Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 193

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 193
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 SB 901 securitization regulatory asset and liability over the life of the recovery bonds, with such amortization reflected in Operating and maintenance expense in the Condensed Consolidated Statements of Income.  During the three and nine months ended September 30, 2025, the Utility recorded $87 million and $226 million for amortization of the regulatory asset and liability, respectively, in the Condensed Consolidated Statements of Income.  During the three and nine months ended September 30, 2024, the Utility recorded $80 million and $241 million for amortization of the regulatory asset and liability, respectively, in the Condensed Consolidated Statements of Income.The following tables illustrate the changes in the SB 901 securitization’s impact on the Utility’s regulatory assets and liabilities:SB 901 securitization regulatory asset(in millions)20252024Balance at January 1$5,194 $5,249 Amortization(77)(48)Balance at September 30$5,117 $5,201 SB 901 securitization regulatory liability(in millions)20252024Balance at January 1$(6,295)$(6,628)Amortization303289Additions(1)(111)(53)Balance at September 30$(6,103)$(6,392)(1) Includes $76 million and $20 million of returns on investments in the customer credit trust expected to be credited to customers for the nine months ended September 30, 2025 and 2024, respectively.

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NOTE 6: EQUITY

DividendsSubject to the dividend restrictions as described in Note 6 of the Notes to the Consolidated Financial Statements in Item 8 of the 2024 Form 10-K, any decision to declare and pay dividends in the future will be made at the discretion of PG&E Corporation’s and the Utility’s Boards of Directors and will depend on, among other things, results of operations, financial condition, cash requirements, contractual restrictions and other factors that the Boards of Directors may deem relevant.UtilityOn each of November 29, 2024, February 20, and May 22, 2025, the Board of Directors of the Utility declared dividends on its outstanding series of preferred stock totaling $3.5 million, which were paid on February 18, May 15, and August 15, 2025, to holders of record as of January 31, April 30,