XML 64 R49.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Taxes [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense/(benefit) consists of the following (in millions):
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | 6 |  |  | $ | 9 |  |  | $ | 12 |
State and local | 17 |  |  | 12 |  |  | 22 |
| 23 |  |  | 21 |  |  | 34 |
Deferred: |  |  |  |  |
Federal | (22) |  |  | (2) |  |  | (15) |
State and local | (1) |  |  | 8 |  |  | (2) |
| (23) |  |  | 6 |  |  | (17) |
Income tax expense | $ | — |  |  | $ | 27 |  |  | $ | 17 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The significant differences between the U.S. Federal statutory rate and PGE’s Effective tax rate for financial reporting purposes are as follows:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Federal tax credits(1) | (20.5) |  |  | (13.4) |  |  | (16.7) |
State and local taxes, net of federal tax benefit(2) | 10.1 |  |  | 6.5 |  |  | 6.5 |
Flow through depreciation and cost basis differences | (4.9) |  |  | 1.5 |  |  | 1.5 |
Amortization of excess deferred income tax(3) | (4.7) |  |  | (3.7) |  |  | (4.1) |
Other | (1.0) |  |  | (0.7) |  |  | (0.8) |
Effective tax rate | — | % |  | 11.2 | % |  | 7.4 | %
(1) Federal tax credits consist primarily of production tax credits (PTCs) earned from Company-owned wind-powered generating facilities. The federal PTCs are earned based on a per-kilowatt hour rate, and as a result, the annual amount of PTCs earned will vary based on weather conditions and availability of the facilities. The PTCs are generated for 10 years from the corresponding facilities’ in-service dates. PGE’s PTC generation ended or will end at various dates between 2017 and 2030. (2) In 2019, Oregon enacted HB 3427, which imposed a new gross receipts tax on companies with annual revenues in excess of $1 million and applies to tax years beginning on or after January 1, 2020. The legislation defines that the tax applies to commercial activities sourced in Oregon, less certain deductions. The resulting amount is taxed at 0.57%. (3) The majority of excess deferred income taxes related to remeasurement under the TCJA is subject to IRS normalization rules and will be amortized over the remaining regulatory life of the assets using the average rate assumption method.
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income tax assets and liabilities consist of the following (in millions):
| As of December 31,
| 2020 |  | 2019
Deferred income tax assets: |  |  |
Employee benefits | $ | 136 |  |  | $ | 119 |
Price risk management | 29 |  |  | 26 |
Regulatory liabilities | 23 |  |  | 22 |
Tax credits | 77 |  |  | 64 |
Total deferred income tax assets | 265 |  |  | 231 |
Deferred income tax liabilities: |  |  |
Depreciation and amortization | 504 |  |  | 496 |
Regulatory assets | 128 |  |  | 103 |
Other | 7 |  |  | 10 |
Total deferred income tax liabilities | 639 |  |  | 609 |
Deferred income tax liability, net | $ | 374 |  |  | $ | 378 |

X
- Definition Income Taxes [Abstract] + References No definition available. + Details
Name: | por_IncomeTaxesAbstract
Namespace Prefix: | por_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration