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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Consolidated Balance Sheets
| (In millions) | March 31, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $785 | $3,641 |
| Restricted cash and cash equivalents | 351 | 79 |
| Accounts receivable, net | 4,392 | 4,251 |
| Derivative assets | 1,795 | 945 |
| Inventories, net | 2,582 | 1,736 |
| Renewable energy credits | 1,038 | 789 |
| Assets held for sale | 5,735 | 126 |
| Other | 1,282 | 508 |
| Total current assets | 17,960 | 12,075 |
| Property, plant, and equipment (net of accumulated depreciation and amortization of $19,524 and $19,072, respectively) | 40,769 | 22,474 |
| Deferred debits and other assets | ||
| Nuclear decommissioning trust funds | 19,366 | 19,336 |
| Goodwill | 11,527 | 420 |
| Derivative assets | 2,113 | 450 |
| Other | 5,120 | 2,443 |
| Total deferred debits and other assets | 38,126 | 22,649 |
| Total assets(a) | $96,855 | $57,198 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Short-term borrowings | $5,102 | $1,650 |
| Long-term debt due within one year | 370 | 92 |
| Accounts payable and accrued expenses | 4,324 | 4,033 |
| Payables to affiliates | 102 | 365 |
| Derivative liabilities | 810 | 467 |
| Renewable energy credit obligation | 1,193 | 1,075 |
| Other | 1,289 | 358 |
| Total current liabilities | 13,190 | 8,040 |
| Long-term debt | 16,994 | 7,250 |
| Deferred credits and other liabilities | ||
| Deferred income taxes and unamortized ITCs | 8,199 | 3,544 |
| Asset retirement obligations | 12,433 | 13,193 |
| Pension and non-pension postretirement benefit obligations | 1,835 | 1,977 |
| Payables related to Regulatory Agreement Units | 5,389 | 5,334 |
| Derivative liabilities | 518 | 414 |
| Other | 4,465 | 2,583 |
| Total deferred credits and other liabilities | 32,839 | 27,045 |
| Total liabilities(a) | 63,023 | 42,335 |
| Commitments and contingencies (Note 15) | ||
| Equity | ||
| Member’s equity | ||
| Membership interest | 27,677 | 10,144 |
| Undistributed earnings (deficit) | 8,243 | 6,808 |
| Accumulated other comprehensive income (loss), net | (2,425) | (2,425) |
| Total member’s equity | 33,495 | 14,527 |
| Noncontrolling interests | 337 | 336 |
| Total equity | 33,832 | 14,863 |
| Total liabilities and equity | $96,855 | $57,198 |
(a)Our consolidated assets include $4,609 million and $4,551 million as of March 31, 2026 and December 31, 2025, respectively, of certain VIEs that can only be used to settle the liabilities of the VIE. Our consolidated liabilities include $2,381 million and $914 million as of March 31, 2026 and December 31, 2025, respectively, of certain VIEs for which the VIE creditors do not have recourse to us. See Note 17 — Variable Interest Entities for additional information.
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