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94
PART II
ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable
inputs when measuring fair value.
Assets and liabilities measured at fair value on a recurring basis for PG&E Corporation and the Utility are summarized
below (assets held in rabbi trusts and other investments are held by PG&E Corporation and not the Utility):
FairValueMeasurements
AtDecember
(inmillions)
Level Level Level Netting
()
Total
Assets
Moneymarketinvestments  -  - - 
Nucleardecommissioningtrusts
Money market investments  - - - 
Global equity securities   - - 
Fixed-income securities   - - 
Totalnucleardecommissioningtrusts
()
  - - 
Priceriskmanagementinstruments
(Note)
Electricity -    
Gas -  - 
Totalpriceriskmanagementinstruments
-    
Rabbitrusts
Fixed-income securities -  - - 
Life insurance contracts -  - - 
Totalrabbitrusts
-  - - 
Long-termdisabilitytrust
Money market investments - - -
Global equity securities -  - - 
Fixed-income securities -  - - 
Totallong-termdisabilitytrust
  - - 
TOTALASSETS
     
Liabilities
Priceriskmanagementinstruments
(Note 9)
Electricity    ()  
Gas - - ()
TOTALLIABILITIES
   () 
() Includestheeffectofthecontractualabilitytosettlecontractsundermasternettingagreementsandmargincashcollateral
() Representsamountbeforedeductingmillionprimarilyrelatedtodeferredtaxesonappreciationofinvestmentvalue