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Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES:        
Total revenues [1] $ 2,963 $ 3,064 $ 8,362 $ 8,551
OPERATING EXPENSES:        
Fuel 122 137 382 404
Purchased power 798 876 2,190 2,393
Other operating expenses 758 739 2,143 2,363
Provision for depreciation 304 283 910 843
Amortization (deferral) of regulatory assets, net 43 67 85 (188)
General taxes 257 252 757 746
Total operating expenses 2,282 2,354 6,467 6,561
OPERATING INCOME 681 710 1,895 1,990
OTHER INCOME (EXPENSE):        
Miscellaneous income, net 57 49 191 164
Interest expense (261) (255) (773) (858)
Capitalized financing costs 19 16 53 47
Total other expense (185) (190) (529) (647)
INCOME BEFORE INCOME TAXES 496 520 1,366 1,343
INCOME TAXES 107 121 281 455
INCOME FROM CONTINUING OPERATIONS 389 399 1,085 888
Discontinued operations (Note 3) [2] 2 (857) (62) 322
NET INCOME (LOSS) 391 (458) 1,023 1,210
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 4) 0 54 7 357
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 391 $ (512) $ 1,016 $ 853
EARNINGS PER SHARE OF COMMON STOCK (Note 4):        
Basic - Continuing Operations (in dollars per share) $ 0.72 $ 0.68 $ 2.02 $ 1.10
Basic - Discontinued Operations (in dollars per share) 0.01 (1.70) (0.12) 0.66
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 0.73 (1.02) 1.90 1.76
Diluted - Continuing Operations (in dollars per share) 0.72 0.68 2.00 1.09
Diluted - Discontinued Operations (in dollars per share) 0 (1.70) (0.11) 0.66
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 0.72 $ (1.02) $ 1.89 $ 1.75
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 538 503 533 485
Diluted, in shares 542 505 541 487
Excise taxes collected $ 100 $ 104 $ 283 $ 293
Income tax expense (benefit) 2 (342) 46 (1,200)
Distribution Services and Retail Generation [Member]        
REVENUES:        
Total revenues 2,411 2,463 6,651 6,807
Transmission [Member]        
REVENUES:        
Total revenues 371 341 1,090 996
Other [Member]        
REVENUES:        
Total revenues $ 181 $ 260 $ 621 $ 748
[1] Includes excise and gross receipts tax collections of $100 million and $104 million during the three months ended September 30, 2019 and 2018, respectively, and $283 million and $293 million during the nine months ended September 30, 2019 and 2018, respectively.
[2] Net of income tax expense (benefits) of $2 million and $(342) million for the three months ended September 30, 2019 and 2018, respectively, and $46 million and $(1.2) billion for the nine months ended September 30, 2019 and 2018, respectively.