Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 6

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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Item 1.Financial Statements.

PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

AND COMPREHENSIVE INCOME

(Dollars in millions, except per share amounts)

(Unaudited)                                                        

Three Months Ended March 31, 20252024Revenues:Revenues, net$932 $940 Alternative revenue programs, net of amortization(4)(11)Total revenues928 929 Operating expenses:Purchased power and fuel368 405 Generation, transmission and distribution110 99 Administrative and other96 95 Depreciation and amortization140 121 Taxes other than income taxes46 47 Total operating expenses760 767 Income from operations168 162 Interest expense, net56 51 Other income:Allowance for equity funds used during construction5 5 Miscellaneous income, net5 6 Other income, net10 11 Income before income tax expense122 122 Income tax expense 22 13 Net income 100 109 Other comprehensive income— 1 Net income and Comprehensive income$100 $110 Weighted-average common shares outstanding (in thousands):Basic109,423 101,299 Diluted109,683 101,467 Earnings per share—basic and diluted$0.91 $1.08 See accompanying notes to condensed consolidated financial statements.    

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in millions)(Unaudited)                                                    

March 31, 2025December 31, 2024ASSETSCurrent assets:Cash and cash equivalents$11 $12 Accounts receivable, net473 456 Inventories111 114 Regulatory assets—current164 205 Other current assets215 238 Total current assets974 1,025 Electric utility plant, net10,534 10,345 Regulatory assets—noncurrent633 632 Nuclear decommissioning trust44 30 Non-qualified benefit plan trust34 34 Other noncurrent assets476 478 Total assets$12,695 $12,544 See accompanying notes to condensed consolidated financial statements.

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDI