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, 2020 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)

	/s/ PATRICIA K. POPPE		/s/ ADAM L. WRIGHT
	Patricia K. Poppe		Adam L. Wright

By:	Chief Executive Officer	By:	Executive Vice President, Operations and Chief Operating Officer

Date:	February 25, 2021	Date:	February 25, 2021


Signature	Title	Date
A. Principal Executive Officers


/s/ PATRICIA K. POPPE	Chief Executive Officer	February 25, 2021
Patricia K. Poppe	(PG&E Corporation)



/s/ ADAM L. WRIGHT	Executive Vice President, Operations and Chief Operating Officer	February 25, 2021
Adam L. Wright	(Pacific Gas and Electric Company)



/s/ CHRISTOPHER A. FOSTER	Vice President and Interim Chief Financial Officer	February 25, 2021
Christopher A. Foster	(PG&E Corporation)



/s/ DAVID S. THOMASON	Vice President, Chief Financial Officer, and	February 25, 2021
David S. Thomason	Controller (Pacific Gas and Electric Company)


B. Principal Accounting Officer

/s/ DAVID S. THOMASON	Vice President, Chief Financial Officer, and	February 25, 2021
David S. Thomason	Controller (Pacific Gas and Electric Company)


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

*	/s/ RAJAT BAHRI	Director	February 25, 2021
	Rajat Bahri



*	/s/ CHERYL F. CAMPBELL	Director	February 25, 2021
	Cheryl F. Campbell



*	/s/ KERRY W. COOPER	Director	February 25, 2021
	Kerry W. Cooper



*	/s/ JESSICA L. DENECOUR	Director	February 25, 2021
	Jessica L. Denecour



*	/s/ MARK E. FERGUSON III	Director	February 25, 2021
	Mark E. Ferguson III



*	/s/ ROBERT C. FLEXON	Director	February 25, 2021
	Robert C. Flexon	Chair of the Board (PG&E Corporation)



*	/s/ W. CRAIG FUGATE	Director	February 25, 2021
	W. Craig Fugate



*	/s/ ARNO L. HARRIS	Director	February 25, 2021
	Arno L. Harris



*	/s/ MICHAEL R. NIGGLI, JR.	Director	February 25, 2021
	Michael R. Niggli, Jr.



*	/s/ PATRICIA K. POPPE	Director	February 25, 2021
	Patricia K. Poppe



*	/s/ DEAN L. SEAVERS	Director	February 25, 2021
	Dean L. Seavers	Chair of the Board (Pacific Gas and Electric Company)



*	/s/ WILLIAM L. SMITH	Director	February 25, 2021
	William L. Smith



*	/s/ OLUWADARA J. TRESEDER	Director	February 25, 2021
	Oluwadara J. Treseder



*	/s/ BENJAMIN F. WILSON	Director	February 25, 2021
	Benjamin F. Wilson



*	/s/ ADAM L. WRIGHT	Director (Pacific Gas and Electric Company)	February 25, 2021
	Adam L. Wright



*	/s/ JOHN M. WOOLARD	Director	February 25, 2021
	John M. Woolard


*By:			/s/ JOHN R. SIMON												February 25, 2021
			John R. Simon, 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)	2020		2019		2018
Administrative service revenue	$	127	$	138	$	90
Operating expenses	(103)		(114)		(91)
Interest income	—		1		2
Interest expense	(149)		(21)		(15)
Other income (expense)	13		10		(2)
Reorganization items, net	(1,649)		(26)		—
Equity in earnings of subsidiaries	411		(7,622)		(6,832)
Loss before income taxes	(1,350)		(7,634)		(6,848)
Income tax provision (benefit)	(46)		8		3
Net loss	$	(1,304)	$	(7,642)	$	(6,851)
Other Comprehensive Income (Loss)
Pension and other postretirement benefit plans obligations (net of taxes of $7, $0, and $2, at respective dates)	$	(17)	$	(1)	$	4
Total other comprehensive income (loss)	(17)		(1)		4
Comprehensive Loss	$	(1,321)	$	(7,643)	$	(6,847)
Weighted Average Common Shares Outstanding, Basic	1,257		528		517
Weighted Average Common Shares Outstanding, Diluted	1,257		528		513
Net loss per common share, basic	$	(1.05)	$	(14.50)	$	(13.25)
Net loss per common share, diluted	$	(1.05)	$	(14.50)	$	(13.25)

PG&E CORPORATION

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

CONDENSED BALANCE SHEETS


	Balance at December 31,
(in millions)	2020		2019
ASSETS
Current Assets
Cash and cash equivalents	$	223	$	448
Advances to affiliates	48		120
Income taxes receivable	12		12
Other current assets	13		11
Total current assets	296		591
Noncurrent Assets
Equipment	2		2
Accumulated depreciation	(2)		(2)
Net equipment	—		—
Investments in subsidiaries	25,244		5,102
Other investments	186		173
Operating lease right of use asset	3		6
Deferred income taxes	237		187
Total noncurrent assets	25,670		5,468
Total Assets	$	25,966	$	6,059
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Long-term debt, classified as current	28		—
Accounts payable – other	49		47
Operating lease liabilities	3		3
Other current liabilities	72		3
Total current liabilities	152		53
Noncurrent Liabilities
Debtor-in-possession financing	4,624		—
Operating lease liabilities	—		3
Other noncurrent liabilities	191		58
Total noncurrent liabilities	4,815		61
Liabilities Subject to Compromise	—		810
Common Shareholders’ Equity
Common stock	30,224		13,038
Reinvested earnings	(9,198)		(7,893)
Accumulated other comprehensive income (loss)	(27)		(10)
Total common shareholders’ equity	20,999		5,135
Total Liabilities and Shareholders’ Equity	$	25,966	$	6,059

PG&E CORPORATION

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

CONDENSED STATEMENTS OF CASH FLOWS

(in millions)


	Year ended December 31,
	2020		2019		2018
Cash Flows from Operating Activities:
Net loss	$	(1,304)	$	(7,642)	$	(6,851)
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation amortization	28		43		78
Equity in earnings of subsidiaries	(412)		7,622		6,833
Deferred income taxes and tax credits-net	(50)		—		(62)
Reorganization items, net (Note 2)	1,548		11		—
Current income taxes receivable/payable	—		6		9
Liabilities subject to compromise	12		28		—
Other	97		(62)		41
Net cash provided by (used in) operating activities	(81)		6		48
Cash Flows From Investing Activities:
Investment in subsidiaries	(12,986)		—		(45)
Net cash used in investing activities	(12,986)		—		(45)
Cash Flows From Financing Activities:
Debtor-in-possession credit facility debt issuance costs	—		(16)		—
Bridge facility financing fees	(40)		—		—
Borrowings under revolving credit facility	—		—		425
Repayments under revolving credit facility	—		—		(125)
Net repayments of commercial paper	—		—		(132)
Short-term debt financing	—		—		350
Proceeds from issuance of long-term debt	4,660		—		—
Repayment of long-term debt	(664)		—		(350)
Common stock issued	7,582		85		200
Equity Units issued	1,304		—		—
Net cash provided by financing activities	12,842		69		368
Net change in cash and cash equivalents	(225)		75		371
Cash and cash equivalents at January 1	448		373		2
Cash and cash equivalents at December 31	$	223	$	448	$	373
Supplemental disclosures of cash flow information
Cash received (paid) for:
Interest, net of amounts capitalized	$	(105)	$	(3)	$	(13)
Income taxes, net	—		—		10
Supplemental disclosures of noncash investing and financing activities
Operating lease liabilities arising from obtaining ROU assets	$	—	$	9	$	—
Common stock issued in satisfaction of liabilities	8,276		—		—

PG&E CORPORATION

SCHEDULE II – CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2020, 2019, and 2018


(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:
2020:
Allowance for uncollectible accounts (1)	$	43	$	138	$	—	$	35	$	146
2019:
Allowance for uncollectible accounts (1)	$	56	$	—	$	—	$	13	$	43
2018:
Allowance for uncollectible accounts (1)	$	64	$	34	$	—	$	42	$	56

(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, 2020, 2019, and 2018


(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:
2020:
Allowance for uncollectible accounts (1)	$	43	$	138	$	—	$	35	$	146
2019:
Allowance for uncollectible accounts (1)	$	56	$	—	$	—	$	13	$	43
2018:
Allowance for uncollectible accounts (1)	$	64	$	34	$	—	$	42	$	56

(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.

Previous: Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES