Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 164

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 164
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986 $11,881 $11,847 (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 June 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.

49

Expected credit losses of $141 million and $241 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 six months ended June 30, 2025, respectively.  For the three and six months ended June 30, 2024, expected credit losses were $65 million and $135 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 June 30, 2025, the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $146 million and $90 million, respectively.  As of December 31, 2024, the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $260 million and $85 million, respectively.  The RUBA current balancing account balance decreased from December 31, 2024 to June 30, 2025 primarily due to the annual electric and gas true-up, which allows the Utility to recover approximately $260 million in undercollections from residential customers in 2025.   Other Receivables and Available-For-Sale Debt SecuritiesInsurance receivables are related to the liability insurance policies PG&E Corporation and the Utility carry.  Insurance receivable