Quarterly Consolidated Financial Data

12 Months Ended

Dec. 31, 2011

Quarterly Consolidated Financial Data

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

	Quarter ended
	December 31		September 30		June 30		March 31
(in millions, except per share amounts)
2011
PG&E CORPORATION
Operating revenues		$  3,815		$  3,860		$  3,684		$  3,597
Operating income		358		408		692		484
Net income		87		203		366		202
Income available for common shareholders		83		200		362		199
Net earnings per common share, basic		0.20		0.50		0.91		0.50
Net earnings per common share, diluted		0.20		0.50		0.91		0.50
Common stock price per share:
High		43.24		43.32		46.52		47.60
Low		36.86		39.21		41.39		42.47
UTILITY
Operating revenues		$  3,813		$  3,859		$  3,683		$  3,596
Operating income		359		402		699		484
Net income		89		196		359		201
Income available for common stock		85		193		355		198
2010
PG&E CORPORATION
Operating revenues		$  3,621		$  3,513		$  3,232		$  3,475
Operating income		492		503		695		618
Net income		254		261		337		261
Income available for common shareholders		250		258		333		258
Net earnings per common share, basic		0.63		0.66		0.88		0.69
Net earnings per common share, diluted		0.63		0.66		0.86		0.67
Common stock price per share:
High		48.63		48.34		45.00		45.63
Low		45.38		40.52		34.95		40.58
UTILITY
Operating revenues		$  3,620		$  3,513		$  3,232		$  3,475
Operating income		494		505		696		619
Net income		253		265		339		264
Income available for common stock		249		262		335		261

During the third quarter 2010, second quarter 2011, and third quarter 2011, the Utility recorded a provision of $220 million, $59 million, and $96 million, respectively, for estimated third-party claims related to the San Bruno accident. During the second quarter 2011 and fourth quarter 2011, the Utility submitted insurance claims to certain insurers for the lower layers and recognized $60 million and $39 million, respectively, for insurance recoveries. Additionally, during the fourth quarter of 2011, the Utility accrued $200 million related to pending CPUC investigations and enforcement matters. See Note 15 of the Notes to the Consolidated Financial Statements.

During the third quarter 2011, the Utility recorded a charge of $125 million for environmental remediation and other estimated liabilities associated with the Utility's natural gas compressor site located near Hinkley, California.

Pacific Gas And Electric Company [Member]

Quarterly Consolidated Financial Data

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

	Quarter ended
	December 31		September 30		June 30		March 31
(in millions, except per share amounts)
2011
PG&E CORPORATION
Operating revenues		$  3,815		$  3,860		$  3,684		$  3,597
Operating income		358		408		692		484
Net income		87		203		366		202
Income available for common shareholders		83		200		362		199
Net earnings per common share, basic		0.20		0.50		0.91		0.50
Net earnings per common share, diluted		0.20		0.50		0.91		0.50
Common stock price per share:
High		43.24		43.32		46.52		47.60
Low		36.86		39.21		41.39		42.47
UTILITY
Operating revenues		$  3,813		$  3,859		$  3,683		$  3,596
Operating income		359		402		699		484
Net income		89		196		359		201
Income available for common stock		85		193		355		198
2010
PG&E CORPORATION
Operating revenues		$  3,621		$  3,513		$  3,232		$  3,475
Operating income		492		503		695		618
Net income		254		261		337		261
Income available for common shareholders		250		258		333		258
Net earnings per common share, basic		0.63		0.66		0.88		0.69
Net earnings per common share, diluted		0.63		0.66		0.86		0.67
Common stock price per share:
High		48.63		48.34		45.00		45.63
Low		45.38		40.52		34.95		40.58
UTILITY
Operating revenues		$  3,620		$  3,513		$  3,232		$  3,475
Operating income		494		505		696		619
Net income		253		265		339		264
Income available for common stock		249		262		335		261

During the third quarter 2010, second quarter 2011, and third quarter 2011, the Utility recorded a provision of $220 million, $59 million, and $96 million, respectively, for estimated third-party claims related to the San Bruno accident. During the second quarter 2011 and fourth quarter 2011, the Utility submitted insurance claims to certain insurers for the lower layers and recognized $60 million and $39 million, respectively, for insurance recoveries. Additionally, during the fourth quarter of 2011, the Utility accrued $200 million related to pending CPUC investigations and enforcement matters. See Note 15 of the Notes to the Consolidated Financial Statements.

During the third quarter 2011, the Utility recorded a charge of $125 million for environmental remediation and other estimated liabilities associated with the Utility's natural gas compressor site located near Hinkley, California.