EXHIBIT 99.1

 MONTHLY OPERATING REPORT

 (GENERAL BUSINESS CASE) 

SUMMARY OF FINANCIAL STATUS

MONTH ENDED: September 30, 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 $ 11,577 $ 11,713 $ 9,091

b. Total Assets $ 85,713 $ 85,169 $ 79,809

c. Current Liabilities $ 6,472 $ 6,469 $ 3,740

d. Total Liabilities $ 76,722 $ 74,332 $ 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 $ 2,260 $ 2,084 $ 17,408

b. Total Disbursements $ (2,120) $ (2,384) $ (15,393)

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

b) $ 140 $ (300) $ 2,015

d. Cash Balance Beginning of Month $ 2,785 $ 3,085 $ 910

e. Cash Balance End of Month (c + d) $ 2,925 $ 2,785 $ 2,925

End of Current 

Month

End of Prior 

Month

Cumulative

(Case to Date)(1)

4. Profit/(Loss) from the Statement of Operations $ (1,862) $ 135 $ (4,040)

5. Account Receivables (Pre and Post-Petition) $ 5,047 $ 5,244

6. Post-Petition Liabilities $ 4,536 $ 3,766

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 September 30, 2019.

1

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 1 of

17
Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 2 of

17
UNAUDITED STATEMENTS OF INCOME

FOR THE MONTH ENDED SEPTEMBER 30, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Operating Revenues

Electric $ 1,239 $ — $ 1,239

Natural gas 240 — 240

Total operating revenues 1,479 — 1,479

Operating Expenses

Cost of electricity 298 — 298

Cost of natural gas 23 — 23

Operating and maintenance 874 — 874

Wildfire-related claims, net of insurance 2,548 — 2,548

Depreciation, amortization, and decommissioning 304 — 304

Total operating expenses 4,047 — 4,047

Operating Income (Loss) (2,568) — (2,568)

Interest income 6 — 6

Interest expense (16) — (16)

Other income (expense), net 21 (1) 20

Reorganization items, net Item 15 (14) (3) (17)

Income (Loss) Before Income Taxes (2,571) (4) (2,575)

Income tax provision (benefit) (721) 7 (714)

Net Income (Loss) (1,850) (11) (1,861)

Preferred stock dividend requirement 1 — 1

Income (Loss) Attributable to Common Stock $ (1,851) $ (11) $ (1,862)

3

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 3 of

17
UNAUDITED STATEMENTS OF INCOME

PETITION DATE THROUGH SEPTEMBER 30, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Operating Revenues

Electric $ 9,291 $ — $ 9,291

Natural gas 3,093 — 3,093

Total operating revenues 12,384 — 12,384

Operating Expenses

Cost of electricity 2,505 — 2,505

Cost of natural gas 515 — 515

Operating and maintenance 6,251 (17) 6,235

Wildfire-related claims, net of insurance 6,448 — 6,448

Depreciation, amortization, and decommissioning 2,434 — 2,433

Total operating expenses 18,153 (17) 18,136

Operating Income (Loss) (5,769) 17 (5,752)

Interest income 62 1 63

Interest expense (213) (2) (215)

Other income, net 189 10 199

Reorganization items, net Item 15 (237) (19) (256)

Income (Loss) Before Income Taxes (5,968) 7 (5,961)

Income tax provision (benefit) (1,942) 11 (1,931)

Net Income (Loss) (4,026) (4) (4,030)

Preferred stock dividend requirement 10 — 10

Income (Loss) Attributable to Common Stock $ (4,036) $ (4) $ (4,040)

4

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 4 of

17
UNAUDITED BALANCE SHEETS

AS OF SEPTEMBER 30, 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 $ 2,539 $ 431 $ 2,970

Accounts receivable

Customers (net of allowance for doubtful 

accounts of $41) Item 4 1,397 — 1,397

Accrued unbilled revenue 1,023 — 1,023

Regulatory balancing accounts 1,919 — 1,919

Other 2,639 100 2,627

Regulatory assets 314 — 314

Inventories Item 3

Gas stored underground and fuel oil 110 — 110

Materials and supplies 525 — 525

Income taxes receivable 4 2 15

Other 666 11 677

Total current assets 11,136 544 11,577

Property, Plant, and Equipment

Electric 61,797 — 61,797

Gas 22,741 — 22,741

Construction work in progress 2,689 — 2,689

Other Plant in Service 18 2 20

Total property, plant, and equipment 87,245 2 87,247

Accumulated depreciation (25,920) (2) (25,923)

Net property, plant, and equipment Item 7 61,325 — 61,324

Other Noncurrent Assets

Regulatory assets 5,711 — 5,711

Nuclear decommissioning trusts 3,061 — 3,061

Operating lease right of use asset 2,427 8 2,435

Income taxes receivable 66 84 67

Other 1,394 12,896 1,538

Total other noncurrent assets 12,659 12,988 12,812

TOTAL ASSETS $ 85,120 $ 13,532 $ 85,713

5

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 5 of

17
UNAUDITED BALANCE SHEETS

AS OF SEPTEMBER 30, 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 1,841 3 1,844

Regulatory balancing accounts 1,655 — 1,655

Other 650 19 558

Operating lease liabilities 550 3 553

Disputed claims and customer refunds — — —

Interest payable 5 — 5

Other 1,857 (6) 1,857

Total current liabilities 6,558 19 6,472

Noncurrent Liabilities

Long-term debt — — —

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

Regulatory liabilities 9,336 — 9,336

Pension and other postretirement benefits 1,986 — 1,986

Asset retirement obligations 6,259 — 6,259

Deferred income taxes Item 8 1,839 (118) 1,721

Operating lease liabilities 1,877 5 1,882

Other 2,528 59 2,473

Total noncurrent liabilities 25,325 (54) 25,157

Liabilities Subject to Compromise(1)

Item 9 44,309 784 45,093

Shareholders’ Equity

Preferred stock 258 — —

Common stock 1,322 13,047 13,027

Additional paid-in capital 8,550 — —

Reinvested earnings (1,201) (255) (4,279)

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

Total shareholders’ equity 8,928 12,783 8,739

Noncontrolling Interest - Preferred Stock of 

Subsidiary — — 252

TOTAL LIABILITIES AND SHAREHOLDERS’ 

EQUITY $ 85,120 $ 13,532 $ 85,713

6

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 6 of

17
UNAUDITED STATEMENTS OF CASH FLOWS

AS OF SEPTEMBER 30, 2019

(in millions)

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Cash Flows from Operating Activities

Net loss(1)$ (4,027) $ (2) $ (4,029)

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization, and decommissioning 2,433 — 2,433

Allowance for equity funds used during construction (64) — (64)

Deferred income taxes and tax credits, net (1,555) 7 (1,548)

Reorganization items, net (Item 15) 92 6 97

Disallowed capital expenditures 232 — 232

Other 79 33 112

Effect of changes in operating assets and liabilities:

Accounts receivable (274) 10 (264)

Wildfire-related insurance receivable 35 — 35

Inventories (68) — (68)

Accounts payable 418 (47) 371

Wildfire-related claims (114) — (114)

Income taxes receivable/payable 1 7 8

Other current assets and liabilities 9 (15) (7)

Regulatory assets, liabilities, and balancing accounts, net 90 — 90

Liabilities subject to compromise 6,695 9 6,704

Other noncurrent assets and liabilities 96 (16) 79

Net cash provided by operating activities 4,078 (11) 4,067

Cash Flows from Investing Activities

Capital expenditures (4,192) — (4,192)

Proceeds from sales and maturities of nuclear decommissioning trust investments 808 — 808

Purchases of nuclear decommissioning trust investments (874) — (874)

Other 8 — 8

Net cash used in investing activities (4,250) — (4,250)

Cash Flows from Financing Activities

Proceeds from debtor-in-possession credit facility 1,850 — 1,850

Repayments of debtor-in-possession credit facility (350) — (350)

Debtor-in-possession credit facility debt issuance costs (98) (16) (114)

Common stock issued — 85 85

Other 14 — 14

Net cash provided by financing activities 1,416 69 1,485

Net change in cash, cash equivalents, and restricted cash 1,244 58 1,302

Cash, cash equivalents, and restricted cash at January 1 1,302 373 1,675

Cash, cash equivalents, and restricted cash at September 30 $ 2,546 $ 431 $ 2,977

Less: Restricted cash and restricted cash equivalents included in other current assets (7) — (7)

Cash and cash equivalents at September 30 $ 2,539 $ 431 $ 2,970

(1)

 Net loss is for nine months ended September 30, 2019 and will not agree to net loss as shown in Petition to Date Income Statement. 

7

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 7 of

17
Supplemental disclosures of cash flow information

Cash paid for:

Interest, net of amounts capitalized $ (36) $ (2) $ (38)

Supplemental disclosures of noncash operating activities

Operating lease liabilities arising from obtaining ROU assets $ 2,807 $ 9 $ 2,816

Supplemental disclosures of noncash investing and financing activities

Capital expenditures financed through accounts payable $ 981 $ — $ 981

8

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 8 of

17
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 Debtors’ 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 

(the “UCC”). On February 15, 2019, the U.S. Trustee appointed an Official Committee of Tort Claimants (the “TCC”).

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.

9

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 9 of

17
Liabilities Subject to Compromise 

As a result of the Chapter 11 Cases, the payment of pre-petition 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 pre-petition 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 and the Debtors’ cash management system; and (c) pay certain pre-petition 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 July 1, 2019, the Bankruptcy Court entered an order approving a deadline of October 21, 2019, at 5:00 p.m. (Pacific Time) 

(the “Bar Date”) for filing claims against PG&E Corporation and the Utility relating to the period prior to the Petition Date. The 

Bar Date is subject to certain exceptions, including for claims arising under section 503(b)(9) of the Bankruptcy Code, the Bar 

Date for which occurred on April 22, 2019. The Bankruptcy Court also approved PG&E Corporation’s and the Utility’s plan to 

provide notice of the Bar Date to parties in interest, including potential wildfire-related claimants and other potential creditors. 

On October 18, 2019, the TCC filed with the Bankruptcy Court a motion for entry of an order extending the Bar Date for 

individual wildfire-related claims. On October 28, 2019, PG&E Corporation and the Utility announced that they had offered to 

extend the Bar Date for individual wildfire-related claims from October 21, 2019 to December 20, 2019. On the same day, 

during a meet and confer between PG&E Corporation and the Utility and the TCC, and at the request of the TCC, PG&E 

Corporation and the Utility agreed to further extend the Bar Date for individual wildfire-related claims to December 31, 2019. 

On November 4, 2019, PG&E Corporation and the Utility and the TCC announced that they have reached agreement to an 

extension of the Bar Date for individual wildfire-related claims to December 31, 2019, which agreement also involves 

procedures for additional notice to potential individual wildfire claimants. PG&E Corporation and the Utility and the TCC will 

file a stipulation with the Bankruptcy Court detailing the terms of the agreement and seeking approval of their agreement.

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, as well as to the Debtors' annual report on 

Form 10-K for the year ended December 31, 2018, their joint quarterly reports on Form 10-Q for the quarters ended March 31, 

2019, June 30, 2019 and September 30, 2019, and other reports filed with the SEC, which are available on PG&E Corporation's 

website at www.pgecorp.com and on the SEC website at www.sec.gov. The Debtors also routinely post or provide links to 

certain documents and information related to the Chapter 11 Cases at http://investor.pgecorp.com, under the “Chapter 11” tab.

10

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 10

of 17
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.

4. ACCOUNTS RECEIVABLE

The following reflects the balance of the Utility’s Accounts receivable – Customers as of September 30, 2019:

(in millions) Accounts Receivable 

– Customers (Pre 

Receivables Aging and Post-Petition)

0 -30 Days $ 891

31-60 Days 171

61-90 Days 57

91+ Days 158

Unmailed invoices 156

Total accounts receivable – Customers 1,433

Other(1)5

Allowance for doubtful accounts (41)

Accounts receivable – Customers (net) $ 1,397

(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 September 30, 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 September 30, 2019:

(in millions)

Aggregate 

Limit

Term Loan 

Borrowings

Revolver 

Borrowings

Letters of 

Credit 

Outstanding

Aggregate 

Availability

PG&E Corporation $ — $ — $ — $ — $ —

Utility 5,500 (1)1,500 — 590 3,410

Total DIP credit facilities $ 5,500 $ 1,500 $ — $ 590 $ 3,410

(1)

Includes $1.5 billion of letter of credit subfacility.

11

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 11

of 17
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 Consolidated balances of its property, plant, and equipment were as follows at September 30, 2019:

(in millions)

PG&E Corporation 

Consolidated

Electric (1)$ 61,797

Gas 22,741

Construction work in progress 2,689

Other Plant in Service 20

Total property, plant, and equipment 87,247

Accumulated depreciation (25,923)

Net property, plant, and equipment $ 61,324

(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 September 30, 2019:

(in millions)

Pacific Gas & 

Electric Company PG&E Corporation

PG&E Corporation 

Consolidated

Financing Debt (1)$ 21,813 $ 650 $ 22,463

Wildfire-related Claims(2)20,560 — 20,560

Trade creditors 1,253 6 1,259

Non-qualified benefit plan 18 126 144

2001 bankruptcy disputed claims 221 — 221

Customer deposits & advances 278 — 278

Others 166 2 168

Total Liabilities Subject to Compromise $ 44,309 $ 784 $ 45,093

(1)

At September 30, 2019, the Debtors had $650 million and $21,526 million in aggregate principal amount of pre-petition indebtedness, respectively. Utility 

pre-petition financing debt also includes $287 million of accrued contractual interest to the Petition Date. 

(2)

 The Utility recognized charges of $526 million and $2.0 billion associated with the 2018 Camp fire and 2017 Northern California wildfires, respectively, in 

connection with the Debtors’ settlement with certain holders of insurance subrogation claims entered into on September 22, 2019 to potentially resolve all 

insurance subrogation claims relating to the 2018 Camp fire and the 2017 Northern California wildfires. Wildfire-related claims include aggregate liability 

accruals of $12.9 billion for the 2018 Camp fire, $7.5 billion for the 2017 Northern California wildfires and $212 million for the Butte fire and is shown net 

of $100 million deposited into the Wildfire Assistance Fund on August 2, 2019 in connection with potential liabilities related to the 2018 Camp fire and the 

2017 Northern California wildfires. For additional information on pre-petition wildfire-related claims reported as LSTC, please see Note 10 of the Notes to 

the Condensed Consolidated Financial Statements in the Debtors’ joint quarterly report on Form 10-Q for the three months ended September 30, 2019.

 10. RECAPITULATION OF FUNDS HELD AT END OF MONTH

The following reflects the bank balances of the Corporation and the Utility as of September 30, 2019:

Legal Entity Bank Account No.

Balance, End of 

Month (in ones)

PG&E Corporation The Bank of New York Mellon 8400 $ 431,000,000

PG&E Corporation The Bank of New York Mellon 9023 —

PG&E Corporation Bank of America 7107 —

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

12

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 12

of 17
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 —

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 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 2,205,500,000

Pacific Gas & Electric Company Union Bank of California 5581 279,219,929

Pacific Gas & Electric Company Citibank N. A. 2091 470,059

Pacific Gas & Electric Company Bank of America 3212 1,074,728

Pacific Gas & Electric Company The Bank of New York Mellon 9994 595,669

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 401,312

Pacific Gas & Electric Company Bank of America 7115 —

Pacific Gas & Electric Company U.S. Bank 2311 622,541

Pacific Gas & Electric Company Bank of America 2988 46,725

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

Pacific Gas & Electric Company Bank of America 2302 704,964

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 —

13

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 13

of 17
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 —

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 3,915

Pacific Gas & Electric Company The Bank of New York Mellon 9990 4,935,707

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 999,127

Pacific Gas & Electric Company Bank of America 2520 —

Total Funds on Hand for all Accounts(1)(2)(3)$ 2,925,579,453

14

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 14

of 17
(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 $176,393,818. The grantor trusts are considered assets of the Corporation 

subject to creditor claims.

(2)

 Bank account RBS 066002141 is no longer listed above, the account had been closed for a significant period of time prior to the Petition Date.

(3)

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

11. CASH RECEIPTS AND DISBURSEMENTS

The following reflects the cash receipts and disbursements of the Corporation and the Utility for the month ended September 

30, 2019:

(in ones)

Pacific Gas & 

Electric Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Beginning Cash(1)(2)$ 2,354,772,083 $ 430,196,389 $ 2,784,968,472

Total receipts(3)2,254,552,509 5,311,973 2,259,864,482

Total disbursements(3)(2,114,745,876) (4,507,625) (2,119,253,501)

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

Total Change in Cash 139,806,633 804,348 140,610,981

Ending Cash(1)(2)$ 2,494,578,716 $ 431,000,737 $ 2,925,579,453

(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 September 30, 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 $ 4

Cash Management —

NGX - CAISO —

Public Purpose Programs 5

Shippers / Liens 4

Tax 1

Employee Wage and Benefits 1

Insurance —

503(b)(9)(1) —

Total $ 15

(1)

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

15

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 15

of 17
13. PAYMENTS FOR RETAINED PROFESSIONALS

The following reflects payments made to retained bankruptcy professionals during the month ended September 30, 2019.

(in ones)

Name Payment Date Total Payments for the Month

AP Services, LLP 9/4 & 9/19/2019 $ 8,782,370

Axiom Services Inc 9/13 & 9/28/2019 6,319

Baker & Hostetler LLP 9/24 & 9/28/2019 2,829,129

Coblentz Patch Duffy & Bass LLP 9/23 & 9/26/2019 256,801

Cravath Swaine & Moore LLP 9/7, 9/10, 9/11, 9/24, 9/25, & 9/26/2019 12,446,632

Jenner & Block LLP 9/7/2019 2,035,229

Keller & Benvenutti LLP 9/5 & 9/24/2019 316,717

KPMG LLP 9/7/2019 1,070,755

Lincoln Partners Advisors LLC 9/27/2019 908,369

Milbank LLP 9/27/2019 1,716,278

Munger Tolles & Olson LLP 9/5, 9/6, & 9/16/2019 5,422,560

Simpson Thacher & Bartlett LLP 9/5/2019 402,589

Weil Gotshal & Manges LLP 9/6/2019 1,920,743

Total $ 38,114,491

16

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 16

of 17
14. PAYMENTS TO INSIDERS

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

30, 2019. Other than reimbursement for reasonable expenses incurred in connection with attending Board of Directors 

meetings, Board of Directors committee meetings, or participating in other activities undertaken on behalf of the Corporation 

and the Utility, there were no payments made to non-employee directors during the reporting period.

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

(in ones) Total Payments 

for Month(1) Name Title

Melvin J. Christopher Vice President, Gas Operations, Pacific Gas and Electric Company $ 25,567 (2)

Loraine M. Giammona

Senior Vice President and Chief Customer Officer, Pacific Gas and Electric 

Company 42,083

William D. Johnson Chief Executive Officer and President, PG&E Corporation 231,462 (3)

Julie M. Kane

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

General Counsel, PG&E Corporation and Pacific Gas and Electric Company 40,259

Kathleen B. Kay

Senior Vice President and Chief Information Officer, Pacific Gas and Electric 

Company 34,666

Michael A. Lewis Senior Vice President, Electric Operations, Pacific Gas and Electric 

Company

44,167

Janet C. Loduca

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

Gas and Electric Company 47,917

Dinyar B. Mistry

Senior Vice President, Human Resources and Shared Services, PG&E 

Corporation and Pacific Gas and Electric Company 47,083

John R. Simon Executive Vice President, Law, Strategy, and Policy, PG&E Corporation 57,917

David S. Thomason

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

Electric Company

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

Andrew M. Vesey Chief Executive Officer and President, Pacific Gas and Electric Company 104,644 (4)

Fong Wan

Senior Vice President, Energy Policy and Procurement, Pacific Gas and 

Electric Company 34,483

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

James M. Welsch

Senior Vice President and Chief Nuclear Officer , Pacific Gas and Electric 

Company 45,417

(1)

Payments primarily consist of salary.

(2)

Effective October 7, 2019, Mr. Christopher is no longer an employee of the Utility. 

(3)

 Includes relocation pay of $23,129 paid in September 2019.

(4)

 Includes relocation pay of $21,311 paid in September 2019.

15. REORGANIZATION ITEMS

The following reflects reorganization items, net, post-petition through September 30, 2019:

(in millions)

Pacific Gas & 

Electric Company PG&E Corporation

PG&E Corporation 

Consolidated

Debtor-in-possession financing costs $ 97 $ 17 $ 114

Legal and other (1)181 10 191

Interest income (41) (8) (49)

Adjustments to LSTC — — —

Total reorganization items, net $ 237 $ 19 $ 256

(1)

 At September 30, 2019, the Corporation and the Utility incurred $666,985 and $916,640, respectively, in fees to the U.S. Trustee.

17

Case: 19-30088 Doc# 4619 Filed: 11/08/19 Entered: 11/08/19 12:00:23 Page 17

of 17