PG&E 2007 Annual Report Download - page 35

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33
(in millions, except per share amounts) 2007 2006 2005 2004(1) 2003
PG&E Corporation(2)
For the Year
Operating revenues $13,237 $12,539 $11,703 $11,080 $10,435
Operating income 2,114 2,108 1,970 7,118 2,343
Income from continuing operations 1,006 991 904 3,820 791
Earnings per common share from continuing operations, basic 2.79 2.78 2.37 9.16 1.96
Earnings per common share from continuing operations, diluted 2.78 2.76 2.34 8.97 1.92
Dividends declared per common share(3) 1.44 1.32 1.23 — —
At Year-End
Book value per common share(4) $ 22.91 $ 21.24 $ 19.94 $ 20.90 $ 10.16
Common stock price per share 43.09 47.33 37.12 33.28 27.77
Total assets 36,648 34,803 34,074 34,540 30,175
Long-term debt (excluding current portion) 8,171 6,697 6,976 7,323 3,314
Rate reduction bonds (excluding current portion) — — 290 580 870
Energy recovery bonds (excluding current portion) 1,582 1,936 2,276 — —
Financial debt subject to compromise — — — — 5,603
Preferred stock of subsidiary with mandatory redemption provisions — — — 122 137
Pacifi c Gas and Electric Company
For the Year
Operating revenues $13,238 $12,539 $11,704 $11,080 $10,438
Operating income 2,125 2,115 1,970 7,144 2,339
Income available for common stock 1,010 971 918 3,961 901
At Year-End
Total assets $36,326 $34,371 $33,783 $34,302 $29,066
Long-term debt (excluding current portion) 7,891 6,697 6,696 7,043 2,431
Rate reduction bonds (excluding current portion) — — 290 580 870
Energy recovery bonds (excluding current portion) 1,582 1,936 2,276 — —
Financial debt subject to compromise — — — — 5,603
Preferred stock with mandatory redemption provisions — — — 122 137
(1) Financial data refl ects the recognition of regulatory assets provided under the December 19, 2003 settlement agreement entered into among PG&E
Corporation, Pacifi c Gas and Electric Company, and the California Public Utilities Commission to resolve Pacifi c Gas and Electric Company’s
proceeding under Chapter 11 of the U.S. Bankruptcy Code. Pacifi c Gas and Electric Company’s reorganization under Chapter 11 became effective
on April 12, 2004.
(2) Matters relating to discontinued operations are discussed in the section entitled “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and in Note 7 of the Notes to the Consolidated Financial Statements.
(3) The Board of Directors of PG&E Corporation declared a cash dividend of $0.30 per quarter for the fi rst three quarters of 2005. In the fourth quarter
of 2005, the Board of Directors increased the quarterly cash dividend to $0.33 per share. Beginning in the fi rst quarter of 2007, the Board of Directors
increased the quarterly cash dividend to $0.36 per share. See Note 8 of the Notes to the Consolidated Financial Statements.
(4) Book value per common share includes the effect of participating securities. The dilutive effect of outstanding stock options and restricted stock are
further disclosed in Note 10 of the Notes to the Consolidated Financial Statements.
SELECTED FINANCIAL DATA