PORTLAND GENERAL ELECTRIC CO OR
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 26, 2024
POR$45.92-0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In millions)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $109 | $74 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 121 | 111 |
| Deferred income taxes | 37 | 4 |
| Pension and other postretirement benefits | 1 | 1 |
| Allowance for equity funds used during construction | (5) | (3) |
| Decoupling mechanism deferrals, net of amortization | 11 | (3) |
| Regulatory assets | (120) | (6) |
| Regulatory liabilities | (3) | 8 |
| Other non-cash income and expenses, net | 23 | 10 |
| Changes in working capital: | ||
| Accounts receivable, net | (5) | 34 |
| Inventories | (1) | — |
| Margin deposits | 27 | 86 |
| Accounts payable and accrued liabilities | 24 | (174) |
| Margin deposits from wholesale counterparties | — | (140) |
| Other working capital items, net | (16) | (27) |
| Other, net | (28) | (14) |
| Net cash provided by (used in) operating activities | 175 | (39) |
| See accompanying notes to condensed consolidated financial statements. | ||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued
(In millions)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from investing activities: | ||
| Capital expenditures | (325) | (274) |
| Proceeds from sale of properties | — | 2 |
| Other, net | (6) | (4) |
| Net cash used in investing activities | (331) | (276) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock | $78 | $300 |
| Proceeds from issuance of long-term debt | 450 | 100 |
| Payments on long-term debt | — | (260) |
| Issuance (maturities) of commercial paper, net | (146) | 68 |
| Dividends paid | (48) | (40) |
| Other | (7) | (6) |
| Net cash provided by financing activities | 327 | 162 |
| Change in cash and cash equivalents | 171 | (153) |
| Cash and cash equivalents, beginning of period | 5 | 165 |
| Cash and cash equivalents, end of period | $176 | $12 |
| Supplemental cash flow information is as follows: | ||
| Cash paid for interest, net of amounts capitalized | $26 | $22 |
| Cash paid for income taxes, net | 2 | 2 |
| See accompanying notes to condensed consolidated financial statements. | ||
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