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	$236	$705
Restricted cash and restricted cash equivalents (includes $207 million and $263 million related to VIEs at respective dates)	221	272
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)	2,097	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	449	998
Total current assets	14,902	16,979
Property, Plant, and Equipment
Property, Plant, and Equipment	123,445	118,262
Construction work in progress	4,635	4,458
Financing lease ROU asset and other	7	814
Total property, plant, and equipment	128,087	123,534
Accumulated depreciation	(36,287)	(35,304)
Net property, plant, and equipment	91,800	88,230
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	496	519
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)	4,062	3,697
Total other noncurrent assets	29,259	28,057
TOTAL ASSETS	$135,961	$133,266

(Unaudited)
	Balance at
	June 30, 2025	December 31, 2024
LIABILITIES AND SHAREHOLDERS’ 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	2,661	2,745
Regulatory balancing accounts	2,516	3,169
Other	842	729
Operating lease liabilities	88	85
Financing lease liabilities	1	577
Interest payable (includes $65 million and $91 million related to VIEs at respective dates)	675	667
Wildfire-related claims	787	916
Other	3,056	3,331
Total current liabilities	15,793	15,888
Noncurrent Liabilities
Long-term debt (includes $10.2 billion and $10.1 billion related to VIEs at respective dates)	48,387	47,958
Regulatory liabilities	19,871	19,417
Pension and other postretirement benefits	757	741
Asset retirement obligations	5,499	5,444
Deferred income taxes	4,127	3,632
Operating lease liabilities	408	434
Financing lease liabilities	3	4
Other	4,626	4,198
Total noncurrent liabilities	83,678	81,828
Shareholders’ Equity
Preferred stock	258	258
Common stock, $5 par value, authorized 800,000,000 shares; 800,000,000 shares outstanding at respective dates	1,322	1,322
Additional paid-in capital	36,705	35,930
Reinvested earnings	(1,790)	(1,940)
Accumulated other comprehensive loss	(5)	(20)
Total shareholders’ equity	36,490	35,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$135,961	$133,266

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.