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SCHEDULE I – CONSOLIDATED FINANCIAL INFORMATION OF PARENT
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I – CONSOLIDATED FINANCIAL INFORMATION OF PARENT
PG&E CORPORATION
SCHEDULE I — CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”)
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
 Years Ended December 31,
(in millions, except per share amounts)202520242023
Administrative service revenue$194 $146 $154 
Operating expenses(207)(167)(165)
Interest income11 15 13 
Interest expense(315)(270)(365)
Other expense(145)(17)(21)
Equity in earnings of subsidiaries3,065 2,697 2,530 
Income Before Income Taxes2,603 2,404 2,146 
Income tax benefit(86)(94)(96)
Net Income$2,689 $2,498 $2,242 
Preferred stock dividend requirement96 23 — 
Income Available for Common Shareholders$2,593 $2,475 $2,242 
Other Comprehensive Income (Loss)   
Pension and other postretirement benefit plans obligations (net of taxes of $0, $3, and $6, at respective dates)
(3)(7)(16)
Net unrealized gain on available-for-sale securities (net of taxes of $0, $0, and $0, respectively)
— 1 — 
Total other comprehensive income (loss)(3)(6)(16)
Comprehensive Income$2,590 $2,469 $2,226 
Weighted Average Common Shares Outstanding, Basic
2,197 2,141 2,064 
Weighted Average Common Shares Outstanding, Diluted
2,202 2,147 2,138 
Net Earnings Per Common Share, Basic$1.18 $1.16 $1.09 
Net Earnings Per Common Share, Diluted$1.18 $1.15 $1.05 
PG&E CORPORATION
SCHEDULE I — CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”) – (Continued)
CONSOLIDATED BALANCE SHEETS
 Balance at December 31,
(in millions)20252024
ASSETS  
Current Assets  
Cash and cash equivalents$360 $235 
Restricted cash and restricted cash equivalents1 1 
Advances to affiliates54 13 
Income taxes receivable39 2 
Total current assets454 251 
Other Noncurrent Assets  
Investments in subsidiaries45,110 42,829 
Other investments182 175 
Deferred income taxes682 633 
Total other noncurrent assets45,974 43,637 
TOTAL ASSETS$46,428 $43,888 
LIABILITIES AND EQUITY  
Current Liabilities  
Accounts payable – other146 36 
Income taxes payable— 1 
Other current liabilities444 420 
Total current liabilities590 457 
Noncurrent Liabilities  
Long-term debt5,622 5,612 
Other noncurrent liabilities151 141 
Total noncurrent liabilities5,773 5,753 
Shareholders’ Equity  
Mandatory convertible preferred stock1,579 1,579 
Common stock39,168 39,086 
Reinvested earnings(650)(2,966)
Accumulated other comprehensive loss(32)(21)
Total shareholders’ equity40,065 37,678 
TOTAL LIABILITIES AND EQUITY$46,428 $43,888 
PG&E CORPORATION
SCHEDULE I – CONSOLIDATED FINANCIAL INFORMATION OF PG&E CORPORATION (“PARENT”) – (Continued)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
 Year ended December 31,
 202520242023
Cash Flows from Operating Activities:   
Net income $2,689 $2,498 $2,242 
Adjustments to reconcile net income to net cash provided by operating activities:   
Stock-based compensation amortization82 53 4 
Equity in earnings of subsidiaries(3,065)(2,699)(2,530)
Deferred income taxes and tax credits, net(49)(94)(116)
Current income taxes payable(33)— 9 
Other55 9 40 
Net cash used in operating activities
(321)(233)(351)
Cash Flows From Investing Activities:   
Investment in subsidiaries(1,575)(5,360)(1,290)
Dividends received from subsidiaries (1)
2,350 2,025 1,775 
Net cash provided by (used in) investing activities
775 (3,335)485 
Cash Flows From Financing Activities:   
Repayments under term loan credit facilities— (500)(2,181)
Proceeds from issuance of convertible notes, net of discount and issuance costs of $0, $0, and $27 at respective dates
— — 2,123 
Proceeds from issuance of long-term debt, net of premium and
   issuance costs of $0, $4, and $0 at respective dates
— 1,496 — 
Common stock issued— 1,128 — 
Mandatory convertible preferred stock issued— 1,579 — 
Mandatory convertible preferred stock dividends paid(97)— — 
Common stock dividend paid(220)(86)— 
Other(12)(8)(6)
Net cash provided by (used in) financing activities(329)3,609 (64)
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents125 41 70 
Cash, cash equivalents, restricted cash, and restricted cash equivalents at January 1236 195 125 
Cash, cash equivalents, restricted cash, and restricted cash equivalents at December 31$361 $236 $195 
Less: Restricted cash and restricted cash equivalents(1)(1)(3)
Cash and cash equivalents at December 31$360 $235 $192 
Supplemental disclosures of cash flow information   
Cash paid for:   
Interest, net of amounts capitalized$(306)$(215)$(309)
Supplemental disclosures of noncash investing and financing activities
Changes to PG&E Corporation common stock and treasury stock in connection
    with the share exchange with the Fire Victim Trust		$— $— $(2,517)
Common stock dividends declared but not yet paid111 55 21 
Mandatory convertible preferred stock dividends declared but not yet paid23 23 — 
(1) Because of its nature as a holding company, PG&E Corporation classifies dividends received from subsidiaries as an investing cash flow.