Company: PCG-PB
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001004980-25-000087
Chunk: 56

Company: PG&E Corp
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three months ended March 31, 2025 and 2024 were as follows:Pension BenefitsOther BenefitsThree Months Ended March 31,(in millions)2025202420252024Service cost for benefits earned (1)$106 $99 $9 $10 Interest cost252 229 18 18 Expected return on plan assets(263)(253)(37)(35)Amortization of prior service (credit)(1)(1)1 1 Amortization of net actuarial gain— — (6)(6)Net periodic benefit cost94 74 (15)(12)Regulatory account transfer (2)(10)10 — — Total$84 $84 $(15)$(12)(1) A portion of service costs is capitalized pursuant to GAAP.(2) The Utility recorded these amounts to a regulatory account since they are probable of recovery or refund through rates in future periods.Non-service costs are reflected in Other income, net on the Condensed Consolidated Statements of Income.  Service costs are reflected in Operating and maintenance on the Condensed Consolidated Statements of Income.There was no material difference between PG&E Corporation and the Utility for the information disclosed above.

Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)The changes, net of income tax, in PG&E Corporation’s Accumulated other comprehensive income (loss) for the three months ended March 31, 2025 consisted of the following:PensionBenefitsOtherBenefitsAvailable-for-Sale Securities(2)Total(in millions, net of income tax)Three Months Ended March 31, 2025Beginning balance$(35)$18 $3 $(14)Other comprehensive income before reclassificationGain on investments (net of taxes of $0, $0 and $2, respectively)— — 7 7 Amounts reclassified from other comprehensive income: (1)Amortization of net actuarial gain (net of taxes of $0, $1, and $0, respectively)— (4)— (4)Regulatory account transfer (net of taxes of $0, $1, and $0, respectively)— 4 — 4 Net current period other comprehensive gain— — 7 7 Ending balance$(35)$18 $10 $(7)(1) These components are included in the computation of net periodic