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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE PG&E Corporation’s basic EPS is calculated by dividing the income (loss) available for common shareholders by the weighted average number of common shares outstanding. PG&E Corporation applies the treasury stock method of reflecting the dilutive effect of outstanding share-based compensation in the calculation of diluted EPS. The following is a reconciliation of PG&E Corporation’s income (loss) available for common shareholders and weighted average common shares outstanding for calculating diluted EPS for 2024, 2023, and 2022.
| Year Ended December 31,
(in millions, except per share amounts) | 2024 |  | 2023 |  | 2022
Income (loss) available for common shareholders | $ | 2,475 |  |  | $ | 2,242 |  |  | $ | 1,800 |
Weighted average common shares outstanding, basic (1) | 2,141 |  |  | 2,064 |  |  | 1,987 |
Add incremental shares from assumed conversions: |  |  |  |  |
Employee share-based compensation | 6 |  |  | 6 |  |  | 8 |
Equity Units | — |  |  | 68 |  |  | 137 |
Weighted average common shares outstanding, diluted | 2,147 |  |  | 2,138 |  |  | 2,132 |
Total earnings (loss) per common share, diluted | $ | 1.15 |  |  | $ | 1.05 |  |  | $ | 0.84 |
(1) Excludes 477,743,590 shares of PG&E Corporation common stock held by the Utility. For each of the periods presented above, the calculation of outstanding common shares on a diluted basis excluded an insignificant number of options and securities that were antidilutive. For the year ended December 31, 2024, the calculation of outstanding common shares on a diluted basis excluded the impacts of the Mandatory Convertible Preferred Stock (see Note 7 above), which were antidilutive. In addition, as a result of an irrevocable election made on December 8, 2023 to fix the settlement method to combination settlement, the Convertible Notes (as defined in Note 4) did not have a material impact on the calculation of diluted EPS.

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