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90
PART II
ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
PG&ECorporation Utility
YearEndedDecember
(inmillions)
   
Deferredincometaxliabilities
Regulatorybalancingaccounts        
Propertyrelatedbasisdierences    
Incometaxregulatoryasset()    
Other    
Total deferred income tax liabilities
       
Total net deferred income tax liabilities
       
Classificationofnetdeferredincometaxliabilities
Includedincurrentliabilities(assets) -  () -  ()
Includedinnoncurrentliabilities    
Total net deferred income tax liabilities
       
() Representsthedeferredincometaxcomponentofthecumulativedifferencesbetweenamountsrecognizedforratemaking
purposesandamountsrecognizedinaccordancewithGAAP(SeeNoteabove)
The following table reconciles income tax expense at the federal statutory rate to the income tax provision:
PG&ECorporation Utility
YearEndedDecember
     
Federalstatutoryincometaxrate      
Increase(decrease)inincome
taxrateresultingfrom
State income tax (net of federal
benefit)(1) ()  () ()  ()
Eect of regulatory treatment
of fixed asset dierences(2) () () () () () ()
Tax credits () () () () () ()
Benefit of loss carryback () () () () () ()
Non deductible penalties(3)      
Other, net () () () ()  ()
Eectivetaxrate
()   ()  
() Includestheeffectofstateflow-throughratemakingtreatmentInamountsincludeanagreementwiththeIRSona
auditrelatedtoelectrictransmissionanddistributionrepairsdeductions
() Includestheeffectoffederalflow-throughratemakingtreatmentforcertainproperty-relatedcostsinandas
authorizedbytheGRCdecisionAmountsareimpactedbythelevelofincomebeforeincometaxes
() Representstheeffectsofnon-taxdeductiblefinesandpenaltiesassociatedwiththePenaltyDecision(Formore
informationaboutthePenaltyDecisionseeNotebelow)