Portland General Electric Co (POR) Financial Statements (2024 and earlier)

Company Profile

Business Address 121 SW SALMON ST
PORTLAND, OR 97204
State of Incorp. OR
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments19,00020,00030,00017,00017,00017,000
Cash and cash equivalents19,00020,00030,00017,00017,00017,000
Receivables310,000362,000529,000345,000289,000303,000
Inventory, net of allowances, customer advances and progress billings108,00095,00032,00091,00096,00072,000
Inventory108,00095,00032,00091,00096,00072,000
Regulatory asset88,00065,00054,00013,00016,00020,000
Other current assets157,000232,000498,000283,000310,000371,000
Other undisclosed current assets(6,000)(8,000)67,0001,00074,00093,000
Total current assets:676,000766,0001,210,000750,000802,000876,000
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   305,000   
Operating lease, right-of-use asset   22,000   
Property, plant and equipment13,436,00013,115,000 12,649,00012,445,00012,280,000
Intangible assets, net (including goodwill)   (499,000)   
Intangible assets, net (excluding goodwill)   (499,000)   
Derivative instruments and hedges   74,000   
Regulated entity, other noncurrent assets628,000519,000486,000545,000541,000535,000
Asset, held-in-trust36,00038,00038,00037,00038,00042,000
Other noncurrent assets189,000217,000234,000225,000238,000208,000
Other undisclosed noncurrent assets(4,595,000)(4,504,000)8,589,000(4,357,000)(4,281,000)(4,218,000)
Total noncurrent assets:9,694,0009,385,0009,249,0009,099,0008,981,0008,847,000
TOTAL ASSETS:10,370,00010,151,00010,459,0009,849,0009,783,0009,723,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:227,000242,000457,000287,000191,000169,000
Accounts payable227,000242,000 287,000191,000169,000
Accrued liabilities   168,000   
Other undisclosed accounts payable and accrued liabilities   289,000   
Debt160,00088,000280,00061,00021,00022,000
Derivative instruments and hedges, liabilities98,000100,000118,00068,00055,00060,000
Other liabilities276,000321,000641,000574,000653,000680,000
Total current liabilities:761,000751,0001,496,000990,000920,000931,000
Noncurrent Liabilities
Long-term debt and lease obligation3,778,0003,778,0003,680,0003,582,0003,583,0003,585,000
Long-term debt, excluding current maturities3,486,0003,485,0003,386,0003,286,0003,286,0003,286,000
Finance lease, liability292,000293,000294,000296,000297,000299,000
Liabilities, other than long-term debt1,745,0001,643,0002,504,0001,644,0001,661,0001,627,000
Asset retirement obligations   257,000   
Deferred income tax liabilities   439,000   
Liability, pension and other postretirement and postemployment benefits79,00081,000253,00091,00092,00093,000
Regulatory liability1,409,0001,398,0001,389,0001,402,0001,418,0001,379,000
Other liabilities98,00094,00091,00089,00084,00083,000
Derivative instruments and hedges, liabilities159,00070,00075,00062,00067,00072,000
Other undisclosed noncurrent liabilities886,000867,000 873,000881,000871,000
Total noncurrent liabilities:6,409,0006,288,0006,184,0006,099,0006,125,0006,083,000
Total liabilities:7,170,0007,039,0007,680,0007,089,0007,045,0007,014,000
Equity
Equity, attributable to parent3,200,0003,112,0002,779,0002,760,0002,738,0002,709,000
Common stock1,647,0001,548,0001,249,0001,245,0001,241,0001,236,000
Accumulated other comprehensive loss(3,000)(4,000)(4,000)(9,000)(9,000)(10,000)
Retained earnings1,556,0001,568,0001,534,0001,524,0001,506,0001,483,000
Total equity:3,200,0003,112,0002,779,0002,760,0002,738,0002,709,000
TOTAL LIABILITIES AND EQUITY:10,370,00010,151,00010,459,0009,849,0009,783,0009,723,000

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues648,000748,000687,000743,000591,000626,000
Cost of revenue(459,000)(414,000)(488,000)(552,000)(381,000)(305,000)
Gross profit:189,000334,000199,000191,000210,000321,000
Operating expenses(108,000)(217,000)(112,000)(99,000)(98,000)(215,000)
Operating income:81,000117,00087,00092,000112,000106,000
Nonoperating income9,00015,0008,00017,0003,0003,000
Public utilities, allowance for funds used during construction, capitalized cost of equity4,0003,0004,0004,0003,0003,000
Other nonoperating income5,00012,0004,00013,000  
Interest and debt expense(41,000)(44,000)(41,000)(39,000)(38,000)(38,000)
Income from continuing operations before income taxes:49,00088,00054,00070,00077,00071,000
Income tax expense(10,000)(14,000)(3,000)(12,000)(13,000)(11,000)
Income from continuing operations:39,00074,00051,00058,00064,00060,000
Income before gain (loss) on sale of properties:58,00064,00060,000
Net income available to common stockholders, diluted:39,00074,00051,00058,00064,00060,000

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:39,00074,00051,00058,00064,00060,000
Other undisclosed comprehensive income 1,000 5,000 1,000 
Comprehensive income, net of tax, attributable to parent:40,00074,00056,00058,00065,00060,000

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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