PG&E Corp
For the period ended Mar 31, 2024. Filed Apr 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 25, 2024
PCG$13.23+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| (Unaudited) | ||
|---|---|---|
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Cash Flows from Operating Activities | ||
| Net income | $735 | $572 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization, and decommissioning | 1,022 | 1,077 |
| Bad debt expense | 70 | 139 |
| Allowance for equity funds used during construction | (39) | (41) |
| Deferred income taxes and tax credits, net | 239 | (163) |
| Wildfire Fund expense | 78 | 117 |
| Other | (101) | (6) |
| Effect of changes in operating assets and liabilities: | ||
| Accounts receivable | (341) | 826 |
| Wildfire-related insurance receivable | 75 | 51 |
| Inventories | 49 | 7 |
| Accounts payable | 608 | 303 |
| Wildfire-related claims | (253) | (396) |
| Other current assets and liabilities | (585) | (239) |
| Regulatory assets, liabilities, and balancing accounts, net | 666 | (1,069) |
| Other noncurrent assets and liabilities | 38 | 7 |
| Net cash provided by operating activities | 2,261 | 1,185 |
| Cash Flows from Investing Activities | ||
| Capital expenditures | (2,638) | (2,288) |
| Proceeds from sales and maturities of nuclear decommissioning trust investments | 457 | 277 |
| Purchases of nuclear decommissioning trust investments | (484) | (303) |
| Proceeds from sales and maturities of customer credit trust investments | 81 | 169 |
| Purchases of customer credit investments | (350) | — |
| Other | 4 | 5 |
| Net cash used in investing activities | (2,930) | (2,140) |
| Cash Flows from Financing Activities | ||
| Borrowings under credit facilities | 2,458 | 4,071 |
| Repayments under credit facilities | (3,612) | (4,785) |
| Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $9 and $27 at respective dates | 2,259 | 2,223 |
| Repayments of long-term debt | (450) | (7) |
| Repayment of AB 1054 recovery bonds | (23) | (14) |
| Common stock dividends paid | (21) | — |
| Proceeds from DWR loan | 232 | — |
| Other | (86) | (65) |
| Net cash provided by financing activities | 757 | 1,423 |
| Net change in cash, cash equivalents, and restricted cash | 88 | 468 |
| Cash, cash equivalents, and restricted cash at January 1 | 932 | 947 |
| Cash, cash equivalents, and restricted cash at March 31 | $1,020 | $1,415 |
| Less: Restricted cash and restricted cash equivalents | (362) | (387) |
|---|---|---|
| Cash and cash equivalents at March 31 | $658 | $1,028 |
| Supplemental disclosures of cash flow information | ||
|---|---|---|
| Cash paid for: | ||
| Interest, net of amounts capitalized | $(712) | $(598) |
| Supplemental disclosures of noncash investing and financing activities | ||
| Capital expenditures financed through accounts payable | $666 | $664 |
| Operating lease liabilities arising from ROU assets | 1 | 195 |
| Financing lease liabilities arising from obtaining ROU assets | 12 | — |
| Changes to PG&E Corporation common stock and treasury stock in connection with share exchanges with the Fire Victim Trust | — | (610) |
| DWR loan forgiveness and performance-based disbursements | 34 | 33 |
| Common stock dividends declared but not yet paid | 21 | — |
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