XML 61 R33.htm IDEA: XBRL DOCUMENT v3.22.0.1
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
12 Months Ended
Dec. 31, 2021
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)202120202019
Administrative service revenue$118 $127 $138 
Operating expenses(124)(103)(114)
Interest income— — 
Interest expense(230)(149)(21)
Other income (expense)(54)13 10 
Reorganization items, net(1,649)(26)
Equity in earnings of subsidiaries137 411 (7,622)
Loss before income taxes(152)(1,350)(7,634)
Income tax provision (benefit)(64)(46)
Net loss$(88)$(1,304)$(7,642)
Other Comprehensive Income (Loss)   
Pension and other postretirement benefit plans obligations (net of taxes of $3, $7, and $0, at respective dates)
$$(17)$(1)
Total other comprehensive income (loss)(17)(1)
Comprehensive Loss$(81)$(1,321)$(7,643)
Weighted Average Common Shares Outstanding, Basic (1)
2,463 1,257 528 
Weighted Average Common Shares Outstanding, Diluted (1)
2,463 1,257 528 
Net loss per common share, basic$(0.05)$(1.05)$(14.50)
Net loss per common share, diluted$(0.05)$(1.05)$(14.50)
(1) Includes 477,743,590 shares of common stock issued to ShareCo.
PG&E CORPORATION
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED BALANCE SHEETS
 Balance at December 31,
(in millions)20212020
ASSETS  
Current Assets  
Cash and cash equivalents$126 $223 
Advances to affiliates21 48 
Income taxes receivable10 12 
Other current assets12 13 
Total current assets169 296 
Noncurrent Assets  
Equipment
Accumulated depreciation(2)(2)
Net equipment— — 
Investments in subsidiaries30,232 25,244 
Other investments181 186 
Operating lease right of use asset— 
Deferred income taxes297 237 
Total noncurrent assets30,710 25,670 
Total Assets$30,879 $25,966 
LIABILITIES AND SHAREHOLDERS’ EQUITY  
Current Liabilities  
Long-term debt, classified as current27 28 
Accounts payable – other200 49 
Operating lease liabilities— 
Other current liabilities69 72 
Total current liabilities296 152 
Noncurrent Liabilities  
Debtor-in-possession financing4,592 4,624 
Operating lease liabilities— — 
Other noncurrent liabilities168 191 
Total noncurrent liabilities4,760 4,815 
Common Shareholders’ Equity  
Common stock35,129 30,224 
Reinvested earnings(9,286)(9,198)
Accumulated other comprehensive loss(20)(27)
Total common shareholders’ equity25,823 20,999 
Total Liabilities and Shareholders’ Equity$30,879 $25,966 
PG&E CORPORATION
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED STATEMENTS OF CASH FLOWS
(in millions)
 Year ended December 31,
 202120202019
Cash Flows from Operating Activities:   
Net loss$(88)$(1,304)$(7,642)
Adjustments to reconcile net income to net cash provided by operating activities:   
Stock-based compensation amortization51 28 43 
Equity in earnings (loss) of subsidiaries(139)(412)7,622 
Deferred income taxes and tax credits-net(60)(50)— 
Reorganization items, net (Note 2) (32)1,548 11 
Current income taxes receivable/payable— 
Liabilities subject to compromise— 12 28 
Other81 97 (62)
Net cash provided by (used in) operating activities
(185)(81)6 
Cash Flows From Investing Activities:   
Investment in subsidiaries— (12,986)— 
Net cash used in investing activities
 (12,986) 
Cash Flows From Financing Activities:   
Debtor-in-possession credit facility debt issuance costs— — (16)
Bridge facility financing fees— (40)— 
Proceeds from issuance of long-term debt— 4,660 — 
Repayment of long-term debt(28)(664)— 
Intercompany note from the Utility145 — — 
Common stock issued— 7,582 85 
Equity Units issued— 1,304 — 
Other(29)— — 
Net cash provided by financing activities88 12,842 69 
Net change in cash and cash equivalents(97)(225)75 
Cash and cash equivalents at January 1223 448 373 
Cash and cash equivalents at December 31$126 $223 $448 
Supplemental disclosures of cash flow information   
Cash received (paid) for:   
Interest, net of amounts capitalized$(207)$(105)$(3)
Income taxes, net— — 
Supplemental disclosures of noncash investing and financing activities
Operating lease liabilities arising from obtaining ROU assets$— $— $
Common stock issued in satisfaction of liabilities— 8,276 — 
Increase to PG&E Corporation common stock and treasury stock in connection
    with the Share Exchange and Tax Matters Agreement
4,854 — —