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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES:        
Regulated Distribution $ 2,352 $ 2,271 $ 4,928 $ 4,771
Regulated Transmission 341 327 664 640
Other 11 26 88 68
Total revenues(1) [1] 2,704 2,624 5,680 5,479
OPERATING EXPENSES:        
Fuel 177 163 364 367
Purchased power 698 650 1,523 1,441
Other operating expenses 705 675 1,667 1,332
Provision for depreciation 299 254 593 504
Amortization (deferral) of regulatory assets, net (107) 78 (255) 161
General taxes 245 230 504 472
Total operating expenses 2,017 2,050 4,396 4,277
OPERATING INCOME 687 574 1,284 1,202
OTHER INCOME (EXPENSE):        
Miscellaneous income, net 48 11 115 25
Interest expense (369) (248) (619) (493)
Capitalized financing costs 16 14 31 26
Total other expense (305) (223) (473) (442)
INCOME BEFORE INCOME TAXES 382 351 811 760
INCOME TAXES 115 132 367 284
INCOME FROM CONTINUING OPERATIONS 267 219 444 476
Discontinued operations (Note 3)(2) [2] 32 (45) 1,224 (97)
NET INCOME 299 174 1,668 379
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 4) 165 0 304 0
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 134 $ 174 $ 1,364 $ 379
EARNINGS PER SHARE OF COMMON STOCK (Note 4):        
Basic - Continuing Operations (in dollars per share) $ 0.22 $ 0.49 $ 0.29 $ 1.07
Basic - Discontinued Operations (in dollars per share) 0.06 (0.10) 2.57 (0.21)
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 0.28 0.39 2.86 0.86
Diluted - Continuing Operations (in dollars per share) 0.22 0.49 0.29 1.07
Diluted - Discontinued Operations (in dollars per share) 0.06 (0.10) 2.56 (0.22)
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 0.28 $ 0.39 $ 2.85 $ 0.85
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 477 444 477 443
Diluted, in shares 479 445 478 444
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK, in dollars per share $ 0 $ 0 $ 0.72 $ 0.72
Excise taxes collected $ 87 $ 91 $ 189 $ 191
Income tax expense (benefit) $ 30 $ 15 $ 920 $ 41
[1] Includes excise tax collections of $87 million and $91 million in the three months ended June 30, 2018 and 2017, respectively, and $189 million and $191 million in the six months ended June 30, 2018 and 2017, respectively.
[2] Net of income tax benefits of $30 million and $15 million for the three months ended June 30, 2018 and 2017, respectively, and income tax benefits of $920 million and $41 million for the six months ended June 30, 2018 and 2017, respectively.