Constellation Energy Corp
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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, 2025 · Filed May 6, 2025
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Consolidated Balance Sheets
| (In millions) | March 31, 2025 | December 31, 2024 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $1,836 | $3,018 |
| Restricted cash and cash equivalents | 86 | 97 |
| Accounts receivable | ||
| Customer accounts receivable (net of allowance for credit losses of $194 and $190 as of March 31, 2025 and December 31, 2024, respectively) | 3,193 | 3,116 |
| Other accounts receivable (net of allowance for credit losses of $6 as of March 31, 2025 and December 31, 2024) | 429 | 587 |
| Mark-to-market derivative assets | 858 | 843 |
| Inventories, net | ||
| Natural gas, oil, and emission allowances | 148 | 243 |
| Materials and supplies | 1,354 | 1,357 |
| Renewable energy credits | 914 | 797 |
| Other | 778 | 689 |
| Total current assets | 9,596 | 10,747 |
| Property, plant, and equipment (net of accumulated depreciation and amortization of $18,377 and $18,088 as of March 31, 2025 and December 31, 2024, respectively) | 21,566 | 21,235 |
| Deferred debits and other assets | ||
| Nuclear decommissioning trust funds | 17,472 | 17,305 |
| Investments | 386 | 640 |
| Goodwill | 420 | 420 |
| Mark-to-market derivative assets | 485 | 372 |
| Other | 2,288 | 2,174 |
| Total deferred debits and other assets | 21,051 | 20,911 |
| Total assets(a) | $52,213 | $52,893 |
| (In millions) | March 31, 2025 | December 31, 2024 |
|---|---|---|
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Long-term debt due within one year | $1,037 | $1,028 |
| Accounts payable and accrued expenses | 3,443 | 3,696 |
| Payables to affiliates | 90 | 349 |
| Mark-to-market derivative liabilities | 550 | 467 |
| Renewable energy credit obligation | 1,001 | 1,076 |
| Other | 340 | 328 |
| Total current liabilities | 6,461 | 6,944 |
| Long-term debt | 7,321 | 7,384 |
| Deferred credits and other liabilities | ||
| Deferred income taxes and unamortized ITCs | 3,226 | 3,331 |
| Asset retirement obligations | 12,524 | 12,449 |
| Pension and non-pension postretirement benefit obligations | 1,755 | 1,875 |
| Spent nuclear fuel obligation | 1,381 | 1,366 |
| Payables related to Regulatory Agreement Units | 4,593 | 4,518 |
| Mark-to-market derivative liabilities | 358 | 399 |
| Other | 1,167 | 1,044 |
| Total deferred credits and other liabilities | 25,004 | 24,982 |
| Total liabilities(a) | 38,786 | 39,310 |
| Commitments and contingencies (Note 13) | ||
| Equity | ||
| Member’s equity | ||
| Membership interest | 10,388 | 10,538 |
| Undistributed earnings (deficit) | 4,970 | 4,974 |
| Accumulated other comprehensive income (loss), net | (2,309) | (2,302) |
| Total member’s equity | 13,049 | 13,210 |
| Noncontrolling interests | 378 | 373 |
| Total equity | 13,427 | 13,583 |
| Total liabilities and equity | $52,213 | $52,893 |
(a)Our consolidated assets include $4,566 million and $4,318 million as of March 31, 2025 and December 31, 2024, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $929 million and $968 million as of March 31, 2025 and December 31, 2024, 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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