial Assets and Liabilities for additional information on Investments in equities.
| Accounts payable and accrued expenses | ||
|---|---|---|
| December 31, 2024 | CEG Parent | Constellation |
| Accounts payable | $2,369 | $2,348 |
| Compensation-related accruals(a) | 907 | 689 |
| Taxes accrued(b) | 232 | 223 |
| Accounts payable and accrued expenses | ||
|---|---|---|
| December 31, 2023 | CEG Parent | Constellation |
| Accounts payable | $1,302 | $1,289 |
| Compensation-related accruals(a) | 680 | 576 |
| Taxes accrued | 399 | 390 |
(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.
(b)Includes $150 million related to nuclear PTC that was used to offset the current tax liability. See Note 6 — Government Assistance for additional information on the nuclear PTC.
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