PG&E Corp

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 7, 2024

PCG$13.23+0.7%Stored close · as of Nov 10, 2026

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Contents

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)
	Nine Months Ended September 30,
	2024	2023
Cash Flows from Operating Activities
Net income	$1,964	$1,526
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and decommissioning	3,134	2,885
Bad debt expense	244	552
Allowance for equity funds used during construction	(136)	(123)
Deferred income taxes and tax credits, net	760	(499)
Wildfire Fund expense	295	453
Other	208	319
Effect of changes in operating assets and liabilities:
Accounts receivable	(952)	120
Wildfire-related insurance receivable	278	356
Inventories	31	(46)
Accounts payable	530	293
Wildfire-related claims	(429)	(404)
Other current assets and liabilities	(493)	219
Regulatory assets, liabilities, and balancing accounts, net	1,658	(246)
Other noncurrent assets and liabilities	(820)	(875)
Net cash provided by operating activities	6,272	4,530
Cash Flows from Investing Activities
Capital expenditures	(7,541)	(7,101)
Proceeds from sales and maturities of nuclear decommissioning trust investments	1,410	1,226
Purchases of nuclear decommissioning trust investments	(1,468)	(1,302)
Proceeds from sales and maturities of customer credit trust investments	291	455
Purchases of customer credit investments	(477)	—
Purchases of self-insurance investments	(449)	—
Other	15	12
Net cash used in investing activities	(8,219)	(6,710)
Cash Flows from Financing Activities
Borrowings under credit facilities	6,543	7,658
Repayments under credit facilities	(8,042)	(8,817)
Repayments under term loan credit facilities	(1,850)	—
Proceeds from issuance of long-term debt, net of premium, discount and issuance costs of $1 and $61 at respective dates	2,999	4,690

Proceeds from issuance of AB 1054 recovery bonds, net of financing fees of $10 and $0 at respective dates	1,409	—
Short-term debt financing, net of issuance costs of $1 and $0 at respective dates	999	—
Repayments of long-term debt	(800)	(875)
Repayment of AB 1054 recovery bonds	(46)	(38)
Repayment of SB 901 recovery bonds	(64)	(67)
Preferred stock dividends paid	(10)	(10)
Common stock dividends paid	(1,450)	(1,325)
Equity contribution from PG&E Corporation	1,708	840
Proceeds from DWR loan	980	—
Other	(119)	(65)
Net cash provided by financing activities	2,257	1,991
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents	310	(189)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at January 1	736	822
Cash, cash equivalents, restricted cash, and restricted cash equivalents at September 30	$1,046	$633
Less: Restricted cash and restricted cash equivalents	(334)	(368)
Cash and cash equivalents at September 30	$712	$265

Supplemental disclosures of cash flow information
Cash paid for:
Interest, net of amounts capitalized	$(1,735)	$(1,496)
Supplemental disclosures of noncash investing and financing activities
Capital expenditures financed through accounts payable	$953	$1,068
Operating lease liabilities arising from obtaining ROU assets	1	269
Financing lease liabilities arising from obtaining ROU assets	43	52
Reclassification of operating lease liabilities to financing lease liabilities	—	913
DWR loan forgiveness and performance-based disbursements	81	102

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.