SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Components of Net Periodic Benefit Cost

The net periodic benefit costs reflected in PG&E Corporation’s Condensed Consolidated Financial Statements for the three months ended March 31, 2020 and 2019 were as follows:

	Pension Benefits				Other Benefits
	Three Months Ended March 31,
(in millions)	2020		2019		2020		2019
Service cost for benefits earned (1)	$	132	$	111	$	15	$	14
Interest cost	178		189		16		19
Expected return on plan assets	(261)		(227)		(34)		(31)
Amortization of prior service cost	(1)		(1)		3		4
Amortization of net actuarial loss	1		1		(5)		(1)
Net periodic benefit cost	49		73		(5)		5
Regulatory account transfer (2)	34		10		—		—
Total	$	83	$	83	$	(5)	$	5

⁽¹⁾ A portion of service costs are capitalized pursuant to GAAP.

⁽²⁾ The Utility recorded these amounts to a regulatory account since they are probable of recovery from, or refund to, customers in future rates.

Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The changes, net of income tax, in PG&E Corporation’s accumulated other comprehensive income (loss) consisted of the following:

	Pension Benefits		Other Benefits		Total
(in millions, net of income tax)	Three Months Ended March 31, 2020
Beginning balance	$	(22)	$	17	$	(5)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $0 and $1, respectively)	(1)		2		1
Amortization of net actuarial loss (net of taxes of $0 and $2, respectively)	1		(3)		(2)
Regulatory account transfer (net of taxes of $0 and $1, respectively)	—		1		1
Net current period other comprehensive gain (loss)	—		—		—
Ending balance	$	(22)	$	17	$	(5)

⁽¹⁾ These components are included in the computation of net periodic pension and other post-retirement benefit costs.  (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)

	Pension Benefits		Other Benefits		Total
(in millions, net of income tax)	Three Months Ended March 31, 2019
Beginning balance	$	(21)	$	17	$	(4)
Amounts reclassified from other comprehensive income: (1)
Amortization of prior service cost (net of taxes of $0 and $1, respectively)	(1)		3		2
Amortization of net actuarial loss (net of taxes of $0, and $0, respectively)	1		(1)		—
Regulatory account transfer (net of taxes of $0 and $1, respectively)	—		(2)		(2)
Net current period other comprehensive gain (loss)	—		—		—
Ending balance	$	(21)	$	17	$	(4)

⁽¹⁾ These components are included in the computation of net periodic pension and other post-retirement benefit costs.  (See the “Pension and Other Post-Retirement Benefits” table above for additional details.)

Summary of Revenues Disaggregated by Type of Customer

The following table presents the Utility’s revenues disaggregated by type of customer:

	Three Months Ended March 31,
(in millions)	2020		2019
Electric
Revenue from contracts with customers
Residential	$	1,242	$	1,288
Commercial	1,007		953
Industrial	341		293
Agricultural	123		86
Public street and highway lighting	17		17
Other (1)	(66)		(309)
Total revenue from contracts with customers - electric	2,664		2,328
Regulatory balancing accounts (2)	376		464
Total electric operating revenue	$	3,040	$	2,792
Natural gas
Revenue from contracts with customers
Residential	$	1,066	$	1,171
Commercial	234		240
Transportation service only	348		382
Other (1)	(22)		(75)
Total revenue from contracts with customers - gas	1,626		1,718
Regulatory balancing accounts (2)	(360)		(499)
Total natural gas operating revenue	1,266		1,219
Total operating revenues	$	4,306	$	4,011

⁽¹⁾ This activity is primarily related to the change in unbilled revenue and amounts subject to refund, partially offset by other miscellaneous revenue items.

⁽²⁾ These amounts represent revenues authorized to be billed or refunded to customers.