Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share

NOTE 6: EARNINGS PER SHARE

PG&E Corporation's basic EPS is calculated by dividing the income available for common shareholders by the weighted average number of common shares outstanding.  PG&E Corporation applies the treasury stock method of reflecting the dilutive effect of outstanding share-based compensation in the calculation of diluted EPS.  The following is a reconciliation of PG&E Corporation's income available for common shareholders and weighted average common shares outstanding for calculating diluted EPS:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions, except per share amounts)	2013		2012		2013		2012
Income available for common shareholders	$	161	$	361	$	728	$	829
Weighted average common shares outstanding, basic		446		428		441		422
Add incremental shares from assumed conversions:
Employee share-based compensation		1		1		1		1
Weighted average common share outstanding, diluted		447		429		442		423
Total earnings per common share, diluted	$	0.36	$	0.84	$	1.65	$	1.96

For each of the periods presented above, the calculation of weighted average common shares outstanding on a diluted basis excluded an insignificant amount of options and securities that were antidilutive.