PG&E 2013 Annual Report Download - page 111

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QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)
Quarter ended
December 31 September 30 June 30 March 31
(in millions, except per share amounts)
2013
PG&E CORPORATION
Operating revenues .......................... $ 3,975 $ 4,175 $ 3,776 $ 3,672
Operating income ........................... 333 291 636 502
Income tax (benefit) provision .................. 25 (24) 153 114
Net income ................................ 90 164 332 242
Income available for common shareholders ......... 86 161 328 239
Comprehensive income ....................... 210 165 352 252
Net earnings per common share, basic ............ 0.19 0.36 0.74 0.55
Net earnings per common share, diluted ........... 0.19 0.36 0.74 0.55
Common stock price per share:
High................................... 42.75 46.37 48.44 44.53
Low ................................... 40.07 40.76 43.59 40.47
UTILITY
Operating revenues .......................... $ 3,973 $ 4,174 $ 3,775 $ 3,671
Operating income ........................... 360 292 635 503
Income tax (benefit) provision .................. 65 (20) 160 121
Net income ................................ 138 162 329 237
Income available for common stock .............. 134 159 325 234
Comprehensive income ....................... 231 166 333 242
2012
PG&E CORPORATION
Operating revenues .......................... $ 3,830 $ 3,976 $ 3,593 $ 3,641
Operating income ........................... 125 614 467 487
Income tax (benefit) provision .................. (54) 100 87 104
Net income (loss) ........................... (9) 364 239 236
Income (loss) available for common shareholders .... (13) 361 235 233
Comprehensive income ....................... 77 372 247 246
Net earnings (loss) per common share, basic ........ (0.03) 0.84 0.56 0.56
Net earnings (loss) per common share, diluted ...... (0.03) 0.84 0.55 0.56
Common stock price per share:
High................................... 43.48 46.51 45.20 43.72
Low ................................... 39.71 42.41 42.04 40.16
UTILITY
Operating revenues .......................... $ 3,829 $ 3,974 $ 3,592 $ 3,640
Operating income ........................... 127 613 467 488
Net income ................................ 13 340 227 231
Income tax provision ......................... (30) 122 93 113
Income available for common stock .............. 9 337 223 228
Comprehensive income ....................... 96 348 235 241
The Utility recorded a charge to net income of $196 million in the third quarter of 2013 and $353 million during
the fourth quarter 2012, for disallowed capital expenditures associated with the Utility’s pipeline safety enhancement
plan. See Note 14 of the Notes to the Consolidated Financial Statements.
The Utility recorded a provision of $110 million and $80 million in the third quarter 2013 and in the second
quarter 2012, respectively, for estimated third-party claims related to the San Bruno accident. During the second
quarter 2013 and third quarter 2013, the Utility recognized $45 million and $25 million, respectively, for insurance
claims. During the first quarter 2012, second quarter of 2012, third quarter of 2012, and fourth quarter 2012 the
Utility recognized $11 million, $25 million, $99 million, and $50 million, respectively, for insurance recoveries. See
Note 14 of the Notes to the Consolidated Financial Statements.
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