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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES:        
Total revenues [1] $ 2,516 $ 2,625 $ 5,399 $ 5,487
OPERATING EXPENSES:        
Fuel 129 128 260 267
Purchased power 611 697 1,392 1,517
Other operating expenses 606 684 1,385 1,624
Provision for depreciation 309 283 606 560
Amortization (deferral) of regulatory assets, net 37 (107) 42 (255)
General taxes 239 240 500 494
Total operating expenses 1,931 1,925 4,185 4,207
OPERATING INCOME 585 700 1,214 1,280
OTHER INCOME (EXPENSE):        
Miscellaneous income, net 80 48 134 115
Interest expense (259) (355) (512) (603)
Capitalized financing costs 16 16 34 31
Total other expense (163) (291) (344) (457)
INCOME BEFORE INCOME TAXES 422 409 870 823
INCOME TAXES 81 101 174 334
INCOME FROM CONTINUING OPERATIONS 341 308 696 489
Discontinued operations (Note 3) [2] (29) (9) (64) 1,179
NET INCOME 312 299 632 1,668
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 4) 4 165 9 304
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 308 $ 134 $ 623 $ 1,364
EARNINGS PER SHARE OF COMMON STOCK (Note 4):        
Basic - Continuing Operations (in dollars per share) $ 0.63 $ 0.30 $ 1.29 $ 0.39
Basic - Discontinued Operations (in dollars per share) (0.05) (0.02) (0.12) 2.47
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 0.58 0.28 1.17 2.86
Diluted - Continuing Operations (in dollars per share) 0.63 0.30 1.29 0.39
Diluted - Discontinued Operations (in dollars per share) (0.05) (0.02) (0.12) 2.46
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 0.58 $ 0.28 $ 1.17 $ 2.85
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 532 477 531 477
Diluted, in shares 533 479 533 478
Excise taxes collected $ 81 $ 87 $ 183 $ 189
Income tax expense (benefit) 39 (16) 44 (887)
Distribution Services and Retail Generation [Member]        
REVENUES:        
Total revenues 1,931 2,049 4,240 4,344
Transmission [Member]        
REVENUES:        
Total revenues 367 336 719 655
Other [Member]        
REVENUES:        
Total revenues $ 218 $ 240 $ 440 $ 488
[1] Includes excise and gross receipts tax collections of $81 million and $87 million during the three months ended June 30, 2019 and 2018, respectively, and $183 million and $189 million during the six months ended June 30, 2019 and 2018, respectively.
[2] Net of income tax expense (benefits) of $39 million and $(16) million for the three months ended June 30, 2019 and 2018, respectively, and $44 million and $(887) million for the six months ended June 30, 2019 and 2018, respectively.