Company: POR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000784977-25-000172
Chunk: 101

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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14 InventoriesPGE’s inventories, which are recorded at average cost, consist primarily of materials and supplies for use in operations, maintenance, and capital activities, as well as fuel, which includes natural gas, coal, and oil, for use in the Company’s generating plants. Periodically, PGE assesses whether inventories are recorded at the lower of average cost or net realizable value. Other Current AssetsOther current assets consist of the following (in millions): September 30, 2025December 31, 2024Prepaid expenses$61 $81 Assets from price risk management activities16 32 Margin deposits59 125 Other current assets$136 $238 

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

Electric Utility Plant, NetElectric utility plant, net consists of the following (in millions): September 30, 2025December 31, 2024Electric utility plant in-service*$15,762 $14,863 Construction work-in-progress422 567 Total cost16,184 15,430 Less: accumulated depreciation and amortization(5,380)(5,085)Electric utility plant, net$10,804 $10,345 *The Seaside Battery Energy Storage System Project was placed in-service on July 8, 2025 and, as of September 30, 2025, had $395 million reflected in Electric utility plant, net.Accumulated depreciation and amortization in the table above includes accumulated amortization related to intangible assets of $667 million and $611 million as of September 30, 2025 and December 31, 2024, respectively. Amortization expense related to intangible assets was $19 million  for both the three months ended September 30, 2025 and 2024 and $57 million and $55 million for the nine months ended September 30, 2025 and 2024, respectively. The Company’s intangible assets primarily consist of computer software development and hydro licensing costs.Regulatory Assets and Liabilities Regulatory assets and liabilities consist of the following (in millions):  September 30, 2025December 31, 2024CurrentNoncurrentCurrentNoncurrentRegulatory assets:Price risk management$117 $39 $115 $70 Pension and other postretirement plans— 84