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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2019
Accounting Policies [Abstract] |
Components of Net Periodic Benefit Cost | The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2019 and 2018 were as follows:
| Pension Benefits |  | Other Benefits
| Three Months Ended June 30,
(in millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Service cost for benefits earned (1) | $ | 111 |  |  | $ | 129 |  |  | $ | 14 |  |  | $ | 17 |
Interest cost | 190 |  |  | 172 |  |  | 19 |  |  | 18 |
Expected return on plan assets | (226 | ) |  | (256 | ) |  | (30 | ) |  | (32 | )
Amortization of prior service cost | (2 | ) |  | (2 | ) |  | 3 |  |  | 3 |
Amortization of net actuarial loss | — |  |  | 2 |  |  | (1 | ) |  | (2 | )
Net periodic benefit cost | 73 |  |  | 45 |  |  | 5 |  |  | 4 |
Regulatory account transfer (2) | 10 |  |  | 39 |  |  | — |  |  | — |
Total | $ | 83 |  |  | $ | 84 |  |  | $ | 5 |  |  | $ | 4 |
(1) A portion of service costs are capitalized pursuant to ASU 2017-07. (2) The Utility recorded these amounts to a regulatory account since they are probable of recovery from, or refund to, customers in future rates.
| Pension Benefits |  | Other Benefits
| Six Months Ended June 30,
(in millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Service cost for benefits earned (1) | $ | 222 |  |  | $ | 257 |  |  | $ | 28 |  |  | $ | 33 |
Interest cost | 379 |  |  | 344 |  |  | 38 |  |  | 35 |
Expected return on plan assets | (453 | ) |  | (511 | ) |  | (61 | ) |  | (65 | )
Amortization of prior service cost | (3 | ) |  | (3 | ) |  | 7 |  |  | 7 |
Amortization of net actuarial loss | 1 |  |  | 3 |  |  | (2 | ) |  | (3 | )
Net periodic benefit cost | 146 |  |  | 90 |  |  | 10 |  |  | 7 |
Regulatory account transfer (2) | 21 |  |  | 77 |  |  | — |  |  | — |
Total | $ | 167 |  |  | $ | 167 |  |  | $ | 10 |  |  | $ | 7 |
(1) A portion of service costs are capitalized pursuant to ASU 2017-07. (2) The Utility recorded these amounts to a regulatory account since they are probable of recovery from, or refund to, customers in future rates
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) | The changes, net of income tax, in PG&E Corporation’s accumulated other comprehensive income (loss) are summarized below:
| Pension Benefits |  | Other Benefits |  | Total
(in millions, net of income tax) | Three Months Ended June 30, 2019
Beginning balance | $ | (21 | ) |  | $ | 17 |  |  | $ | (4 | )
Amounts reclassified from other comprehensive income: |  |  |  |  |
Amortization of prior service cost (net of taxes of $1 and $1, respectively) (1) | (1 | ) |  | 2 |  |  | 1 |
Amortization of net actuarial loss (net of taxes of $0 and $1, respectively) (1) | — |  |  | — |  |  | — |
Regulatory account transfer (net of taxes of $1 and $0, respectively) (1) | 1 |  |  | (2 | ) |  | (1 | )
Net current period other comprehensive gain (loss) | — |  |  | — |  |  | — |
Ending balance | $ | (21 | ) |  | $ | 17 |  |  | $ | (4 | )
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
| Pension Benefits |  | Other Benefits |  | Total
(in millions, net of income tax) | Three Months Ended June 30, 2018
Beginning balance | $ | (30 | ) |  | $ | 17 |  |  | $ | (13 | )
Amounts reclassified from other comprehensive income: (1) |  |  |  |  |
Amortization of prior service cost (net of taxes of $1 and $1, respectively) | (1 | ) |  | 2 |  |  | 1 |
Amortization of net actuarial loss (net of taxes of $1 and $1, respectively) | 1 |  |  | (1 | ) |  | — |
Regulatory account transfer (net of taxes of $0 and $0, respectively) | — |  |  | (1 | ) |  | (1 | )
Net current period other comprehensive gain (loss) | — |  |  | — |  |  | — |
Ending balance | $ | (30 | ) |  | $ | 17 |  |  | $ | (13 | )
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
| Pension Benefits |  | Other Benefits |  | Total
(in millions, net of income tax) | Six Months Ended June 30, 2019
Beginning balance | $ | (21 | ) |  | $ | 17 |  |  | $ | (4 | )
Amounts reclassified from other comprehensive income: |  |  |  |  |
Amortization of prior service cost (net of taxes of $1 and $2, respectively) (1) | (2 | ) |  | 5 |  |  | 3 |
Amortization of net actuarial loss (net of taxes of $0 and $1, respectively) (1) | 1 |  |  | (1 | ) |  | — |
Regulatory account transfer (net of taxes of $1 and $1, respectively) (1) | 1 |  |  | (4 | ) |  | (3 | )
Net current period other comprehensive gain (loss) | — |  |  | — |  |  | — |
Ending balance | $ | (21 | ) |  | $ | 17 |  |  | $ | (4 | )
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
| Pension Benefits |  | Other Benefits |  | Total
(in millions, net of income tax) | Six Months Ended June 30, 2018
Beginning balance | $ | (25 | ) |  | $ | 17 |  |  | $ | (8 | )
Amounts reclassified from other comprehensive income: |  |  |  |  |
Amortization of prior service cost (net of taxes of $1 and $2, respectively) (1) | (2 | ) |  | 5 |  |  | 3 |
Amortization of net actuarial loss (net of taxes of $1 and $1, respectively) (1) | 2 |  |  | (2 | ) |  | — |
Regulatory account transfer (net of taxes of $0 and $1, respectively) (1) | — |  |  | (3 | ) |  | (3 | )
Reclassification of stranded income tax to retained earnings | (5 | ) |  | — |  |  | (5 | )
Net current period other comprehensive gain (loss) | (5 | ) |  | — |  |  | (5 | )
Ending balance | $ | (30 | ) |  | $ | 17 |  |  | $ | (13 | )
(1) These components are included in the computation of net periodic pension and other post-retirement benefit costs. (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)
Summary of Revenues Disaggregated by Type of Customer | The following table presents the Utility’s revenues disaggregated by type of customer:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2019 |  | 2018 |  | 2019 |  | 2018
Electric |  |  |  |  |  |  |
Revenue from contracts with customers |  |  |  |  |  |  |
Residential | $ | 994 |  |  | $ | 1,039 |  |  | $ | 2,282 |  |  | $ | 2,375 |
Commercial | 1,135 |  |  | 1,234 |  |  | 2,088 |  |  | 2,307 |
Industrial | 326 |  |  | 354 |  |  | 619 |  |  | 678 |
Agricultural | 261 |  |  | 318 |  |  | 347 |  |  | 443 |
Public street and highway lighting | 16 |  |  | 18 |  |  | 33 |  |  | 38 |
Other (1) | — |  |  | 84 |  |  | (309 | ) |  | (118 | )
Total revenue from contracts with customers - electric | 2,732 |  |  | 3,047 |  |  | 5,060 |  |  | 5,723 |
Regulatory balancing accounts (2) | 214 |  |  | 265 |  |  | 678 |  |  | 540 |
Total electric operating revenue | $ | 2,946 |  |  | $ | 3,312 |  |  | $ | 5,738 |  |  | $ | 6,263 |
Natural gas |  |  |  |  |  |  |
Revenue from contracts with customers |  |  |  |  |  |  |
Residential | $ | 343 |  |  | $ | 452 |  |  | $ | 1,515 |  |  | $ | 1,410 |
Commercial | 129 |  |  | 119 |  |  | 369 |  |  | 315 |
Transportation service only | 304 |  |  | 264 |  |  | 686 |  |  | 560 |
Other (1) | (129 | ) |  | (128 | ) |  | (205 | ) |  | (179 | )
Total revenue from contracts with customers - gas | 647 |  |  | 707 |  |  | 2,365 |  |  | 2,106 |
Regulatory balancing accounts (2) | 350 |  |  | 215 |  |  | (149 | ) |  | (79 | )
Total natural gas operating revenue | 997 |  |  | 922 |  |  | 2,216 |  |  | 2,027 |
Total operating revenues | $ | 3,943 |  |  | $ | 4,234 |  |  | $ | 7,954 |  |  | $ | 8,290 |
(1) This activity is primarily related to the change in unbilled revenue, partially offset by other miscellaneous revenue items. (2) These amounts represent revenues authorized to be billed or refunded to customers.
Schedule of Lease Expense | The following table shows the lease expense recognized for the fixed and variable component of the Utility’s lease obligations:
(in millions) | Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019
Operating lease fixed cost | $ | 114 |  |  | $ | 236 |
Operating lease variable cost | 490 |  |  | 799 |
Total operating lease costs | $ | 604 |  |  | $ | 1,035 |
Schedule of Future Expected Operating Lease Payments and Expected Obligations for Power Purchase and Other Lease Commitments | The following table shows the Utility’s future expected operating lease payments:
(in millions) | June 30, 2019
2019 (1) | $ | 450 |
2020 | 679 |
2021 | 623 |
2022 | 548 |
2023 | 255 |
Thereafter | 692 |
Total lease payments | 3,247 |
Less imputed interest | (594 | )
Total | $ | 2,653 |
(1) Represents the remaining expected operating lease payments from July 1, 2019 through December 31, 2019. The following table shows the Utility’s future expected obligations for power purchase and other lease commitments:
(in millions) | December 31, 2018
2019 | $ | 684 |
2020 | 677 |
2021 | 621 |
2022 | 546 |
2023 | 252 |
Thereafter | 581 |
Total lease commitments | $ | 3,361 |

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