BANKRUPTCY FILING (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Liabilities Subject to Compromise

Liabilities subject to compromise as of December 31, 2019 which were settled or reclassified during the six months ended June 30, 2020 consist of the following:


(in millions)	Utility		PG&E Corporation⁽¹⁾		December 31, 2019 PG&E Corporation Consolidated		Change in Estimated Allowed Claim 2020 ⁽²⁾		Cash Payment		Reclassified ⁽³⁾		Utility		PG&E Corporation⁽¹⁾		June 30, 2020 PG&E Corporation Consolidated
Financing debt	$	22,450	$	666	$	23,116	$	351	$	—	$	(23,467)	$	—	$	—	$	—
Wildfire-related claims	25,548		—		25,548		18		(23)		(25,543)		—		—		—
Trade creditors ⁽⁴⁾	1,183		5		1,188		6		(14)		(1,180)		—		—		—
Non-qualified benefit plan	20		137		157		—		—		(157)		—		—		—
2001 bankruptcy disputed claims	234		—		234		4		—		(238)		—		—		—
Customer deposits & advances	71		—		71		12		—		(83)		—		—		—
Other	230		2		232		59		—		(291)		—		—		—
Total Liabilities Subject to Compromise	$	49,736	$	810	$	50,546	$	450	$	(37)	$	(50,959)	$	—	$	—	$	—

⁽¹⁾PG&E Corporation amounts reflected under the column “PG&E Corporation” exclude the accounts of the Utility.

⁽²⁾Change in estimated allowed claim amounts are primarily due to interest accruals with the exception of the “wildfire-related claims”, “customer deposits & advances”, and “other” line items which are mainly due to the adjustment to recorded liabilities.

⁽³⁾Amounts reclassified included $8.6 million to Accounts payable - other, $237.6 million to Disputed claims and customer refunds, $1,347.4 million to Interest payable, $21,425.7 million to Long-term debt, $300.0 million to Short-term borrowings, $450.0 million to Long-term debt, classified as current, $301.0 million to Other current liabilities, $97.9 million to Other non-current liabilities, $121.3 million to Pension and other post-retirement benefits, $1,126.9 million to Accounts payable - trade creditors, and $25,542.7 million to Wildfire-related claims on the Condensed Consolidated Balance Sheets.

⁽⁴⁾As of July 24, 2020, $0.4 million and $290 million has been repaid by PG&E Corporation and the Utility, respectively.

Schedule of Debtor Reorganization Items

Reorganization items, net for the three and six months ended June 30, 2020 include the following:


	Three Months Ended June 30, 2020
(in millions)	Utility		PG&E Corporation⁽¹⁾		PG&E Corporation Consolidated
Debtor-in-possession financing costs	$	1	$	—	$	1
Legal and other ⁽²⁾	109		1,513		1,622
Interest income	—		—		—
Trustee fees ⁽³⁾	1		—		1
Total reorganization items, net	$	111	$	1,513	$	1,624

⁽¹⁾PG&E Corporation amounts reflected under the column “PG&E Corporation” exclude the accounts of the Utility.

⁽²⁾ Amount includes $1.5 billion in equity backstop premium expense and bridge loan facility fees.

⁽³⁾ PG&E Corporation and the Utility incurred $475,232 and $561,000, respectively, in fees to the U.S. Trustee in the three months ended June 30, 2020.


	Six Months Ended June 30, 2020
(in millions)	Utility		PG&E Corporation⁽¹⁾		PG&E Corporation Consolidated
Debtor-in-possession financing costs	$	3	$	—	$	3
Legal and other ⁽²⁾	205		1,597		1,802
Interest income	(5)		(2)		(7)
Trustee fees ⁽³⁾	1		1		2
Total reorganization items, net	$	204	$	1,596	$	1,800

⁽¹⁾PG&E Corporation amounts reflected under the column “PG&E Corporation” exclude the accounts of the Utility.

⁽²⁾ Amount includes $1.5 billion in equity backstop premium expense and bridge loan facility fees.

⁽³⁾ PG&E Corporation and the Utility incurred $724,232 and $824,930, respectively, in fees to the U.S. Trustee in the six months ended June 30, 2020.

Reorganization items, net for the three months ended June 30, 2019 and from the Petition Date through June 30, 2019 include the following:


	Three Months Ended June 30, 2019
(in millions)	Utility		PG&E Corporation⁽¹⁾		PG&E Corporation Consolidated
Debtor-in-possession financing costs	$	—	$	—	$	—
Legal and other	75		1		76
Interest income	(18)		(3)		(21)
Trustee fees ⁽²⁾	—		1		1
Total reorganization items, net	$	57	$	(1)	$	56

⁽¹⁾PG&E Corporation amounts reflected under the column “PG&E Corporation” exclude the accounts of the Utility.

⁽²⁾ PG&E Corporation and the Utility incurred $416,667 and $250,000, respectively, in fees to the U.S. Trustee in the three months ended June 30, 2019.


	Petition Date Through June 30, 2019
(in millions)	Utility		PG&E Corporation⁽¹⁾		PG&E Corporation Consolidated
Debtor-in-possession financing costs	$	97	$	17	$	114
Legal and other	98		2		100
Interest income	(27)		(5)		(32)
Trustee fees ⁽²⁾	—		1		1
Total reorganization items, net	$	168	$	15	$	183

⁽¹⁾PG&E Corporation amounts reflected under the column “PG&E Corporation” exclude the accounts of the Utility.

⁽²⁾ PG&E Corporation and the Utility incurred $416,667 and $250,000, respectively, in fees to the U.S. Trustee through June 30, 2019.