Quarterly Consolidated Financial Data

12 Months Ended

Dec. 31, 2013

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
2013
PG&E CORPORATION
Operating revenues	$	3,975		$	4,175		$	3,776	$	3,672
Operating income		333			291			636		502
Income tax (benefit) provision		25			(24	)		153		114
Net income		90			164			332		242
Income available for common shareholders		86			161			328		239
Comprehensive income		210			165			352		252
Net earnings per common share, basic		0.19			0.36			0.74		0.55
Net earnings per common share, diluted		0.19			0.36			0.74		0.55
Common stock price per share:
High		42.75			46.37			48.44		44.53
Low		40.07			40.76			43.59		40.47
UTILITY
Operating revenues	$	3,973		$	4,174		$	3,775	$	3,671
Operating income		360			292			635		503
Income tax (benefit) provision		65			(20	)		160		121
Net income		138			162			329		237
Income available for common stock		134			159			325		234
Comprehensive income		231			166			333		242
2012
PG&E CORPORATION
Operating revenues	$	3,830		$	3,976		$	3,593	$	3,641
Operating income		125			614			467		487
Income tax (benefit) provision		(54	)		100			87		104
Net income (loss)		(9	)		364			239		236
Income (loss) available for common shareholders		(13	)		361			235		233
Comprehensive income		77			372			247		246
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 tax provision		(30	)		122			93		113
Income available for common stock		9			337			223		228
Comprehensive income		96			348			235		241

The Utility recorded a charge to net income of $196 million in the third quarter of 2013 and $353 million during the fourth quarter 2012, for disallowed capital expenditures associated with the Utility's pipeline safety enhancement plan.  See Note 14 of the Notes to the Consolidated Financial Statements.

The Utility recorded a provision of $110 million and $80 million in the third quarter 2013 and in the second quarter 2012, respectively, for estimated third-party claims related to the San Bruno accident.  During the second quarter 2013 and third quarter 2013, the Utility recognized $45 million and $25 million, respectively, for insurance claims.  During the first quarter 2012, second quarter of 2012, third quarter of 2012, and fourth quarter 2012 the Utility recognized $11 million, $25 million, $99 million, and $50 million, respectively, for insurance recoveries.  See Note 14 of the Notes to the Consolidated Financial Statements.