PG&E 2015 Annual Report Download - page 6

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Financial Highlights
(1)
PG&E Corporation
(unauditedinmillionsexceptshareandpershareamounts)  
OperatingRevenues    
IncomeAvailableforCommonShareholders
Earnings from operations(2)  
Items impacting comparability(3)
Pipeline-related expenses(4) () –
Legal and regulatory related expenses(5) () –
Fines and penalties(6) () –
Insurance recoveries(7)  –
Natural gas matters(8) – ()
Environmental-related costs(9) –
Reported consolidated income available for common shareholders  
IncomePerCommonSharediluted
Earnings from operations(2)  
Items impacting comparability(3)
Pipeline-related expenses(4) () –
Legal and regulatory related expenses(5) () –
Fines and penalties(6) () –
Insurance recoveries(7)  –
Natural gas matters(8) – ()
Environmental-related costs(9) – 
Reported consolidated net earnings per common share, diluted  
DividendsDeclaredPerCommonShare  
TotalAssetsatDecember    
NumberofcommonsharesoutstandingatDecember  
() ThisisacombinedannualreportofPG&ECorporationandPacificGasandElectricCompany(the“Utility”)PG&ECorporation’s
ConsolidatedFinancialStatementsincludetheaccountsofPG&ECorporationtheUtilityandotherwhollyownedand
controlledsubsidiariesandhavebeenpreparedinaccordancewithGenerallyAcceptedAccountingPrinciples(“GAAP”)
() “Earningsfromoperations”isanon-GAAPfinancialmeasureandiscalculatedasconsolidatedincomeavailableforcommon
shareholdersless“Itemsimpactingcomparability”asdescribedinNote()belowPG&ECorporationusesearningsfrom
operationstounderstandandcompareoperatingresultsacrossreportingperiodsforvariouspurposesincludinginternal
budgetingandforecastingshort-andlong-termoperatingplansandemployeeincentivecompensationPG&ECorporation
believesthatearningsfromoperationsprovideadditionalinsightintotheunderlyingtrendsofthebusinessallowingforabetter
comparisonagainsthistoricalresultsandexpectationsforfutureperformance
() “Itemsimpactingcomparability”representitemsthatmanagementdoesnotconsiderpartofthenormalcourseofoperations
andthataffectcomparabilityoffinancialresultsbetweenperiodsItemsimpactingcomparabilityreconcileearningsfrom
operationswithconsolidatedincomeavailableforcommonshareholdersasreportedinaccordancewithGAAP
() TheUtilityincurredcostsofmillionpre-taxduringthetwelvemonthsendedDecemberforpipeline-related
expensesincludingcostsincurredtoidentifyandremoveencroachmentsfromtransmissionpipelinerightsofwayandto
performremainingworkundertheUtility’spipelinesafetyenhancementplan(“PSEP”)
() TheUtilityincurredcostsofmillionpre-taxduringthetwelvemonthsendedDecemberforlegalandregulatory
relatedexpensesincludingcostsincurredinconnectionwithvariousenforcementregulatoryandlitigationactivitiesregarding
naturalgasmattersandregulatorycommunications
() TheUtilityincurredcostsofmillionpre-taxduringthetwelvemonthsendedDecemberassociatedwithfines
andpenaltiesimposedbytheCPUConAprilinthegastransmissionpipelineinvestigationsThesecostsincludea
millionadditionalaccrualforthefinepaidtotheStateGeneralFundamillionchargeforabillcreditfornaturalgas
customersandmillioninestimatedchargesforcapitalcostsincurredduringthetwelvemonthsendedDecember
thattheUtilitybelievesareprobableofdisallowanceintheGasTransmissionandStorageratecasestillpendingat
theCPUCFuturefinesorpenaltiesmaybeimposedinconnectionwithotherenforcementregulatoryandlitigationactivities
regardingnaturalgasmattersandregulatorycommunications
() Representsinsurancerecoveriesofmillionpre-taxforthird-partyclaimsandassociatedlegalcostsrelatedtotheSan
BrunoaccidenttheUtilityreceivedduringthetwelvemonthsendedDecemberTheUtilityhasreceivedacumulative
totalofmillionthroughinsurancerelatedtomillionofthird-partyclaimsandmillionoflegalcostsincurredNo
furtherinsurancerecoveriesrelatedtotheseclaimsandcostsareexpected
() Innaturalgasmattersincludedpipeline-relatedcoststoperformworkunderthePSEPandotheractivitiesassociated
withsafetyimprovementstotheUtility’snaturalgassystemaswellaslegalandothercostsrelatedtonaturalgasmatters
Naturalgasmattersalsoincludedchargesrelatedtofinesthird-partyliabilityclaimsandinsurancerecoveriesin
()IntheUtilityreduceditsaccrualrelatedtotheHinkleywholehousewaterreplacementprogram