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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues from contracts with customers $ 687.8 $ 739.2 $ 1,600.2 $ 1,717.7
Other revenues 14.3 16.2 36.7 41.4
Operating revenues 702.1 755.4 1,636.9 1,759.1
COST OF SALES 209.1 234.0 481.5 625.3
OPERATING EXPENSES        
Other operation and maintenance 109.7 129.8 347.2 368.6
Depreciation and amortization 100.5 94.1 292.2 260.8
Taxes other than income 24.8 23.2 76.3 70.4
Operating expenses 235.0 247.1 715.7 699.8
OPERATING INCOME 258.0 274.3 439.7 434.0
OTHER INCOME (EXPENSE)        
Equity in earnings (losses) of unconsolidated affiliates 15.8 38.3 (703.8) [1] 104.8
Allowance for equity funds used during construction 1.1 1.0 3.7 3.7
Other net periodic benefit expense (2.0) (1.4) (3.5) (8.7)
Other income 5.5 4.6 27.0 16.3
Other expense (5.4) (5.5) (23.9) (15.6)
Net other income (expense) 15.0 37.0 (700.5) 100.5
INTEREST EXPENSE        
Interest on long-term debt 38.7 37.5 114.1 101.9
Allowance for borrowed funds used during construction (0.5) (0.6) (1.5) (2.2)
Interest on short-term debt and other interest charges 1.6 2.7 6.3 10.4
Interest expense 39.8 39.6 118.9 110.1
INCOME (LOSS) BEFORE TAXES 233.2 271.7 (379.7) 424.4
INCOME TAX EXPENSE (BENEFIT) 55.8 20.8 (151.2) 26.2
NET INCOME (LOSS) $ 177.4 $ 250.9 $ (228.5) $ 398.2
BASIC AVERAGE COMMON SHARES OUTSTANDING 200.1 200.2 200.1 200.1
DILUTED AVERAGE COMMON SHARES OUTSTANDING 200.4 200.8 200.1 200.6
BASIC EARNINGS (LOSS) PER AVERAGE COMMON SHARE $ 0.89 $ 1.25 $ (1.14) $ 1.99
DILUTED EARNINGS (LOSS) PER AVERAGE COMMON SHARE $ 0.89 $ 1.25 $ (1.14) $ 1.98
[1] In March 2020, the Company recorded a $780.0 million impairment on its investment in Enable, as further discussed in Notes 4 and 5.