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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues from contracts with customers $ 420.4 $ 477.4
Other revenues 10.9 12.6
Operating revenues 431.3 490.0
COST OF SALES 135.0 212.6
OPERATING EXPENSES    
Other operation and maintenance 120.0 119.0
Depreciation and amortization 94.4 82.4
Taxes other than income 25.6 26.3
Operating expenses 240.0 227.7
OPERATING INCOME 56.3 49.7
OTHER INCOME (EXPENSE)    
Equity in earnings (losses) of unconsolidated affiliates (746.5) [1] 30.7
Allowance for equity funds used during construction 1.3 1.5
Other net periodic benefit expense (0.5) (7.0)
Other income 7.4 6.7
Other expense (6.1) (5.7)
Net other income (expense) (744.4) 26.2
INTEREST EXPENSE    
Interest on long-term debt 36.6 32.6
Allowance for borrowed funds used during construction (0.5) (1.0)
Interest on short-term debt and other interest charges 2.2 3.0
Interest expense 38.3 34.6
INCOME (LOSS) BEFORE TAXES (726.4) 41.3
INCOME TAX BENEFIT (234.6) (5.8)
NET INCOME (LOSS) $ (491.8) $ 47.1
BASIC AVERAGE COMMON SHARES OUTSTANDING 200.2 199.9
DILUTED AVERAGE COMMON SHARES OUTSTANDING 200.2 200.5
BASIC EARNINGS (LOSS) PER AVERAGE COMMON SHARE $ (2.46) $ 0.24
DILUTED EARNINGS (LOSS) PER AVERAGE COMMON SHARE $ (2.46) $ 0.24
[1] At March 31, 2020, the Company recorded a $780.0 million impairment on its investment in Enable, as further discussed in Notes 4 and 5.