EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

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 September 30,				Nine Months Ended September 30,
(in millions, except per share amounts)	2023		2022		2023		2022
Income available for common shareholders	$	348	$	456	$	1,323	$	1,287
Weighted average common shares outstanding, basic	2,111		1,987		2,041		1,987
Add incremental shares from assumed conversions:
Employee share-based compensation	6		8		6		8
Equity Units	23		137		91		137
Weighted average common shares outstanding, diluted	2,140		2,132		2,138		2,132
Total income per common share, diluted	$	0.16	$	0.21	$	0.62	$	0.60

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