Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Reconciliation Of Changes In Plan Assets Benefit Obligations And Funded Status

Pension Plan

(in millions)	2014			2013
Change in plan assets:
Fair value of plan assets at beginning of year	$	12,527		$	12,141
Actual return on plan assets		1,946			673
Company contributions		332			323
Benefits and expenses paid		(589	)		(610	)
Fair value of plan assets at end of year	$	14,216		$	12,527

Change in benefit obligation:
Benefit obligation at beginning of year	$	14,077		$	15,541
Service cost for benefits earned		383			468
Interest cost		695			627
Actuarial (gain) loss		2,131			(1,950	)
Plan amendments		(1	)		-
Transitional costs		-			1
Benefits and expenses paid		(589	)		(610	)
Benefit obligation at end of year ⁽¹⁾	$	16,696		$	14,077

Funded Status:
Current liability	$	(6	)	$	(6	)
Noncurrent liability		(2,474	)		(1,544	)
Net liability at end of year	$	(2,480)		$	(1,550)

⁽¹⁾ PG&E Corporation's accumulated benefit obligation was $14.9 billion and $12.6 billion at December 31, 2014 and 2013, respectively.

Postretirement Benefits Other than Pensions

(in millions)	2014			2013
Change in plan assets:
Fair value of plan assets at beginning of year	$	1,892		$	1,758
Actual return on plan assets		241			64
Company contributions		57			145
Plan participant contribution		63			64
Benefits and expenses paid		(161	)		(139	)
Fair value of plan assets at end of year	$	2,092		$	1,892

Change in benefit obligation:
Benefit obligation at beginning of year	$	1,597		$	1,940
Service cost for benefits earned		45			53
Interest cost		76			74
Actuarial (gain) loss		166			(415	)
Benefits paid		(140	)		(123	)
Federal subsidy on benefits paid		4			4
Plan participant contributions		63			64
Benefit obligation at end of year	$	1,811		$	1,597

Funded Status: ⁽¹⁾
Noncurrent asset	$	368		$	352
Noncurrent liability		(87	)		(57	)
Net asset at end of year	$	281		$	295

⁽¹⁾ At December 31, 2014 and 2013, the postretirement medical plan was in an overfunded position and the postretirement life insurance plan was in an underfunded position.

Components Of Net Periodic Benefit Cost

Pension Plan

(in millions)	2014			2013			2012
Service cost	$	383		$	468		$	396
Interest cost		695			627			658
Expected return on plan assets		(807	)		(650	)		(598	)
Amortization of prior service cost		20			20			20
Amortization of net actuarial loss		2			111			123
Net periodic benefit cost		293			576			599
Less: transfer to regulatory account ⁽¹⁾		42			(238	)		(301	)
Total expense recognized	$	335		$	338		$	298

⁽¹⁾ The Utility recorded these amounts to a regulatory account as they are probable of recovery from customers in future rates.

Postretirement Benefits Other than Pensions

(in millions)	2014			2013			2012
Service cost	$	45		$	53		$	49
Interest cost		76			74			83
Expected return on plan assets		(103	)		(79	)		(77	)
Amortization of transition obligation		-			-			24
Amortization of prior service cost		23			23			25
Amortization of net actuarial loss		2			6			6
Net periodic benefit cost	$	43		$	77		$	110

Estimated Amortized Net Periodic Benefit For 2012


(in millions)	Pension Plan		PBOP Plans
Unrecognized prior service cost	$	15	$	19
Unrecognized net loss		11		4
Total	$	26	$	23

Schedule Of Assumptions Used In Calculating Projected Benefit Cost And Net Periodic Benefit Cost

	Pension Plan						PBOP Plans
	December 31,						December 31,
	2014		2013		2012		2014		2013		2012
Discount rate	4.00	%	4.89	%	3.98	%	3.89 - 4.09	%	4.70 - 5.00	%	3.75 - 4.08	%
Rate of future compensation
increases	4.00	%	4.00	%	4.00	%	-		-		-
Expected return on plan
assets	6.20	%	6.50	%	5.40	%	3.30 - 6.70	%	3.50 - 6.70	%	2.90 - 6.10	%

Schedule Of Assumed Health Care Cost Trend

	One-Percentage-Point		One-Percentage-Point
(in millions)	Increase		Decrease
Effect on postretirement benefit obligation	$	107	$	(108	)
Effect on service and interest cost		8		(8	)

Target Asset Allocation Percentages

	Pension Plan						PBOP Plans
	2015		2014		2013		2015		2014		2013
Global equity	25	%	25	%	25	%	31	%	30	%	28	%
Absolute return	5	%	5	%	5	%	3	%	3	%	4	%
Real assets	10	%	10	%	10	%	8	%	8	%	8	%
Fixed income	60	%	60	%	60	%	58	%	59	%	60	%
Total	100	%	100	%	100	%	100	%	100	%	100	%

Schedule Of Changes In Fair Value Of Plan Assets

	Fair Value Measurements
	At December 31,
	2014								2013
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Pension Plan:
Short-term investments	$	352	$	311	$	-	$	663	$	70	$	-	$	-	$	70
Global equity		918		2,311		-		3,229		1,123		2,363		-		3,486
Absolute return		-		-		577		577		-		-		554		554
Real assets		620		-		675		1,295		562		-		544		1,106
Fixed-income		2,068		5,718		638		8,424		1,448		5,104		625		7,177
Total	$	3,958	$	8,340	$	1,890	$	14,188	$	3,203	$	7,467	$	1,723	$	12,393
PBOP Plans:
Short-term investments	$	28	$	-	$	-	$	28	$	31	$	-	$	-	$	31
Global equity		124		549		-		673		127		504		-		631
Absolute return		-		-		55		55		-		-		53		53
Real assets		72		-		49		121		67		-		38		105
Fixed-income		163		1,055		1		1,219		137		936		2		1,075
Total	$	387	$	1,604	$	105	$	2,096	$	362	$	1,440	$	93	$	1,895
Total plan assets at fair value							$	16,284							$	14,288

Schedule Of Level 3 Reconciliation

	Pension Plan
(in millions)	Absolute		Fixed-
For the year ended December 31, 2014	Return		Income			Real Assets			Total
Balance at beginning of year	$	554	$	625		$	544		$	1,723
Actual return on plan assets:
Relating to assets still held at the reporting date		23		24			54			101
Relating to assets sold during the period		-		4			-			4
Purchases, issuances, sales, and settlements:
Purchases		-		1			78			79
Settlements		-		(16	)		(1	)		(17)
Balance at end of year	$	577	$	638		$	675		$	1,890

	Pension Plan
(in millions)	Absolute		Fixed-
For the year ended December 31, 2013	Return		Income			Real Assets			Total
Balance at beginning of year	$	513	$	611		$	285		$	1,409
Actual return on plan assets:
Relating to assets still held at the reporting date		37		1			49			87
Relating to assets sold during the period		4		-			(3	)		1
Purchases, issuances, sales, and settlements:
Purchases		-		20			352			372
Settlements		-		(7	)		(139	)		(146)
Balance at end of year	$	554	$	625		$	544		$	1,723

	PBOP Plans
(in millions)	Absolute			Fixed-
For the year ended December 31, 2014	Return			Income			Real Assets			Total
Balance at beginning of year	$	53		$	2			38		$	93
Actual return on plan assets:
Relating to assets still held at the reporting date		2			-			4			6
Relating to assets sold during the period		-			-			-			-
Purchases, issuances, sales, and settlements:
Purchases		-			-			7			7
Settlements		-			(1	)		-			(1)
Balance at end of year	$	55		$	1		$	49		$	105

	PBOP Plans
(in millions)	Absolute			Fixed-
For the year ended December 31, 2013	Return			Income			Real Assets			Total
Balance at beginning of year	$	49		$	1			28		$	78
Actual return on plan assets:
Relating to assets still held at the reporting date		4			-			3			7
Relating to assets sold during the period		-			-			-			-
Purchases, issuances, sales, and settlements:
Purchases		12			1			21			34
Settlements		(12	)		-			(14	)		(26)
Balance at end of year	$	53		$	2		$	38		$	93

Schedule Of Estimated Benefits Expected To Be Paid

	Pension		PBOP		Federal
(in millions)	Plan		Plans		Subsidy
2015	$	653	$	91	$	(7	)
2016		696		96		(8	)
2017		737		102		(8	)
2018		775		109		(9	)
2019		812		115		(10	)
Thereafter in the succeeding five years		4,545		614		(29	)