Company: POR
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0000784977-25-000074
Chunk: 97

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 policies of $32 million, which are recorded at cash surrender value.(4)For further information, see Note 5, Risk Management.

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

As of December 31, 2024Level 1Level 2Level 3Other (2)TotalAssets:Cash equivalents$12 $— $— $— $12 Nuclear decommissioning trust: (1)Debt securities:Domestic government10 6 — — 16 Corporate credit— 7 — — 7 Money market funds— — — 7 7 Non-qualified benefit plan trust: (3)Debt securities—domestic government2 — — — 2 Paid Leave Oregon Trust:Money market funds— — — 4 4 Price risk management activities: (1) (4)Electricity— 18 1 — 19 Natural gas— 15 — — 15 $24 $46 $1 $11 $82 Liabilities:Price risk management activities: (1) (4)Electricity$— $25 $31 $— $56 Natural gas— 159 4 — 163 $— $184 $35 $— $219  (1)Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in Regulatory assets or Regulatory liabilities as appropriate.(2)Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.(3)Excludes insurance policies of $32 million, which are recorded at cash surrender value.(4)For further information, see Note 5, Risk Management.Cash equivalents are highly liquid investments with maturities of three months or less at the date of acquisition and primarily consist of money market funds. Such funds seek to maintain a stable NAV and are comprised of short-term, government funds. Policies of such funds require that the weighted average maturity of securities holdings of such funds not exceed 90 days and provide investors with the ability to redeem shares of the funds daily at their respective NAV. Cash equivalents are classified as Level 1 in the fair value hierarchy due to the availability of quoted prices for identical assets in an active market as of the measurement date. Principal markets