Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 82

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 2024, respectively: Price Risk Management Instruments(in millions)20252024Asset balance as of April 1$126 $145 Net realized and unrealized gains (losses):Included in regulatory assets and liabilities or balancing accounts (1)10 13 Asset balance as of June 30$136 $158 (1) The costs related to price risk management activities are recovered through rates.  Accordingly, unrealized gains and losses are deferred in regulatory liabilities and assets and net income is not impacted. Price Risk Management Instruments(in millions)20252024Asset balance as of January 1$127 $191 Net realized and unrealized gains (losses):Included in regulatory assets and liabilities or balancing accounts (1)9 (33)Asset balance as of June 30$136 $158 (1) The costs related to price risk management activities are recovered through rates.  Accordingly, unrealized gains and losses are deferred in regulatory liabilities and assets and net income is not impacted.

Financial InstrumentsPG&E Corporation and the Utility use the following methods and assumptions in estimating fair value for financial instruments: the fair values of cash, net accounts receivable, short-term borrowings, accounts payable, and customer deposits approximate their carrying values as of June 30, 2025 and December 31, 2024, as they are short-term in nature.

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The carrying amount and fair value of PG&E Corporation’s and the Utility’s long-term debt instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values): At June 30, 2025At December 31, 2024(in millions)Carrying AmountLevel 2 Fair ValueCarrying AmountLevel 2 Fair ValueDebt (Note 4)    PG&E Corporation (1)$5,352 $5,490 $5,358 $5,829 Utility38,162 34,319 37,812 34,532 (1) As of June 30, 2025, the net carrying amount and the estimated fair value (Level 2) of the Convertible Notes was $2.1 billion.

Nuclear Decommissioning Trust InvestmentsThe following table provides a summary of equity securities and available-for-sale debt securities:(in millions)AmortizedCostTotalUnrealizedGainsTotalUnrealizedLossesTotal FairValueAs of June 30, 2025    Nuclear decom