XML 152 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT
PG&E CORPORATION
(DEBTOR-IN-POSSESSION)
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
 Years Ended December 31,
(in millions, except per share amounts)201920182017
Administrative service revenue$138  $90  $63  
Operating expenses(114) (91) (5) 
Interest income1  2  1  
Interest expense(21) (15) (11) 
Other income (expense)10  (2) 4  
Reorganization items, net(26) —  —  
Equity in earnings of subsidiaries(7,622) (6,832) 1,667  
Income before income taxes(7,634) (6,848) 1,719  
Income tax provision (benefit)8  3  73  
Net income (loss)$(7,642) $(6,851) $1,646  
Other Comprehensive Income (Loss)   
Pension and other postretirement benefit plans obligations (net of taxes of $0, $0, and $0, at respective dates)
$(1) $4  $1  
Total other comprehensive income (loss)(1) 4  1  
Comprehensive Income (Loss)$(7,643) $(6,847) $1,647  
Weighted Average Common Shares Outstanding, Basic528  517  512  
Weighted Average Common Shares Outstanding, Diluted528  513  513  
Net earnings (loss) per common share, basic$(14.50) $(13.25) $3.21  
Net earnings (loss) per common share, diluted$(14.50) $(13.25) $3.21  
PG&E CORPORATION
(DEBTOR-IN-POSSESSION)
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED BALANCE SHEETS
 Balance at December 31,
(in millions)20192018
ASSETS  
Current Assets  
Cash and cash equivalents$448  $373  
Advances to affiliates120  44  
Income taxes receivable12  18  
Other current assets11  —  
Total current assets591  435  
Noncurrent Assets  
Equipment2  2  
Accumulated depreciation(2) (2) 
Net equipment—  —  
Investments in subsidiaries5,102  12,722  
Other investments173  162  
Intercompany receivable—  —  
Operating lease right of use asset6  —  
Deferred income taxes187  187  
Total noncurrent assets5,468  13,071  
Total Assets$6,059  $13,506  
LIABILITIES AND SHAREHOLDERS’ EQUITY  
Current Liabilities  
Short-term borrowings—  300  
Long-term debt, classified as current—  350  
Accounts payable – other47  16  
Operating lease liabilities3  —  
Other current liabilities3  17  
Total current liabilities53  683  
Noncurrent Liabilities  
Debtor-in-possession financing—  —  
Operating lease liabilities3  —  
Other noncurrent liabilities58  172  
Total noncurrent liabilities61  172  
Liabilities Subject to Compromise810  —  
Common Shareholders’ Equity  
Common stock13,038  12,910  
Reinvested earnings(7,893) (250) 
Accumulated other comprehensive income (loss)(10) (9) 
Total common shareholders’ equity5,135  12,651  
Total Liabilities and Shareholders’ Equity$6,059  $13,506  
PG&E CORPORATION
(DEBTOR-IN-POSSESSION)
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)
CONDENSED STATEMENTS OF CASH FLOWS
(in millions)
 Year ended December 31,
 201920182017
Cash Flows from Operating Activities:   
Net income (loss)$(7,642) $(6,851) $1,646  
Adjustments to reconcile net income to net cash provided by operating activities:   
Stock-based compensation amortization43  78  20  
Equity in earnings of subsidiaries7,622  6,833  (1,667) 
Deferred income taxes and tax credits-net—  (62) 139  
Reorganization items, net (Note 2) 11  —  —  
Current income taxes receivable/payable6  9  (2) 
Liabilities subject to compromise28  —  —  
Other(62) 41  (75) 
Net cash provided by operating activities
6  48  61  
Cash Flows From Investing Activities:   
Investment in subsidiaries—  (45) (455) 
Dividends received from subsidiaries (1)
—  —  784  
Net cash provided by (used in) investing activities
—  (45) 329  
Cash Flows From Financing Activities:   
Debtor-in-possession credit facility debt issuance costs(16) —  —  
Borrowings under revolving credit facility—  425  —  
Repayments under revolving credit facility—  (125) —  
Net issuances (repayments) of commercial paper, net of discount
    of $1 in 2017
—  (132) 132  
Short-term debt financing—  350  —  
Long-term debt matured or repurchased—  (350) —  
Common stock issued85  200  395  
Common stock dividends paid (2)
—  —  (1,021) 
Net cash provided by (used in) financing activities69  368  (494) 
Net change in cash and cash equivalents75  371  (104) 
Cash and cash equivalents at January 1373  2  106  
Cash and cash equivalents at December 31$448  $373  $2  
Supplemental disclosures of cash flow information   
Cash received (paid) for:   
Interest, net of amounts capitalized$(3) $(13) $(9) 
Income taxes, net—  10  —  
Supplemental disclosures of noncash investing and financing activities
Common stock dividends declared but not yet paid$—  $—  $—  
Noncash common stock issuances—  —  21  
Operating lease liabilities arising from obtaining ROU assets9  —  —  
(1) Because of its nature as a holding company, PG&E Corporation classifies dividends received from subsidiaries as an investing cash flow. On December 20, 2017, the Board of Directors of the Utility suspended quarterly cash dividends on the Utility's common stock, beginning the fourth quarter of 2017.
(2) On December 20, 2017, the Board of Directors of PG&E Corporation suspended quarterly cash dividends on PG&E Corporation's common stock, beginning the fourth quarter of 2017. In July and October of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.53 per share.  In January and April of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.49 per share.