PACIFIC GAS & ELECTRIC Co

For the period ended Sep 30, 2025. Filed Oct 23, 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.

Sep 30, 2025 · Filed Oct 23, 2025

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

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Contents

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)
	Balance at
	September 30, 2025	December 31, 2024
ASSETS
Current Assets
Cash and cash equivalents	$253	$705
Restricted cash and restricted cash equivalents (includes $334 million and $263 million related to VIEs at respective dates)	367	272
Accounts receivable
Customers (net of allowance for doubtful accounts of $408 million and $418 million at respective dates) (includes $2.0 billion and $1.9 billion related to VIEs, net of allowance for doubtful accounts of $407 million and $418 million at respective dates)	2,343	2,220
Accrued unbilled revenue (includes $1.4 billion and $1.3 billion related to VIEs at respective dates)	1,633	1,487
Regulatory balancing accounts	4,827	7,227
Other (net of allowance for doubtful accounts of $82 million and $35 million at respective dates)	1,873	1,810
Regulatory assets	323	234
Inventories
Gas stored underground and fuel oil	74	52
Materials and supplies	689	768
Wildfire Fund asset	298	301
Wildfire self-insurance asset	1,000	905
Other	563	998
Total current assets	14,243	16,979
Property, Plant, and Equipment
Property, Plant, and Equipment	125,271	118,262
Construction work in progress	5,082	4,458
Financing lease ROU asset and other	8	814
Total property, plant, and equipment	130,361	123,534
Accumulated depreciation	(36,565)	(35,304)
Net property, plant, and equipment	93,796	88,230
Other Noncurrent Assets
Regulatory assets	16,283	15,561
Customer credit trust	902	377
Nuclear decommissioning trusts	4,190	3,833
Operating lease ROU asset	458	519
Wildfire Fund asset	3,807	4,070
Other (includes noncurrent accounts receivable of $71 million and $82 related to VIEs, net of noncurrent allowance for doubtful accounts of $15 million and $18 at respective dates)	4,254	3,697
Total other noncurrent assets	29,894	28,057
TOTAL ASSETS	$137,933	$133,266

(Unaudited)
	Balance at
	September 30, 2025	December 31, 2024
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings	$1,025	$1,523
Long-term debt, classified as current (includes $218 million and $222 million related to VIEs at respective dates)	2,769	2,146
Accounts payable
Trade creditors	3,016	2,745
Regulatory balancing accounts	2,561	3,169
Other	731	729
Operating lease liabilities	87	85
Financing lease liabilities	1	577
Interest payable (includes $156 million and $91 million related to VIEs at respective dates)	596	667
Wildfire-related claims	492	916
Other	3,663	3,331
Total current liabilities	14,941	15,888
Noncurrent Liabilities
Long-term debt (includes $11.8 billion and $10.1 billion related to VIEs at respective dates)	49,912	47,958
Regulatory liabilities	20,061	19,417
Pension and other postretirement benefits	768	741
Asset retirement obligations	5,354	5,444
Deferred income taxes	4,368	3,632
Operating lease liabilities	371	434
Financing lease liabilities	5	4
Other	4,811	4,198
Total noncurrent liabilities	85,650	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	37,225	35,930
Reinvested earnings	(1,455)	(1,940)
Accumulated other comprehensive loss	(8)	(20)
Total shareholders’ equity	37,342	35,550
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$137,933	$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.