Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 205

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 205
---
 were $261 million and $296 million as of December 31, 2024, and $275 million and $292 million as of December 31, 2023, respectively.There was no material difference between PG&E Corporation and the Utility for the information disclosed above.Components of Net Periodic Benefit CostPG&E Corporation and the Utility sponsor a non-contributory defined benefit pension plan and cash balance plan.  Both plans are included in “Pension Plan” below.  Post-retirement medical and life insurance plans are included in “Postretirement Benefits Other than Pensions” below.

142

Net periodic benefit costs as reflected in PG&E Corporation’s Consolidated Statements of Income were as follows: Pension Plan(in millions)202420232022Service cost for benefits earned (1)$396 $379 $575 Interest cost916 913 692 Expected return on plan assets(1,014)(981)(1,189)Amortization of prior service cost(3)(4)(4)Amortization of net actuarial loss1 1 2 Net periodic benefit cost296 308 76 Less: transfer to regulatory account (2)39 25 254 Total expense recognized$335 $333 $330 (1) A portion of service costs are capitalized pursuant to ASC 715.(2) The Utility recorded these amounts to a regulatory account as they are probable of recovery through future rates.Postretirement Benefits Other than Pensions(in millions)202420232022Service cost for benefits earned (1)$41 $38 $62 Interest cost71 73 53 Expected return on plan assets(139)(132)(130)Amortization of prior service cost3 3 7 Amortization of net actuarial gain(23)(19)(40)Special termination benefits— — 22 Net periodic benefit cost$(47)$(37)$(26)(1) A portion of service costs are capitalized pursuant to ASC 715.Non-service costs are reflected in Other income, net on the Consolidated Statements of Income.  Service costs are reflected in Operating and maintenance on the Consolidated Statements of Income.There was no material difference between PG&E Corporation and the Utility for the information disclosed above.Components of Accumulated Other Comprehensive IncomePG&E Corporation and the Utility record unrecognized prior service costs and unrecognized gains and losses related to pension and post-retirement benefits other than pension as components of Accumulated other comprehensive income, net of tax.  In addition, regulatory