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Equity
 3 Months Ended
Mar. 31, 2016
Equity

NOTE 5: EQUITY

 

PG&E Corporation’s and the Utility’s changes in equity for the three months ended March 31, 2016 were as follows:

 

 

PG&E Corporation

 

Utility

 

Total

 

Total

(in millions)

Equity

 

Shareholders' Equity

Balance at December 31, 2015

$

16,828 

 

$

17,060 

Comprehensive income

 

110 

 

 

108 

Equity contributions

 

- 

 

 

65 

Common stock issued

 

152 

 

 

- 

Share-based compensation

 

6 

 

 

- 

Common stock dividends declared

 

(229)

 

 

(179)

Preferred stock dividend requirement

 

- 

 

 

(3)

Preferred stock dividend requirement of subsidiary

 

(3)

 

 

- 

Balance at March 31, 2016

$

16,864 

 

$

17,051 

 

During the three months ended March 31, 2016, PG&E Corporation sold 1.3 million shares under the February 2015 equity distribution agreement for cash proceeds of $74 million, net of commissions paid of $1 million. As of March 31, 2016, the remaining gross sales available under this agreement were $350 million.

 

PG&E Corporation also issued common stock under the PG&E Corporation 401(k) plan, the Dividend Reinvestment and Stock Purchase Plan, and share-based compensation plans.  During the three months ended March 31, 2016, 2.3 million shares were issued for cash proceeds of $72 million under these plans.