Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

NOTE 6: EARNINGS PER SHARE

PG&E Corporation's basic earnings per common share ("EPS") is calculated by dividing the income available for common shareholders by the weighted average number of common shares outstanding. PG&E Corporation applies the treasury stock method of reflecting the dilutive effect of outstanding share-based compensation in the calculation of diluted EPS. The following is a reconciliation of PG&E Corporation's income available for common shareholders and weighted average common shares outstanding for calculating diluted EPS:

	Three Months Ended
	March 31,
(in millions, except per share amounts)	2012		2011
Diluted
Income available for common shareholders	$	233	$	199
Weighted average common shares outstanding, basic		414		396
Add incremental shares from assumed conversions:
Employee share-based compensation		2		1
Weighted average common shares outstanding, diluted		416		397
Total earnings per common share, diluted	$	0.56	$	0.50

For each of the periods presented above, options and securities that were antidilutive were immaterial.

Pacific Gas And Electric Company [Member]

Earnings Per Share

NOTE 6: EARNINGS PER SHARE

PG&E Corporation's basic earnings per common share ("EPS") is calculated by dividing the income available for common shareholders by the weighted average number of common shares outstanding. PG&E Corporation applies the treasury stock method of reflecting the dilutive effect of outstanding share-based compensation in the calculation of diluted EPS. The following is a reconciliation of PG&E Corporation's income available for common shareholders and weighted average common shares outstanding for calculating diluted EPS:

	Three Months Ended
	March 31,
(in millions, except per share amounts)	2012		2011
Diluted
Income available for common shareholders	$	233	$	199
Weighted average common shares outstanding, basic		414		396
Add incremental shares from assumed conversions:
Employee share-based compensation		2		1
Weighted average common shares outstanding, diluted		416		397
Total earnings per common share, diluted	$	0.56	$	0.50

For each of the periods presented above, options and securities that were antidilutive were immaterial.