PG&E 2008 Annual Report Download - page 92

Download and view the complete annual report

Please find page 92 of the 2008 PG&E annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

90
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
Related parties 25 28
Regulatory balancing
accounts 730 673
Other 325 370
Interest payable 802 697
Income tax payable 53 —
Deferred income taxes 257 4
Other 1,371 1,200
Total current liabilities 7,496 6,541
Noncurrent Liabilities
Long-term debt 9,041 7,891
Energy recovery bonds 1,213 1,582
Regulatory liabilities 3,657 4,448
Pension and other postretirement benefi ts 2,040 —
Asset retirement obligations 1,684 1,579
Income taxes payable 12 103
Deferred income taxes 3,449 3,104
Deferred tax credits 94 99
Other 2,064 1,838
Total noncurrent liabilities 23,254 20,644
Commitments and Contingencies
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 264,374,809 shares in 2008
and issued 282,916,485 shares in 2007 1,322 1,415
Common stock held by subsidiary, at cost, 19,481,213 shares in 2007 — (475)
Additional paid-in capital 2,331 2,220
Reinvested earnings 6,092 5,694
Accumulated other comprehensive income (loss) (216) 13
Total shareholders’ equity 9,787 9,125
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 40,537 $ 36,310
CONSOLIDATED BALANCE SHEETS
Pacifi c Gas and Electric Company
See accompanying Notes to the Consolidated Financial Statements.