Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 188

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 188
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 (c) reduce diversity in practice resulting from the broad application of the current guidance and changing business environment. The amendments also are expected to reduce diversity in practice by clarifying the applicability of Topic 606, Revenue from Contracts with Customers, to share-based noncash consideration from a customer for the transfer of goods or services.  This ASU will become effective for PG&E Corporation and the Utility for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted.  PG&E Corporation and the Utility are currently evaluating the impact the guidance will have on their Condensed Consolidated Financial Statements and related disclosures.

NOTE 3: REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS

Regulatory AssetsNoncurrent regulatory assets are comprised of the following: Balance at(in millions)September 30, 2025December 31, 2024Pension benefits$693 $673 Environmental compliance costs1,138 1,172 Price risk management128 167 Catastrophic event memorandum account673 742 Wildfire-related accounts1,734 1,697 Deferred income taxes5,737 4,771 Financing costs205 216 SB 901 securitization5,117 5,194 General rate case memorandum accounts67 95 Other791 834 Total noncurrent regulatory assets$16,283 $15,561 

Regulatory LiabilitiesNoncurrent regulatory liabilities are comprised of the following: Balance at(in millions)September 30, 2025December 31, 2024Cost of removal obligations$9,339 $8,943 Public purpose programs1,183 1,112 Employee benefit plans1,103 1,088 Transmission tower wireless licenses270 306 SFGO sale20 79 SB 901 securitization6,103 6,295 Wildfire self-insurance817 804 Other1,226 790 Total noncurrent regulatory liabilities$20,061 $19,417 

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Regulatory Balancing AccountsCurrent regulatory balancing accounts receivable and payable are comprised of the following:Balance at(in millions)September 30, 2025December 31, 2024Electric distribution$959 $1,591 Electric transmission95 117 Gas distribution and transmission496 387 Energy procurement1,436 1,066 Public purpose programs