0000000000-21-010530.txt : 20211006 0000000000-21-010530.hdr.sgml : 20211006 20210827153010 ACCESSION NUMBER: 0000000000-21-010530 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210827 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: PORTLAND GENERAL ELECTRIC CO /OR/ CENTRAL INDEX KEY: 0000784977 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 930256820 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 121 SW SALMON ST STREET 2: 1WTC0501 CITY: PORTLAND STATE: OR ZIP: 97204 BUSINESS PHONE: 5034648000 MAIL ADDRESS: STREET 1: 121 SW SALMON STREET CITY: PORTLAND STATE: OR ZIP: 97204 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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MAA\@+93AJ8&%4$IF0L/=QZF60@UA:7B6P21-BYV%*#,$;ESQ(WLE1@&SIUEH MF)DU5_UNP@C%53]?"UWLI?DU;&2D6L%4+JOJRL*&4.L+_)%OLC2.@U%9H=9/Q>:.^/M=5/V MP,2Q=[46#1#I2=UEF4R%$YK96[(ZP =([*F75M-4HN\<\7/[?P!H4IC+"F5N M9'-T8 %/F2VY<;8,YUV"-D.4?&+V1?$KR^3_ M69XR6 ^'7J!"UC>^X%1I(U^+C>LXOE2ALU[-?1T:YUNU=7[FH[OW3Z'*\-W\ M07IW3=SE$ET^"M?^L7G$FPS8S$#Z TSMB7L*96YD'0M <-2XT+C4* TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo August 27, 2021 James A. Ajello Chief Financial Officer Portland General Electric Company 121 SW Salmon Street Portland, Oregon 97204 Re: Portland General Electric Company Form 10-K for Fiscal Year Ended December 31, 2020 File No. 001-05532-99 Dear Mr. Ajello: We have reviewed your August 17, 2021 response to our comment letter and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our August 11, 2021 letter. Form 10-K for Fiscal Year Ended December 31, 2020 Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations, page 46 1. We note your response to our prior comment 1. As previously noted, pursuant to Item 10(e)(1)(i)(B) of Regulation S-K, reconciliation of non-GAAP measures should be to the most directly comparable measure calculated and presented in accordance with GAAP. For the non-GAAP gross margin measure you present, the most directly comparable GAAP-basis measure appears to be a fully burdened gross margin that includes depreciation and amortization and any other relevant cost of revenue items. Please revise your disclosure accordingly. In this connection, the illustrative example included in your response appears to provide a reconciliation of your non-GAAP gross margin measure to GAAP-basis revenue. James A. Ajello Portland General Electric Company August 27, 2021 Page 2 You may contact Jennifer O'Brien, Staff Accountant, at 202-551-3721 or Ethan Horowitz, Accounting Branch Chief, at 202-551-3311 if you have any questions. FirstName LastNameJames A. Ajello Sincerely, Comapany NamePortland General Electric Company Division of Corporation Finance August 27, 2021 Page 2 Office of Energy & Transportation FirstName LastName