2010 FERC Form 1 - Pacific Gas and Electric Company

Name of Respondent
PACIFIC GAS AND ELECTRIC COMPANY
This Report is:
(1) X An Original
(2) A Resubmission
Date of Report
(Mo, Da, Yr)
04/08/2011
Year/Period of Report
2010/Q4
NOTES TO FINANCIAL STATEMENTS (Continued)
expense recognized for performance shares will fluctuate based on PG&E Corporation’s common stock price and its TSR relative to its
comparator group. As of December 31, 2010 and 2009, $68 million and $63 million, respectively, had been accrued as the
performance share liability for PG&E Corporation.
For performance shares classified as liability awards, the following table summarizes activity for 2010:
Number of
Weighted Average Fair
Performance Shares
Value
Nonvested at January 1 1,547,598 $ 55.98
Granted -
Vested (387,019) $ 43.06
Forfeited (23,089) $ 56.18
Nonvested at December 31 1,137,490 $ 60.37
For performance shares classified as liability awards, the total intrinsic value of amounts settled during 2010, 2009, and 2008
was $17 million, $21 million, and $7 million, respectively.
NOTE 7: PREFERRED STOCK
PG&E Corporation
PG&E Corporation has authorized 80 million shares of no par value preferred stock and 5 million shares of $100 par value
preferred stock, which may be issued as redeemable or nonredeemable preferred stock. No preferred stock of PG&E Corporation has
been issued to date.
Utility
The Utility has authorized 75 million shares of $25 par value preferred stock and 10 million shares of $100 par value
preferred stock. The Utility specifies that 5,784,825 shares of the $25 par value preferred stock authorized are designated as
nonredeemable preferred stock without mandatory redemption provisions. All remaining shares of preferred stock may be issued as
redeemable or nonredeemable preferred stock.
The following table summarizes the Utility’s outstanding preferred stock without mandatory redemption provisions at
December 31, 2010 and 2009:
(in millions, except share amounts, redemption
price, and par value) Shares Outstanding Redemption Price Balance
Nonredeemable $25 par value preferred stock
5.00% Series 400,000 N/A $ 10
5.50% Series 1,173,163 N/A 30
6.00% Series 4,211,662 N/A 105
Total nonredeemable preferred stock 5,784,825 $ 145
Redeemable $25 par value preferred stock
4.36% Series 418,291 $ 25.75 $ 11
4.50% Series 611,142 26.00 15
4.80% Series 793,031 27.25 20
5.00% Series 1,778,172 26.75 44
5.00% Series A 934,322 26.75 23
Total redeemable preferred stock 4,534,958 $ 113
FERC FORM NO. 1 (ED. 12-88) Page 123.22