XML 38 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net Income (Loss) $ 1,814 $ (88) $ (1,304)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and decommissioning 3,856 3,403 3,468
Bad debt expense 143 154 150
Allowance for equity funds used during construction (184) (133) (140)
Deferred income taxes and tax credits, net (452) 1,783 1,097
Reorganization items, net 0 (73) 1,458
Wildfire Fund expense 477 517 413
Disallowed capital expenditures 15 0 17
Other 517 248 249
Effect of changes in operating assets and liabilities:      
Accounts receivable (757) (589) (1,182)
Wildfire-related insurance receivable 453 (723) 1,564
Inventories (246) (32) 6
Accounts payable 627 117 58
Wildfire-related claims (810) 472 (16,525)
Other current assets and liabilities 17 244 (1,079)
Regulatory assets, liabilities, and balancing accounts, net (1,131) (2,266) (2,451)
Liabilities subject to compromise 0 0 413
Contributions to Wildfire fund (193) (193) (5,200)
Other noncurrent assets and liabilities (425) (579) (142)
Net cash provided by operating activities 3,721 2,262 (19,130)
Cash Flows from Investing Activities      
Capital expenditures (9,584) (7,689) (7,690)
Proceeds from sale of SFGO 0 749 0
Proceeds from sales and maturities of nuclear decommissioning trust investments 3,316 1,678 1,518
Purchases of nuclear decommissioning trust investments (3,208) (1,702) (1,590)
Proceeds from sales and maturities of customer credit trust investments 250 0 0
Purchases of customer credit trust investments (1,022) 0 0
Other 34 59 14
Net cash used in investing activities (10,214) (6,905) (7,748)
Cash Flows from Financing Activities      
Proceeds from debtor-in-possession credit facility 0 0 500
Repayments of debtor-in-possession credit facility 0 0 (2,000)
Debtor-in-possession credit facility debt issuance costs 0 0 (6)
Bridge facility financing fees 0 0 (73)
Borrowings under credit facilities 10,130 9,730 8,554
Repayments under credit facilities (9,750) (9,976) (3,949)
Credit facilities financing fees 0 (9) (22)
Short-term debt financing, net of issuance costs of $0, $1, and $2 at respective dates 0 300 1,448
Short-term debt matured (300) (1,450) 0
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $29, $33, and $178 at respective dates 4,271 4,624 13,497
Repayment of long-term debt (5,968) (87) (764)
Proceeds from DWR loan, net of performance based incentives earned of $38, $0, and $0 at respective dates 312 0 0
Proceeds from sale of future revenue from transmission tower license sales, net of fees 0 370 0
Exchanged debt financing fees 0 0 (103)
Common stock issued 0 0 7,582
Equity Units issued 0 0 1,304
Other 53 (29) (40)
Net cash provided by financing activities 7,133 4,323 25,928
Net change in cash, cash equivalents, and restricted cash 640 (320) (950)
Cash, cash equivalents, and restricted cash at January 1 307 627 1,577
Cash, cash equivalents, and restricted cash at December 31 947 307 627
Less: Restricted cash and restricted cash equivalents (213) (16) (143)
Cash and cash equivalents at December 31 734 291 484
Cash received (paid) for:      
Interest, net of amounts capitalized (1,607) (1,404) (1,563)
Income taxes, net 0 99 0
Supplemental disclosures of noncash investing and financing activities      
Capital expenditures financed through accounts payable 1,174 1,311 515
Operating lease liabilities arising from obtaining ROU assets 529 100 13
Common stock issued in satisfaction of liabilities 0 0 8,276
Increase to PG&E Corporation common stock and treasury stock in connection with the Share Exchange and Tax Matters Agreement (2,337) 4,854 0
SB 901 Securitization      
Cash Flows from Financing Activities      
Proceeds from issuance of recovery bonds 7,464 0 0
Repayments of recovery bonds (33) 0 0
Series 2022-A Recovery Bonds      
Cash Flows from Financing Activities      
Proceeds from issuance of recovery bonds 972 850 0
Repayments of recovery bonds $ (18) $ 0 $ 0