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SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
PG&E CORPORATION

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
 
Years Ended December 31,
(in millions, except per share amounts)
2018
 
2017
 
2016
Administrative service revenue
$
90

 
$
63

 
$
70

Operating expenses
(91
)
 
(5
)
 
(73
)
Interest income
2

 
1

 
1

Interest expense
(15
)
 
(11
)
 
(10
)
Other income (expense)
(2
)
 
4

 
2

Equity in earnings of subsidiaries
(6,832
)
 
1,667

 
1,388

Income before income taxes
(6,848
)
 
1,719

 
1,378

Income tax provision (benefit)
3

 
73

 
(15
)
Net income
$
(6,851
)
 
$
1,646

 
$
1,393

Other Comprehensive Income
 

 
 

 
 

Pension and other postretirement benefit plans obligations (net of taxes of $0, $0, and $1, at respective dates)
$
4

 
$
1

 
$
(2
)
Total other comprehensive income (loss)
4

 
1

 
(2
)
Comprehensive Income
$
(6,847
)
 
$
1,647

 
$
1,391

Weighted Average Common Shares Outstanding, Basic
517

 
512

 
499

Weighted Average Common Shares Outstanding, Diluted
517

 
513

 
501

Net earnings per common share, basic
$
(13.25
)
 
$
3.21

 
$
2.79

Net earnings per common share, diluted
$
(13.25
)
 
$
3.21

 
$
2.78

























PG&E CORPORATION

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED BALANCE SHEETS
 
Balance at December 31,
(in millions)
2018
 
2017
ASSETS
 

 
 

Current Assets
 

 
 

Cash and cash equivalents
$
373

 
$
2

Advances to affiliates
44

 
24

Income taxes receivable
18

 
27

Total current assets
435

 
53

Noncurrent Assets
 

 
 

Equipment
2

 
3

Accumulated depreciation
(2
)
 
(3
)
Net equipment
—

 
—

Investments in subsidiaries
12,722

 
19,514

Other investments
162

 
144

Intercompany receivable
—

 
72

Deferred income taxes
187

 
123

Total noncurrent assets
13,071

 
19,853

Total Assets
$
13,506

 
$
19,906

LIABILITIES AND SHAREHOLDERS’ EQUITY
 

 
 

Current Liabilities
 

 
 

Short-term borrowings
300

 
132

Long-term debt, classified as current
350

 
—

Accounts payable – other
16

 
6

Other
17

 
23

Total current liabilities
683

 
161

Noncurrent Liabilities
 

 
 

Long-term debt
—

 
350

Other
172

 
175

Total noncurrent liabilities
172

 
525

Common Shareholders’ Equity
 

 
 

Common stock
12,910

 
12,632

Reinvested earnings
(250
)
 
6,596

Accumulated other comprehensive income (loss)
(9
)
 
(8
)
Total common shareholders’ equity
12,651

 
19,220

Total Liabilities and Shareholders’ Equity
$
13,506

 
$
19,906


PG&E CORPORATION

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED STATEMENTS OF CASH FLOWS
(in millions)
 
Year ended December 31,
 
2018
 
2017
 
2016
Cash Flows from Operating Activities:
 

 
 

 
 

Net income
$
(6,851
)
 
$
1,646

 
$
1,393

Adjustments to reconcile net income to net cash provided by operating activities:
 

 
 

 
 

Stock-based compensation amortization
78

 
20

 
74

Equity in earnings of subsidiaries
6,833

 
(1,667
)
 
(1,388
)
Deferred income taxes and tax credits-net
(62
)
 
139

 
11

Current income taxes receivable/payable
9

 
(2
)
 
(1
)
Other
41

 
(75
)
 
(24
)
Net cash provided by operating activities
48

 
61

 
65

Cash Flows From Investing Activities:
 

 
 

 
 

Investment in subsidiaries
(45
)
 
(455
)
 
(835
)
Dividends received from subsidiaries (1)
—

 
784

 
911

Net cash provided by (used in) investing activities
(45
)
 
329

 
76

Cash Flows From Financing Activities:
 

 
 

 
 

Borrowings under revolving credit facility
425


—


—

Repayments under revolving credit facility
(125
)

—


—

Net issuances (repayments) of commercial paper, net of discount
    of $1 in 2017
(132
)

132


—

Short-term debt financing
350


—


—

Long-term debt matured or repurchased
(350
)

—


—

Common stock issued
200


395


822

Common stock dividends paid (2)
—


(1,021
)

(921
)
Net cash provided by (used in) financing activities
368

 
(494
)
 
(99
)
Net change in cash and cash equivalents
371

 
(104
)
 
42

Cash and cash equivalents at January 1
2

 
106

 
64

Cash and cash equivalents at December 31
$
373

 
$
2

 
$
106

Supplemental disclosure of cash flow information
 

 
 

 
 

Cash received (paid) for:
 

 
 

 
 

Interest, net of amounts capitalized
$
(13
)
 
$
(9
)
 
$
(9
)
Income taxes, net
10

 
—

 
(13
)
Supplemental disclosure of noncash investing and financing activities
 
 
 
 
 
Common stock dividends declared but not yet paid
$
—


$
—


$
248

Noncash common stock issuances
—


21


20

 
 
 
 
 
 
(1) Because of its nature as a holding company, PG&E Corporation classifies dividends received from subsidiaries as an investing cash flow. On December 20, 2017, the Board of Directors of the Utility suspended quarterly cash dividends on the Utility's common stock, beginning the fourth quarter of 2017.
(2) On December 20, 2017, the Board of Directors of PG&E Corporation suspended quarterly cash dividends on PG&E Corporation's common stock, beginning the fourth quarter of 2017. In July and October of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.53 per share.  In July and October of 2016 and January and April of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.49 per share.  In January and April of 2016, respectively, PG&E Corporation paid quarterly common stock dividends of $0.455 per share.