Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share

NOTE 6: EARNINGS PER SHARE

PG&E Corporation's basic EPS is calculated by dividing the income available for common shareholders by the weighted average number of common shares outstanding.  PG&E Corporation applies the treasury stock method of reflecting the dilutive effect of outstanding share-based compensation in the calculation of diluted EPS.  The following is a reconciliation of PG&E Corporation's income available for common shareholders and weighted average common shares outstanding for calculating diluted EPS:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions, except per share amounts)	2013		2012		2013		2012
Income available for common shareholders	$	328	$	235	$	567	$	468
Weighted average common shares outstanding, basic		442		423		438		419
Add incremental shares from assumed conversions:
Employee share-based compensation		1		2		1		2
Weighted average common share outstanding, diluted		443		425		439		421
Total earnings per common share, diluted	$	0.74	$	0.55	$	1.29	$	1.11

For each of the periods presented above, the calculation of weighted average common shares outstanding on a diluted basis excluded an insignificant amount of options and securities that were antidilutive.