-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SilrutNMDDdlRpCts1n14XQ6ltpp3RBOFhE/+TNUjxuEMRgebucutcvqjhh5h/yC wuRlJXXp3qWkJbpxKkR0oQ== 0001004980-98-000005.txt : 19980206 0001004980-98-000005.hdr.sgml : 19980206 ACCESSION NUMBER: 0001004980-98-000005 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980205 ITEM INFORMATION: FILED AS OF DATE: 19980205 SROS: AMEX SROS: PCX FILER: COMPANY DATA: COMPANY CONFORMED NAME: PACIFIC GAS & ELECTRIC CO CENTRAL INDEX KEY: 0000075488 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 940742640 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 001-02348 FILM NUMBER: 98522569 BUSINESS ADDRESS: STREET 1: 77 BEALE ST STREET 2: P O BOX 770000 MAIL CODE B7C CITY: SAN FRANCISCO STATE: CA ZIP: 94177 BUSINESS PHONE: 4159737000 MAIL ADDRESS: STREET 1: 77 BEALE STREET STREET 2: P O BOX 770000 CITY: SAN FRANCISCO STATE: CA ZIP: 94177 8-K/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT AMENDMENT NO. 1 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: February 5, 1998 Exact Name of Commission Registrant State or other IRS Employer File as specified Jurisdiction of Identification Number in its charter Incorporation Number - ----------- -------------- --------------- -------------- 1-12609 PG&E Corporation California 94-3234914 1-2348 Pacific Gas and California 94-0742640 Electric Company 77 Beale Street, P.O. Box 770000, San Francisco, California 94177 (Address of principal executive offices) (Zip Code) Registrants' telephone number, including area code:(415) 973-7000 Item 5. Other Events B. 1997 Consolidated Earnings (unaudited) Attached hereto as an appendix is a copy of the unaudited Condensed Statement of Consolidated Income for PG&E Corporation for the three months and year ended December 31, 1997 and 1996 which was inadvertently omitted from the Current Report on Form 8-K dated January 22, 1998. PG&E Corporation reported earnings per common share of $1.75 for the year ended December 31, 1997. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. PG&E CORPORATION and PACIFIC GAS AND ELECTRIC COMPANY LESLIE H. EVERETT By ________________________________ LESLIE H. EVERETT Vice President and Corporate Secretary (PG&E Corporation) Vice President and Corporate Secretary (Pacific Gas and Electric Company) Dated: February 5, 1998 Appendix PG&E CORPORATION CONDENSED STATEMENT OF CONSOLIDATED INCOME (unaudited)
- ------------------------------------------------------------------------------------------------------ Three months ended December 31, Twelve months ended December 31, (in thousands, ------------------------------ ------------------------------- except per share amounts) 1997 1996 1997 1996 - ------------------------------------------------------------------------------------------------------ OPERATING REVENUES Electric and gas utility $ 2,401,177 $ 2,324,647 $ 9,494,995 $ 8,988,896 Energy trading (a) 1,854,377 283,000 4,612,260 283,000 Other (b) 633,044 93,039 1,292,659 338,076 ------------ ------------ ------------ ------------ Total operating revenues $ 4,888,598 $ 2,700,686 $ 15,399,914 $ 9,609,972 ------------ ------------ ------------ ------------ OPERATING EXPENSES Cost of electric energy and gas (a) 3,157,870 1,001,042 8,484,582 3,065,325 Maintenance and operating 669,081 596,102 2,414,952 2,410,671 Depreciation and decommissioning 491,316 305,908 1,888,697 1,221,952 Administrative and general 304,923 288,664 883,402 1,016,439 ------------ ------------ ------------ ------------ Total operating expenses 4,623,190 2,191,716 13,671,633 7,714,387 ------------ ------------ ------------ ------------ OPERATING INCOME 265,408 508,970 1,728,281 1,895,585 ------------ ------------ ------------ ------------ Interest income 26,747 10,784 71,339 72,900 Interest expense, net (180,629) (154,880) (664,673) (632,043) Other income and expense 80,977 (37,036) 162,023 (26,239) Preferred dividend requirement and redemption premium (8,278) (8,279) (33,113) (33,113) ------------ ------------ ----------- ------------ PRETAX INCOME 184,225 319,559 1,263,857 1,277,090 ------------ ------------ ----------- ------------ INCOME TAXES 90,338 178,808 547,917 554,994 ------------ ------------ ----------- ------------ NET INCOME: EARNINGS AVAILABLE FOR COMMON STOCK $ 93,887 $ 140,751 $ 715,940 $ 772,096 ============ ============ =========== ============ WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 419,432 408,982 410,040 412,542 EARNINGS PER COMMON SHARE, BASIC AND DILUTED $ 0.22 $ 0.34 $ 1.75 $ 1.75 DIVIDENDS DECLARED PER COMMON SHARE $ 0.30 $ 0.30 $ 1.20 $ 1.77 Earnings per share information for selected lines of business are as follows: - ------------------------------------------------------------------------------------------------------ Three months ended December 31, Twelve months ended December 31, ------------------------------ ------------------------------- 1997 1996 1997 1996 - ------------------------------------------------------------------------------------------------------ Pacific Gas and Electric Company $ 0.43 $ 0.42 $ 1.79 $ 1.71 Other (c) (0.21) (0.08) (0.04) 0.04 -------- -------- -------- -------- Total $ 0.22 $ 0.34 $ 1.75 $ 1.75 ======== ======== ======== ======== (a) Increases are primarily due to the acquisition of Energy Source (ESI) in December 1996, Teco Pipeline Company (Teco) in January 1997, and Valero Energy Corporation's gas business (Valero) in July 1997. ESI's, Teco's, and Valero's trading activities (now conducted through PG&E Energy Trading)include the purchase and sale of natural gas and natural gas futures. (b) Other revenues include revenues derived from gas transmission (including Teco's and Valero's gas transmission activities now conducted through PG&E Gas Transmission) and nonutility electric generation and energy services. (c) Other earnings per share includes earnings derived from PG&E Gas Transmission, PG&E Energy Services, PG&E Energy Trading, U.S. Generating Company, Ltd., International Generating Company, Ltd., and PG&E Enterprises.
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