PG&E 2007 Annual Report Download - page 91

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89
Balance at December 31,
(in millions, except share amounts) 2007 2006
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings $ 519 $ 759
Long-term debt, classifi ed as current — 1
Rate reduction bonds, classifi ed as current — 290
Energy recovery bonds, classifi ed as current 354 340
Accounts payable:
Trade creditors 1,067 1,075
Disputed claims and customer refunds 1,629 1,709
Related parties 28 40
Regulatory balancing accounts 673 1,030
Other 370 402
Interest payable 697 570
Deferred income taxes 4 118
Other 1,216 1,346
Total current liabilities 6,557 7,680
Noncurrent Liabilities
Long-term debt 7,891 6,697
Energy recovery bonds 1,582 1,936
Regulatory liabilities 4,448 3,392
Asset retirement obligations 1,579 1,466
Income taxes payable 103 —
Deferred income taxes 3,104 2,972
Deferred tax credits 99 106
Other 1,838 1,922
Total noncurrent liabilities 20,644 18,491
Commitments and Contingencies (Notes 2, 4, 5, 6, 7, 8, 9, 11, 13, 15, and 17)
Shareholders’ Equity
Preferred stock without mandatory redemption provisions:
Nonredeemable, 5.00% to 6.00%, outstanding 5,784,825 shares 145 145
Redeemable, 4.36% to 5.00%, outstanding 4,534,958 shares 113 113
Common stock, $5 par value, authorized 800,000,000 shares, issued 282,916,485 shares in 2007 and
issued 279,624,823 shares in 2006 1,415 1,398
Common stock held by subsidiary, at cost, 19,481,213 shares (475) (475)
Additional paid-in capital 2,220 1,822
Reinvested earnings 5,694 5,213
Accumulated other comprehensive income (loss) 13 (16)
Total shareholders’ equity 9,125 8,200
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 36,326 $ 34,371
CONSOLIDATED BALANCE SHEETS
Pacifi c Gas and Electric Company
See accompanying Notes to the Consolidated Financial Statements.