Quarterly Consolidated Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Consolidated Financial Data

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

	Quarter ended
(in millions, except per share amounts)	December 31		September 30		June 30		March 31
2012
PG&E CORPORATION
Operating revenues	$	3,830	$	3,976	$	3,593	$	3,641
Operating income		125		614		467		487
Net income (loss)		(9)		364		239		236
Income (loss) available for common shareholders		(13)		361		235		233
Net earnings (loss) per common share, basic		(0.03)		0.84		0.56		0.56
Net earnings (loss) per common share, diluted		(0.03)		0.84		0.55		0.56
Common stock price per share:
High		43.48		46.51		45.20		43.72
Low		39.71		42.41		42.04		40.16
UTILITY
Operating revenues	$	3,829	$	3,974	$	3,592	$	3,640
Operating income		127		613		467		488
Net income		13		340		227		231
Income available for common stock		9		337		223		228
2011
PG&E CORPORATION
Operating revenues	$	3,815	$	3,860	$	3,684	$	3,597
Operating income		358		408		692		484
Net income		87		203		366		202
Income available for common shareholders		83		200		362		199
Net earnings per common share, basic		0.20		0.50		0.91		0.50
Net earnings per common share, diluted		0.20		0.50		0.91		0.50
Common stock price per share:
High		43.24		43.32		46.52		47.60
Low		36.86		39.21		41.39		42.47
UTILITY
Operating revenues	$	3,813	$	3,859	$	3,683	$	3,596
Operating income		359		402		699		484
Net income		89		196		359		201
Income available for common stock		85		193		355		198

During the fourth quarter 2012, the Utility recorded a charge to net income of $353 million for disallowed capital expenditures associated with the pipeline safety enhancement plan.  See Note 15 of the Notes to the Consolidated Financial Statements

During the second quarter 2012 the Utility recorded a provision of $80 million for estimated third-party claims related to the San Bruno accident.  During the first quarter 2012, second quarter of 2012, third quarter of 2012, and fourth quarter 2012, the Utility submitted insurance claims to certain insurers for the lower layers and recognized $11 million, $25 million, $99 million, and $50 million, respectively, for insurance recoveries.  See Note 15 of the Notes to the Consolidated Financial Statements.