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SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT | PG&E CORPORATION SCHEDULE I — CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”) CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Years Ended December 31,
(in millions, except per share amounts) | 2023 |  | 2022 |  | 2021
Administrative service revenue | $ | 154 |  |  | $ | 109 |  |  | $ | 118 |
Operating expenses | (165) |  |  | (193) |  |  | (124) |
Interest income | 13 |  |  | 3 |  |  | — |
Interest expense | (365) |  |  | (261) |  |  | (230) |
Other income (expense) | (21) |  |  | (201) |  |  | (54) |
Reorganization items, net | — |  |  | — |  |  | 1 |
Equity in earnings of subsidiaries | 2,530 |  |  | 2,154 |  |  | 137 |
Income (loss) before income taxes | 2,146 |  |  | 1,611 |  |  | (152) |
Income tax benefit | (96) |  |  | (132) |  |  | (64) |
Net Income (loss) | $ | 2,242 |  |  | $ | 1,743 |  |  | $ | (88) |
Other Comprehensive Income (Loss) |  |  |  |  |
Pension and other postretirement benefit plans obligations (net of taxes of $6, $8, and $3, at respective dates) | $ | (16) |  |  | $ | 21 |  |  | $ | 7 |
Total other comprehensive income (loss) | (16) |  |  | 21 |  |  | 7 |
Comprehensive Income (Loss) | $ | 2,226 |  |  | $ | 1,764 |  |  | $ | (81) |
Weighted Average Common Shares Outstanding, Basic (1) | 2,064 |  |  | 2,235 |  |  | 2,463 |
Weighted Average Common Shares Outstanding, Diluted (1) | 2,138 |  |  | 2,380 |  |  | 2,463 |
Net earnings (loss) per common share, basic | $ | 1.09 |  |  | $ | 0.78 |  |  | $ | (0.05) |
Net earnings (loss) per common share, diluted | $ | 1.05 |  |  | $ | 0.73 |  |  | $ | (0.05) |
(1) Includes 0 and 247,743,590 shares of common stock issued to ShareCo as of December 31, 2023 and 2022, respectively. PG&E CORPORATION SCHEDULE I — CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”) – (Continued) CONSOLIDATED BALANCE SHEETS
| Balance at December 31,
(in millions) | 2023 |  | 2022
ASSETS |  |  |
Current Assets |  |  |
Cash and cash equivalents | $ | 192 |  |  | $ | 125 |
Restricted cash | 3 |  |  | — |
Advances to affiliates | 24 |  |  | 46 |
Income taxes receivable | 2 |  |  | 10 |
Other current assets | 1 |  |  | 12 |
Total current assets | 222 |  |  | 193 |
Noncurrent Assets |  |  |
Investments in subsidiaries | 36,804 |  |  | 33,021 |
Other investments | 167 |  |  | 160 |
Deferred income taxes | 539 |  |  | 423 |
Total noncurrent assets | 37,510 |  |  | 33,604 |
Total Assets | $ | 37,732 |  |  | $ | 33,797 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
Current Liabilities |  |  |
Long-term debt, classified as current | — |  |  | 27 |
Accounts payable – other | 58 |  |  | 88 |
Income taxes payable | 1 |  |  | — |
Other current liabilities | 363 |  |  | 369 |
Total current liabilities | 422 |  |  | 484 |
Noncurrent Liabilities |  |  |
Long-term debt | 4,599 |  |  | 4,588 |
Other noncurrent liabilities | 141 |  |  | 134 |
Total noncurrent liabilities | 4,740 |  |  | 4,722 |
Common Shareholders’ Equity |  |  |
Common stock | 37,906 |  |  | 36,132 |
Reinvested earnings | (5,322) |  |  | (7,542) |
Accumulated other comprehensive income (loss) | (14) |  |  | 1 |
Total common shareholders’ equity | 32,570 |  |  | 28,591 |
Total Liabilities and Shareholders’ Equity | $ | 37,732 |  |  | $ | 33,797 |
PG&E CORPORATION SCHEDULE I – CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”) – (Continued) CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions)
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Cash Flows from Operating Activities: |  |  |  |  |
Net income (loss) | $ | 2,242 |  |  | $ | 1,743 |  |  | $ | (88) |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Stock-based compensation amortization | 4 |  |  | 95 |  |  | 51 |
Equity in earnings of subsidiaries | (2,530) |  |  | (2,160) |  |  | (139) |
Deferred income taxes and tax credits, net | (116) |  |  | (126) |  |  | (60) |
Reorganization items, net | — |  |  | — |  |  | (32) |
Current income taxes receivable/payable | 9 |  |  | — |  |  | 2 |
Other | 40 |  |  | 339 |  |  | 81 |
Net cash used in operating activities | (351) |  |  | (109) |  |  | (185) |
Cash Flows From Investing Activities: |  |  |  |  |
Investment in subsidiaries | (1,290) |  |  | (994) |  |  | — |
Dividends received from subsidiaries (1) | 1,775 |  |  | 1,275 |  |  | — |
Net cash provided by investing activities | 485 |  |  | 281 |  |  | — |
Cash Flows From Financing Activities: |  |  |  |  |
Proceeds from issuance of convertible notes, net of discount and issuance costs of $27, $0, and $0 at respective dates | 2,123 |  |  | — |  |  | — |
Repayment of long-term debt | — |  |  | (28) |  |  | (28) |
Proceeds from (repayments of) intercompany note from the Utility | — |  |  | (145) |  |  | 145 |
Repayments under term loan credit facilities | (2,181) |  |  | — |  |  | — |
Other | (6) |  |  | — |  |  | (29) |
Net cash provided by (used in) financing activities | (64) |  |  | (173) |  |  | 88 |
Net change in cash, cash equivalents, and restricted cash | 70 |  |  | (1) |  |  | (97) |
Cash, cash equivalents, and restricted cash at January 1 | 125 |  |  | 126 |  |  | 223 |
Cash, cash equivalents, and restricted cash at December 31 | $ | 195 |  |  | $ | 125 |  |  | $ | 126 |
Less: Restricted cash and restricted cash equivalents | (3) |  |  | — |  |  | — |
Cash and cash equivalents at December 31 | $ | 192 |  |  | $ | 125 |  |  | $ | 126 |
Supplemental disclosures of cash flow information |  |  |  |  |
Cash received (paid) for: |  |  |  |  |
Interest, net of amounts capitalized | $ | (309) |  |  | $ | (233) |  |  | $ | (207) |
Income taxes, net | — |  |  | — |  |  | 1 |
Supplemental disclosures of noncash investing and financing activities |  |  |  |  |
Changes to PG&E Corporation common stock and treasury stock in connection with the Share Exchange and Tax Matters Agreement | $ | (2,517) |  |  | $ | (2,337) |  |  | $ | 4,854 |
Common stock dividends declared but not yet paid | 21 |  |  | — |  |  | — |
(1) Because of its nature as a holding company, PG&E Corporation classifies dividends received from subsidiaries as an investing cash flow.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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