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Title
Balance Sheet

PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)

    As of December 31,
    2011  

2010

ASSETS  
Current assets:
Cash and cash equivalents $      6 $      4
Accounts receivable, net 144 137
Unbilled revenues 101 93
Inventories 71 56
Margin deposits 80 83
Regulatory assets - current 216 221
Other current assets 98 67
Total current assets 716 661
Electric utility plant, net 4,285 4,133
Regulatory assets - noncurrent 594 544
Nuclear decommissioning trust 37 34
Non-qualified benefit plan trust 36 44
Other noncurrent assets 65 75
Total assets $ 5,733 $ 5,491
LIABILITIES AND EQUITY  
Current liabilities:
Accounts payable $    111 $    102
Liabilities from price risk management
activities - current
216 188
Short-term debt 30 19
   Current portion of long-term debt   100   10
   Regulatory liabilities - current   6   25
   Accrued expenses and other current liabilities 151 145
Total current liabilities     614     489
Long-term debt, net of current portion   1,635   1,798
Regulatory liabilities - noncurrent 720 657
Deferred income taxes 529 445
Liabilities from price risk management
activities - noncurrent
172 188
Unfunded status of pension and
postretirement plans
  195   140
Non-qualified benefit plan liabilities   101   97
Other noncurrent liabilities 101 78
Total liabilities 4,067     3,892
Total equity 1,666 1,599
Total liabilities and equity $ 5,733 $ 5,491
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