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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating Revenues        
Total operating revenues $ 5,465 $ 4,882 $ 15,396 $ 13,721
Operating Expenses        
Operating and maintenance 2,795 2,290 7,714 6,398
Wildfire-related claims, net of recoveries 94 25 261 195
Wildfire Fund expense 162 120 399 293
Depreciation, amortization, and decommissioning 801 845 2,540 2,574
Total operating expenses 5,161 4,484 14,154 12,386
Operating Income 304 398 1,242 1,335
Interest income 0 5 17 33
Interest expense (399) (391) (1,205) (844)
Other income, net 132 102 387 299
Reorganization items, net 0 (137) (11) (1,937)
Income (Loss) Before Income Taxes 37 (23) 430 (1,114)
Income tax provision (benefit) 1,125 (109) 994 394
Net Income (Loss) (1,088) 86 (564) (1,508)
Preferred stock dividend requirement of subsidiary 3 3 10 10
Income (Loss) Attributable to Common Shareholders $ (1,091) $ 83 $ (574) $ (1,518)
Weighted Average Common Shares Outstanding, Basic (in shares) 1,985 1,967 1,985 1,012
Weighted Average Common Shares Outstanding, Diluted (in shares) 1,985 2,140 1,985 1,012
Net Income (Loss) Per Common Share, Basic (in dollars per share) $ (0.55) $ 0.04 $ (0.29) $ (1.50)
Net Income (Loss) Per Common Share, Diluted (in dollars per share) $ (0.55) $ 0.04 $ (0.29) $ (1.50)
Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues $ 5,465 $ 4,882 $ 15,396 $ 13,721
Operating Expenses        
Operating and maintenance 2,793 2,311 7,705 6,421
Wildfire-related claims, net of recoveries 94 25 261 195
Wildfire Fund expense 162 120 399 293
Depreciation, amortization, and decommissioning 801 845 2,540 2,574
Total operating expenses 5,159 4,505 14,145 12,409
Operating Income 306 377 1,251 1,312
Interest income 0 5 17 33
Interest expense (342) (323) (1,032) (764)
Other income, net 133 101 390 287
Reorganization items, net 0 (82) (12) (286)
Income (Loss) Before Income Taxes 97 78 614 582
Income tax provision (benefit) 1,139 (92) 1,039 434
Net Income (Loss) (1,042) 170 (425) 148
Preferred stock dividend requirement of subsidiary 3 3 10 10
Income (Loss) Attributable to Common Shareholders (1,045) 167 (435) 138
Electric        
Operating Revenues        
Total operating revenues 4,181 3,810 11,527 10,285
Operating Expenses        
Cost of goods 1,133 1,114 2,570 2,418
Electric | Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues 4,181 3,810 11,527 10,285
Operating Expenses        
Cost of goods 1,133 1,114 2,570 2,418
Natural gas        
Operating Revenues        
Total operating revenues 1,284 1,072 3,869 3,436
Operating Expenses        
Cost of goods 176 90 670 508
Natural gas | Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues 1,284 1,072 3,869 3,436
Operating Expenses        
Cost of goods $ 176 $ 90 $ 670 $ 508