Company: POR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000784977-25-000012
Chunk: 47

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 47
---
2,923 2,647 Operating expenses:Purchased power and fuel1,418 1,190 988 Generation, transmission and distribution436 374 348 Administrative and other403 341 340 Depreciation and amortization496 458 417 Taxes other than income taxes175 164 157 Total operating expenses2,928 2,527 2,250 Income from operations512 396 397 Interest expense, net211 173 156 Other income:Allowance for equity funds used during construction23 19 14 Miscellaneous income, net26 31 17 Other income, net49 50 31 Income before income taxes350 273 272 Income tax expense37  45 39 Net income$313 $228 $233 Weighted-average shares outstanding (in thousands):Basic103,946 97,760 89,290 Diluted104,159 97,952 89,643 Earnings per share:Basic$3.02 $2.33 $2.61 Diluted$3.01 $2.33 $2.60 

See accompanying notes to consolidated financial statements.

78

Table of ContentsPORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In millions)

Years Ended December 31,202420232022Net income$313 $228 $233 Other comprehensive income (loss)—Change in compensation retirement benefits liability and amortization, net of taxes of an immaterial amount in all three years1 (1)6 Comprehensive income$314 $227 $239 

See accompanying notes to consolidated financial statements.

79

Table of ContentsPORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(In millions)

As of December 31,20242023ASSETSCurrent assets:Cash and cash equivalents$12 $5 Accounts receivable, net456 414 Inventories, at average cost:Materials and supplies92 83 Fuel22 30 Regulatory assets—current205 221 Other current assets238 182 Total current assets1,025 935 Electric utility plant:In service14,863 13,329 Accumulated depreciation and amortization(5,085)(4,757)In service, net9,778