PG&E 2008 Annual Report Download - page 94
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92
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, 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 contribution — 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
Net income — — — — 1,199 — 1,199 $ 1,199
Employee benefi t plan adjustment
in accordance with SFAS
No. 158 (net of income tax
expense of $159 million) — — — — — (229) (229) (229)
Comprehensive income $ 970
Equity contribution — 4 266 — — — 270
Tax benefi t from employee
stock plans — — 4 — — — 4
Common stock dividend — — — — (568) — (568)
Common stock cancelled — (97) (159) 475 (219) — —
Preferred stock dividend — — — — (14) — (14)
Balance at December 31, 2008 $258 $1,322 $2,331 $ — $6,092 $(216) $9,787
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Pacifi c Gas and Electric Company
See accompanying Notes to the Consolidated Financial Statements.