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CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING REVENUES        
Total operating revenues $ 3,415 $ 2,971 $ 7,475 $ 6,648
OPERATING EXPENSES        
Depreciation and amortization 539 502 1,068 1,000
Taxes, other than income taxes 718 672 1,471 1,375
TOTAL OPERATING EXPENSES 3,028 2,553 6,290 5,369
OPERATING INCOME 387 418 1,185 1,279
OTHER INCOME (DEDUCTIONS)        
Investment income (loss) 5 (24) 10 (185)
Other income 113 7 196 14
Allowance for equity funds used during construction 5 5 10 10
Other deductions (34) (38) (35) (76)
TOTAL OTHER INCOME (DEDUCTIONS) 89 (50) 181 (237)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 476 368 1,366 1,042
INTEREST EXPENSE (INCOME)        
Interest on long-term debt 242 230 482 458
Other interest expense (income) (32) 35 (87) (14)
Allowance for borrowed funds used during construction (5) (4) (8) (8)
NET INTEREST EXPENSE 205 261 387 436
INCOME BEFORE INCOME TAX EXPENSE 271 107 979 606
INCOME TAX EXPENSE (BENEFIT) 17 (11) 171 68
NET INCOME 254 118 808 538
Loss attributable to non-controlling interest (1) (47) (49) (46)
NET INCOME $ 255 $ 165 $ 857 $ 584
Net income per common share - basic (dollars per share) $ 0.72 $ 0.48 $ 2.42 $ 1.70
Net income per common share - diluted (dollars per share) $ 0.72 $ 0.48 $ 2.41 $ 1.70
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 354.3 345.4 354.2 344.0
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 355.5 346.2 355.3 344.8
Electric        
OPERATING REVENUES        
Total operating revenues $ 2,416 $ 2,115 $ 4,666 $ 4,228
Gas        
OPERATING REVENUES        
Total operating revenues 643 490 1,893 1,566
OPERATING EXPENSES        
Operating costs 205 83 649 379
Steam        
OPERATING REVENUES        
Total operating revenues 84 74 386 338
Non-utility        
OPERATING REVENUES        
Total operating revenues 272 292 530 516
Purchased power        
OPERATING EXPENSES        
Operating costs 633 463 1,120 900
Fuel        
OPERATING EXPENSES        
Operating costs 52 29 196 122
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 881 $ 804 $ 1,786 $ 1,593