| Components of Net Periodic Benefit Cost |
The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2021 and 2020 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Benefits | | Three Months Ended September 30, | | (in millions) | 2021 | | 2020 | | 2021 | | 2020 | Service cost for benefits earned (1) | $ | 147 | | | $ | 133 | | | $ | 15 | | | $ | 15 | | | Interest cost | 161 | | | 178 | | | 13 | | | 16 | | | Expected return on plan assets | (261) | | | (261) | | | (33) | | | (34) | | | Amortization of prior service cost | (1) | | | (1) | | | 3 | | | 3 | | | Amortization of net actuarial loss | 1 | | | 1 | | | (8) | | | (5) | | | Net periodic benefit cost | 47 | | | 50 | | | (10) | | | (5) | | Regulatory account transfer (2) | 37 | | | 34 | | | — | | | — | | | Total | $ | 84 | | | $ | 84 | | | $ | (10) | | | $ | (5) | | | | | | | | | |
(1) A portion of service costs are capitalized pursuant to GAAP. (2) The Utility recorded these amounts to a regulatory account since they are probable of recovery from, or refund to, customers in future rates. | | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Benefits | | Nine Months Ended September 30, | | (in millions) | 2021 | | 2020 | | 2021 | | 2020 | Service cost for benefits earned (1) | $ | 440 | | | $ | 397 | | | $ | 47 | | | $ | 46 | | | Interest cost | 484 | | | 535 | | | 39 | | | 47 | | | Expected return on plan assets | (784) | | | (783) | | | (103) | | | (103) | | | Amortization of prior service cost | (4) | | | (4) | | | 10 | | | 10 | | | Amortization of net actuarial loss | 4 | | | 3 | | | (24) | | | (15) | | | Net periodic benefit cost | 140 | | | 148 | | | (31) | | | (15) | | Regulatory account transfer (2) | 111 | | | 102 | | | — | | | — | | | Total | $ | 251 | | | $ | 250 | | | $ | (31) | | | $ | (15) | | | | | | | | | |
(1) A portion of service costs are capitalized pursuant to GAAP. (2) The Utility recorded these amounts to a regulatory account since they are probable of recovery from, or refund to, customers in future rates.
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| Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) |
The changes, net of income tax, in PG&E Corporation’s accumulated other comprehensive income (loss) consisted of the following: | | | | | | | | | | | | | | | | | | | Pension
Benefits | | Other
Benefits | | Total | | (in millions, net of income tax) | Three Months Ended September 30, 2021 | | Beginning balance | $ | (38) | | | $ | 17 | | | $ | (21) | | Amounts reclassified from other comprehensive income: (1) | | | | | | Amortization of prior service cost (net of taxes of $0 and $1, respectively) | (1) | | | 2 | | | 1 | | Amortization of net actuarial loss (net of taxes of $0 and $3, respectively) | 1 | | | (5) | | | (4) | | Regulatory account transfer (net of taxes of $1 and $2, respectively) | 1 | | | 3 | | | 4 | | | Net current period other comprehensive gain (loss) | 1 | | | — | | | 1 | | | Ending balance | $ | (37) | | | $ | 17 | | | $ | (20) | | | | | | | |
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.) | | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Benefits | | Total | | (in millions, net of income tax) | Three Months Ended September 30, 2020 | | Beginning balance | $ | (22) | | | $ | 17 | | | $ | (5) | | Amounts reclassified from other comprehensive income: (1) | | | | | | Amortization of prior service cost (net of taxes of $0 and $1, respectively) | (1) | | | 2 | | | 1 | | Amortization of net actuarial loss (net of taxes of $0 and $1, respectively) | 1 | | | (4) | | | (3) | | Regulatory account transfer (net of taxes of $1 and $0, respectively) | — | | | 2 | | | 2 | | | Net current period other comprehensive gain (loss) | — | | | — | | | — | | | Ending balance | $ | (22) | | | $ | 17 | | | $ | (5) | | | | | | | |
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
| | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Benefits | | Total | | (in millions, net of income tax) | Nine Months Ended September 30, 2021 | | Beginning balance | $ | (39) | | | $ | 17 | | | $ | (22) | | Amounts reclassified from other comprehensive income: (1) | | | | | | Amortization of prior service cost (net of taxes of $1 and $3, respectively) | (3) | | | 7 | | | 4 | | Amortization of net actuarial loss (net of taxes of $1 and $7, respectively) | 3 | | | (17) | | | (14) | | Regulatory account transfer (net of taxes of $1 and $4, respectively) | 2 | | | 10 | | | 12 | | | Net current period other comprehensive gain (loss) | 2 | | | — | | | 2 | | | Ending balance | $ | (37) | | | $ | 17 | | | $ | (20) | | | | | | | |
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
| | | | | | | | | | | | | | | | | | | Pension Benefits | | Other Benefits | | Total | | (in millions, net of income tax) | Nine Months Ended September 30, 2020 | | Beginning balance | $ | (22) | | | $ | 17 | | | $ | (5) | | Amounts reclassified from other comprehensive income: (1) | | | | | | Amortization of prior service cost (net of taxes of $1 and $3, respectively) | (3) | | | 7 | | | 4 | | Amortization of net actuarial loss (net of taxes of $1 and $4, respectively) | 2 | | | (11) | | | (9) | | Regulatory account transfer (net of taxes of $1 and $1, respectively) | 1 | | | 4 | | | 5 | | | Net current period other comprehensive gain (loss) | — | | | — | | | — | | | Ending balance | $ | (22) | | | $ | 17 | | | $ | (5) | | | | | | | |
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
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| Summary of Revenues Disaggregated by Type of Customer |
The following table presents the Utility’s revenues disaggregated by type of customer: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (in millions) | 2021 | | 2020 | | 2021 | | 2020 | | Electric | | | | | | | | | Revenue from contracts with customers | | | | | | | | | Residential | $ | 1,962 | | | $ | 1,862 | | | $ | 4,778 | | | $ | 4,092 | | | Commercial | 1,580 | | | 1,455 | | | 3,776 | | | 3,537 | | | Industrial | 467 | | | 453 | | | 1,099 | | | 1,135 | | | Agricultural | 655 | | | 657 | | | 1,238 | | | 1,149 | | | Public street and highway lighting | 18 | | | 17 | | | 53 | | | 51 | | Other (1) | (52) | | | (148) | | | 169 | | | 54 | | | Total revenue from contracts with customers - electric | 4,630 | | | 4,296 | | | 11,113 | | | 10,018 | | Regulatory balancing accounts (2) | (449) | | | (486) | | | 414 | | | 267 | | | Total electric operating revenue | $ | 4,181 | | | $ | 3,810 | | | $ | 11,527 | | | $ | 10,285 | | | | | | | | | | | Natural gas | | | | | | | | | Revenue from contracts with customers | | | | | | | | | Residential | $ | 295 | | | $ | 303 | | | $ | 1,921 | | | $ | 1,795 | | | Commercial | 102 | | | 90 | | | 486 | | | 434 | | | Transportation service only | 323 | | | 259 | | | 995 | | | 902 | | Other (1) | 16 | | | 27 | | | (168) | | | (153) | | | Total revenue from contracts with customers - gas | 736 | | | 679 | | | 3,234 | | | 2,978 | | Regulatory balancing accounts (2) | 548 | | | 393 | | | 635 | | | 458 | | | Total natural gas operating revenue | $ | 1,284 | | | $ | 1,072 | | | $ | 3,869 | | | $ | 3,436 | | | Total operating revenues | $ | 5,465 | | | $ | 4,882 | | | $ | 15,396 | | | $ | 13,721 | | | | | | | | | |
(1) This activity is primarily related to the change in unbilled revenue and amounts subject to refund, partially offset by other miscellaneous revenue items. (2) These amounts represent revenues authorized to be billed or refunded to customers.
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