PG&E 2013 Annual Report Download - page 99

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 11: EMPLOYEE BENEFIT PLANS (Continued)
Other Benefits
Absolute Corporate
Return Fixed-Income Real Assets Total
(in millions)
Balance as of January 1, 2012 ................... $ 47 $ 1 6 $54
Actual return on plan assets:
Relating to assets still held at the reporting date .... 2 — 1 3
Relating to assets sold during the period ......... — — — —
Purchases, issuances, sales, and settlements
Purchases .............................. — 1 21 22
Settlements ............................. — (1) — (1)
Balance as of December 31, 2012 ................ $ 49$ 1$ 28$ 78
Actual return on plan assets:
Relating to assets still held at the reporting date .... 4 — 3 7
Relating to assets sold during the period ......... — — — —
Purchases, issuances, sales, and settlements
Purchases .............................. 12 1 21 34
Settlements ............................. (12) — (14) (26)
Balance as of December 31, 2013 ................ $ 53$ 2$ 38$ 93
There were no transfers out of Level 3 in 2013 and 2012.
Cash Flow Information
Employer Contributions
PG&E Corporation and the Utility contributed $323 million to the pension benefit plans and $145 million to the
other benefit plans in 2013. These contributions are consistent with PG&E Corporation’s and the Utility’s funding
policy, which is to contribute amounts that are tax-deductible and consistent with applicable regulatory decisions and
federal minimum funding requirements. None of these pension or other benefits were subject to a minimum funding
requirement requiring a cash contribution in 2013. The Utility’s pension benefits met all the funding requirements
under ERISA. PG&E Corporation and the Utility expect to make total contributions of approximately $327 million
and $71 million to the pension plan and other postretirement benefit plans, respectively, for 2014.
Benefits Payments and Receipts
As of December 31, 2013, the estimated benefits expected to be paid and the estimated federal subsidies
expected to be received in each of the next five fiscal years, and in aggregate for the five fiscal years thereafter, are
as follows:
Pension Other Federal Subsidy
(in millions)
2014 ............................. $ 613 $ 90 $ (6)
2015 ............................. 652 95 (7)
2016 ............................. 692 100 (8)
2017 ............................. 730 107 (8)
2018 ............................. 766 113 (9)
2019 - 2023 ....................... 4,326 609 (35)
There were no material differences between the estimated benefits expected to be paid by PG&E Corporation
and paid by the Utility for the years presented above. There were also no material differences between the estimated
subsidies expected to be received by PG&E Corporation and received by the Utility for the years presented above.
93