EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2024

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)	2024		2023		2024		2023
Income available for common shareholders	$	576	$	348	$	1,828	$	1,323
Weighted average common shares outstanding, basic	2,137		2,111		2,136		2,041
Add incremental shares from assumed conversions:
Employee share-based compensation	6		6		6		6
Equity units	—		23		—		91
Weighted average common shares outstanding, diluted	2,143		2,140		2,142		2,138
Total income per common share, diluted	$	0.27	$	0.16	$	0.85	$	0.62

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. In addition, the Convertible Notes (as defined in Note 4) issued in December 2023 did not have a material impact on the calculation of diluted EPS.