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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, UTILITY - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income $ 1,259 $ 982
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and decommissioning 2,075 2,074
Bad debt expense 135 293
Allowance for equity funds used during construction (84) (82)
Deferred income taxes and tax credits, net 485 (329)
Wildfire Fund expense 156 234
Other (134) 41
Effect of changes in operating assets and liabilities:    
Accounts receivable (960) 1,589
Wildfire-related insurance receivable 196 347
Inventories 47 (46)
Accounts payable 419 145
Wildfire-related claims (483) (656)
Other current assets and liabilities (692) (220)
Regulatory assets, liabilities, and balancing accounts, net 734 (1,931)
Other noncurrent assets and liabilities (181) 19
Net cash provided by operating activities 2,972 2,460
Cash Flows from Investing Activities    
Capital expenditures (4,936) (4,680)
Proceeds from sales and maturities of nuclear decommissioning trust investments 1,044 751
Purchases of nuclear decommissioning trust investments (1,082) (802)
Proceeds from sales and maturities of customer credit trust investments 174 304
Purchases of customer credit investments (435) 0
Other 10 7
Net cash used in investing activities (5,225) (4,420)
Cash Flows from Financing Activities    
Borrowings under credit facilities 5,528 5,536
Repayments under credit facilities (4,827) (7,665)
Repayments under term loan credit facilities (100) 0
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $9 and $61 at respective dates 2,259 4,690
Repayments of long-term debt (450) (389)
Common stock dividends paid (43) 0
Proceeds from DWR loan 600 0
Other (7) (16)
Net cash provided by financing activities 2,873 2,075
Net change in cash, cash equivalents, and restricted cash 620 115
Cash, cash equivalents, and restricted cash at January 1 932 947
Cash, cash equivalents, and restricted cash at June 30 1,552 1,062
Less: Restricted cash and restricted cash equivalents (237) (257)
Cash and cash equivalents at June 30 1,315 805
Supplemental disclosures of cash flow information Cash paid for:    
Interest, net of amounts capitalized (1,199) (1,068)
Supplemental disclosures of noncash investing and financing activities    
Capital expenditures financed through accounts payable 921 860
Operating lease liabilities arising from obtaining ROU assets 1 208
Financing lease liabilities arising from obtaining ROU assets 15 0
DWR loan forgiveness and performance-based disbursements 47 67
AB 1054 Recovery Bonds    
Cash Flows from Financing Activities    
Repayments of recovery bonds (23) (14)
SB 901 securitization    
Cash Flows from Financing Activities    
Repayments of recovery bonds (64) (67)
Pacific Gas & Electric Co (Utility)    
Cash Flows from Operating Activities    
Net income 1,346 1,106
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and decommissioning 2,075 2,074
Bad debt expense 135 293
Allowance for equity funds used during construction (84) (82)
Deferred income taxes and tax credits, net 529 (278)
Wildfire Fund expense 156 234
Other (154) 64
Effect of changes in operating assets and liabilities:    
Accounts receivable (960) 1,595
Wildfire-related insurance receivable 196 347
Inventories 47 (46)
Accounts payable 408 110
Wildfire-related claims (483) (656)
Other current assets and liabilities (652) (223)
Regulatory assets, liabilities, and balancing accounts, net 734 (1,931)
Other noncurrent assets and liabilities (179) 20
Net cash provided by operating activities 3,114 2,627
Cash Flows from Investing Activities    
Capital expenditures (4,936) (4,680)
Proceeds from sales and maturities of nuclear decommissioning trust investments 1,044 751
Purchases of nuclear decommissioning trust investments (1,082) (802)
Proceeds from sales and maturities of customer credit trust investments 174 304
Purchases of customer credit investments (435) 0
Other 10 7
Net cash used in investing activities (5,225) (4,420)
Cash Flows from Financing Activities    
Borrowings under credit facilities 5,528 5,536
Repayments under credit facilities (4,827) (7,665)
Repayments under term loan credit facilities (100) 0
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $9 and $61 at respective dates 2,259 4,690
Repayments of long-term debt (450) (375)
Preferred stock dividends paid (7) (7)
Common stock dividends paid (950) (875)
Equity contribution from PG&E Corporation 705 560
Proceeds from DWR loan 600 0
Other 0 (11)
Net cash provided by financing activities 2,671 1,772
Net change in cash, cash equivalents, and restricted cash 560 (21)
Cash, cash equivalents, and restricted cash at January 1 736 822
Cash, cash equivalents, and restricted cash at June 30 1,296 801
Less: Restricted cash and restricted cash equivalents (236) (256)
Cash and cash equivalents at June 30 1,060 545
Supplemental disclosures of cash flow information Cash paid for:    
Interest, net of amounts capitalized (1,083) (911)
Supplemental disclosures of noncash investing and financing activities    
Capital expenditures financed through accounts payable 921 860
Operating lease liabilities arising from obtaining ROU assets 1 208
Financing lease liabilities arising from obtaining ROU assets 15 0
DWR loan forgiveness and performance-based disbursements 47 67
Pacific Gas & Electric Co (Utility) | AB 1054 Recovery Bonds    
Cash Flows from Financing Activities    
Repayments of recovery bonds (23) (14)
Pacific Gas & Electric Co (Utility) | SB 901 securitization    
Cash Flows from Financing Activities    
Repayments of recovery bonds $ (64) $ (67)