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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income (Loss) $ 2,256 $ 1,814 $ (88)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and decommissioning 3,738 3,856 3,403
Bad debt expense 636 143 154
Allowance for equity funds used during construction (179) (184) (133)
Deferred income taxes and tax credits, net (765) (452) 1,783
Reorganization items, net 0 0 (73)
Wildfire Fund expense 568 477 517
Disallowed capital expenditures 0 15 0
Other (116) 517 248
Effect of changes in operating assets and liabilities:      
Accounts receivable (369) (757) (589)
Wildfire-related insurance receivable 358 453 (723)
Inventories (28) (246) (32)
Accounts payable (90) 627 117
Wildfire-related claims (489) (810) 472
Other current assets and liabilities 397 17 244
Regulatory assets, liabilities, and balancing accounts, net (429) (1,131) (2,266)
Contributions to Wildfire fund (193) (193) (193)
Other noncurrent assets and liabilities (548) (425) (579)
Net cash provided by operating activities 4,747 3,721 2,262
Cash Flows from Investing Activities      
Capital expenditures (9,714) (9,584) (7,689)
Proceeds from sale of SFGO 0 0 749
Proceeds from sales and maturities of nuclear decommissioning trust investments 2,235 3,316 1,678
Purchases of nuclear decommissioning trust investments (2,252) (3,208) (1,702)
Proceeds from sales and maturities of customer credit trust investments 556 250 0
Purchases of customer credit trust investments 0 (1,022) 0
Other 13 34 59
Net cash used in investing activities (9,162) (10,214) (6,905)
Cash Flows from Financing Activities      
Borrowings under credit facilities 10,675 10,130 9,730
Repayments under credit facilities (10,540) (9,750) (9,976)
Proceeds from debtor-in-possession credit facility 2,100 0 0
Repayments of debtor-in-possession credit facility (2,181) 0 0
Credit facilities financing fees 0 0 (9)
Short-term debt financing, net of issuance costs of $0, $0, and $1 at respective dates 0 0 300
Short-term debt matured 0 (300) (1,450)
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $67, $29, and $33 at respective dates 5,483 4,271 4,624
Repayments of long-term debt (3,075) (5,968) (87)
Proceeds from DWR loan, net of performance based incentives earned of $0, $38, and $0 at respective dates 0 312 0
Proceeds from issuance of convertible notes, net of discount and issuance costs of $27, $0, and $0 at respective dates 2,123 0 0
Proceeds from sale of future revenue from transmission tower license sales, net of fees 0 0 370
Other (17) 53 (29)
Net cash provided by financing activities 4,400 7,133 4,323
Net change in cash, cash equivalents, and restricted cash (15) 640 (320)
Cash, cash equivalents, and restricted cash at January 1 947 307 627
Cash, cash equivalents, and restricted cash at September 30 932 947 307
Less: Restricted cash and restricted cash equivalents (297) (213) (16)
Cash and cash equivalents at September 30 635 734 291
Cash paid for:      
Interest, net of amounts capitalized (2,286) (1,607) (1,404)
Income taxes, net 0 0 99
Supplemental disclosures of noncash investing and financing activities      
Capital expenditures financed through accounts payable 1,105 1,174 1,311
Operating lease liabilities arising from obtaining right-of-use assets 269 529 100
Financing lease liabilities arising from obtaining right-of-use assets 52 0 0
Reclassification of operating lease liabilities to financing lease liabilities 913 0 0
DWR loan forgiveness and performance-based disbursements 214 0 0
Changes to PG&E Corporation common stock and treasury stock in connection with the Share Exchange and Tax Matters Agreement (2,517) (2,337) 4,854
Common stock dividends declared but not yet paid 21 0 0
Series 2022-A Recovery Bonds      
Cash Flows from Financing Activities      
Proceeds from issuance of SB 901 recovery bonds, net of financing fees of $0 and $36 at respective dates 0 972 850
Repayments of recovery bonds (38) (18) 0
SB 901 Securitization      
Cash Flows from Financing Activities      
Proceeds from issuance of SB 901 recovery bonds, net of financing fees of $0 and $36 at respective dates 0 7,464 0
Repayments of recovery bonds $ (130) $ (33) $ 0