PG&E 2015 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2015 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 152

  • 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
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Consolidated Balance Sheets ................................................................................................................................................................................................................................................ 64
Consolidated Statements of Cash Flows ............................................................................................................................................................................................. 66
Consolidated Statements of Equity .................................................................................................................................................................................................................... 68
Pacific Gas and Electric Company ............................................................................................................................................................................................................................... 69
Consolidated Statements of Income ................................................................................................................................................................................................................ 69
Consolidated Statements of Comprehensive Income ................................................................................................................................... 70
Consolidated Balance Sheets ...................................................................................................................................................................................................................................................71
Consolidated Statements of Cash Flows ..............................................................................................................................................................................................73
Consolidated Statements of Shareholders’ Equity .................................................................................................................................................. 75
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ........................................................................................................................................................................................................ 76
NOTE 1:
Organization and Basis of Presentation .......................................................................................................................................................................................................76
NOTE 2:
Summary of Significant Accounting Policies ................................................................................................................................................................................. 76
NOTE 3:
Regulatory Assets, Liabilities, and Balancing Accounts ..................................................................................................................................81
NOTE 4:
Debt ........................................................................................................................................................................................................................................................................................................................................................................ 84
NOTE 5:
Common Stock and Share-Based Compensation ........................................................................................................................................................... 86
NOTE 6:
Preferred Stock ......................................................................................................................................................................................................................................................................................................................88
NOTE 7:
Earnings Per Share ......................................................................................................................................................................................................................................................................................................88
NOTE 8:
Income Taxes ............................................................................................................................................................................................................................................................................................................................... 89
NOTE 9:
Derivatives ...........................................................................................................................................................................................................................................................................................................................................92
NOTE 10:
Fair Value Measurements .........................................................................................................................................................................................................................................................................93
NOTE 11:
Employee Benefit Plans ............................................................................................................................................................................................................................................................................... 98
NOTE 12:
Related Party Agreements And Transactions ......................................................................................................................................................................... 106
NOTE 13:
Contingencies and Commitments ..............................................................................................................................................................................................................................107
Quarterly Consolidated Financial Data (Unaudited)............................................................................................................................................................................................... 115
Management’s Report on Internal Control Over Financial Reporting .................................................................................................................. 117
Report of Independent Registered Public Accounting Firm ........................................................................................................................................................... 118
ITEM 9.
Changes In and Disagreements with Accountants on Accounting
and Financial Disclosure ........................................................................................................................................................................................................................................................................ 120
ITEM 9A.
Controls and Procedures ...................................................................................................................................................................................................................................................................... 120
ITEM 9B.
Other Information...................................................................................................................................................................................................................................................................................................... 120
PART III
121
ITEM 10.
Directors, Executive Ocers and Corporate Governance ....................................................................................................................121
ITEM 11.
Executive Compensation ...................................................................................................................................................................................................................................................................... 122
ITEM 12.
Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters ................................................................................................................................................................................................................................ 122
ITEM 13.
Certain Relationships and Related Transactions, and Director Independence .......................... 123
ITEM 14.
Principal Accountant Fees and Services ................................................................................................................................................................................................. 123
PART IV
124
ITEM 15.
Exhibits and Financial Statement Schedules ............................................................................................................................................................................. 124
Signatures ........................................................................................................................................................................................................................................................................................................................................................................................... 132
Report of Independent Registered Public Accounting Firm .........................................................................................................................................................134
TABLE OF CONTENTS