Company: POR
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0000784977-25-000136
Chunk: 11

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. For calendar year-end entities, the update will be effective for annual periods beginning on January 1, 2025. Early adoption is permitted. PGE does not expect the adoption to have a material impact on the consolidated financial statements and has not early adopted the standard.

In November 2024, the FASB issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires additional disclosure, in the notes to financial statements, of specified information about certain costs and expenses. For calendar year-end entities, the update will be effective for annual periods beginning on January 1, 2027. Early adoption is permitted. PGE is assessing the impact of adoption on the consolidated financial statements and does not plan to early adopt the standard.

Reclassifications

To conform with current year presentation, the Company has reclassified Pension and other post retirement benefits of $3 million to Other non-cash income and expenses in the operating activities section of the consolidated statements of cash flows for the six-months ended June 30, 2024.

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Table of ContentsPORTLAND GENERAL ELECTRIC COMPANYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS, continued(Unaudited)

NOTE 2: REVENUE RECOGNITION

Disaggregated RevenueThe following table presents PGE’s revenue, disaggregated by customer type (in millions): Three Months Ended June 30, Six Months Ended June 30, 2025202420252024Retail:Residential$311 $307 $740 $722 Commercial234 219 476 446 Industrial128 104 255 206 Direct access customers10 9 19 15 Subtotal683 639 1,490 1,389 Alternative revenue programs, net of amortization9 (3)5 (14)Other accrued revenues, net6 4 10 5 Total retail revenues698 640 1,505 1,380 Wholesale revenues*88 99 188 275 Other operating revenues21 19 42 32 Total revenues$807 $758 $1,735 $1,687 * Wholesale revenues include $30 million and $32 million related to electricity commodity contract derivative settlements for the three months