Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 210

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 210
---
 in the valuation model, as applicable.Assets Measured at NAV Using Practical ExpedientInvestments in the trusts that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy tables above.  The fair value amounts are included in the tables above in order to reconcile to the amounts presented in the Consolidated Balance Sheets.  These investments include commingled funds that are composed of equity securities traded publicly on exchanges, fixed-income securities that are composed primarily of U.S. government securities, credit securities and asset-backed securities, and real assets and absolute return investments that are held to diversify the trust’s holdings in equity and fixed-income securities.Transfers Between LevelsNo material transfers between levels occurred in the years ended December 31, 2024 or 2023.

146

Level 3 ReconciliationThe following table is a reconciliation of changes in the fair value of instruments for the pension plan that have been classified as Level 3 for the years ended December 31, 2024 and 2023:(in millions)For the year ended December 31, 2024Fixed-IncomeBalance at beginning of year$13 Actual return on plan assets:Relating to assets still held at the reporting date9 Relating to assets sold during the period(9)Purchases, issuances, sales, and settlements:Purchases14 Settlements(11)Balance at end of year$16   (in millions)For the year ended December 31, 2023Fixed-IncomeBalance at beginning of year$8 Actual return on plan assets:  Relating to assets still held at the reporting date2 Relating to assets sold during the period(1)Purchases, issuances, sales, and settlements:Purchases10 Settlements(6)Balance at end of year$13 There were no material transfers out of Level 3 in 2024 or 2023.Cash Flow Information Employer ContributionsPG&E Corporation and the Utility contributed $337 million to the pension benefit plans, $31 million to the long-term disability trusts, and $5 million to the other postretirement benefit plans in 2024.  These contributions are consistent with PG&E Corporation’s and the Utility’s funding policy, which is to contribute amounts that are tax-deductible and consistent with applicable regulatory decisions and federal minimum funding requirements. The Utility’s pension benefits met all funding requirements under the Employee Retirement Income Security Act of 1974, as amended.