Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 208

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 208
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 securities26 %26 %26 %30 %29 %28 %Absolute return1 %1 %1 %— %— %1 %Real assets8 %8 %8 %3 %3 %3 %Fixed-income securities65 %65 %65 %67 %68 %68 %Total100 %100 %100 %100 %100 %100 %PG&E Corporation and the Utility apply a risk management framework for managing the risks associated with employee benefit plan trust assets.  The guiding principles of this risk management framework are the clear articulation of roles and responsibilities, appropriate delegation of authority, and proper accountability and documentation.  Trust investment policies and investment manager guidelines include provisions designed to ensure prudent diversification, manage risk through appropriate use of physical direct asset holdings and derivative securities, and identify permitted and prohibited investments.Fair Value Measurements The following tables present the fair value of plan assets for pension and other benefits plans by major asset category at December 31, 2024 and 2023. Fair Value Measurements At December 31, 20242023(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalPension Plan:        Short-term investments$126 $47 $— $173 $565 $86 $— $651 Global equity securities1,310 — — 1,310 1,270 — — 1,270 Real assets437 — — 437 472 — — 472 Fixed-income securities2,180 6,367 16 8,563 1,926 6,802 13 8,741 Assets measured at NAV— — — 6,284 — — — 6,080 Total$4,053 $6,414 $16 $16,767 $4,233 $6,888 $13 $17,214 PBOP Plans:        Short-term investments$27 $— $— $27 $30 $— $— $30 Global equity securities60 — — 60 66 — — 66 Real assets20 — — 20 32 — — 32 Fixed-income securities431 751 1