CONSTELLATION ENERGY GENERATION LLC
For the period ended Mar 31, 2026. Filed May 11, 2026.
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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, 2026 · Filed May 11, 2026
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18. Supplemental Financial Information
- Supplemental Financial Information
Supplemental Consolidated Statements of Operations and Comprehensive Income Information
The following tables provide additional information about items recorded in the Consolidated Statements of Operations and Comprehensive Income.
| Three Months Ended March 31, | ||
|---|---|---|
| Operating revenues | 2026 | 2025 |
| Variable lease income | $97 | $52 |
| Three Months Ended March 31, | ||
|---|---|---|
| Taxes other than income taxes | 2026 | 2025 |
| Property | $102 | $72 |
| Payroll | 58 | 44 |
| Gross receipts(a) | 64 | 38 |
| Other | 5 | 6 |
| Total | $229 | $160 |
(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.
| Three Months Ended March 31, | ||
|---|---|---|
| Other, net | 2026 | 2025 |
| Decommissioning-related activities: | ||
| Net realized income on NDT funds(a) | ||
| Regulatory Agreement Units | $271 | $243 |
| Non-Regulatory Agreement Units | 155 | 94 |
| Net unrealized gains (losses) on NDT funds | ||
| Regulatory Agreement Units | (206) | (117) |
| Non-Regulatory Agreement Units | (109) | (23) |
| Regulatory offset to NDT fund-related activities(b) | (52) | (103) |
| Total Decommissioning-related activities | 59 | 94 |
| Net unrealized gains (losses) from equity investments(c) | (27) | (268) |
| Other | 14 | 20 |
| Total | $46 | $(154) |
(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.
(c)Includes unrealized gains (losses) resulting from an equity investment in a publicly traded company. We record the fair value of this investment in Other deferred debits and other assets in the Consolidated Balance Sheets based on quoted market price of the stock.
Supplemental Cash Flow Information
The following tables provide additional information about items recorded within our Consolidated Statements of Cash Flows.
| Three Months Ended March 31, | |||
|---|---|---|---|
| Depreciation, amortization, and accretion | Income statement location | 2026 | 2025 |
| PP&E | Depreciation and amortization | $436 | $243 |
| Nuclear fuel | Purchased power and fuel | 244 | 232 |
| Amortization of acquired derivative contracts(a) | Operating revenues or purchased power and fuel | 228 | — |
| ARO accretion | Operating and maintenance | 174 | 158 |
| Amortization of UECs | Operating revenues or purchased power and fuel | 128 | 2 |
| Amortization of intangible assets, net(b) | Depreciation and amortization | 7 | 5 |
| Other amortization | Operating revenues, purchased power and fuel, or interest expense, net | (15) | — |
| Total | $1,202 | $640 | |
(a)Related to the amortization of acquired derivative contracts from the acquisition of Calpine.
(b)Primarily related to the amortization of customer relationships and trade names.
| CEG Parent · Constellation | ||||
|---|---|---|---|---|
| Three Months Ended March 31, | Three Months Ended March 31, | |||
| Other non-cash operating activities | 2026 | 2025 | 2026 | 2025 |
| Other decommissioning-related activity(a) | $(349) | $(74) | $(349) | $(74) |
| Pension and non-pension postretirement benefit costs | 50 | 38 | 50 | 38 |
| Other | 100 | 83 | 70 | 60 |
| Total | $(199) | $47 | $(229) | $24 |
(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.
The following table provides a reconciliation of cash, restricted cash, and cash equivalents reported within our Consolidated Balance Sheets that sum to the total of the same amounts in the Consolidated Statements of Cash Flows.
| March 31, 2026 | CEG Parent | Constellation |
|---|---|---|
| Cash and cash equivalents | $800 | $785 |
| Restricted cash and cash equivalents | 371 | 351 |
| Total cash, restricted cash, and cash equivalents | $1,171 | $1,136 |
| Cash and cash equivalents | $3,641 | $3,641 |
| Restricted cash and cash equivalents | 107 | 79 |
| Total cash, restricted cash, and cash equivalents | $3,748 | $3,720 |
| Cash and cash equivalents | $1,846 | $1,836 |
| Restricted cash and cash equivalents | 96 | 86 |
| Total cash, restricted cash, and cash equivalents | $1,942 | $1,922 |
For additional information on restricted cash, see Note 1 — Basis of Presentation of our 2025 Form 10-K. Calpine's restricted cash balances, included in our balances as of March 31, 2026, align with our current policy or represent other agreements that require us to establish and maintain segregated cash accounts, the use of which is restricted, making these cash funds unavailable for general use.
Supplemental Balance Sheet Information
The following tables provides additional information about material items recorded in the Consolidated Balance Sheets.
| Inventories, net | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Materials and supplies | $2,200 | $1,485 |
| Natural gas, oil, and emission allowances | 382 | 251 |
| Total | $2,582 | $1,736 |
| CEG Parent | Constellation | |||
|---|---|---|---|---|
| Accounts payable and accrued expenses | March 31, 2026 | December 31, 2025 | March 31, 2026 | December 31, 2025 |
| Accounts payable | $2,708 | $2,813 | $2,697 | $2,801 |
| Compensation-related accruals(a) | 557 | 920 | 445 | 672 |
| Taxes accrued(b) | 484 | 246 | 483 | 245 |
| Other accrued expenses | 700 | 315 | 699 | 315 |
| Total | $4,449 | $4,294 | $4,324 | $4,033 |
(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.
(b)Includes $375 million as of December 31, 2025, related to nuclear PTC that was used to offset the current tax liability. No credits were utilized in the first quarter of 2026. See Note 6 — Government Assistance for additional information on the nuclear PTC.
The following table provides additional information about investments included in Other deferred debits and other assets in the Consolidated Balance Sheets.
| Investments | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Equity method investments | $26 | $3 |
| Other investments: | ||
| Employee benefit trusts and investments(a) | 110 | 112 |
| Equity investments with readily determinable fair values(b) | 64 | 82 |
| Equity investments without readily determinable fair values | 113 | 109 |
| Other available for sale debt security investments | 1 | 1 |
| Total | $314 | $307 |
(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 14 — Fair Value of Financial Assets and Liabilities for additional information on investments in equities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.