PG&E 2007 Annual Report Download - page 93
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91
Preferred Stock Accumulated
Without Common Other Total
Mandatory Additional Stock Comprehensive Share- Compre-
Redemption Common Paid-in Held by Reinvested Income holders’ hensive
(in millions) Provisions Stock Capital Subsidiary Earnings (Loss) Equity Income
Balance at December 31, 2004 $294 $1,606 $2,041 $(475) $ 5,667 $ (3) $ 9,130
Net income — — — — 934 — 934 $ 934
Minimum pension liability
adjustment (net of income
tax benefi t of $4 million) — — — — — (6) (6) (6)
Comprehensive income $ 928
Common stock repurchased — (208) (266) — (1,436) — (1,910)
Common stock dividend — — — — (445) — (445)
Preferred stock redeemed (36) — 1 — (2) — (37)
Preferred stock dividend — — — — (16) — (16)
Balance at December 31, 2005 258 1,398 1,776 (475) 4,702 (9) 7,650
Net income — — — — 985 — 985 $ 985
Minimum pension liability
adjustment (net of income
tax expense of $2 million) — — — — — 3 3 3
Comprehensive income $ 988
Tax benefi t from employee
stock plans — — 46 — — — 46
Common stock dividend — — — — (460) — (460)
Preferred stock dividend — — — — (14) — (14)
Adoption of SFAS No. 158
(net of income tax benefi t
of $7 million) — — — — — (10) (10)
Balance at December 31, 2006 258 1,398 1,822 (475) 5,213 (16) 8,200
Net income — — — — 1,024 — 1,024 $ 1,024
Employee benefi t plan adjustment
in accordance with SFAS
No. 158 (net of income tax
expense of $17 million) — — — — — 29 29 29
Comprehensive income $1,053
Equity infusion — 17 383 — — — 400
Tax benefi t from employee
stock plans — — 15 — — — 15
Common stock dividend — — — — (509) — (509)
Preferred stock dividend — — — — (14) — (14)
Adoption of FIN 48 — — — — (20) — (20)
Balance at December 31, 2007 $258 $1,415 $2,220 $(475) $ 5,694 $ 13 $ 9,125
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Pacifi c Gas and Electric Company
See accompanying Notes to the Consolidated Financial Statements.