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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Revenues Disaggregated by Type of Customer

The following table presents the Utility’s revenues disaggregated by type of customer:

			Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)			2022						2021						2022						2021
Electric
Revenue from contracts with customers
Residential			$	2,128					$	1,962					$	4,834					$	4,778
Commercial			1,711						1,580						4,135						3,776
Industrial			534						467						1,206						1,099
Agricultural			777						655						1,477						1,238
Public street and highway lighting			20						18						57						53
Other (1)			115						(52)						26						169
Total revenue from contracts with customers - electric			5,285						4,630						11,735						11,113
Regulatory balancing accounts (2)			(1,390)						(449)						8						414
Total electric operating revenue			$	3,895					$	4,181					$	11,743					$	11,527
Natural gas
Revenue from contracts with customers
Residential			$	392					$	295					$	2,243					$	1,921
Commercial			162						102						703						486
Transportation service only			356						323						1,111						995
Other (1)			16						16						(251)						(168)
Total revenue from contracts with customers - gas			926						736						3,806						3,234
Regulatory balancing accounts (2)			573						548						761						635
Total natural gas operating revenue			1,499						1,284						4,567						3,869
Total operating revenues			$	5,394					$	5,465					$	16,310					$	15,396

(1) This activity is primarily related to the change in unbilled revenue and amounts subject to refund, partially offset by other miscellaneous revenue items.

(2) These amounts represent revenues authorized to be billed or refunded to customers.

Schedule of Net Benefit Costs

The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2022 and 2021 were as follows:

			Pension Benefits												Other Benefits
			Three Months Ended September 30,
(in millions)			2022						2021						2022						2021
Service cost for benefits earned (1)			$	144					$	147					$	15					$	15
Interest cost			173						161						13						13
Expected return on plan assets			(297)						(261)						(32)						(33)
Amortization of prior service cost			(1)						(1)						2						3
Amortization of net actuarial (gain) loss			—						1						(10)						(8)
Net periodic benefit cost			19						47						(12)						(10)
Regulatory account transfer (2)			64						37						—						—
Total			$	83					$	84					$	(12)					$	(10)

(1) A portion of service costs is capitalized pursuant to GAAP.

(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
			Nine Months Ended September 30,
(in millions)			2022						2021						2022						2021
Service cost for benefits earned (1)			$	432					$	440					$	46					$	47
Interest cost			519						484						40						39
Expected return on plan assets			(892)						(784)						(97)						(103)
Amortization of prior service cost			(3)						(4)						5						10
Amortization of net actuarial (gain) loss			1						4						(30)						(24)
Net periodic benefit cost			57						140						(36)						(31)
Regulatory account transfer (2)			191						111						—						—
Total			$	248					$	251					$	(36)					$	(31)

(1) A portion of service costs is capitalized pursuant to GAAP.

(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

The changes, net of income tax, in PG&E Corporation’s accumulated other comprehensive income (loss) consisted of the following:

			Pension Benefits						Other Benefits						Customer Credit Trust						Total
(in millions, net of income tax)			Three Months Ended September 30, 2022
Beginning balance			$	(33)					$	18					$	(5)					$	(20)
Other comprehensive income before reclassification
Loss on investments (net of taxes of $0, $0 and $5, respectively)			—						—						(12)						(12)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $1, $0 and $0, respectively)			—						2						—						2
Amortization of net actuarial gain (net of taxes of $0, $2 and $0, respectively)			—						(8)						—						(8)
Regulatory account transfer (net of taxes of $1, $2 and $0, respectively)			—						6						—						6
Net current period other comprehensive loss			—						—						(12)						(12)
Ending balance			$	(33)					$	18					$	(17)					$	(32)

(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 September 30, 2021
Beginning balance			$	(38)					$	17					$	(21)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $0 and $1, respectively)			(1)						2						1
Amortization of net actuarial (gain) loss (net of taxes of $0 and $3, respectively)			1						(5)						(4)
Regulatory account transfer (net of taxes of $1 and $2, respectively)			1						3						4
Net current period other comprehensive gain			1						—						1
Ending balance			$	(37)					$	17					$	(20)

(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						Customer Credit Trust						Total
(in millions, net of income tax)			Nine Months Ended September 30, 2022
Beginning balance			$	(33)					$	18					$	—					$	(15)
Other comprehensive income before reclassification
Loss on investments (net of taxes of $0, $0 and $7, respectively)			—						—						(17)						(17)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $1, $1 and $0, respectively)			(2)						4						—						2
Amortization of net actuarial (gain) loss (net of taxes of $0, $8 and $0, respectively)			1						(22)						—						(21)
Regulatory account transfer (net of taxes of $1, $7 and $0, respectively)			1						18						—						19
Net current period other comprehensive gain (loss)			—						—						(17)						(17)
Ending balance			$	(33)					$	18					$	(17)					$	(32)

(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)			Nine Months Ended September 30, 2021
Beginning balance			$	(39)					$	17					$	(22)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $1 and $3, respectively)			(3)						7						4
Amortization of net actuarial (gain) loss (net of taxes of $1 and $7, respectively)			3						(17)						(14)
Regulatory account transfer (net of taxes of $1 and $4, respectively)			2						10						12
Net current period other comprehensive gain (loss)			2						—						2
Ending balance			$	(37)					$	17					$	(20)

(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.

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