PG&E 2009 Annual Report Download - page 91

Download and view the complete annual report

Please find page 91 of the 2009 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 124

  • 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

PG&E Corporation
Fair Value Measurements at December 31, 2008
(in millions) Level 1 Level 2 Level 3 Total
Assets:
Money market investments (held by PG&E Corporation) $ 164 $ — $ 12 $ 176
Nuclear decommissioning trusts
Equity securities 893 — 5 898
U.S. government and agency issues 603 86 — 689
Municipal bonds and other 9 203 — 212
Total nuclear decommissioning trusts(1) 1,505 289 5 1,799
Rabbi trusts 66 — — 66
Long-term disability trust
Equity securities 99 — 54 153
Corporate debt securities — — 24 24
Total long-term disability trust 99 — 78 177
Total assets $1,834 $289 $ 95 $2,218
Liabilities:
Dividend participation rights $ — $ — $ 42 $ 42
Price risk management instruments(2) (49) 123 156 230
Other —— 2 2
Total liabilities $ (49) $123 $200 $ 274
(1) Excludes taxes on appreciation of investment value.
(2) Balances include the impact of netting adjustments of $159 million to Level 1, $32 million to Level 2, and $76 million to Level 3.
Utility
Fair Value Measurements at December 31, 2009
(in millions) Level 1 Level 2 Level 3 Total
Assets:
Nuclear decommissioning trusts
Equity securities $1,106 $ 6 $ — $1,112
U.S. government and agency issues 653 51 — 704
Municipal bonds and other 1 197 — 198
Total nuclear decommissioning trusts(1) 1,760 254 — 2,014
Long-term disability trust
Equity securities 52 23 — 75
Corporate debt securities — 113 — 113
Total long-term disability trust 52 136 — 188
Total assets $1,812 $390 $ — $2,202
Liabilities:
Price risk management instruments(2) $ 3 $ 73 $217 $ 293
Other —— 3 3
Total liabilities $ 3 $ 73 $220 $ 296
(1) Excludes deferred taxes on appreciation of investment value.
(2) Balances include the impact of netting adjustments of $108 million to Level 1, $48 million to Level 2, and $32 million to Level 3.
87