Send us Feedback

Pacific Gas & Electric (PCG)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

PCG » Topics » Operating Activities

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Operating Activities

        PG&E Corporation's consolidated cash flows from operating activities consist mainly of billings to the Utility for services rendered and payments for employee compensation and goods and services provided by others to PG&E Corporation. PG&E Corporation also incurs interest costs associated with its debt.

        PG&E Corporation's consolidated cash flows from operating activities for 2004, 2003 and 2002 were as follows:

 
   2004
   2003
   2002
  
 
   (in millions)

  
Net income (loss)   $ 4,504   $ 420   $ (874 )
Gain on disposal of NEGT (net of income taxes of $374 million)     (684 )   —     —  
Loss from discontinued operations     —     365     2,536  
Cumulative effect of changes in accounting principles     —     6     61  
   
 
 
 
Net income from continuing operations     3,820     791     1,723  
Non-cash (income) expenses:                    
  Depreciation, amortization and decommissioning     1,497     1,222     1,196  
  Deferred income taxes and tax credits—net     611     190     (281 )
  Recognition of regulatory asset, net of tax     (2,904 )   —     —  
  Other deferred charges and noncurrent liabilities     (519 )   857     921  
  Loss from retirement of long-term debt     65     89     153  
  Gain of sale of assets     (19 )   (29 )   —  
  Tax benefit from employee stock plans     41     —     —  
Other changes in operating assets and liabilities:     (242 )   (618 )   (2,898 )
   
 
 
 
    Net cash provided by operating activities   $ 2,350   $ 2,502   $ 814  
   
 
 
 

        In 2004 the net cash provided by operating activities decreased by $152 million, compared to 2003 due to 2004 payments totaling approximately $85 million for PG&E Corporation's senior executive retention program and $30 million pursuant to a settlement of certain tax-related litigation between PG&E Corporation and NEGT. There were no similar payments in the prior year.

        In 2003, PG&E Corporation's consolidated cash flows provided by operating activities increased by approximately $1.7 billion compared to 2002, mainly due to an increase in the Utility's net cash provided from operating activities, partially offset by a decrease in net cash provided from NEGT's operating activities as a result of realized losses generated through July 7, 2003.

"Operating Activities" elsewhere:

The AES Corporation (AES)
CMS Energy (CMS)
DPL (DPL)
Alliant Energy (LNT)
Mirant (MIR)
Pioneer Natural Resources Company (PXD)
SM Energy Co (SM)
Wisconsin Energy (WEC)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki