1 

EXHIBIT 99.1 

 MONTHLY OPERATING REPORT 

 (GENERAL BUSINESS CASE) 

SUMMARY OF FINANCIAL STATUS 

MONTH ENDED: May 31, 2019 PETITION DATE: January 29, 2019

1. 

Debtors in possession (or trustee) hereby submit this Monthly Operating Report on the Accrual Basis of accounting (or if 

checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtors). 

Dollars reported in $ millions 

2. Asset and Liability Structure End of Current End of Prior As of Petition 

 Month Month Filing (1)

 a. Current Assets $ 11,384 $ 11,793 $ 9,091

 b. Total Assets $ 83,547 $ 83,586 $ 79,809

 c. Current Liabilities $ 5,282 $ 5,031 $ 3,740

 d. Total Liabilities $ 70,300 $ 70,389 $ 66,888

3. Statement of Cash Receipts & Disbursements for Month 

End of Current 

Month 

End of Prior 

Month 

Cumulative 

(Case to Date) 

 a. Total Receipts $ 1,591 $ 2,942 $ 9,155

 b. Total Disbursements $ (2,137) $ (2,206) $ (6,886)

c. Excess (Deficiency) of Receipts Over Disbursements (a - 

b) $ (546) $ 736 $ 2,269

 d. Cash Balance Beginning of Month $ 3,725 $ 2,989 $ 910

 e. Cash Balance End of Month (c + d) $ 3,179 $ 3,725 $ 3,179

 

End of Current 

Month 

End of Prior 

Month 

Cumulative 

(Case to Date) (1)

4. Profit/(Loss) from the Statement of Operations $ 50 $ 70 $ 255

5. Account Receivables (Pre and Post-Petition) $ 4,772 $ 4,414

6. Post-Petition Liabilities $ 3,674 $ 3,369

7. Past Due Post-Petition Account Payables (over 30 days) (2) $ — $ —

(1) Data as of January 29, 2019 is not available, January 31, 2019 data used as Petition Date.

(2) In the ordinary course, in most instances the Debtors’ process for validating items for payment to suppliers requires the matching of a vendor invoice with a 

purchase order and, additionally, with a goods receipt (reflecting the Debtors’ acknowledgment of the delivery of goods or completion of services). That

matching process extends the timeline for a vendor invoice to be cleared for payment until such time as the validation operation is fully complete. The 

Debtors are actively engaged on an ongoing basis with their supplier base to minimize the invoice matching and validation time frame. To the best of the

Debtors’ knowledge, in all instances where the invoice matching process has been satisfactorily completed for post-petition vendor activity, the Debtors do 

not have any past due post-petition accounts payable as of May 31, 2019.

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At the end of this reporting month: Yes No 

8. Have any payments been made on pre-petition debt, other than payments in the 

normal course to secured creditors or lessors? (if yes, attach listing including date 

of payment, amount of payment and name of payee) 

9. Have any payments been made to professionals? (if yes, attach listing including 

date of payment, amount of payment and name of payee) 

10. If the answer is yes to 8 or 9, were all such payments approved by the court? 

11. Have any payments been made to officers, insiders, shareholders, relatives? (if 

yes, attach listing including date of payment, amount and reason for payment, and 

name of payee) 

12. Are the estates insured for replacement cost of assets and for general liability? 

13. Are a plan and disclosure statement on file? 

14. Was there any post-petition borrowing during this reporting period? 

15. Check if paid: 

 Post-petition taxes: 

 U.S. Trustee Quarterly Fees: 

 Tax reporting and tax returns: N/A 

(Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax 

reporting and tax return filings are not current.) 

I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making 

reasonable inquiry believe these documents are correct. 

Date: June 27, 2019 /s/ DAVID S. THOMASON 

 David S. Thomason 

 Vice President, Controller, PG&E Corporation 

 

Vice President, Chief Financial Officer and Controller, Pacific 

Gas and Electric Company 

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UNAUDITED STATEMENTS OF INCOME 

FOR THE MONTH ENDED MAY 31, 2019 

(in millions) Reference

Pacific Gas & 

Electric 

Company 

PG&E 

Corporation 

PG&E 

Corporation 

Consolidated 

Operating Revenues 

Electric $ 968 $ — $ 968

Natural gas 338 — 338

Total operating revenues 1,306 — 1,306

Operating Expenses 

Cost of electricity 254 — 254

Cost of natural gas 38 — 38

Operating and maintenance 724 3 727

Depreciation, amortization, and decommissioning 263 — 263

Total operating expenses 1,279 3 1,282

Operating Income 27 (3) 24

Interest income 7 1 8

Interest expense (26) — (26)

Other income, net 20 2 22

Reorganization items, net Item 15 (14) 1 (13)

Income Before Income Taxes 14 1 15

Income tax benefit (35) — (35)

Net Income 49 1 50

Preferred stock dividend requirement — — —

Income Available for Common Stock $ 49 $ 1 $ 50

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UNAUDITED STATEMENTS OF INCOME 

PETITION DATE THROUGH MAY 31, 2019 

(in millions) Reference

Pacific Gas & 

Electric 

Company 

PG&E 

Corporation 

PG&E 

Corporation 

Consolidated 

Operating Revenues 

Electric $ 4,605 $ — $ 4,605

Natural gas 1,902 — 1,902

Total operating revenues 6,507 — 6,507

Operating Expenses 

Cost of electricity 1,032 — 1,032

Cost of natural gas 431 — 431

Operating and maintenance 3,462 (14) 3,448

Depreciation, amortization, and decommissioning 1,327 — 1,327

Total operating expenses 6,252 (14) 6,238

Operating Income 255 14 269

Interest income 35 2 37

Interest expense (143) (2) (145)

Other income, net 109 6 115

Reorganization items, net Item 15 (146) (14) (160)

Income Before Income Taxes 110 6 116

Income tax benefit (142) 2 (140)

Net Income 252 4 256

Preferred stock dividend requirement — — 1

Income Available for Common Stock $ 252 $ 4 $ 255

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UNAUDITED BALANCE SHEETS 

AS OF MAY 31, 2019 

(in millions) Reference

Pacific Gas & 

Electric 

Company 

PG&E 

Corporation 

PG&E 

Corporation 

Consolidated 

ASSETS 

Current Assets 

Cash and cash equivalents 

Items 10 

and 11 $ 2,769 $ 422 $ 3,191

Accounts receivable 

Customers (net of allowance for doubtful 

accounts of $60) Item 4 1,074 — 1,074

Accrued unbilled revenue 931 — 931

Regulatory balancing accounts 1,829 — 1,829

Other 2,780 105 2,767

Regulatory assets 190 — 190

Inventories Item 3 

Gas stored underground and fuel oil 89 — 89

Materials and supplies 484 — 484

Income taxes receivable 262 2 264

Other 565 — 565

Total current assets 10,973 529 11,384

Property, Plant, and Equipment 

Electric 60,552 — 60,552

Gas 22,248 — 22,248

Construction work in progress 2,585 — 2,585

Other Plant in Service 18 2 20

Total property, plant, and equipment 85,403 2 85,405

Accumulated depreciation (25,546) (2) (25,548)

Net property, plant, and equipment Item 7 59,857 — 59,857

Other Noncurrent Assets 

Regulatory assets 5,143 — 5,143

Nuclear decommissioning trusts 3,017 — 3,017

Operating lease right of use asset 2,695 8 2,705

Income taxes receivable 67 82 149

Other 1,155 12,891 1,292

Total other noncurrent assets 12,077 12,981 12,306

TOTAL ASSETS $ 82,907 $ 13,510 $ 83,547

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UNAUDITED BALANCE SHEETS 

AS OF MAY 31, 2019 

(in millions) Reference

Pacific Gas & 

Electric 

Company 

PG&E 

Corporation 

PG&E 

Corporation 

Consolidated 

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current Liabilities 

Short-term borrowings $ — $ — $ —

Long-term debt, classified as current — — —

Accounts payable Item 5 

Trade creditors 1,410 — 1,410

Regulatory balancing accounts 1,322 — 1,322

Other 488 38 408

Operating lease liabilities 541 3 544

Disputed claims and customer refunds — — —

Interest payable — — —

Wildfire-related claims — — —

Other 1,613 (15) 1,598

Total current liabilities 5,374 26 5,282

Noncurrent Liabilities 

Long-term debt — — —

Debtor-in-possession financing Item 6 1,500 — 1,500

Regulatory liabilities 8,962 — 8,962

Pension and other postretirement benefits 1,972 — 1,972

Asset retirement obligations 6,092 — 6,092

Deferred income taxes Item 8 3,339 (122) 3,217

Operating lease liabilities 2,155 6 2,161

Other 2,251 60 2,280

Total noncurrent liabilities 26,271 (56) 26,184

Liabilities Subject to Compromise Item 9 38,054 780 38,834

Shareholders’ Equity 

Preferred stock 258 — 258

Common stock 1,322 13,020 13,000

Additional paid-in capital 8,550 — (6)

Reinvested earnings 3,079 (251) 4

Accumulated other comprehensive (loss) income (1) (9) (9)

Total shareholders’ equity 13,208 12,760 13,247

Noncontrolling Interest - Preferred Stock of 

Subsidiary — — —

TOTAL LIABILITIES AND SHAREHOLDERS’ 

EQUITY $ 82,907 $ 13,510 $ 83,547

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1. BASIS OF PRESENTATION 

General 

On January 29, 2019, PG&E Corporation (the “Corporation”) and its subsidiary, Pacific Gas and Electric Company (the 

“Utility”) (together with the Corporation, the “Debtors”), filed voluntary petitions for relief under chapter 11 of title 11 of the 

United States Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the Northern District of California (the 

“Bankruptcy Court”). The Corporation’s and the Utility’s Chapter 11 cases are being jointly administered under the caption In 

re: PG&E Corporation and Pacific Gas and Electric Company, Case No. 19-30088 (DM) (the “Chapter 11 Cases”). The 

Debtors continue to operate their businesses and manage their properties as debtors in possession pursuant to sections 1107(a) 

and 1108 of the Bankruptcy Code. No trustee or examiner has been appointed in either of the Chapter 11 Cases. 

On February 12, 2019, the United States Trustee (the “U.S. Trustee”) appointed an Official Committee of Unsecured Creditors. 

On February 15, 2019, the U.S. Trustee appointed an Official Committee of Tort Claimants. 

Debtor-in-Possession Financial Statements 

Financial Accounting Standards Board Accounting Standards Codification 852 (Reorganizations) (“ASC 852”), which is 

applicable to companies in Chapter 11, requires that financial statements for periods after the filing of a Chapter 11 petition 

distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the 

business. The financial statements have been prepared in accordance with ASC 852. The accompanying financial statements 

have been prepared solely for purposes of complying with the monthly operating requirements applicable in the Debtors’ 

Chapter 11 Cases (the “Monthly Operating Reports”). The Debtors caution investors and potential investors not to place undue 

reliance upon the information contained in the Monthly Operating Reports, which was not prepared for the purpose of 

providing the basis for an investment decision relating to any securities of the Debtors. 

The financial information contained in the Monthly Operating Reports is unaudited, limited in scope, and as such, has not been 

subject to procedures that would typically be applied to financial statements in accordance with accounting principles generally 

accepted in the United States of America. The Monthly Operating Reports should not be relied upon by any persons for 

information relating to current or future financial condition, events, or performance of the Corporation and the Utility and any 

of their non-debtor subsidiaries, as the results of operations contained in the Monthly Operating Reports are not necessarily 

indicative of results which may be expected for any other period or for the full year, and may not necessarily reflect the 

combined results of operations, financial position, and schedule of receipts and disbursements in the future. These unaudited 

financial statements were prepared using certain assumptions and estimates. These assumptions and estimates are subject to 

revision. Further, the amounts shown in this statement may differ materially due to adjustments in accruals, changes in facts 

and circumstances, changes in estimates, further analysis, and other factors. 

The Utility’s unaudited financial statements reflected under the column “Pacific Gas and Electric Company” are presented on a 

consolidated basis and include the accounts of the Utility and the following subsidiaries of the Utility that individually and in 

aggregate are immaterial: Eureka Energy Company, Midway Power, LLC, Pacific Energy Fuels Company, and Standard Pacific 

Gas Line Incorporated. 

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation” are presented on a 

consolidated basis and include the accounts of the following subsidiaries of the Corporation that individually and in aggregate 

are immaterial: PCG Capital, Inc., PG&E Corporation Support Services, Inc., and PG&E Corporation Support Services II, Inc. 

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation” exclude the accounts of the 

Utility. 

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation, Consolidated” are presented 

on a consolidated basis and include the accounts of the Corporation, the Utility, and other wholly owned and controlled 

subsidiaries. 

These unaudited financial statements differ from the requirements of generally accepted accounting principles in that they 

exclude certain financial statements (statements of cash flows, shareholders’ equity, and other comprehensive income), relevant 

footnotes and certain reclassifications. 

These unaudited financial statements were prepared using certain assumptions and estimates. These assumptions and estimates 

are subject to revision. Further, the amounts shown in this statement, when reported on a quarterly basis, may differ materially 

due to adjustments in accruals, changes in facts and circumstances, changes in estimates, further analysis, and other factors. 

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Liabilities Subject to Compromise 

As a result of the Chapter 11 Cases, the payment of prepetition indebtedness is subject to compromise or other treatment under 

a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the 

Bankruptcy Court confirms a Chapter 11 plan of reorganization and such plan becomes effective. Accordingly, the ultimate 

amount of such liabilities is not determinable at this time. ASC 852 requires prepetition liabilities that are subject to 

compromise to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. The amounts 

currently classified as liabilities subject to compromise are preliminary and may be subject to future adjustments depending on 

the Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of 

certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or 

other events. 

Reorganization Items 

ASC 852 requires expenses and income directly associated with the Chapter 11 Cases to be reported separately in the income 

statement. Reorganization items are reported net and include expenses related to legal advisory and representation services, 

other professional consulting and advisory services, debtor-in-possession financing fees and changes in liabilities subject to 

compromise recognized as there are changes in amounts expected to be allowed, net of interest income. 

Post-Petition Liabilities 

Post-petition liabilities reflected in the Monthly Operating Report include Accounts payable – trade creditors, Accounts payable 

– other, and Other current liabilities, excluding amounts pertaining to regulatory liabilities. 

2. CHAPTER 11 FILING 

On January 29, 2019, the Debtors filed the Chapter 11 Cases with the Bankruptcy Court. The Debtors continue to operate their 

businesses as debtors in possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable 

provisions of the Bankruptcy Code and orders of the Bankruptcy Court. 

On January 31, 2019, the Bankruptcy Court approved, on an interim basis, certain motions (the “First Day Motions”) 

authorizing, but not directing, the Debtors to, among other things, (a) secure $5.5 billion of debtor-in-possession financing; (b) 

continue to use the Debtors’ cash management system; and (c) pay certain prepetition claims relating to (i) certain safety, 

reliability, outage, and nuclear facility suppliers; (ii) shippers, warehousemen, and other lien claimants; (iii) taxes; (iv) 

employee wages, salaries, and other compensation and benefits; and (v) customer programs, including public purpose 

programs. The First Day Motions were subsequently approved by the Bankruptcy Court on a final basis at hearings on 

February 27, 2019, March 12, 2019, March 13, 2019, and March 27, 2019. 

On May 23, 2019, the Bankruptcy Court entered an order, pursuant to section 1121(d) of the Bankruptcy Code, extending the 

Debtors’ exclusive periods in which to file a chapter 11 plan (the “Exclusive Filing Period”) and solicit acceptances thereof (the 

“Exclusive Solicitation Period”) [Docket No. 2226] (the “Exclusivity Order”). Pursuant to the Exclusivity Order, the Debtors’ 

Exclusive Filing Period in which to file a chapter 11 plan is extended to and including September 26, 2019, and the Debtors’ 

Exclusive Solicitation Period in which to solicit acceptances of their chapter 11 plan is extended to and including November 26, 

2019. 

For additional information regarding the Chapter 11 Cases, refer to the website maintained by Prime Clerk, LLC, the 

Company’s claims and noticing agent, at http://restructuring.primeclerk.com/pge. 

3. INVENTORY 

Inventories are carried at weighted-average cost and include natural gas stored underground as well as materials and supplies. 

Natural gas stored underground is recorded to inventory when injected and then expensed as the gas is withdrawn for 

distribution to customers or to be used as fuel for electric generation. Materials and supplies are recorded to inventory when 

purchased and expensed or capitalized to plant, as appropriate, when consumed or installed. 

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4. ACCOUNTS RECEIVABLE 

The following reflects the balance of the Utility’s Accounts receivable – Customers as of May 31, 2019: 

(in millions) 

Accounts 

Receivable – 

Customers (Pre and 

Receivables Aging Post-Petition) 

0 -30 Days $ 649

31-60 Days 123

61-90 Days 63

91+ Days 158

Unmailed invoices 119

Total accounts receivable – Customers 1,112

Other (1) 22

Allowance for doubtful accounts (60)

Accounts receivable – Customers (net) $ 1,074

(1) Represents Department of Water Resources bond charge, credit balance reclassification, and unidentified receipts.

5. ACCOUNTS PAYABLE 

To the best of the Debtors’ knowledge, all undisputed, validated post-petition accounts payable have been and are being paid 

under agreed-upon payment terms. 

In the ordinary course, in most instances the Debtors’ process for validating items for payment to suppliers requires the 

matching of a vendor invoice with a purchase order and, additionally, with a goods receipt (reflecting the Debtors’ 

acknowledgment of the delivery of goods or completion of services). That matching process extends the timeline for a vendor 

invoice to be cleared for payment until such time as the validation operation is fully complete. The Debtors are actively 

engaged on an ongoing basis with its supplier base to minimize the invoice matching and validation time frame. To the best of 

the Debtors’ knowledge, in all instances where the invoice matching process has been satisfactorily completed for post-petition 

vendor activity, the Debtors do not have any past due post-petition accounts payable as of May 31, 2019. 

6. DEBTOR-IN-POSSESSION (“DIP”) FINANCING 

The following table summarizes the Corporation’s and the Utility’s outstanding borrowings and availability under their DIP 

credit facilities at May 31, 2019: 

(in millions) 

Credit Facility 

Limit 

Borrowings 

Against 

Term Loan

Borrowings 

Against 

Revolver 

Letters of 

Credit 

Outstanding

Available 

Facility 

PG&E Corporation $ — $ — $ — $ — $ —

Utility 5,500 (1) 1,500 — 498 3,502

Total DIP revolving credit facilities $ 5,500 $ 1,500 $ — $ 498 $ 3,502

(1) Includes $1.5 billion of letter of credit subfacility.

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7. PROPERTY, PLANT, AND EQUIPMENT 

Property, plant, and equipment are reported at the lower of their historical cost less accumulated depreciation or fair value. 

Historical costs include labor and materials, construction overhead, and allowance for funds used during construction. PG&E 

Corporation Consolidates balances of its property, plant, and equipment were as follows at May 31, 2019: 

(in millions) 

PG&E Corporation 

Consolidated 

Electric (1) $ 60,552

Gas 22,248

Construction work in progress 2,585

Other Plant in Service 20

Total property, plant, and equipment 85,405

Accumulated depreciation (25,548)

Net property, plant, and equipment $ 59,857

(1) Balance includes nuclear fuel inventories. Stored nuclear fuel inventory is stated at weighted-average cost. Nuclear fuel in the reactor is expensed as it is 

used based on the amount of energy output.

8. PAYMENT OF TAXES 

To the best of the Debtors’ knowledge, the Corporation and the Utility are current on all taxes payable. 

9. LIABILITIES SUBJECT TO COMPROMISE 

The following reflects the balance of liabilities subject to compromise (“LSTC”) as of May 31, 2019: 

(in millions) 

Pacific Gas & 

Electric Company PG&E Corporation 

PG&E Corporation 

Consolidated 

Financing Debt (1) $ 21,811 $ 650 $ 22,461

Wildfire-related Claims 14,212 — 14,212

Trade creditors 1,352 4 1,356

Non-qualified benefit plan 17 123 140

2001 bankruptcy disputed claims 221 — 221

Customer deposits & advances 277 — 277

Reserve and Others 164 3 167

Total Liabilities Subject to Compromise $ 38,054 $ 780 $ 38,834

(1) At May 31, 2019, the Corporation and the Utility had $650 million and $21,526 million in aggregate principal amount of indebtedness, respectively. Utility 

financing debt also includes $285 million of accrued contractual interest to the Petition Date.

 10. RECAPITULATION OF FUNDS HELD AT END OF MONTH 

The following reflects the bank balances of the Corporation and the Utility as of May 31, 2019: 

Legal Entity Bank Account No. 

Balance, End of 

Month (in ones) 

PG&E Corporation The Bank of New York Mellon 8400 $ 421,250,000

PG&E Corporation The Bank of New York Mellon 9023 295,648

PG&E Corporation Bank of America 7107 726,536

PG&E Corporation The Bank of New York Mellon 4558 —

PG&E Corporation Union Bank of California 9557 737

PG&E Corporation Bank of America 0X30 —

PG&E Corporation Barclays Capital Inc. 1362 —

PG&E Corporation BNP Paribas 0652 —

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PG&E Corporation Citigroup Global Markets 0473 —

PG&E Corporation Goldman, Sachs & Co 0609 —

PG&E Corporation JP Morgan Chase Bank, N.A. 0698 —

PG&E Corporation Merrill Lynch 0X30 —

PG&E Corporation Mitsubishi UFJ Securities USA, INC. 0189 —

PG&E Corporation Morgan Stanley / ISG Operations 4966 —

PG&E Corporation RBC Capital Markets 2226 —

PG&E Corporation Royal Bank of Scotland 2141 —

PG&E Corporation Wells Fargo Securities, LLC 7221 —

PG&E Corporation Bank of America 7981 —

PG&E Corporation The Bank of New York Mellon 9946 —

Pacific Gas & Electric Company The Bank of New York Mellon 8400 2,698,000,000

Pacific Gas & Electric Company Union Bank of California 5581 48,008,783

Pacific Gas & Electric Company Citibank N. A. 2091 1,226,965

Pacific Gas & Electric Company Bank of America 3212 496,683

Pacific Gas & Electric Company The Bank of New York Mellon 9994 454,703

Pacific Gas & Electric Company The Bank of New York Mellon 7822 —

Pacific Gas & Electric Company The Bank of New York Mellon 5477 —

Pacific Gas & Electric Company Royal Bank of Canada 0446 32,747

Pacific Gas & Electric Company Bank of America 7115 2,186,520

Pacific Gas & Electric Company U.S. Bank 2311 294,288

Pacific Gas & Electric Company Bank of America 2988 46,719

Pacific Gas & Electric Company The Bank of New York Mellon 3044 —

Pacific Gas & Electric Company Bank of America 2302 451,573

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 4XL9 3,040

Pacific Gas & Electric Company The Bank of New York Mellon 4122 1,000

Pacific Gas & Electric Company The Bank of New York Mellon 3532 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.2 —

Pacific Gas & Electric Company Bank of America 0817 —

Pacific Gas & Electric Company Bank of America 1675 —

Pacific Gas & Electric Company Citibank N. A. 0901 —

Pacific Gas & Electric Company Citibank N. A. 1958 —

Pacific Gas & Electric Company Citibank N. A. 2316 —

Pacific Gas & Electric Company Citigroup Global Markets 6473 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.13 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.14 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.15 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.16 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.2 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.3 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.4 —

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Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.5 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.9 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.10 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.10 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.13 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.14 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.15 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.16 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.17 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.18 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.19 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.20 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.21 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.22 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.23 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.24 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.3 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.4 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.5 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.9 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 387.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 7110 —

Pacific Gas & Electric Company The Bank of New York Mellon 8400 —

Pacific Gas & Electric Company The Bank of New York Mellon 8544 949,040

Pacific Gas & Electric Company The Bank of New York Mellon 9990 4,817,739

Pacific Gas & Electric Company The Bank of New York Mellon 4017 —

Pacific Gas & Electric Company The Bank of New York Mellon 0143 —

Pacific Gas & Electric Company Wells Fargo Bank N.A. 9578 —

Pacific Gas & Electric Company The Bank of New York Mellon 9978 —

Pacific Gas & Electric Company U.S. Bank 5000 —

Total Funds on Hand for all Accounts (1)(2) $ 3,179,242,721

(1) Schedule does not include Wells Fargo accounts 5300 and 5400; these accounts are held by grantor trusts relating to post-service benefits to directors, 

officers, and other highly paid employees, which have a combined value of $173,421,189. The grantor trusts are considered assets of the Corporation 

subject to creditor claims.

(2) Balances will not tie to the Balance Sheets as they are per bank and due to the exclusion of non-debtor bank accounts.

Case: 19-30088 Doc# 2775 Filed: 06/27/19 Entered: 06/27/19 13:30:17 Page 12

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11. CASH RECEIPTS AND DISBURSEMENTS 

The following reflects the cash receipts and disbursements of the Corporation and the Utility for the month ended May 31, 

2019: 

(in ones) 

Pacific Gas & 

Electric Company

PG&E 

Corporation 

PG&E 

Corporation 

Consolidated 

Beginning Cash (1)(2) $ 3,303,339,862 $ 421,798,666 $ 3,725,138,528

Total receipts (3) 1,582,412,913 8,881,285 1,591,294,198

Total disbursements (3) (2,128,899,199) (8,290,806) (2,137,190,005)

DIP borrowing and repayments, net (net of fees) — — —

Total Change in Cash (546,486,286) 590,479 (545,895,807)

Ending Cash (1)(2) $ 2,756,853,576 $ 422,389,145 $ 3,179,242,721

(1) Calculated using balance per bank.

(2) Balances will not tie to the Balance Sheets as they are per bank and due to the exclusion of non-debtor bank accounts.

(3) Includes intercompany receipts and disbursements between the Corporation and the Utility.

12. PAYMENTS ON PRE-PETITION DEBT 

The following reflects the payments for the month ended May 31, 2019 made in accordance with the authority granted by the 

Bankruptcy Court pursuant to the First Day Motions.

(in millions) 

First Day Motions Disbursed in Month 

Operational Integrity Supplier $ 24

Cash Management 1

NGX - CAISO 5

Public Purpose Programs 19

Shippers / Liens 7

Tax —

Employee Wage and Benefits 9

Insurance 1

503(b)(9) (1) 3

Total $ 69

(1) Pursuant to the Operational Integrity Motion Debtors are allowed to pay valid 503(b)(9) claims.

13. PAYMENTS FOR RETAINED PROFESSIONALS 

The following reflects payments made to retained bankruptcy professionals during the month ended May 31, 2019. 

(in ones) 

Name Payment Date Total Payments for the Month 

Keller & Benvenutti, LLP 5/20/2019 $ 335,160

Weil Gotshal & Manges, LLP 5/23/2019 2,620,587

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14. PAYMENTS TO INSIDERS 

The following reflects the cash payments made to insiders of the Corporation and the Utility during the month ended May 31, 

2019. 

Section 16 officers of the Corporation and/or the Utility. 

(in ones) Total Payments 

for Month Name Title (1) (2)

Loraine Giammona Senior Vice President and Chief Customer Officer $ 40,000

William “Bill” Johnson Chief Executive Officer and President, PG&E Corporation 3,241,275 (3) 

Julie Kane 

Senior Vice President, Chief Ethics and Compliance Officer, and Deputy 

General Counsel, PG&E Corporation and Pacific Gas and Electric Company 46,060

Kathleen Kay Senior Vice President and Chief Information Officer 34,666

Michael Lewis Senior Vice President, Electric Operations 37,500

Janet Loduca 

Senior Vice President and General Counsel, PG&E Corporation and Pacific 

Gas and Electric Company 51,833 (4) 

Dinyar Mistry 

Senior Vice President, Human Resources and Chief Diversity Officer, PG&E 

Corporation and Pacific Gas and Electric Company 42,667

John Simon Executive Vice President, PG&E Corporation(5) 50,317

Jesus Soto Senior Vice President, Gas Operations 47,917

David Thomason 

Vice President, Chief Financial Officer, and Controller, Pacific Gas and 

Electric Company 

Vice President and Controller, PG&E Corporation 27,083

Fong Wan Senior Vice President, Energy Policy and Procurement 34,483

Jason Wells Executive Vice President and Chief Financial Officer, PG&E Corporation 52,500

James Welsch Senior Vice President and Chief Nuclear Officer $ 156,999 (6) 

(1) Except as otherwise noted, all positions have been held at the Utility.

(2) Payments primarily consist of salary.

(3) Includes (i) one-time transition payment of $3 million for CEO and President, Corporation position, and (ii) annual perquisite allowance of $35,000 paid in 

May 2019.

(4) Includes temporary monthly compensation increase as a result promotion in January 2019 to position of Interim General Counsel. In June of 2019, Mx. 

Loduca was elected as General Counsel of the Corporation and the Utility.

(5) In June of 2019, Mr. Simon was elected as Executive Vice President, Law, Strategy and Policy of the Corporation.

(6) Includes Q1 2019 short term incentive plan payment of $115,874 paid to Mr. Welsch prior to his promotion to Senior Vice President and Chief Nuclear 

Officer in May 2019.

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Current Non-Employee Boards of Directors Members 

Employee directors of the Corporation and the Utility do not receive compensation for their service on the Board and the 

committees of the Boards. Non-employee directors of the Corporation and the Utility receive annual retainers and fees for 

serving on the Boards of Directors, that are paid quarterly. 

The following retainers are provided to each director who was not an employee of PG&E Corporation or the Utility for service 

on the Boards and their permanent standing committees. 

Board Retainer $30,000 per quarter ($120,000 annually) 

PG&E Corporation Board Chair (non-executive) $25,000 per quarter ($100,000 annually) 

Utility Board Chair (non-executive) 

Lead Director Retainer 

$7.500 per quarter ($30,000 annually) 

$12,500 per quarter ($50,000 annually) 

Committee Chair Retainers $3,750 per quarter ($15,000 annually) 

Other than: 

Audit: $12,500 per quarter ($50,000 annually) 

Compensation: $5,000 per quarter ($20,000 annually) 

Compliance and Public Policy, Finance, Nominating and Governance, and Safety and Nuclear Oversight: $3,750 per quarter 

($15,000 annually) 

Non-employee directors also were entitled to receive annual awards of stock-based compensation. For more information, see 

the Corporation and the Utility’s Schedule 14A filed with the Securities and Exchange Commission on May 17, 2019. 

The following table summarizes the principal components of compensation paid or granted to individuals for their service as 

non-employee directors of PG&E Corporation and the Utility during the month ended May 31, 2019. 

(in ones) Total 

Payments Name Director Since Board Committees (1)

Richard R. Barrera April 2019 Finance (Chair); Audit; Executive $ 30,743

Jeffrey L. Bleich April 2019 

Chair of the Board of the Utility; Compliance and Public 

Policy; Safety and Nuclear Oversight 33,792

Nora Mead Brownell April 2019 

Chair of the Board PG&E Corporation; Executive; Safety 

and Nuclear Oversight; 49,891

Frederick W. Buckman April 2019 Audit; Safety and Nuclear Oversight 23,077

Cheryl F. Campbell April 2019 

Safety and Nuclear Oversight (Chair); Compliance and 

Public Policy 30,743

Fred J. Fowler March 2012 Finance; Safety and Nuclear Oversight 30,000

Michael J. Leffell April 2019 

Nominating and Governance (Chair); Compliance and 

Public Policy; Executive 30,743

Kenneth Liang April 2019 Compensation; Finance 27,363

Dominique Mielle April 2019 Audit (Chair); Executive 38,627

Meridee A. Moore April 2019 

Compensation(Chair); Executive; Finance; Nominating

and Governance 31,869

Eric D. Mullins September 2016 Audit; Safety and Nuclear Oversight 30,000 (2) 

Kristine M. Schmidt April 2019 

Compliance and Public Policy (Chair); Executive; 

Nominating and Governance; Safety and Nuclear Oversight 30,743

Alejandro D. Wolff April 2019 Compensation; Compliance and Public Policy $ 27,363

(1) Quarterly retainer is prorated from April 2019.

(2) Eric Mullins is a participant in the Corporation’s 2005 Deferred Compensation Plan for non-employee directors. In accordance with the Plan his second 

quarter 2019 compensation was deferred and converted into phantom stock on May 10, 2019.

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Former Non-Employee Boards of Directors Members 

The following table summarizes compensation paid in May 2019 to former non-employee directors of the Corporation and the 

Utility for the second quarter of 2019, prorated to reflect time of service during the second quarter.

(in ones) Total Payments 

for Month Name Director until Board Committees (1)

Lewis Chew April 9, 2019 Audit (Chair); Compliance and Public Policy; Executive $ 4,205

Richard C. Kelly April 9, 2019 

Nominating and Governance (Chair); Audit; Nuclear, 

Operations and Safety; Executive 10,414 (2) 

Richard A. Meserve April 9, 2019 

Nuclear, Operations and Safety (Chair); Compliance and 

Public Policy; Nominating and Governance; Executive 3,339

Forrest E. Miller April 9, 2019 Compensation (Chair); Audit (Chair); Executive 4,205 (3) 

Benito Minicucci April 9, 2019 Nuclear, Operations, and Safety 2,968

Rosendo G. Parra April 9, 2019 

Compensation; Nominating and Governance; Nuclear, 

Operations and Safety 2,968

Barbara L. Rambo April 9, 2019 

Finance (Chair); Compensation; Nominating and Governance; 

Executive 3,339

Anne S. Smith April 9, 2019 

Compliance and Public P0licy; Finance; Nuclear, Operations 

and Safety $ 5,256

(1) Quarterly retainer is prorated from April 2019.

(2) Richard C. Kelly is a participant in the Corporation’s 2005 Deferred Compensation Plan for non-employee directors. In accordance with the Plan his second 

quarter 2019 compensation was deferred and converted into phantom stock on May 2, 2019.

(3) Forrest E. Miller is a participant in the Corporation’s 2005 Deferred Compensation Plan for non-employee directors. In accordance with the Plan his second 

quarter 2019 compensation was deferred and converted into phantom stock on May 2, 2019.

15. REORGANIZATION ITEMS 

The following reflects reorganization items, net, post-petition through May 31, 2019: 

(in millions) 

Pacific Gas & 

Electric Company PG&E Corporation 

PG&E Corporation 

Consolidated 

Debtor-in-possession financing costs $ 99 $ 17 $ 116

Legal and other 68 1 69

Interest income (21) (4) (25)

Adjustments to LSTC — — —

Trustee fees — (1) — —

Total reorganization items, net $ 146 $ 14 $ 160

(1) The Utility paid $249,675 in fees to the U.S. Trustee in May 2019.

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