XML 28 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net Income (Loss) $ (564) $ (1,508)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and decommissioning 2,540 2,574
Bad debt expense 280 96
Allowance for equity funds used during construction (96) (43)
Deferred income taxes and tax credits, net 1,607 923
Reorganization items, net (Note 2) (71) 1,597
Wildfire Fund expense 399 293
Disallowed capital expenditures 0 16
Other 232 164
Effect of changes in operating assets and liabilities:    
Accounts receivable (158) (1,012)
Wildfire-related receivables (790) 1,657
Inventories (5) (12)
Accounts payable 242 465
Wildfire-related claims 508 (16,800)
Other current assets and liabilities (254) (1,557)
Regulatory assets, liabilities, and balancing accounts, net (1,174) (1,393)
Liabilities subject to compromise 0 413
Contributions to Wildfire Fund 0 (5,008)
Other noncurrent assets and liabilities (643) (84)
Net cash provided by (used in) operating activities 2,053 (19,219)
Cash Flows from Investing Activities    
Capital expenditures (5,468) (5,475)
Proceeds from sale of SFGO 749 0
Proceeds from sales and maturities of nuclear decommissioning trust investments 1,176 1,144
Purchases of nuclear decommissioning trust investments (1,187) (1,203)
Other 52 10
Net cash used in investing activities (4,678) (5,524)
Cash Flows from Financing Activities    
Proceeds from debtor-in-possession credit facility 0 500
Repayments of debtor-in-possession credit facility 0 (2,000)
Debtor-in-possession credit facility debt issuance costs 0 (3)
Bridge facility financing fees 0 (73)
Pre-petition long-term debt repaid 0 (750)
Borrowings under credit facilities 6,687 2,420
Repayments under credit facilities (7,772) (1,480)
Borrowings under term loan credit facilities 0 3,000
Credit facilities financing fees 0 (22)
Proceeds from issuance of long-term debt, net of discount and issuance costs of $47 and $178 at respective dates 3,171 13,497
Repayment of long-term debt (21) (7)
Proceeds from sale of future revenue from transmission tower license sales, net of fees 370 0
Exchanged debt financing fees 0 (103)
Common stock issued, net of issuance costs 0 7,582
Equity Units issued 0 1,304
Other (6) (20)
Net cash provided by financing activities 2,429 23,845
Net change in cash, cash equivalents, and restricted cash (196) (898)
Cash, cash equivalents, and restricted cash at January 1 627 1,577
Cash, cash equivalents, and restricted cash at September 30 431 679
Less: Restricted cash and restricted cash equivalents (11) (215)
Cash and cash equivalents 420 464
Cash received (paid) for:    
Interest, net of amounts capitalized (1,229) (1,372)
Income taxes, net 12 0
Supplemental disclosures of noncash investing and financing activities    
Capital expenditures financed through accounts payable 963 404
Operating lease liabilities arising from obtaining right-of-use assets 47 13
Common stock issued in satisfaction of liabilities 0 8,276
Increase to PG&E Corporation common stock and treasury stock in connection with the PG&E Fire Victim Trust Share Exchange and Tax Matters Agreement 4,854 0
Pacific Gas & Electric Co (Utility)    
Cash Flows from Operating Activities    
Net Income (Loss) (425) 148
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and decommissioning 2,540 2,574
Bad debt expense 280 96
Allowance for equity funds used during construction (96) (43)
Deferred income taxes and tax credits, net 1,651 961
Reorganization items, net (Note 2) (38) 3
Wildfire Fund expense 399 293
Disallowed capital expenditures 0 16
Other 180 141
Effect of changes in operating assets and liabilities:    
Accounts receivable (154) (987)
Wildfire-related receivables (790) 1,657
Inventories (5) (12)
Accounts payable 206 423
Wildfire-related claims 508 (16,800)
Other current assets and liabilities (220) (1,594)
Regulatory assets, liabilities, and balancing accounts, net (1,174) (1,393)
Liabilities subject to compromise 0 401
Contributions to Wildfire Fund 0 (5,008)
Other noncurrent assets and liabilities (642) (46)
Net cash provided by (used in) operating activities 2,220 (19,170)
Cash Flows from Investing Activities    
Capital expenditures (5,468) (5,475)
Proceeds from sale of SFGO 749 0
Proceeds from sales and maturities of nuclear decommissioning trust investments 1,176 1,144
Purchases of nuclear decommissioning trust investments (1,187) (1,203)
Intercompany note to PG&E Corporation (145) 0
Other 52 10
Net cash used in investing activities (4,823) (5,524)
Cash Flows from Financing Activities    
Proceeds from debtor-in-possession credit facility 0 500
Repayments of debtor-in-possession credit facility 0 (2,000)
Debtor-in-possession credit facility debt issuance costs 0 (3)
Bridge facility financing fees 0 (33)
Pre-petition long-term debt repaid 0 (100)
Borrowings under credit facilities 6,687 2,420
Repayments under credit facilities (7,772) (1,480)
Borrowings under term loan credit facilities 0 3,000
Credit facilities financing fees 0 (22)
Proceeds from issuance of long-term debt, net of discount and issuance costs of $47 and $178 at respective dates 3,171 8,837
Proceeds from sale of future revenue from transmission tower license sales, net of fees 370 0
Exchanged debt financing fees 0 (103)
Equity contribution from PG&E Corporation 0 12,986
Other 23 (20)
Net cash provided by financing activities 2,479 23,982
Net change in cash, cash equivalents, and restricted cash (124) (712)
Cash, cash equivalents, and restricted cash at January 1 404 1,129
Cash, cash equivalents, and restricted cash at September 30 280 417
Less: Restricted cash and restricted cash equivalents (11) (215)
Cash and cash equivalents 269 202
Cash received (paid) for:    
Interest, net of amounts capitalized (1,046) (1,305)
Income taxes, net 12 0
Supplemental disclosures of noncash investing and financing activities    
Capital expenditures financed through accounts payable 963 404
Operating lease liabilities arising from obtaining right-of-use assets 47 13
Common stock equity infusion from PG&E Corporation used to satisfy liabilities $ 0 $ 6,750