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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating revenues      
Electric $ 11,147 $ 11,446 $ 12,123
Natural Gas 2,230 2,645 3,080
Other 64 115 107
Total operating revenues 13,441 14,206 15,310
Operating expenses      
Electric fuel and purchased power 3,788 4,278 5,005
Cost of natural gas sold and transported 951 1,456 1,910
Cost of sales — other 14 49 44
Operating and maintenance expenses 2,540 2,444 2,491
Conservation and demand side management expenses 394 286 331
Depreciation and amortization 2,744 2,448 2,413
Taxes (other than income taxes) 624 657 688
Loss on Comanche Unit 3 litigation 0 35 0
Workforce reduction expenses 0 72 0
Total operating expenses 11,055 11,725 12,882
Operating income 2,386 2,481 2,428
Other income (expense), net 143 22 (13)
Earnings from equity method investments 19 35 36
Allowance for funds used during construction — equity 168 91 75
Interest charges and financing costs      
Interest charges — includes other financing costs 1,255 1,055 953
Allowance for funds used during construction — debt (73) (51) (28)
Total interest charges and financing costs 1,182 1,004 925
Income before income taxes 1,534 1,625 1,601
Income tax benefit (402) (146) (135)
Net income $ 1,936 $ 1,771 $ 1,736
Weighted average common shares outstanding:      
Basic 563 552 547
Diluted [1] 563 552 547
Earnings per average common share:      
Basic $ 3.44 $ 3.21 $ 3.18
Diluted $ 3.44 $ 3.21 $ 3.17
[1] Diluted common shares outstanding included common stock equivalents of 0.5 million, 0.3 million, and 0.3 million shares for 2024, 2023 and 2022, respectively.