PG&E 2008 Annual Report Download - page 87

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85
Balance at December 31,
(in millions, except share amounts) 2008 2007
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings $ 287 $ 519
Long-term debt, classifi
ed as current 600 —
Energy recovery bonds, classifi ed as current 370 354
Accounts payable:
Trade
creditors 1,096 1,067
Disputed claims and customer refunds 1,580 1,629
Regulatory balancing
accounts 730 673
Other 343 394
Interest payable 802 697
Deferred income taxes 251 —
Other 1,567 1,374
Total current liabilities 7,626 6,707
Noncurrent Liabilities
Long-term debt 9,321 8,171
Energy recovery bonds 1,213 1,582
Regulatory liabilities 3,657 4,448
Pension and other postretirement benefi ts 2,088 —
Asset retirement obligations 1,684 1,579
Income taxes payable 35 234
Deferred income taxes 3,397 3,053
Deferred tax credits 94 99
Other 2,116 1,954
Total noncurrent liabilities 23,605 21,120
Commitments and Contingencies
Preferred Stock of Subsidiaries 252 252
Preferred Stock
Preferred stock, no par value, authorized 80,000,000 shares, $100 par value,
authorized 5,000,000 shares, none issued — —
Common Shareholders’ Equity
Common stock, no par value, authorized 800,000,000 shares, issued 361,059,116 common
and 1,287,569 restricted shares in 2008 and issued 378,385,151 common and
1,261,125 restricted shares in 2007 5,984 6,110
Common stock held by subsidiary, at cost, 24,665,500 shares in 2007 — (718)
Reinvested earnings 3,614 3,151
Accumulated other comprehensive income (loss) (221) 10
Total common shareholders’ equity 9,377 8,553
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 40,860 $ 36,632
CONSOLIDATED BALANCE SHEETS
PG&E Corporation
See accompanying Notes to the Consolidated Financial Statements.