Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 22

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 not categorized in the fair value hierarchy. These assets are listed in the totals of the fair value hierarchy to permit the reconciliation to amounts presented in the financial statements.

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

Changes to market liquidity conditions, the availability of observable inputs, or changes in the economic structure of a security marketplace may require transfer of the securities between levels. The Company’s financial assets and liabilities whose values were recognized at fair value in the Company’s condensed consolidated balance sheets are as follows by level within the fair value hierarchy (in millions):As of March 31, 2025Level 1Level 2Level 3Other (2)TotalAssets:Cash equivalents$— $— $— $— $— Nuclear decommissioning trust: (1)Debt securities:Domestic government15 12 — — 27 Corporate credit— 9 — — 9 Money market funds— — — 8 8 Non-qualified benefit plan trust: (3)Debt securities—domestic government2 — — — 2 Paid Leave Oregon TrustMoney market funds— — — 5 5 Price risk management activities: (1) (4)Electricity— 21 4 — 25 Natural gas— 8 — — 8 $17 $50 $4 $13 $84 Liabilities:Price risk management activities: (1) (4)Electricity$— $19 $39 $— $58 Natural gas— 114 4 — 118 $— $133 $43 $— $176  (1)Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in Regulatory assets or Regulatory liabilities as appropriate.(2)Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.(3)Excludes insurance policies of $32 million, which are recorded at cash surrender value.(4)For further information, see Note 5, Risk Management.

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

As of December 31, 2024Level 1Level 2Level 3