Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 157

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 157
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 spent nuclear fuel.  See “Environmental Remediation Contingencies” in Note 11 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q, as well as Item 1A: “Risk Factors” and Note 15 of the Notes to the Consolidated Financial Statements in Item 8 of the 2024 Form 10-K.

RISK MANAGEMENT ACTIVITIES

There have been no material changes to the Utility’s or PG&E Corporation’s risk management activities as previously disclosed in Item 7 of the 2024 Form 10-K.

CRITICAL ACCOUNTING ESTIMATES

There have been no material changes to the Utility’s or PG&E Corporation’s critical accounting estimates as previously disclosed in Item 7 of the 2024 Form 10-K.

ACCOUNTING STANDARDS ISSUED BUT NOT YET ADOPTED

See Note 2 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1.

33

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

PG&E CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share amounts)(Unaudited) Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Operating Revenues  Electric$4,755 $4,538 $13,304 $13,048 Natural gas1,495 1,403 4,827 4,740 Total operating revenues6,250 5,941 18,131 17,788 Operating Expenses  Cost of electricity1,015 835 2,013 1,919 Cost of natural gas131 89 738 822 Operating and maintenance2,641 2,683 8,147 8,076 SB 901 securitization charges, net35 33 35 33 Wildfire-related claims, net of recoveries1 74 100 70 Wildfire Fund expense86 139 271 295 Depreciation, amortization, and decommissioning1,132 1,059 3,302 3,134 Total operating expenses5,041 4,912 14,606 14,349 Operating Income1,209 1,029 3,525 3,439 Interest income94 156 392 495 Interest