Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 90

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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$114 $(4)$902 As of December 31, 2024    Customer credit trust    Short-term investments$1 $— $— $1 Global equity securities161 28 (3)186 Fixed-income securities193 1 (4)190 Total $355 $29 $(7)$377 

The fair value of fixed-income securities by contractual maturity is as follows: As of(in millions)September 30, 2025Less than 1 year$1 1–5 years132 5–10 years49 More than 10 years262 Total maturities of fixed-income securities$444 

The following table provides a summary of activity for the fixed-income and equity securities:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,(in millions)2025202420252024Proceeds from sales and maturities of customer credit trust investments$114 $117 $310 $291 Gross realized gains on securities7 — 128Gross realized losses on securities (3)— (14)(2)

NOTE 10: WILDFIRE-RELATED CONTINGENCIES

Liability OverviewPG&E Corporation and the Utility have significant contingencies arising from their operations, including contingencies related to wildfires.  PG&E Corporation and the Utility record a provision for a loss contingency when they determine that it is both probable that a liability has been incurred and the amount of the liability can be reasonably estimated.  PG&E Corporation and the Utility evaluate which potential liabilities are probable and the related range of reasonably estimated losses and record a charge that reflects their best estimate or the lower end of the range, if there is no better estimate.

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Assessing whether a loss is probable or reasonably possible, whether the loss or a range of losses is estimable, and the amount of the best estimate or lower end of the range often requires management to exercise significant judgment about future events.  Management makes these assessments based on a number of assumptions and subjective factors, including negotiations (including those during mediations with claimants), discovery, settlements and payments, rulings, advice of legal counsel, and other information and events pertaining to a particular matter, and estimates based on currently available information and prior experience with wildfires.  Unless expressly noted otherwise, the loss accruals in this Note reflect the lower end of the range of the reasonably estimable range of losses.  PG&E Corporation and the Utility believe that it is reasonably possible