Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 60

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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,722)Total electric operating revenue$4,755 $4,538 $13,304 $13,048 Natural gasRevenue from contracts with customers   Residential$490 $412 $2,629 $2,142    Commercial173 163 794 723    Transportation service only436 408 1,438 1,307    Other, net (1)(1)44 (268)(158)Total revenue from contracts with customers - gas1,098 1,027 4,593 4,014 Regulatory balancing accounts (2)397 376 234 726 Total natural gas operating revenue1,495 1,403 4,827 4,740 Total operating revenues$6,250 $5,941 $18,131 $17,788 (1) This activity is primarily related to the change in unbilled revenue and amounts subject to refund, partially offset by other miscellaneous revenue items.(2) These amounts represent alternative revenues authorized to be billed or refunded to customers.

Financial Assets Measured at Amortized Cost – Credit LossesPG&E Corporation and the Utility use the current expected credit loss model to estimate the expected lifetime credit loss on financial assets measured at amortized cost.  PG&E Corporation and the Utility evaluate credit risk in their portfolio of financial assets quarterly.  As of September 30, 2025, PG&E Corporation and the Utility identified the following significant categories of financial assets.Trade ReceivablesTrade receivables are represented by customer accounts.  PG&E Corporation and the Utility record an allowance for doubtful accounts to recognize an estimate of expected lifetime credit losses.  The allowance is determined on a collective basis based on the historical amounts written-off and an assessment of customer collectability.  Furthermore, economic conditions are evaluated as part of the estimate of expected lifetime credit losses.

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Expected credit losses of $89 million and $331 million were recorded in Operating and maintenance expense on the Condensed Consolidated Statements of Income for credit losses associated with trade and other receivables during the three and nine months ended September 30, 2025, respectively.  For the three and nine months ended September 30, 2024, expected credit losses were $109 million and $244 million, respectively.  The portion of expected credit losses that are deemed probable of recovery are deferred to the RUBA and a FERC regulatory asset account.  As of September