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Equity
3 Months Ended
Mar. 31, 2012
Equity

NOTE 5: EQUITY

PG&E Corporation's and the Utility's changes in equity for the three months ended March 31, 2012 were as follows:

 

     PG&E Corporation     Utility  
(in millions)    Total
Equity
    Total
Shareholders'  Equity
 

Balance at December 31, 2011

     $ 12,353       $ 12,384  

Comprehensive income

     246       241  

Common stock issued

     393       -   

Share-based compensation expense

     16       -   

Common stock dividends declared

     (193     (179

Preferred stock dividend requirement

     -        (3

Preferred stock dividend requirement of subsidiary

     (3     -   

Equity contributions

     -        385  
  

 

 

   

 

 

 

Balance at March 31, 2012

     $ 12,812       $ 12,828  
  

 

 

   

 

 

 

During the three months ended March 31, 2012, PG&E Corporation issued 3,363,617 shares of its common stock under the Equity Distribution Agreement executed in November 2011, its 401(k) plan, its Dividend Reinvestment and Stock Purchase Plan, and upon exercises of employee stock options for total cash proceeds of $133 million, net of fees and commissions of $1 million. At March 31, 2012, PG&E Corporation had the ability to issue an additional $219 million of its common stock under the Equity Distribution Agreement.

On March 20, 2012, PG&E Corporation sold 5,900,000 shares of its common stock in an underwritten public offering for cash proceeds of $254 million, net of fees and commissions.

During the three months ended March 31, 2012, PG&E Corporation contributed equity of $385 million to the Utility to maintain its CPUC-authorized capital structure, which consists of 52% common equity and 48% debt and preferred stock.

Pacific Gas And Electric Company [Member]
 
Equity

NOTE 5: EQUITY

PG&E Corporation's and the Utility's changes in equity for the three months ended March 31, 2012 were as follows:

 

     PG&E Corporation     Utility  
(in millions)    Total
Equity
    Total
Shareholders'  Equity
 

Balance at December 31, 2011

     $ 12,353       $ 12,384  

Comprehensive income

     246       241  

Common stock issued

     393       -   

Share-based compensation expense

     16       -   

Common stock dividends declared

     (193     (179

Preferred stock dividend requirement

     -        (3

Preferred stock dividend requirement of subsidiary

     (3     -   

Equity contributions

     -        385  
  

 

 

   

 

 

 

Balance at March 31, 2012

     $ 12,812       $ 12,828  
  

 

 

   

 

 

 

During the three months ended March 31, 2012, PG&E Corporation issued 3,363,617 shares of its common stock under the Equity Distribution Agreement executed in November 2011, its 401(k) plan, its Dividend Reinvestment and Stock Purchase Plan, and upon exercises of employee stock options for total cash proceeds of $133 million, net of fees and commissions of $1 million. At March 31, 2012, PG&E Corporation had the ability to issue an additional $219 million of its common stock under the Equity Distribution Agreement.

On March 20, 2012, PG&E Corporation sold 5,900,000 shares of its common stock in an underwritten public offering for cash proceeds of $254 million, net of fees and commissions.

During the three months ended March 31, 2012, PG&E Corporation contributed equity of $385 million to the Utility to maintain its CPUC-authorized capital structure, which consists of 52% common equity and 48% debt and preferred stock.