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Balance Sheet Components (Notes) | 9 Months Ended
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Sep. 30, 2012
Balance Sheet Components Note [Abstract] |
BALANCE SHEET COMPONENTS | BALANCE SHEET COMPONENTS Accounts Receivable, Net Accounts receivable is net of an allowance for uncollectible accounts of $6 million as of September 30, 2012 and December 31, 2011. The activity in the allowance for uncollectible accounts is as follows (in millions):
| Nine Months Ended September 30,
| 2012 |  | 2011
Balance as of beginning of period | $ | 6 |  |  | $ | 5 |
Provision, net | 6 |  |  | 6 |
Amounts written off, less recoveries | (6 | ) |  | (6 | )
Balance as of end of period | $ | 6 |  |  | $ | 5 |
Inventories PGE inventories, which are recorded at average cost, consist primarily of materials and supplies for use in operations, maintenance, and capital activities and fuel for use in generating plants. Fuel inventories include natural gas, coal, and oil. Periodically, the Company assesses the realizability of inventory for purposes of determining that inventory is recorded at the lower of average cost or market. Electric Utility Plant, Net Electric utility plant, net consists of the following (in millions):
| September 30, 2012 |  | December 31, 2011
Electric utility plant | $ | 6,726 |  |  | $ | 6,596 |
Construction work in progress | 168 |  |  | 120 |
Total cost | 6,894 |  |  | 6,716 |
Less: accumulated depreciation and amortization | (2,543 | ) |  | (2,431 | )
Electric utility plant, net | $ | 4,351 |  |  | $ | 4,285 |
Accumulated depreciation and amortization in the table above includes accumulated amortization related to intangible assets of $169 million and $153 million as of September 30, 2012 and December 31, 2011, respectively. Amortization expense related to intangible assets was $5 million for the three months ended September 30, 2012 and 2011, and $17 million and $14 million for the nine months ended September 30, 2012 and 2011, respectively. In January 2012, PGE completed construction of a $10 million, 1.75 MW solar powered electric generating facility, which was sold to, and simultaneously leased-back from, a financial institution. The Company operates the facility and receives 100% of the power generated by the facility. Regulatory Assets and Liabilities Regulatory assets and liabilities consist of the following (in millions):
| September 30, 2012 |  | December 31, 2011
| Current |  | Noncurrent |  | Current |  | Noncurrent
Regulatory assets: |  |  |  |  |  |  |
Price risk management | $ | 142 |  |  | $ | 85 |  |  | $ | 194 |  |  | $ | 172 |
Pension and other postretirement plans | — |  |  | 280 |  |  | — |  |  | 295 |
Deferred income taxes | — |  |  | 78 |  |  | — |  |  | 87 |
Deferred broker settlements | 9 |  |  | 1 |  |  | 11 |  |  | — |
Debt reacquisition costs | — |  |  | 23 |  |  | — |  |  | 28 |
Other | 3 |  |  | 23 |  |  | 11 |  |  | 12 |
Total regulatory assets | $ | 154 |  |  | $ | 490 |  |  | $ | 216 |  |  | $ | 594 |
Regulatory liabilities: |  |  |  |  |  |  |
Asset retirement removal costs | $ | — |  |  | $ | 678 |  |  | $ | — |  |  | $ | 637 |
Asset retirement obligations | — |  |  | 39 |  |  | — |  |  | 36 |
Power cost adjustment mechanism | — |  |  | 6 |  |  | — |  |  | 10 |
Other | 4 |  |  | 37 |  |  | 6 |  |  | 37 |
Total regulatory liabilities | $ | 4 |  | (1) | $ | 760 |  |  | $ | 6 |  | (1) | $ | 720 |
(1) Included in Accrued expenses and other current liabilities in the condensed consolidated balance sheets. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following (in millions):
| September 30, 2012 |  | December 31, 2011
Accrued taxes payable | $ | 65 |  |  | $ | 22 |
Accrued employee compensation and benefits | 44 |  |  | 44 |
Accrued interest payable | 35 |  |  | 24 |
Accrued dividends payable | 21 |  |  | 21 |
Other | 60 |  |  | 46 |
Total accrued expenses and other current liabilities | $ | 225 |  |  | $ | 157 |
Credit Facilities PGE has the following unsecured revolving credit facilities as of September 30, 2012:
• | A $360 million syndicated credit facility, which is scheduled to terminate in July 2013; and
• | A $300 million syndicated credit facility, which is scheduled to terminate in December 2016.
Pursuant to the individual terms of the agreements, both credit facilities may be used for general corporate purposes and as backup for commercial paper borrowings, and also permit the issuance of standby letters of credit. PGE may borrow for one, two, three, or six months at a fixed interest rate established at the time of the borrowing, or at a variable interest rate for any period up to the then remaining term of the applicable credit facility. Both credit facilities require annual fees based on PGE’s unsecured credit ratings, and contain customary covenants and default provisions, including a requirement that limits consolidated indebtedness, as defined in the agreements, to 65% of total capitalization. As of September 30, 2012, PGE was in compliance with this requirement with a 50.3% debt to total capital ratio. The Company has a commercial paper program under which it may issue commercial paper for terms of up to 270 days, limited to the unused amount of credit under the credit facilities. Pursuant to an order issued by the Federal Energy Regulatory Commission (FERC), the Company is authorized to issue short-term debt up to $700 million through February 6, 2014. The authorization provides that if utility assets financed by unsecured debt are divested, then a proportionate share of the unsecured debt must also be divested. PGE classifies borrowings under the revolving credit facilities and outstanding commercial paper as Short-term debt on the condensed consolidated balance sheets. As of September 30, 2012, PGE had no borrowings or commercial paper outstanding, $61 million of letters of credit issued, and aggregate unused credit available of $599 million under the credit facilities. Long-term Debt In accordance with the terms of the debt agreement, PGE repaid on October 22, 2012 the 5.6675% Series of First Mortgage Bonds in the amount of $100 million. Pension and Other Postretirement Benefits Components of net periodic benefit cost are as follows for the three and nine months ended September 30 (in millions):
| Three Months Ended September 30,
| Defined Benefit Pension Plan |  | Other Postretirement Benefits |  | Non-Qualified Benefit Plans
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
Service cost | $ | 3 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Interest cost | 8 |  |  | 7 |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Expected return on plan assets | (10 | ) |  | (10 | ) |  | — |  |  | — |  |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 4 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost | $ | 5 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 1 |
| Nine Months Ended September 30,
| Defined Benefit Pension Plan |  | Other Postretirement Benefits |  | Non-Qualified Benefit Plans
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
Service cost | $ | 9 |  |  | $ | 9 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest cost | 24 |  |  | 21 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | 2 |
Expected return on plan assets | (30 | ) |  | (30 | ) |  | — |  |  | — |  |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 12 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost | $ | 15 |  |  | $ | 6 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 2 |

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