UNITED STATES SECURITIES AND EXCHANGE COMMISSION ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended December 31, 2017 or
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from ______ to _______
Commission File Number 001-14881
001-05152
333-90553
333-15387
000-52378
000-00508
Exact name of registrant as specified in its charter; State or other jurisdiction of incorporation or organization
BERKSHIRE HATHAWAY ENERGY COMPANY (An Iowa Corporation)
666 Grand Avenue, Suite 500 Des Moines, Iowa 50309-2580
515-242-4300
PACIFICORP (An Oregon Corporation) 825 N.E. Multnomah Street Portland, Oregon 97232
888-221-7070
MIDAMERICAN FUNDING, LLC (An Iowa Limited Liability Company)
666 Grand Avenue, Suite 500 Des Moines, Iowa 50309-2580
515-242-4300
MIDAMERICAN ENERGY COMPANY (An Iowa Corporation)
666 Grand Avenue, Suite 500 Des Moines, Iowa 50309-2580
515-242-4300
NEVADA POWER COMPANY (A Nevada Corporation) 6226 West Sahara Avenue Las Vegas, Nevada 89146 702-402-5000
SIERRA PACIFIC POWER COMPANY (A Nevada Corporation) 6100 Neil Road Reno, Nevada 89511 775-834-4011
IRS Employer Identification No.
94-2213782
93-0246090
47-0819200
42-1425214
88-0420104
88-0044418
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Securities registered pursuant to Section 12(b) of the Act: None None None None None None
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Name of exchange on which registered: None None None None None None
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Securities registered pursuant to Section 12(g) of the Act: None None None None
Common Stock, $1.00 stated value Common Stock, $3.75 par value
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Yes
No
X
X
X
X
X
X
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Yes
No
X
X
X
X
X
X
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Yes
No
X
X
X
X
X
X
Indicate by check mark whether the registrants have submitted electronically and posted on their corporate Web sites, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (?232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit and post such files).Yes x No o
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (? 229.405 of this chapter) is not contained herein, and will not be contained, to the best of the registrants' knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Registrant BERKSHIRE HATHAWAY ENERGY COMPANY PACIFICORP MIDAMERICAN FUNDING, LLC MIDAMERICAN ENERGY COMPANY NEVADA POWER COMPANY SIERRA PACIFIC POWER COMPANY
Large
Non-
accelerated Accelerated accelerated
filer
filer
filer
X
X
X
X
X
X
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the registrants are a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes o No x
All shares of outstanding common stock of Berkshire Hathaway Energy Company are privately held by a limited group of investors. As of February 16, 2018, 77,174,325 shares of common stock, no par value, were outstanding.
All shares of outstanding common stock of PacifiCorp are indirectly owned by Berkshire Hathaway Energy Company. As of February 16, 2018, 357,060,915 shares of common stock, no par value, were outstanding.
All of the member's equity of MidAmerican Funding, LLC is held by its parent company, Berkshire Hathaway Energy Company, as of February 16, 2018.
All shares of outstanding common stock of MidAmerican Energy Company are owned by its parent company, MHC Inc., which is a direct, wholly owned subsidiary of MidAmerican Funding, LLC. As of February 16, 2018, 70,980,203 shares of common stock, no par value, were outstanding.
All shares of outstanding common stock of Nevada Power Company are owned by its parent company, NV Energy, Inc., which is an indirect, wholly owned subsidiary of Berkshire Hathaway Energy Company. As of February 16, 2018, 1,000 shares of common stock, $1.00 stated value, were outstanding.
All shares of outstanding common stock of Sierra Pacific Power Company are owned by its parent company, NV Energy, Inc. As of February 16, 2018, 1,000 shares of common stock, $3.75 par value, were outstanding.
Berkshire Hathaway Energy Company, MidAmerican Funding, LLC, MidAmerican Energy Company, Nevada Power Company and Sierra Pacific Power Company meet the conditions set forth in General Instruction I(1)(a) and (b) of Form 10-K and are therefore filing portions of this Form 10-K with the reduced disclosure format specified in General Instruction I(2) of Form 10K.
This combined Form 10-K is separately filed by Berkshire Hathaway Energy Company, PacifiCorp, MidAmerican Funding, LLC, MidAmerican Energy Company, Nevada Power Company and Sierra Pacific Power Company. Information contained herein relating to any individual company is filed by such company on its own behalf. Each company makes no representation as to information relating to the other companies.
TABLE OF CONTENTS
PART I
Item 1.
Business
1
Item 1A.
Risk Factors
70
Item 1B.
Unresolved Staff Comments
82
Item 2.
Properties
83
Item 3.
Legal Proceedings
84
Item 4.
Mine Safety Disclosures
84
PART II
Item 5.
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of
85
Equity Securities
Item 6.
Selected Financial Data
86
Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
86
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
86
Item 8.
Financial Statements and Supplementary Data
87
Item 9.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
382
Item 9A.
Controls and Procedures
382
Item 9B.
Other Information
382
PART III
Item 10.
Directors, Executive Officers and Corporate Governance
383
Item 11.
Executive Compensation
384
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
391
Matters
Item 13.
Certain Relationships and Related Transactions, and Director Independence
392
Item 14.
Principal Accountant Fees and Services
393
PART IV
Item 15.
Exhibits and Financial Statement Schedules
394
Item 16.
Form 10-K Summary
394
Signatures
442
Exhibit Index
427
i
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.