Item 16. FORM 10-K SUMMARY

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Item 16. FORM 10-K SUMMARY

None.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrants have duly caused this Annual Report on Form 10-K for the year ended December 31, 2018 to be signed on their behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrants and in the capacities and on the dates indicated.



	PG&E CORPORATION		PACIFIC GAS AND ELECTRIC COMPANY
	(Registrant)		(Registrant)

	JOHN R. SIMON		MICHAEL A. LEWIS
	John R. Simon		Michael A. Lewis

By:	Interim Chief Executive Officer	By:	Senior Vice President, Electric Operations

Date:	February 28, 2019	Date:	February 28, 2019


			STEVEN E. MALNIGHT
			Steven E. Malnight

		By:	Senior Vice President, Energy Supply and Policy

		Date:	February 28, 2019


			JESUS SOTO, Jr.
			Jesus Soto, Jr.

		By:	Senior Vice President, Gas Operations

		Date:	February 28, 2019



Signature	Title	Date
A. Principal Executive Officers


	Interim Chief Executive Officer	February 28, 2019
John R. Simon	(PG&E Corporation)




	Senior Vice President, Electric Operations	February 28, 2019
Michael A. Lewis	(Pacific Gas and Electric Company)




	Senior Vice President, Energy Supply and Policy	February 28, 2019
Steven E. Malnight	(Pacific Gas and Electric Company)




	Senior Vice President, Gas Operations	February 28, 2019
Jesus Soto, Jr.	(Pacific Gas and Electric Company)




	Senior Vice President and Chief Financial Officer	February 28, 2019
Jason P. Wells	(PG&E Corporation)




	Vice President, Chief Financial Officer, and	February 28, 2019
David S. Thomason	Controller (Pacific Gas and Electric Company)



C. Principal Accounting Officer

	Vice President, Chief Financial Officer, and	February 28, 2019
David S. Thomason	Controller (Pacific Gas and Electric Company)



	D. Directors (PG&E Corporation and Pacific Gas and Electric Company, unless otherwise noted)

*	LEWIS CHEW	Director	February 28, 2019
	Lewis Chew




*	FRED J. FOWLER	Director	February 28, 2019
	Fred J. Fowler




*	RICHARD C. KELLY	Director	February 28, 2019
	Richard C. Kelly	Chair of the Board (PG&E Corporation)




*	ROGER H. KIMMEL	Director	February 28, 2019
	Roger H. Kimmel




*	RICHARD A. MESERVE	Director	February 28, 2019
	Richard A. Meserve




*	FORREST E. MILLER	Director	February 28, 2019
	Forrest E. Miller	Chair of the Board (Pacific Gas and Electric Company)




*	BENITO MINICUCCI	Director	February 28, 2019
	Benito Minicucci




*	ERIC D. MULLINS	Director	February 28, 2019
	Eric D. Mullins




*	ROSENDO G. PARRA	Director	February 28, 2019
	Rosendo G. Parra




*	BARBARA L. RAMBO	Director	February 28, 2019
	Barbara L. Rambo




*	ANNE SHEN SMITH	Director	February 28, 2019
	Anne Shen Smith



*By:		February 28, 2019
	Janet C. Loduca, Attorney-in-Fact

PG&E CORPORATION

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME



	Years Ended December 31,
(in millions, except per share amounts)	2018			2017			2016
Administrative service revenue	$	90		$	63		$	70
Operating expenses	(91		)	(5		)	(73		)
Interest income	2			1			1
Interest expense	(15		)	(11		)	(10		)
Other income (expense)	(2		)	4			2
Equity in earnings of subsidiaries	(6,832		)	1,667			1,388
Income before income taxes	(6,848		)	1,719			1,378
Income tax provision (benefit)	3			73			(15		)
Net income	$	(6,851	)	$	1,646		$	1,393
Other Comprehensive Income
Pension and other postretirement benefit plans obligations (net of taxes of $0, $0, and $1, at respective dates)	$	4		$	1		$	(2	)
Total other comprehensive income (loss)	4			1			(2		)
Comprehensive Income	$	(6,847	)	$	1,647		$	1,391
Weighted Average Common Shares Outstanding, Basic	517			512			499
Weighted Average Common Shares Outstanding, Diluted	517			513			501
Net earnings per common share, basic	$	(13.25	)	$	3.21		$	2.79
Net earnings per common share, diluted	$	(13.25	)	$	3.21		$	2.78

PG&E CORPORATION

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)

CONDENSED BALANCE SHEETS



	Balance at December 31,
(in millions)	2018			2017
ASSETS
Current Assets
Cash and cash equivalents	$	373		$	2
Advances to affiliates	44			24
Income taxes receivable	18			27
Total current assets	435			53
Noncurrent Assets
Equipment	2			3
Accumulated depreciation	(2		)	(3		)
Net equipment	—			—
Investments in subsidiaries	12,722			19,514
Other investments	162			144
Intercompany receivable	—			72
Deferred income taxes	187			123
Total noncurrent assets	13,071			19,853
Total Assets	$	13,506		$	19,906
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings	300			132
Long-term debt, classified as current	350			—
Accounts payable – other	16			6
Other	17			23
Total current liabilities	683			161
Noncurrent Liabilities
Long-term debt	—			350
Other	172			175
Total noncurrent liabilities	172			525
Common Shareholders’ Equity
Common stock	12,910			12,632
Reinvested earnings	(250		)	6,596
Accumulated other comprehensive income (loss)	(9		)	(8		)
Total common shareholders’ equity	12,651			19,220
Total Liabilities and Shareholders’ Equity	$	13,506		$	19,906

PG&E CORPORATION

SCHEDULE I – CONDENSED FINANCIAL INFORMATION OF PARENT – (Continued)

CONDENSED STATEMENTS OF CASH FLOWS

(in millions)



	Year ended December 31,
	2018			2017			2016
Cash Flows from Operating Activities:
Net income	$	(6,851	)	$	1,646		$	1,393
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation amortization	78			20			74
Equity in earnings of subsidiaries	6,833			(1,667		)	(1,388		)
Deferred income taxes and tax credits-net	(62		)	139			11
Current income taxes receivable/payable	9			(2		)	(1		)
Other	41			(75		)	(24		)
Net cash provided by operating activities	48			61			65
Cash Flows From Investing Activities:
Investment in subsidiaries	(45		)	(455		)	(835		)
Dividends received from subsidiaries (1)	—			784			911
Net cash provided by (used in) investing activities	(45		)	329			76
Cash Flows From Financing Activities:
Borrowings under revolving credit facility	425			—			—
Repayments under revolving credit facility	(125		)	—			—
Net issuances (repayments) of commercial paper, net of discount of $1 in 2017	(132		)	132			—
Short-term debt financing	350			—			—
Long-term debt matured or repurchased	(350		)	—			—
Common stock issued	200			395			822
Common stock dividends paid (2)	—			(1,021		)	(921		)
Net cash provided by (used in) financing activities	368			(494		)	(99		)
Net change in cash and cash equivalents	371			(104		)	42
Cash and cash equivalents at January 1	2			106			64
Cash and cash equivalents at December 31	$	373		$	2		$	106
Supplemental disclosure of cash flow information
Cash received (paid) for:
Interest, net of amounts capitalized	$	(13	)	$	(9	)	$	(9	)
Income taxes, net	10			—			(13		)
Supplemental disclosure of noncash investing and financing activities
Common stock dividends declared but not yet paid	$	—		$	—		$	248
Noncash common stock issuances	—			21			20

(1) Because of its nature as a holding company, PG&E Corporation classifies dividends received from subsidiaries as an investing cash flow. On December 20, 2017, the Board of Directors of the Utility suspended quarterly cash dividends on the Utility's common stock, beginning the fourth quarter of 2017.

(2) On December 20, 2017, the Board of Directors of PG&E Corporation suspended quarterly cash dividends on PG&E Corporation's common stock, beginning the fourth quarter of 2017. In July and October of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.53 per share. In July and October of 2016 and January and April of 2017, respectively, PG&E Corporation paid quarterly common stock dividends of $0.49 per share. In January and April of 2016, respectively, PG&E Corporation paid quarterly common stock dividends of $0.455 per share.

PG&E Corporation

SCHEDULE II – CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2018, 2017, and 2016



(in millions)			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions (2)		Balance at End of Period
Valuation and qualifying accounts deducted from assets:
2018:
Allowance for uncollectible accounts (1)	$	64	$	34	$	—	$	42	$	56
2017:
Allowance for uncollectible accounts (1)	$	58	$	55	$	—	$	49	$	64
2016:
Allowance for uncollectible accounts (1)	$	54	$	50	$	—	$	46	$	58

(1) Allowance for uncollectible accounts is deducted from “Accounts receivable - Customers.”

(2) Deductions consist principally of write-offs, net of collections of receivables previously written off.

Pacific Gas and Electric Company

SCHEDULE II – CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2018, 2017, and 2016



(in millions)			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions (2)		Balance at End of Period
Valuation and qualifying accounts deducted from assets:
2018:
Allowance for uncollectible accounts (1)	$	64	$	34	$	—	$	42	$	56
2017:
Allowance for uncollectible accounts (1)	$	58	$	55	$	—	$	49	$	64
2016:
Allowance for uncollectible accounts (1)	$	54	$	50	$	—	$	46	$	58

(1) Allowance for uncollectible accounts is deducted from “Accounts receivable - Customers.”

(2) Deductions consist principally of write-offs, net of collections of receivables previously written off.

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