ࡱ> ~ l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~7#܈ ~~4#܈ ~~3#܈ ~~8#܈ ~~<#܈ ~~83ffff̙̙3f3fff3f3f33333f33&Date of Report Date of earliest&Item 701 Regulation FD Disclosu Exhibit 991$"2017 Annual Operating Results!k>2017 Annual Operating (1)/MIncome Statementh Balance Sheetb|Balance Sheet (1)D Cash Flows&YSUPPLEMENTAL OPERATING STATISTI"SUPPLEMENTAL OPERATING (1)"SUPPLEMENTAL OPERATING (2) l  I  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } I"} <}       )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018KCDate of Report (Date of earliest event reported): February 16, 2018      ) !PORTLAND GENERAL ELECTRIC COMPANY. &(Exact name of registrant as specified in its charter)Oregon 001-5532-99 93-0256820$(State or other jurisdiction (Commission(I.R.S. Employerof incorporation) File Number)Identification No.)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4^SG;/#|a=+=PF0*8X> @2    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } } $ } 1      )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018+#Item 7.01 Regulation FD Disclosure.    (d)   Exhibits. fffffX@ 0 (Press Release issued by Portland General  1 )Electric Company dated February 16, 2018. X@ 0 (Portland General Electric Company Fourth.&Quarter 2017 Slides dated February 16,~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.sg[OCPvN=PF0*8X> @ l  "  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu2017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } } $ }       )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018 Exhibit 99.1    ! Portland General Electric   One World Trade Center   121 S.W. Salmon Street   Portland, Oregon 97204 News ReleaseFOR IMMEDIATE RELEASEFebruary 16, 2018Media Contact:Investor Contact: Steve Corson Chris Liddle Corporate CommunicationsInvestor RelationsPhone: 503-464-8444Phone: 503-464-7458$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D~rfZ6W3M)\=PF0*8X> @ l  A1<=  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } :} } $ } <} $ } } $ A     )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018%2017 Annual Operating Results       / 'Earnings Reconciliation of 2016 to 2017# ($ in millions, except EPS) Pre-Tax Income   Net Income *  Diluted EPS ***   Reported 2016~ ~  HzG@ Revenue   $Electric retail price change~ ~ {Gz%Electric retail volume change~ ~ Q?%Change in decoupling deferral~ *~ Q?2*Electric wholesale price and volume change~  ~ {Gz? Other Items~ "~ Q?Change in Revenue~ Z~ zG? Power Cost$Change in average power cost~ ~ ^?-%Change purchased power and generation~ ~  ףp= Change in Power Costs~ f~ >{Gz? O&M.&Generation, transmission, distribution~ ~ 333333ÿ"Administrative and general~ ~ )\( Change in O&M~ b~ p= ףп Other Items#Depreciation & amortization~ ~ {GzĿ AFDC Equity**~ ~  Other Items~ ~ QDp lymaUI*2? Production Tax Credits ~   {Gz 8!0Tax Reform: Net Deferred Tax Asset Remeasurement!~ !!!RQȿ!-"%Adjustment for effective vs statutory"~ """{Gz?"#tax rate$Change in Other Items~ $^$~ $:$$$% Reported 2017~ %F~ %%@&&&&,'$Non-GAAP Earnings Reconciliation for2(*the three and twelve months ended December)31, 2017#*($ in millions, except EPS)***4+,GAAP-based as reported for the twelve months~ ++@,ended December 31, 2017--%Exclusion of Tax Reform Remeasurement~ -F--RQ?-1.)Non-GAAP adjusted earnings for the twelve~ .2.RQ@&/months ended December 31, 2017000031+GAAP-based as reported for the three months~ 11Q?2ended December 31, 2017-3%Exclusion of Tax Reform Remeasurement~ 3F33RQ?304(Non-GAAP adjusted earnings for the three~ 44q= ףp?&5months ended December 31, 20176666870* After tax adjustments based on PGE?s statutory778tax rate of 39.5%49,** Statutory tax rate does not apply to AFDC999:equity4;,*** Some values may not foot due to rounding;;;<=$>____________________________1?)Created by Morningstar Document Research.Dr lwA-gOljMwk@0@(http://documentresearch.morningstar.com/H=PF0*8X> @ !@@??>>8877554444443322111111//......--,,++++++))((''%%%%%%     l  `L  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating ResultsIncome Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } U5}  } $} $ }  } $} $ }  }  $ } U} $} $ } U} $} $ } $} $      )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018%2017 Annual Operating Results                    Heating Degree-Days  Cooling Degree-Days ~  ~   15-Year Average ~  ~   15-Year Average  1st quarter~ !  ~   ~ .   ?   ?   ?   2nd quarter~    ~ N  ~    ~   ~ j  ~   3rd quarter~ :~ :~ : ~    ~  *~ > 4th quarter~ ^~ :~    ?    ?~   Total~ :G~ 7~ &B ~     ~  ~ ^4,Increase (decrease) from the 15-year average~ " %~  % ~    % ~  B %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 ymaUIqey=PF0*8X> @Z         l  ,$`e  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1) Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } 1} $ ,     )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018Income Statement                  Three Months Ended   Years Ended   December 31,   December 31, ~  ~  ~  ~   Revenues, net~   ~ 2  ~ f  ~  Operating expenses:    Purchased power and fuel~ V~ ~  B   ~   1)Generation, transmission and distribution~ *~ ^~    ~  z Administrative and other~ ~ ~  "  ~  %Depreciation and amortization~ b~ 6~  f  ~  %Taxes other than income taxes~ v~ z~    ~   Total operating expenses~ ^~ ~    ~  Income from operations~ ~ ~    ~  6Interest expense, net~ z~ z~    ~   Other income:   .&Allowance for equity funds used during~ ~  ~  2  ~  V construction!Miscellaneous income, net~ ~ ~    ~  Other income, net~ ~ ~  F  ~  Z"Income before income taxes~ J~ >~  F  ~   Income taxes~ ~ J~  Z  ~   Net income~ ~ ~    ~     DlznbVI`F~N !"#$%&'()*++ #Weighted-average shares outstanding       !(in thousands): "Basic~ "o""~ "~m""~ " o" " ~ " m"#Diluted~ #bq##~ #o##~ # bq# # ~ # zo#$Earnings per share:$$$$$ $ $  %Basic%Q?%%%(\?%%% @% % % \(\@%&Diluted&Q?&&&(\?&&& @& & & HzG@&'($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/B}b&WK?=PF0*8X> @W++**))&&&&&& && %%%%%% %% ###### ## """""" ""                                        l  1u{  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income StatementBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } 1} $ }  } $ 1     )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018 Balance Sheet         As of December 31, ~  ~  ASSETS    Current assets:   !Cash and cash equivalents~ ~  Accounts receivable, net~ ~ nUnbilled revenues~ ~ %Inventories, at average cost:Materials and supplies~ ~  Fuel~ j~ !Regulatory assets?current~ ~ Other current assets~ &~ 6Total current assets~ :~ >Electric utility plant: Generation~ H~ G Transmission~ ~ & Distribution~ ^7~ >4General~ ~  Intangible~ ~ ~ %Construction work-in-progress~ ~ V$Total electric utility plant~ ~ NDk l}qeYq2i ] HKH !"#$%&'()*+,-./0 1!)Accumulated depreciation and amortization~ !R!!~ !>!"##$Electric utility plant, net~ $Vi$$~ $d$%&&'Regulatory assets - noncurrent~ '''~ ''%(Nuclear decommissioning trust~ (((~ ((() Non-qualified benefit plan trust~ )))~ ))*Other noncurrent assets~ ***~ **+ Total assets~ +zz++~ +u+,-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@sg~F=PF0*8X> @00//..++**))((''$$!!    l  0k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance Sheet Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } :} $ 0     )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018 Balance Sheet          As of December 31, ~  ~  LIABILITIES AND EQUITY    Current liabilities:   Accounts payable~ ~ .&Liabilities from price risk management~ ~ activities?current)!Current portion of long-term debt ?~ Z6.Accrued expenses and other current liabilities~ ~ !Total current liabilities~ ~  .&Long-term debt, net of current portion~ %~ b")!Regulatory liabilities?noncurrent~ "~ Deferred income taxes~ ~ v 5-Unfunded status of pension and postretirement~ r~ f plans.&Liabilities from price risk management~ ^~ activities?noncurrent$Asset retirement obligations~ ~ .&Non-qualified benefit plan liabilities~ ~ $Other noncurrent liabilities~ ~ Total liabilities~ T~ P%Commitments and contingenciesD l}qeYUC%?h!}; !"#$%&'()*+,-./ Equity:   1!)Preferred stock, no par value, 30,000,000 !?!! !?!6".shares authorized; none issued and outstanding/#'Common stock, no par value, 160,000,000~ ###~ ##4$,shares authorized; 89,114,265 and 88,946,7048%0shares issued and outstanding as of December 31,#&2017 and 2016, respectively,'$Accumulated other comprehensive loss~ '''~ ''(Retained earnings~ (((~ (() Total equity~ )%))~ )$)$*Total liabilities and equity~ *zz**~ *u*+,$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$h,Vq5AuiA=PF0*8X> @r.//..--****))))((((''''####!!!!    l  OɰB  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1)!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } :}  $ O                                 )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018 Cash Flows              Years Ended December 31, ~  ~  ~ ~- %Cash flows from operating activities:       Net income~   ~   ~  .&Adjustments to reconcile net income to 2*net cash provided by operating activities:%Depreciation and amortization~ f~ ~   Deferred income taxes~ ~ ~   .&Allowance for equity funds used during~ ~ ~    construction1)Pension and other postretirement benefits~ b~ r~   2*Unrealized losses on non-qualified benefit~  ~ ~   plan trust assets.&Decoupling mechanism deferrals, net of~ ~ ~  :  amortization/'Other non-cash income and expenses, net~ v~ ~  Z #Changes in working capital: .&(Increase) in receivables and unbilled~ ~ ~   revenues.&(Increase) decrease in margin deposits~ ~ f~   4,Increase in payables and accrued liabilities~ ~ >~   ( Other working capital items, net~ ~ ~   D lth\Ne2`^cO ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? . &Contribution to non-qualified employee~   ~   ~  ! benefit trust" Other, net~ """~ """~ " " 1#)Net cash provided by operating activities~ #V ##~ ###~ # "# -$%Cash flows from investing activities:$$$$$ %Capital expenditures~ %%%~ %%%~ % % ,&$Purchases of nuclear decommissioning~ &&&~ &&&~ & & 'trust securities.(&Sales of nuclear decommissioning trust~ (V((~ (n((~ ( Z( ) securities1*)Distribution from nuclear decommissioning *?** *?**~ * *  +trust2,*Sales tax refund received - Tucannon River ,?,, ,?,,~ , ^, - Wind Farm. Other, net~ ...~ ... . ?. -/%Net cash used in investing activities~ ///~ ///~ / / 000000 -1%Cash flows from financing activities:11111 02(Proceeds from issuance of long-term debt~ 222~ 222~ 2 F2 "3Payments on long-term debt~ 333~ 333~ 3 3 04(Proceeds from issuances of common stock, 4?44 4?44~ 4 >4 5net of issuance costs,6$(Maturities) issuances of commercial 6?66~ 666~ 6 6 7 paper, net8Dividends paid~ 8*88~ 8J88~ 8 ~8  9Other~ 999~ 999~ 9 9 0:(Net cash (used in) provided by financing~ ::::~ :::~ : : ; activities8<0Increase (decrease) in cash and cash equivalents~ <<<~ < <<~ < < /='Cash and cash equivalents, beginning of~ ===~ ===~ = =  >year.?&Cash and cash equivalents, end of year~ ???~ ???~ ? ? DlhO8EL;z2+Q;DY@ A B C D E F G H I J K L M N @@@@@@ -A%Supplemental disclosures of cash flowAAAAA B information:CCash paid for:CCCCC ,D$Interest, net of amounts capitalized~ DDD~ DDD~ D D E Income taxes~ EJEE~ EBEE~ E E 4F,Non-cash investing and financing activities:FFFFF !GAccrued capital additions~ GGG~ GGG~ G G !HAccrued dividends payable~ H~HH~ HzHH~ H rH 2I*Assets obtained under leasing arrangements~ I^II~ I:II I ?I JK$L____________________________1M)Created by Morningstar Document Research.0N(http://documentresearch.morningstar.com/"1K3GU?d=PF0*8X> @vNN MM LL IIIIII HHHHHH GGGGGG EEEEEE DDDDDD ?????? ====== <<<<<< :::::: 999999 888888 666666 444444 333333 222222 ////// ...... ,,,,,, ****** (((((( &&&&&& %%%%%% ###### """"""                   l  3@  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash FlowsSUPPLEMENTAL OPERATING (1)SUPPLEMENTAL OPERATING (2)U } 6} $ 3     )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018)!SUPPLEMENTAL OPERATING STATISTICS                  Three Months Ended   Years Ended   December 31,   December 31, ~  ~  ~  ~ ' Revenues (dollars in millions):       Retail:    Residential~ ~ ~  &  ~  . Commercial~ ~ ~  v   ~  f  Industrial~ ~ ~  R  ~  BSubtotal~ r~ ~    ~  .&Other accrued (deferred) revenues, net~ ~ ~  *  ~  Total retail revenues~ ~~ ~    ~  Wholesale revenues~ j~ v~    ~   Other operating revenues~ *~ *~    ~  Total revenues~ ~ 2~  f  ~     5-Energy sold and delivered (MWh in thousands):   Retail energy sales:    Residential~  ~ Z ~  "{  ~  r Commercial~ .~ ~  Rl  ~  Rl Industrial~  ~  ~  -  ~  b.!Total retail energy sales~ G~ H~  n  ~   ( Direct access retail deliveries:   DIlui]QE8 ]]VPO h !"#$%&'()*+,-./012  Commercial~ ^  ~   ~    ~ 6 ! Industrial~ !!!~ !!!~ ! ! ! ~ ! !-"%Total direct access retail deliveries~ """~ "r""~ " " " ~ " "3#+Total retail energy sales and direct access~ # N##~ #*O##~ # 4# # ~ # n(#$ deliveries#%Wholesale energy deliveries~ %f %%~ %n %%~ % 1% % ~ % b4%'&Total energy sold and delivered~ &n[&&~ &Z&&~ & e& & ~ & \&'''''' ' ' +(#Average number of retail customers:((((( ( ( ) Residential))))~ ) .) ) ~ ) -)* Commercial****~ * * * ~ * r*+ Industrial++++~ + + + ~ + +, Direct access,,,,~ , , , ~ , ,-Total retail customers----~ - 5- - ~ - t4-./$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/* h^<&s\RF+=PF0*8X> @ a221100-- -- ,, ,, ++ ++ ** ** )) )) &&&&&& && %%%%%% %% ###### ## """""" "" !!!!!! !!                                      l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (2)U } }  } $ }  } $ }  } $ } U} $ } U} $ } $} $      )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/2018)!SUPPLEMENTAL OPERATING STATISTICS                Heating Degree-days  Cooling Degree-days ~ ~  Average ~ ~  Average  First quarter~ ! ~  ~ .   ?  ?  ?  Second quarter~   ~ N ~    ~  ~ j ~   Third quarter~ :~ :~ :~  ~  * ~  > Fourth Quarter~ ^~ :~  ?   ? ~     Year-to-date~ :G~ 7~ &B~   ~   ~  ^ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0Qui]QEGQ=PF0*8X> @Z          l  #  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? !Date of Report Date of earliest!Item 701 Regulation FD Disclosu Exhibit 9912017 Annual Operating Results2017 Annual Operating (1)Income Statement Balance SheetBalance Sheet (1) Cash Flows!SUPPLEMENTAL OPERATING STATISTISUPPLEMENTAL OPERATING (1)U } -}  } $ }  } $ }  }  $ } } $ #                                 )!PORTLAND GENERAL ELECTRIC CO /OR/ 8-K 02/16/20184,SUPPLEMENTAL OPERATING STATISTICS, continued              Three Months Ended   Years Ended   December 31,   December 31, ~  ~  ~  ~ - %Sources of energy (MWh in thousands):        Generation:  Thermal:   Natural gas~ #~  ~ Ra ~  Z  Coal~  ~ ~ B4 ~  6  Total thermal~ ./~ *~  ~  ^  Hydro~ ~ ~~  ~  v  Wind~ ~ ~  ~   Total generation~ Z;~ 6~  ~   Purchased power:   Term~ >~ ~ bp ~  l  Hydro~ ~ ~  ~    Wind~ ~ ~ " ~   Total purchased power~ ~ ~ B ~   Total system load~ jX~ V~ .Y ~  >R Less: wholesale sales~ ~ ~  ~   Retail load requirement~ K~ K~ J' ~   Dlj^RF:](Uq8 KH ! " $ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/ (=PF0*8X> @Z "" !!        Root Entry FBook  l  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}