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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Revenues    
Total operating revenues $ 4,716 $ 4,306
Operating Expenses    
Operating and maintenance 2,336 1,967
Wildfire-related claims, net of insurance recoveries 172 0
Wildfire Fund expense 119 0
Depreciation, amortization, and decommissioning 888 855
Total operating expenses 4,412 3,651
Operating Income 304 655
Interest income 2 16
Interest expense (408) (254)
Other income, net 127 97
Reorganization items, net 0 (176)
Income Before Income Taxes 25 338
Income tax benefit (98) (36)
Net Income 123 374
Preferred stock dividend requirement of subsidiary 3 3
Income Available for Common Shareholders $ 120 $ 371
Weighted Average Common Shares Outstanding, Basic (in shares) 1,985 529
Weighted Average Common Shares Outstanding, Diluted (in shares) 2,131 648
Net Earnings Per Common Share, Basic (in dollars per share) $ 0.06 $ 0.70
Net Earnings Per Common Share, Diluted (in dollars per share) $ 0.06 $ 0.57
Pacific Gas & Electric Co (Utility)    
Operating Revenues    
Total operating revenues $ 4,716 $ 4,306
Operating Expenses    
Operating and maintenance 2,331 1,965
Wildfire-related claims, net of insurance recoveries 172 0
Wildfire Fund expense 119 0
Depreciation, amortization, and decommissioning 888 855
Total operating expenses 4,407 3,649
Operating Income 309 657
Interest income 2 16
Interest expense (348) (252)
Other income, net 133 93
Reorganization items, net (2) (93)
Income Before Income Taxes 94 421
Income tax benefit (83) (30)
Net Income 177 451
Preferred stock dividend requirement of subsidiary 3 3
Income Available for Common Shareholders 174 448
Electric    
Operating Revenues    
Total operating revenues 3,395 3,040
Operating Expenses    
Cost of goods 590 545
Electric | Pacific Gas & Electric Co (Utility)    
Operating Revenues    
Total operating revenues 3,395 3,040
Operating Expenses    
Cost of goods 590 545
Natural gas    
Operating Revenues    
Total operating revenues 1,321 1,266
Operating Expenses    
Cost of goods 307 284
Natural gas | Pacific Gas & Electric Co (Utility)    
Operating Revenues    
Total operating revenues 1,321 1,266
Operating Expenses    
Cost of goods $ 307 $ 284