Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 42

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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axes other than income taxes46 41 92 88 Total operating expenses689 642 1,449 1,409 Income from operations118 116 286 278 Interest expense, net:Interest expense60 56 120 111 Allowance for borrowed funds used during construction(3)(4)(7)(8)Total interest expense, net 57 52 113 103 Other income, net:13 15 23 26 Income before income taxes74 79 196 201 Income tax expense12 7 34 20 Net income$62 $72 $162 $181 Certain additional financial information relating to the Company’s single business segment was as follows (dollars in millions):  June 30, 2025December 31, 2024Total assets$12,681 $12,544 

 Six Months Ended June 30,  20252024Capital expenditures                                                                    596 623 

33

Table of Contents

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 such forward-looking statements.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed. Portland General Electric Company’s (PGE, or the Company) expectations, beliefs, and projections are expressed in good faith and are believed by the Company to have a reasonable basis including, but not limited to, management’s examination of historical operating trends and data contained either in internal records or available from third parties, but there can