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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating Revenues        
Total operating revenues $ 5,215 $ 4,533 $ 9,931 $ 8,839
Operating Expenses        
Operating and maintenance 2,583 2,141 4,919 4,108
Wildfire-related claims, net of insurance recoveries (5) 170 167 170
Wildfire Fund expense 118 173 237 173
Depreciation, amortization, and decommissioning 851 874 1,739 1,729
Total operating expenses 4,581 4,251 8,993 7,902
Operating Income 634 282 938 937
Interest income 15 12 17 28
Interest expense (398) (199) (806) (453)
Other income, net 128 100 255 197
Reorganization items, net (11) (1,624) (11) (1,800)
Income (Loss) Before Income Taxes 368 (1,429) 393 (1,091)
Income tax provision (benefit) (33) 539 (131) 503
Net Income (Loss) 401 (1,968) 524 (1,594)
Preferred stock dividend requirement of subsidiary 4 4 7 7
Income (Loss) Attributable to Common Shareholders $ 397 $ (1,972) $ 517 $ (1,601)
Weighted Average Common Shares Outstanding, Basic (in shares) 1,985 529 1,985 529
Weighted Average Common Shares Outstanding, Diluted (in shares) 2,146 529 2,146 529
Net Income (Loss) Per Common Share, Basic (in dollars per share) $ 0.20 $ (3.73) $ 0.26 $ (3.03)
Net Income (Loss) Per Common Share, Diluted (in dollars per share) $ 0.18 $ (3.73) $ 0.24 $ (3.03)
Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues $ 5,215 $ 4,533 $ 9,931 $ 8,839
Operating Expenses        
Operating and maintenance 2,581 2,145 4,912 4,110
Wildfire-related claims, net of insurance recoveries (5) 170 167 170
Wildfire Fund expense 118 173 237 173
Depreciation, amortization, and decommissioning 851 874 1,739 1,729
Total operating expenses 4,579 4,255 8,986 7,904
Operating Income 636 278 945 935
Interest income 15 12 17 28
Interest expense (342) (189) (690) (441)
Other income, net 124 93 257 186
Reorganization items, net (10) (111) (12) (204)
Income (Loss) Before Income Taxes 423 83 517 504
Income tax provision (benefit) (17) 556 (100) 526
Net Income (Loss) 440 (473) 617 (22)
Preferred stock dividend requirement of subsidiary 4 4 7 7
Income (Loss) Attributable to Common Shareholders 436 (477) 610 (29)
Electric        
Operating Revenues        
Total operating revenues 3,951 3,435 7,346 6,475
Operating Expenses        
Cost of goods 847 759 1,437 1,304
Electric | Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues 3,951 3,435 7,346 6,475
Operating Expenses        
Cost of goods 847 759 1,437 1,304
Natural gas        
Operating Revenues        
Total operating revenues 1,264 1,098 2,585 2,364
Operating Expenses        
Cost of goods 187 134 494 418
Natural gas | Pacific Gas & Electric Co (Utility)        
Operating Revenues        
Total operating revenues 1,264 1,098 2,585 2,364
Operating Expenses        
Cost of goods $ 187 $ 134 $ 494 $ 418