PG&E 2015 Annual Report Download - page 12
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Please find page 12 of the 2015 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.Table of Contents
Units of Measurement ...............................................................................................................................................................................................................................................................................................................................................6
Glossary ................................................................................................................................................................................................................................................................................................................................................................................................................................................................7
PART I
8
ITEM 1.
Business ............................................................................................................................................................................................................................................................................................................................................................ 8
Regulatory Environment ............................................................................................................................................................................................................................................................................9
Ratemaking Mechanisms ......................................................................................................................................................................................................................................................................10
Electric Utility Operations ...................................................................................................................................................................................................................................................................13
Natural Gas Utility Operations ...............................................................................................................................................................................................................................................17
Competition ..................................................................................................................................................................................................................................................................................................................................18
Environmental Regulation ................................................................................................................................................................................................................................................................. 19
ITEM 1A.
Risk Factors ......................................................................................................................................................................................................................................................................................................................................23
ITEM 1B.
Unresolved Sta Comments ...........................................................................................................................................................................................................................................................32
ITEM 2.
Properties ...............................................................................................................................................................................................................................................................................................................................................32
ITEM 3.
Legal Proceedings.........................................................................................................................................................................................................................................................................................................32
ITEM 4.
Mine Safety Disclosures ................................................................................................................................................................................................................................................................................ 35
Executive Ocers of the Registrants
.................................................................................................................................................................................................................................................................................................
35
PART II
38
ITEM 5.
Market for Registrant’s Common Equity, Related Stockholder Matters
and Issuer Purchases of Equity Securities ..............................................................................................................................................................................................38
ITEM 6.
Selected Financial Data .................................................................................................................................................................................................................................................................................39
ITEM 7.
Management’s Discussion and Analysis of Financial Condition
and Results of Operations .....................................................................................................................................................................................................................................................................39
Overview ..............................................................................................................................................................................................................................................................................................................................................39
Results of Operations .................................................................................................................................................................................................................................................................................... 42
Liquidity and Financial Resources ........................................................................................................................................................................................................................... 46
Contractual Commitments .............................................................................................................................................................................................................................................................49
Enforcement and Litigation Matters..................................................................................................................................................................................................................49
Regulatory Matters ...............................................................................................................................................................................................................................................................................................50
Legislative and Regulatory Initiatives.............................................................................................................................................................................................................53
Environmental Matters ................................................................................................................................................................................................................................................................................55
Risk Management Activities........................................................................................................................................................................................................................................................55
Critical Accounting Policies ........................................................................................................................................................................................................................................................ 56
New Accounting Pronouncements ........................................................................................................................................................................................................................ 59
Cautionary Language Regarding Forward-Looking Statements .................................................................................. 59
ITEM 7A.
Quantitative and Qualitative Disclosures About Market Risk..........................................................................................................61
ITEM 8.
Financial Statements and Supplementary Data ....................................................................................................................................................................62
PG&E Corporation .........................................................................................................................................................................................................................................................................................................62
Consolidated Statements of Income ................................................................................................................................................................................................................62
Consolidated Statements of Comprehensive Income....................................................................................................................................63