Company: PCG-PB
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001004980-25-000087
Chunk: 155

Company: PG&E Corp
Filing Date: 2025-04-24
Form: 10-Q
Item: Item 1A
Chunk 155
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 of specified information about certain costs and expenses.  This ASU will become effective for PG&E Corporation and the Utility for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, 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.Induced Conversions of Convertible Debt InstrumentsIn November 2024, the FASB issued ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which amends the existing guidance by clarifying the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as induced conversions.  Under this ASU, to account for a settlement of a convertible debt instrument as an induced conversion, an inducement offer is required to provide the debt holder with, at a minimum, the consideration (in form and amount) issuable under the conversion privileges provided in the terms of the instrument.  An entity should assess whether this criterion is satisfied as of the date the inducement offer is accepted by the holder.  This ASU will become effective for PG&E Corporation and the Utility for fiscal years beginning after December 15, 2025, 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.

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NOTE 3: REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS

Regulatory AssetsNoncurrent regulatory assets are comprised of the following: Balance at(in millions)March 31, 2025December 31, 2024Pension benefits$672 $673 Environmental compliance costs1,069 1,172 Price risk management156 167 Catastrophic event memorandum account717 742 Wildfire-related accounts1,602 1,697 Deferred income taxes4,993 4,771 Financing costs212 216 SB 901 securitization5,175 5,194 General rate case memorandum accounts85 95 Other870 834 Total noncurrent regulatory assets$15,551 $15,561 

Regulatory LiabilitiesNoncurrent regulatory liabilities are comprised of the following: Balance at(in millions