SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Administrative service revenue	$	127	$	138	$	90
Operating expenses	(103)		(114)		(91)
Interest income	—		1		2
Interest expense	(149)		(21)		(15)
Other income (expense)	13		10		(2)
Reorganization items, net	(1,649)		(26)		—
Equity in earnings of subsidiaries	411		(7,622)		(6,832)
Loss before income taxes	(1,350)		(7,634)		(6,848)
Income tax provision (benefit)	(46)		8		3
Net loss	$	(1,304)	$	(7,642)	$	(6,851)
Other Comprehensive Income (Loss)
Pension and other postretirement benefit plans obligations (net of taxes of $7, $0, and $2, at respective dates)	$	(17)	$	(1)	$	4
Total other comprehensive income (loss)	(17)		(1)		4
Comprehensive Loss	$	(1,321)	$	(7,643)	$	(6,847)
Weighted Average Common Shares Outstanding, Basic	1,257		528		517
Weighted Average Common Shares Outstanding, Diluted	1,257		528		513
Net loss per common share, basic	$	(1.05)	$	(14.50)	$	(13.25)
Net loss per common share, diluted	$	(1.05)	$	(14.50)	$	(13.25)

PG&E CORPORATION

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)

CONDENSED BALANCE SHEETS

	Balance at December 31,
(in millions)	2020		2019
ASSETS
Current Assets
Cash and cash equivalents	$	223	$	448
Advances to affiliates	48		120
Income taxes receivable	12		12
Other current assets	13		11
Total current assets	296		591
Noncurrent Assets
Equipment	2		2
Accumulated depreciation	(2)		(2)
Net equipment	—		—
Investments in subsidiaries	25,244		5,102
Other investments	186		173
Operating lease right of use asset	3		6
Deferred income taxes	237		187
Total noncurrent assets	25,670		5,468
Total Assets	$	25,966	$	6,059
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Long-term debt, classified as current	28		—
Accounts payable – other	49		47
Operating lease liabilities	3		3
Other current liabilities	72		3
Total current liabilities	152		53
Noncurrent Liabilities
Debtor-in-possession financing	4,624		—
Operating lease liabilities	—		3
Other noncurrent liabilities	191		58
Total noncurrent liabilities	4,815		61
Liabilities Subject to Compromise	—		810
Common Shareholders’ Equity
Common stock	30,224		13,038
Reinvested earnings	(9,198)		(7,893)
Accumulated other comprehensive income (loss)	(27)		(10)
Total common shareholders’ equity	20,999		5,135
Total Liabilities and Shareholders’ Equity	$	25,966	$	6,059

PG&E CORPORATION

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)

CONDENSED STATEMENTS OF CASH FLOWS

(in millions)

	Year ended December 31,
	2020		2019		2018
Cash Flows from Operating Activities:
Net loss	$	(1,304)	$	(7,642)	$	(6,851)
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation amortization	28		43		78
Equity in earnings of subsidiaries	(412)		7,622		6,833
Deferred income taxes and tax credits-net	(50)		—		(62)
Reorganization items, net (Note 2)	1,548		11		—
Current income taxes receivable/payable	—		6		9
Liabilities subject to compromise	12		28		—
Other	97		(62)		41
Net cash provided by (used in) operating activities	(81)		6		48
Cash Flows From Investing Activities:
Investment in subsidiaries	(12,986)		—		(45)
Net cash used in investing activities	(12,986)		—		(45)
Cash Flows From Financing Activities:
Debtor-in-possession credit facility debt issuance costs	—		(16)		—
Bridge facility financing fees	(40)		—		—
Borrowings under revolving credit facility	—		—		425
Repayments under revolving credit facility	—		—		(125)
Net repayments of commercial paper	—		—		(132)
Short-term debt financing	—		—		350
Proceeds from issuance of long-term debt	4,660		—		—
Repayment of long-term debt	(664)		—		(350)
Common stock issued	7,582		85		200
Equity Units issued	1,304		—		—
Net cash provided by financing activities	12,842		69		368
Net change in cash and cash equivalents	(225)		75		371
Cash and cash equivalents at January 1	448		373		2
Cash and cash equivalents at December 31	$	223	$	448	$	373
Supplemental disclosures of cash flow information
Cash received (paid) for:
Interest, net of amounts capitalized	$	(105)	$	(3)	$	(13)
Income taxes, net	—		—		10
Supplemental disclosures of noncash investing and financing activities
Operating lease liabilities arising from obtaining ROU assets	$	—	$	9	$	—
Common stock issued in satisfaction of liabilities	8,276		—		—