Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 68

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which amends the existing guidance to require disclosure, in the notes to the financial statements, of specified information about certain costs and expenses.  This ASU will become effective for PG&E Corporation and the Utility for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted.  PG&E Corporation and the Utility are currently evaluating the impact the guidance will have on their Condensed Consolidated Financial Statements and related disclosures.Induced Conversions of Convertible Debt InstrumentsIn November 2024, the FASB issued ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which amends the existing guidance by clarifying the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as induced conversions.  Under this ASU, to account for a settlement of a convertible debt instrument as an induced conversion, an inducement offer is required to provide the debt holder with, at a minimum, the consideration (in form and amount) issuable under the conversion privileges provided in the terms of the instrument.  An entity should assess whether this criterion is satisfied as of the date the inducement offer is accepted by the holder.  This ASU will become effective for PG&E Corporation and the Utility for fiscal years beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with early adoption permitted.  PG&E Corporation and the Utility are currently evaluating the impact the guidance will have on their Condensed Consolidated Financial Statements and related disclosures.

NOTE 3: REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS

Regulatory AssetsNoncurrent regulatory assets are comprised of the following: Balance at(in millions)June 30, 2025December 31, 2024Pension benefits$682 $673 Environmental compliance costs1,109 1,172 Price risk management104 167 Catastrophic event memorandum account762 742 Wildfire-related accounts1,721 1,697 Deferred income taxes5,242 4,771 Financing costs209 216 SB 901 securitization5,139 5,194 General rate case memorandum accounts78 95 Other