Equity

6 Months Ended

Jun. 30, 2014

Equity

NOTE 5: EQUITY

PG&E Corporation's and the Utility's changes in equity for the six months ended June 30, 2014 were as follows:

	PG&E Corporation			Utility
	Total			Total
(in millions)	Equity			Shareholders' Equity
Balance at December 31, 2013	$	14,594		$	14,841
Comprehensive income		495			478
Equity contributions		-			580
Common stock issued		599			-
Share-based compensation		27			(5	)
Common stock dividends declared		(428	)		(358	)
Preferred stock dividend requirement		-			(7	)
Preferred stock dividend requirement of subsidiary		(7	)		-
Balance at June 30, 2014	$	15,280		$	15,529

In February 2014, PG&E Corporation entered into a new equity distribution agreement providing for the sale of PG&E Corporation common stock having an aggregate gross sales price of up to $500 million.  

PG&E Corporation issued common stock in the following transactions:

• During the six months ended June 30, 2014, 4 million shares were issued for cash proceeds of $160 million under the PG&E Corporation 401(k) plan, the Dividend Reinvestment and Stock Purchase Plan, and share-based compensation plans; and

• During the three and six months ended June 30, 2014, PG&E Corporation sold 5 and 10 million shares under the February 2014 equity distribution agreement for cash proceeds of $206 and $429 million, net of commissions paid of $2 and $4 million, respectively.