For the year ending 2025-12-31, CEG had $619M increase in cash & cash equivalents over the period. $1,288M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | 2,323 | 3,738 | 1,577 | -167 |
| Depreciation, amortization, and accretion, including nuclear fuel and energy contract amortization | 2,601 | 2,700 | 2,514 | 2,427 |
| Asset impairments | - | - | - | 0 |
| Gain on sales of assets and businesses | - | - | - | 1 |
| Deferred income taxes and amortization of itcs | 273 | 222 | 251 | -643 |
| Net fair value changes related to derivatives | -645 | 1,297 | -996 | -986 |
| Net realized and unrealized (gains) losses on ndt funds | 708 | 311 | 476 | -794 |
| Net realized and unrealized (gains) losses on equity investments | -279 | 11 | 307 | -13 |
| Other non-cash operating activities | 223 | 172 | -18 | -249 |
| Accounts receivable | 363 | -688 | -396 | 868 |
| Receivables from and payables to affiliates, net | - | 0 | 0 | 20 |
| Inventories | 134 | 99 | -60 | 228 |
| Accounts payable and accrued expenses | 316 | 1,121 | -1,330 | 1,142 |
| Option premiums received (paid), net | 38 | 216 | 26 | -177 |
| Collateral received (posted), net | -773 | 1,803 | -1,491 | -351 |
| Income taxes | 625 | 296 | 325 | 162 |
| Pension and non-pension postretirement benefit contributions | -211 | -184 | -54 | -237 |
| Other assets and liabilities | 451 | 11,174 | 7,806 | 5,474 |
| Net cash flows provided by (used in) operating activities | 4,237 | -2,464 | -5,301 | -2,353 |
| Capital expenditures | 2,949 | 2,565 | 2,422 | 1,689 |
| Proceeds from ndt fund sales | 6,946 | 6,005 | 5,822 | 4,050 |
| Investment in ndt funds | 7,284 | 6,282 | 6,050 | 4,271 |
| Collection of dpp, net | 0 | 10,217 | 7,340 | 4,964 |
| Proceeds from sales of assets and businesses | - | - | 24 | 52 |
| Acquisition of business | 14 | 32 | 1,690 | - |
| Other investing activities | -103 | -85 | -7 | 2 |
| Net cash flows provided by (used in) investing activities | -3,198 | 7,428 | 3,031 | 3,104 |
| Change in short-term borrowings | 0 | -1,105 | 146 | 257 |
| Proceeds from short-term borrowings with maturities greater than 90 days | 1,650 | 200 | 539 | 0 |
| Repayments of short-term borrowings with maturities greater than 90 days | 0 | 739 | 200 | 1,180 |
| Issuance of long-term debt | 0 | 920 | 3,195 | 14 |
| Retirement of long-term debt | 1,076 | 121 | 168 | 1,162 |
| Retirement of long-term debt to affiliate | - | 0 | 0 | 258 |
| Change in money pool with exelon | - | - | 0 | 0 |
| Acquisition of ceng noncontrolling interest | - | - | 0 | 0 |
| Distributions to exelon | - | - | 0 | 0 |
| Contributions from exelon | - | 0 | 0 | 1,750 |
| Dividends paid on common stock | 486 | 444 | 366 | 185 |
| Repurchases of common stock | 400 | 999 | 992 | - |
| Other financing activities | -108 | -1 | 42 | -35 |
| Net cash flows provided by (used in) financing activities | -420 | -2,289 | 2,196 | -799 |
| Increase (decrease) in cash, restricted cash, and cash equivalents | 619 | 2,675 | -74 | -48 |
| Cash, restricted cash, and cash equivalents at beginning of period | 3,129 | 454 | 528 | 576 |
| Cash, restricted cash, and cash equivalents at end of period | 3,748 | 3,129 | 454 | 528 |
Constellation Energy Corp (CEG)
Constellation Energy Corp (CEG)