Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 68

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 68
---
million, of which the Utility had prepaid a total of $400 million.  At closing, the Utility assumed a $172 million noncurrent liability for a property assessment carried by the Property and paid an additional $349 million, which was adjusted for closing costs.  The cash payment is included within the Capital expenditures line item in PG&E Corporation’s and Utility’s Condensed Consolidated Statements of Cash Flows, and the property assessment and prepayments are included in Supplemental disclosures of noncash investing and financing activities.  

Pension and Other Post-Retirement BenefitsPG&E Corporation and the Utility sponsor a non-contributory defined benefit pension plan and cash balance plan.  Both plans are included in “Pension Benefits” below.  Post-retirement medical and life insurance plans are included in “Other Benefits” below.The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2025 and 2024 were as follows:Pension BenefitsOther BenefitsThree Months Ended September 30,(in millions)2025202420252024Service cost for benefits earned (1)$106 $99 $9 $10 Interest cost252 229 18 17 Expected return on plan assets(263)(254)(37)(35)Amortization of prior service (credit)(1)— 1 1 Amortization of net actuarial (gain)— — (6)(6)Net periodic benefit cost94 74 (15)(13)Regulatory account transfer (2)(10)(10)— — Total$84 $64 $(15)$(13)(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.Pension BenefitsOther BenefitsNine Months Ended September 30,(in millions)2025202420252024Service cost for benefits earned (1)$318 $297 $28 $31 Interest cost756 687 55 53 Expected return on plan assets(790)(761)(112)(105)Amortization of prior service cost (credit)(2)(2)2 2 Amortization of net actuarial loss (gain)1 1 (17)(17)Net periodic benefit cost283 222 (44)(36)Regulatory account transfer (2)(30)(29)— — Total