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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES:    
Total revenues [1] $ 2,726 $ 2,709
OPERATING EXPENSES:    
Fuel 118 98
Purchased power 718 694
Other operating expenses 752 749
Provision for depreciation 323 317
Amortization of regulatory assets, net 92 52
General taxes 273 267
Gain on sale of Yards Creek (109) 0
Total operating expenses 2,167 2,177
OPERATING INCOME 559 532
OTHER INCOME (EXPENSE):    
Miscellaneous income, net 135 100
Pension and OPEB mark-to-market adjustment (Note 5) 0 (423)
Interest expense (285) (263)
Capitalized financing costs 13 18
Total other expense (137) (568)
INCOME (LOSS) BEFORE INCOME TAXES (BENEFITS) 422 (36)
INCOME TAXES (BENEFITS) 87 (60)
INCOME FROM CONTINUING OPERATIONS 335 24
Discontinued operations (Note 3) [2] 0 50
NET INCOME $ 335 $ 74
EARNINGS PER SHARE OF COMMON STOCK (Note 4):    
Basic - Continuing Operations (in dollars per share) $ 0.62 $ 0.05
Basic - Discontinued Operations (in dollars per share) 0 0.09
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 0.62 0.14
Diluted - Continuing Operations (in dollars per share) 0.62 0.05
Diluted - Discontinued Operations (in dollars per share) 0 0.09
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 0.62 $ 0.14
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:    
Basic, in shares 543 541
Diluted, in shares 544 543
Distribution Services and Retail Generation    
REVENUES:    
Total revenues $ 2,236 $ 2,124
Transmission    
REVENUES:    
Total revenues 401 397
Other    
REVENUES:    
Total revenues $ 89 $ 188
[1] Includes excise and gross receipts tax collections of $95 million and $92 million during the three months ended March 31, 2021 and 2020, respectively.
[2] Net of income tax benefits of $36 million for the three months ended March 31, 2020.