Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 114

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
 earnings per share and return on equity, which is an important metric for investors, regulators and is also tied to employee compensation. The table below provides information about the Company’s single business segment, including significant segment expenses, and includes reconciliation to Consolidated Net Income (dollars in millions): Three Months Ended March 31,  20252024Total revenues $928 $929 Operating expenses:Purchased power and fuel368 405 Operating and maintenance expense:Generation, transmission and distribution110 99 Administrative and other96 95       Total operating and maintenance expense206 194 Depreciation and amortization140 121 Taxes other than income taxes46 47 Total operating expenses760 767 Income from operations168 162 Interest expense, net:Interest expense60 55 Allowance for borrowed funds used during construction(4)(4)Total interest expense, net 56 51 Other income, net:10 11 Income before income taxes122 122 Income tax expense22 13 Net income$100 $109 

32

Table of ContentsPORTLAND GENERAL ELECTRIC COMPANYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, continued(Unaudited)

Certain additional financial information relating to the Company’s single business segment was as follows (dollars in millions):  Three Months Ended March 31,  20252024Total assets$12,695 $11,588 Capital expenditures                                                                       359 325 

Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

The information in this report includes statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that relate to expectations, beliefs, plans, assumptions, and objectives concerning future results of operations, business prospects, loads, outcome of litigation and regulatory proceedings, capital expenditures, market conditions, events or performance, and other matters. Words or phrases such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will likely result,” “will continue,” “should,”  “based on,” “conditioned upon,” “considers,” “could,” “expected,” “forecast,” “goals,” “needs,” “promises,” “subject to,” “targets,” or similar expressions are intended to identify