Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 182

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 182
---
 expense of $86 million and $139 million, respectively.  During the nine months ended September 30, 2025 and 2024, the Utility recorded amortization and accretion expense of $271 million and $295 million, respectively.  The amortization of the asset, accretion of the liability, and applicable acceleration of the amortization of the asset are reflected in Wildfire Fund expense in the Condensed Consolidated Statements of Income.

55

PG&E Corporation and the Utility expect to begin accounting for the Continuation Account if the Wildfire Fund administrator determines that the Continuation Account is necessary and the CPUC approves the extension of non-bypassable charges to customers.For more information, see “Wildfire Fund Recoveries under AB 1054 and SB 254” in Note 10 below.

Oakland Headquarters PurchaseOn June 3, 2025, the Utility completed the purchase of the legal parcel that contains the Lakeside Building (the "Property"). The purchase price was $906 million, of which the Utility had prepaid a total of $400 million.  At closing, the Utility assumed a $172 million noncurrent liability for a property assessment carried by the Property and paid an additional $349 million, which was adjusted for closing costs.  The cash payment is included within the Capital expenditures line item in PG&E Corporation’s and Utility’s Condensed Consolidated Statements of Cash Flows, and the property assessment and prepayments are included in Supplemental disclosures of noncash investing and financing activities.  

Pension and Other Post-Retirement BenefitsPG&E Corporation and the Utility sponsor a non-contributory defined benefit pension plan and cash balance plan.  Both plans are included in “Pension Benefits” below.  Post-retirement medical and life insurance plans are included in “Other Benefits” below.The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2025 and 2024 were as follows:Pension BenefitsOther BenefitsThree Months Ended September 30,(in millions)2025202420252024Service cost for benefits earned (1)$106 $99 $9 $10 Interest cost252 229 18 17 Expected return on plan assets(263)(254)(37)(35)Amortization of prior service (credit)(1)— 1 1 Amortization of net actuarial (gain)— — (6)(6)Net periodic benefit