Financial Fundamentals

Annual Income Statement

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Electric Operations 8,812.00 8,867.00 8,970.00 9,299.00
Gas Operations 3,310.00 2,490.00 2,305.00 2,628.00
Revenue 12,122.00 11,357.00 11,275.00 11,927.00
Other Non-Utility Revenue 464.00 380.00 408.00 509.00
Other Revenue, Total 464.00 380.00 408.00 509.00
Total Revenue 12,586.00 11,737.00 11,683.00 12,436.00
Purchased Power 6.00 99.00 330.00 361.00
Fuel Purchased for Resale -- -- -- --
Cost of Revenue, Total 6.00 99.00 330.00 361.00
Fuel Expense 2,940.00 2,726.00 3,248.00 4,817.00
Operations & Maintenance 2,874.00 3,064.00 2,595.00 2,765.00
Depreciation 1,905.00 1,559.00 1,395.00 1,292.00
Depreciation/Amortization 1,905.00 1,559.00 1,395.00 1,292.00
Investment Income - Operating 63.00 66.00 28.00 -62.00
Interest/Investment Income - Operating 63.00 66.00 28.00 -62.00
Interest Expense (Income), Net-Operating, Total 63.00 66.00 28.00 -62.00
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) -- -- -- --
Property & Other Taxes 668.00 596.00 551.00 542.00
Other Operating Expenses, Total 668.00 596.00 551.00 542.00
Total Operating Expense 8,456.00 8,110.00 8,147.00 9,715.00
Operating Income 4,130.00 3,627.00 3,536.00 2,721.00
Interest Expense - Non-Operating -1,205.00 -1,010.00 -904.00 -1,193.00
Interest Expense, Net Non-Operating -1,205.00 -1,010.00 -904.00 -1,193.00
Investment Income, Non-Operating 14.00 -- -- --
Interest/Investment Income, Non-Operating 14.00 -- -- --
Interest Income (Expense), Net-Non-Operating, Total -1,191.00 -1,010.00 -904.00 -1,193.00
Other Non-Operating Income (Expense) 151.00 250.00 196.00 250.00
Other, Net 151.00 250.00 196.00 250.00
Net Income Before Taxes 3,090.00 2,867.00 2,828.00 1,778.00
Income Tax – Total 821.00 655.00 905.00 452.00
Income After Tax 2,269.00 2,212.00 1,923.00 1,326.00
Minority Interest -121.00 -89.00 -24.00 -16.00
Net Income Before Extraordinary Items 2,148.00 2,123.00 1,899.00 1,310.00
Discontinued Operations -- -- 0.00 0.00
Extraordinary Item 851.00 -- -- --
Total Extraordinary Items 851.00 -- 0.00 0.00
Net Income 2,999.00 2,123.00 1,899.00 1,310.00
Income Available to Common Excluding Extraordinary Items 2,148.00 2,123.00 1,899.00 1,310.00
Income Available to Common Stocks Including Extraordinary Items 2,999.00 2,123.00 1,899.00 1,310.00
Basic Weighted Average Shares 636.00 616.40 592.40 582.70
Basic EPS Excluding Extraordinary Items 3.38 3.44 3.21 2.25
Basic EPS Including Extraordinary Items 4.72 3.44 3.21 2.25
Dilution Adjustment -- -- -- --
Diluted Net Income 2,999.00 2,123.00 1,899.00 1,310.00
Diluted Weighted Average Shares 636.00 617.10 593.70 584.50
Diluted EPS Excluding Extraordinary Items 3.38 3.44 3.20 2.24
Diluted EPS Including Extraordinary Items 4.72 3.44 3.20 2.24
DPS - Common Stock Primary Issue 3.04 2.80 2.59 2.40
Gross Dividends - Common Stock 1,931.00 1,727.00 1,536.00 1,411.00
Impairment-Assets Held for Use, Supplemental -- -- -- --
Litigation Charge, Supplemental -- -- -- --
Other Unusual Expense (Income), Supplemental -- -- -- --
Non-Recurring Items, Total -- -- -- --
Total Special Items -- -- -- --
Normalized Income Before Taxes 3,090.00 2,867.00 2,828.00 1,778.00
Effect of Special Items on Income Taxes -- -- -- --
Income Taxes Excluding Impact of Special Items 821.00 655.00 905.00 452.00
Normalized Income After Taxes 2,269.00 2,212.00 1,923.00 1,326.00
Normalized Income Available to Common 2,148.00 2,123.00 1,899.00 1,310.00
Basic Normalized EPS 3.38 3.44 3.21 2.25
Diluted Normalized EPS 3.38 3.44 3.20 2.24
Amortization of Intangibles, Supplemental 80.00 73.00 78.00 71.00
Depreciation, Supplemental 2,122.00 1,776.00 1,591.00 1,489.00
Interest Expense, Supplemental 1,205.00 1,010.00 904.00 1,193.00
Interest Capitalized, Supplemental -236.00 -159.00 -100.00 -80.00
Rental Expense, Supplemental 113.00 104.00 99.00 92.00
Stock-Based Compensation, Supplemental 45.00 33.00 39.00 39.00
Equity in Affiliates, Supplemental 14.00 -- -- --
Minority Interest, Supplemental -121.00 -89.00 -24.00 -16.00
Audit-Related Fees, Supplemental 8.22 7.67 6.12 6.93
Audit-Related Fees 0.59 0.49 0.55 0.55
Tax Fees, Supplemental 0.00 0.00 0.00 0.00
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 0.02
Operating Margin 32.81 30.90 30.27 21.88
Pretax Margin 24.55 24.43 24.21 14.30
Effective Tax Rate 26.57 22.85 32.00 25.42
Net Profit Margin 17.07 18.09 16.25 10.53
Normalized EBIT 4,193.00 3,693.00 3,564.00 2,659.00
Normalized EBITDA 6,395.00 5,542.00 5,233.00 4,219.00
Current Tax - Domestic -1.00 -155.00 -24.00 -11.00
Current Tax - Local -26.00 85.00 75.00 14.00
Current Tax - Total -27.00 -70.00 51.00 3.00
Deferred Tax - Domestic 713.00 641.00 789.00 452.00
Deferred Tax - Local 132.00 50.00 66.00 -2.00
Deferred Tax - Total 845.00 691.00 855.00 450.00
Other Tax 3.00 34.00 -1.00 -1.00
Income Tax - Total 821.00 655.00 905.00 452.00
Interest Cost - Domestic 345.00 317.00 287.00 290.00
Service Cost - Domestic 138.00 118.00 126.00 114.00
Prior Service Cost - Domestic 1.00 1.00 2.00 3.00
Expected Return on Assets - Domestic -639.00 -573.00 -531.00 -499.00
Actuarial Gains and Losses - Domestic 162.00 111.00 160.00 111.00
Curtailments & Settlements - Domestic 0.00 0.00 0.00 1.00
Domestic Pension Plan Expense 7.00 -26.00 44.00 20.00
Interest Cost - Post-Retirement 60.00 65.00 67.00 67.00
Service Cost - Post-Retirement 26.00 31.00 40.00 32.00
Prior Service Cost - Post-Retirement -51.00 -35.00 -27.00 -28.00
Expected Return on Assets - Post-Retirement -128.00 -118.00 -117.00 -111.00
Actuarial Gains and Losses - Post-Retirement 13.00 8.00 6.00 2.00
Curtailments & Settlements - Post-Retirement 0.00 1.00 0.00 0.00
Post-Retirement Plan Expense -80.00 -48.00 -31.00 -38.00
Defined Contribution Expense - Domestic 45.00 44.00 43.00 41.00
Total Pension Expense -28.00 -30.00 56.00 23.00
Discount Rate - Domestic 4.50 4.99 -- 5.30
Discount Rate - Post-Retirement 4.47 4.94 4.40 5.10
Expected Rate of Return - Domestic 8.75 8.75 8.75 8.75
Expected Rate of Return - Post-Retirement 8.50 8.50 8.50 8.50
Compensation Rate - Domestic 3.29 4.22 4.22 4.22
Compensation Rate - Post-Retirement 4.09 4.22 4.22 4.21
Total Plan Interest Cost 405.00 382.00 354.00 357.00
Total Plan Service Cost 164.00 149.00 166.00 146.00
Total Plan Expected Return -767.00 -691.00 -648.00 -610.00

In millions of USD (except for per share items)

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