Company: PCG-PB
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001004980-25-000087
Chunk: 35

Company: PG&E Corp
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 35
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29

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

PG&E CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share amounts)(Unaudited) Three Months Ended March 31, 20252024Operating Revenues  Electric$4,135 $4,052 Natural gas1,848 1,809 Total operating revenues5,983 5,861 Operating Expenses  Cost of electricity399 321 Cost of natural gas496 529 Operating and maintenance2,646 2,636 Wildfire-related claims, net of recoveries49 (1)Wildfire Fund expense76 78 Depreciation, amortization, and decommissioning1,097 1,022 Total operating expenses4,763 4,585 Operating Income1,220 1,276 Interest income117 137 Interest expense(734)(715)Other income, net70 76 Income Before Income Taxes673 774 Income tax provision39 39 Net Income634 735 Preferred stock dividend requirement27 3 Income Available for Common Shareholders$607 $732 Weighted Average Common Shares Outstanding, Basic2,195 2,134 Weighted Average Common Shares Outstanding, Diluted2,200 2,139 Net Income Per Common Share, Basic$0.28 $0.34 Net Income Per Common Share, Diluted$0.28 $0.34 

See accompanying Notes to the Condensed Consolidated Financial Statements.

30

PG&E CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in millions)

 (Unaudited)Three Months Ended March 31,20252024Net Income $634 $735 Other Comprehensive IncomeNet unrealized gains (losses) on available-for-sale securities (net of taxes of $2 and $1, respectively)7 (1)Total other comprehensive income (loss)7 (1)Comprehensive Income 641 734 Preferred stock dividend requirement27 3 Comprehensive Income Available for Common Shareholders$614 $731 

See accompanying Notes to the Condensed Consolidated Financial Statements.

31

PG&E CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions)(Unaudited) Balance at March 31, 2025December 31, 2024AS