PG&E Corp

For the period ended Jun 30, 2025. Filed Jul 31, 2025.

About this filing

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.

Jun 30, 2025 · Filed Jul 31, 2025

PCG$13.14+1.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)
	Balance at
	June 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$494	$940
Restricted cash and restricted cash equivalents (includes $207 million and $263 million related to VIEs at respective dates)	221	273
Accounts receivable
Customers (net of allowance for doubtful accounts of $404 million and $418 million at respective dates) (includes $1.7 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $404 million and $418 million at respective dates)	2,025	2,220
Accrued unbilled revenue (includes $1.6 billion and $1.3 billion related to VIEs at respective dates)	1,862	1,487
Regulatory balancing accounts	5,657	7,227
Other (net of allowance for doubtful accounts of $89 million and $35 million at respective dates)	2,095	1,810
Regulatory assets	302	234
Inventories
Gas stored underground and fuel oil	73	52
Materials and supplies	713	768
Wildfire Fund asset	298	301
Wildfire self-insurance asset	969	905
Other	452	999
Total current assets	15,161	17,216
Property, Plant, and Equipment
Property, Plant, and Equipment	123,445	118,262
Construction work in progress	4,636	4,458
Financing lease ROU asset and other	7	814
Total property, plant, and equipment	128,088	123,534
Accumulated depreciation	(36,288)	(35,305)
Net property, plant, and equipment	91,800	88,229
Other Noncurrent Assets
Regulatory assets	15,853	15,561
Customer credit trust	935	377
Nuclear decommissioning trusts	4,022	3,833
Operating lease ROU asset	500	524
Wildfire Fund asset	3,891	4,070
Other (includes noncurrent accounts receivable of $72 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $17 million and $18 at respective dates)	4,222	3,850
Total other noncurrent assets	29,423	28,215
TOTAL ASSETS	$136,384	$133,660

(Unaudited)
	Balance at
	June 30, 2025	December 31, 2024
LIABILITIES AND EQUITY
Current Liabilities
Short-term borrowings	$1,524	$1,523
Long-term debt, classified as current (includes $217 million and $222 million related to VIEs at respective dates)	3,643	2,146
Accounts payable
Trade creditors	2,663	2,748
Regulatory balancing accounts	2,516	3,169
Other	862	748
Operating lease liabilities	88	85
Financing lease liabilities	1	577
Interest payable (includes $65 million and $91 million related to VIEs at respective dates)	767	760
Wildfire-related claims	787	916
Other	3,334	3,658
Total current liabilities	16,185	16,330
Noncurrent Liabilities
Long-term debt (includes $10.2 billion and $10.1 billion related to VIEs at respective dates)	54,004	53,569
Regulatory liabilities	19,871	19,417
Pension and other postretirement benefits	824	808
Asset retirement obligations	5,499	5,444
Deferred income taxes	3,550	3,082
Operating lease liabilities	412	439
Financing lease liabilities	3	4
Other	4,598	4,166
Total noncurrent liabilities	88,761	86,929
Equity
Shareholders’ Equity
Mandatory convertible preferred stock	1,579	1,579
Common stock, no par value, authorized 3,600,000,000 and 3,600,000,000 shares at respective dates; 2,197,837,402 and 2,193,573,536 shares outstanding at respective dates	31,560	31,555
Reinvested earnings	(1,949)	(2,966)
Accumulated other comprehensive loss	(4)	(19)
Total shareholders’ equity	31,186	30,149
Noncontrolling Interest - Preferred Stock of Subsidiary	252	252
Total equity	31,438	30,401
TOTAL LIABILITIES AND EQUITY	$136,384	$133,660

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.