Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 23

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 the valuation techniques used to measure fair value. The three levels of the fair value hierarchy and application to the Company are: Level 1Quoted prices are available in active markets for identical assets or liabilities as of the measurement date; Level 2Pricing inputs include those that are directly or indirectly observable in the marketplace as of the measurement date; andLevel 3Pricing inputs include significant inputs that are unobservable for the asset or liability.Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets, liabilities, and their placement within the fair value hierarchy. Assets measured at fair value using net asset value (NAV) as a practical expedient are not 

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

categorized in the fair value hierarchy. These assets are listed in the totals of the fair value hierarchy to permit the reconciliation to amounts presented in the financial statements.Changes to market liquidity conditions, the availability of observable inputs, or changes in the economic structure of a security marketplace may require transfer of the securities between levels. The Company’s financial assets and liabilities whose values were recognized at fair value in the Company’s condensed consolidated balance sheets are as follows by level within the fair value hierarchy (in millions): As of September 30, 2025Level 1Level 2Level 3Other (2)TotalAssets:Cash equivalents$112 $— $— $— $112 Nuclear decommissioning trust: (1)Debt securities:Domestic government13 12 — — 25 Corporate credit— 10 — — 10 Money market funds— — — 9 9 Non-qualified benefit plan trust: (3)Debt securities—domestic government1 — — — 1 Money market funds— — — 1 1 Paid Leave Oregon TrustMoney market funds— — — 6 6 Price risk management activities: (1) (4)Electricity— 14 — — 14 Natural gas— 5 1 — 6 $126 $41 $1 $16 $184 Liabilities:Price risk management activities: