PG&E 2012 Annual Report Download - page 108
Download and view the complete annual report
Please find page 108 of the 2012 PG&E annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
 |
 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 12: EMPLOYEE BENEFIT PLANS (Continued)
Other Benefits
Absolute Corporate Other
Return Fixed-Income Fixed-Income Real Assets Total
(in millions)
Balance as of January 1, 2011 ....... $ 47 $ 129 $ 10 —$ 186
Actual return on plan assets:
Relating to assets still held at the
reporting date ............... 1 16 ——17
Relating to assets sold during the
period ..................... —(2) ——(2)
Purchases, issuances, sales, and
settlements
Purchases .................... — 34 — 6 40
Settlements ................... (1) (30) (5) —(36)
Transfers out of Level 3 ........... —(146) (5) —(151)
Balance as of December 31, 2011 ..... $ 47$ 1 $ —$ 6$ 54
Actual return on plan assets:
Relating to assets still held at the
reporting date ............... 2 —— 13
Relating to assets sold during the
period ..................... —— ———
Purchases, issuances, sales, and
settlements
Purchases .................... — 1 — 21 22
Settlements ................... —(1) ——(1)
Balance as of December 31, 2012 ..... $ 49$ 1 $ —$ 28$ 78
There were no transfers out of Level 3 in 2012.
Cash Flow Information
Employer Contributions
PG&E Corporation and the Utility contributed $282 million to the pension benefit plans and $149 million to the
other benefit plans in 2012. These contributions are consistent with PG&E Corporation’s and the Utility’s funding
policy, which is to contribute amounts that are tax-deductible and consistent with applicable regulatory decisions and
federal minimum funding requirements. None of these pension or other benefits were subject to a minimum funding
requirement requiring a cash contribution in 2012. The Utility’s pension benefits met all the funding requirements
under ERISA. PG&E Corporation and the Utility expect to make total contributions of approximately $327 million
and $109 million to the pension plan and other postretirement benefit plans, respectively, for 2013.
Benefits Payments and Receipts
As of December 31, 2012, the estimated benefits PG&E Corporation is expected to pay and federal subsidies it
is estimated to receive in each of the next five fiscal years, and in aggregate for the five fiscal years thereafter for
PG&E Corporation, are as follows:
Pension Other Federal Subsidy
(in millions)
2013 ............................. $ 581 $ 108 $ (6)
2014 ............................. 618 112 (7)
2015 ............................. 656 115 (7)
2016 ............................. 695 119 (8)
2017 ............................. 732 124 (8)
2018 - 2022 ....................... 4,172 662 (42)
104