XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.24.2

Equity (Notes) | 6 Months Ended
--- | ---
Jun. 30, 2024
Equity [Abstract] |
Equity | SHAREHOLDERS’ EQUITY The activity in equity during the three and six-month periods ended June 30, 2024 and 2023 was as follows (dollars in millions, except per share amounts):
| Common Stock |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  |  |  |  |
| Shares |  | Amount |  |  |  | Total |  |
Balances as of December 31, 2023 | 101,159,609 |  |  | $ | 1,750 |  |  | $ | (5) |  |  | $ | 1,574 |  |  | $ | 3,319 |  |  |  |
Issuances of shares pursuant to equity-based plans | 148,926 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |
Issuances of shares pursuant to equity agreements | 1,714,972 |  |  | 78 |  |  | — |  |  | — |  |  | 78 |  |  |  |
Dividends declared ($0.4750 per share) | — |  |  | — |  |  | — |  |  | (48) |  |  | (48) |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | 109 |  |  | 109 |  |  |  |
Other comprehensive income | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  |  |
Balances as of March 31, 2024 | 103,023,507 |  |  | $ | 1,828 |  |  | $ | (4) |  |  | $ | 1,635 |  |  | $ | 3,459 |  |  |  |
Issuances of shares pursuant to equity-based plans | 43,176 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  |  |
Stock-based compensation | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |  |  |  |
Dividends declared ($0.5000 per share) | — |  |  | — |  |  | — |  |  | (52) |  |  | (52) |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | 72 |  |  | 72 |  |  |  |
Balances as of June 30, 2024 | 103,066,683 |  |  | $ | 1,833 |  |  | $ | (4) |  |  | $ | 1,655 |  |  | $ | 3,484 |  |  |  |
Balances as of December 31, 2022 | 89,283,353 |  |  | $ | 1,249 |  |  | $ | (4) |  |  | $ | 1,534 |  |  | $ | 2,779 |  |  |  |
Issuances of shares pursuant to equity-based plans | 159,603 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |
Issuances of shares pursuant to equity agreements | 7,178,016 |  |  | 300 |  |  | — |  |  | — |  |  | 300 |  |  |  |
Stock-based compensation | — |  |  | (1) |  |  | — |  |  | — |  |  | (1) |  |  |  |
Dividends declared ($0.4525 per share) | — |  |  | — |  |  | — |  |  | (40) |  |  | (40) |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | 74 |  |  | 74 |  |  |  |
Balances as of March 31, 2023 | 96,620,972 |  |  | $ | 1,548 |  |  | $ | (4) |  |  | $ | 1,568 |  |  | $ | 3,112 |  |  |  |
Issuances of shares pursuant to equity-based plans | 30,245 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  |  |
Issuances of shares pursuant to equity agreements | 2,212,610 |  |  | 92 |  |  |  |  |  |  | 92 |  |  |  |
Stock-based compensation | — |  |  | 6 |  |  | — |  |  | — |  |  | 6 |  |  |  |
Other comprehensive income | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  |  |
Dividends declared ($0.4750 per share) | — |  |  | — |  |  | — |  |  | (51) |  |  | (51) |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | 39 |  |  | 39 |  |  |  |
Balances as of June 30, 2023 | 98,863,827 |  |  | $ | 1,647 |  |  | $ | (3) |  |  | $ | 1,556 |  |  | $ | 3,200 |  |  |  |
At-the-Market Offering Program—On April 28, 2023, PGE entered into an equity distribution agreement under which it could sell up to $300 million of its common stock through at the market offering programs. In 2023, pursuant to the terms of the equity distribution agreement, PGE entered into separate forward sale agreements with forward counterparties. In March 2024, the Company issued 1,714,972 shares pursuant to the agreements and received net proceeds of $78 million. In 2024, PGE entered into additional forward sale agreements with forward counterparties, exhausting the $300 million facility. As of June 30, 2024, these additional agreements were outstanding. The Company could have physically settled the remaining amount by delivering 5,139,501 shares in exchange for cash of $218 million as of June 30, 2024. Any proceeds from the issuances of common stock will be used for general corporate purposes and investments in renewables and non-emitting dispatchable capacity.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration