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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Total revenues $ 3,022 [1] $ 2,963 [1] $ 8,253 $ 8,362
OPERATING EXPENSES:        
Fuel 101 122 276 382
Purchased power 766 798 2,073 2,190
Other operating expenses 937 758 2,416 2,143
Provision for depreciation 316 304 954 910
Amortization (deferral) of regulatory assets, net (91) 43 (26) 85
General taxes 272 257 792 757
Total operating expenses 2,301 2,282 6,485 6,467
OPERATING INCOME 721 681 1,768 1,895
OTHER INCOME (EXPENSE):        
Miscellaneous income, net 100 57 303 191
Pension and OPEB mark-to-market adjustment (Note 5) 0 0 (423) 0
Interest expense (266) (261) (792) (773)
Capitalized financing costs 21 19 57 53
Total other expense (145) (185) (855) (529)
INCOME BEFORE INCOME TAXES 576 496 913 1,366
INCOME TAXES 116 107 122 281
INCOME FROM CONTINUING OPERATIONS 460 389 791 1,085
Discontinued operations (Note 3) (6) [2] 2 [2] 46 (62)
NET INCOME 454 391 837 1,023
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 4) 0 0 0 7
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 454 $ 391 $ 837 $ 1,016
EARNINGS PER SHARE OF COMMON STOCK (Note 4):        
Basic - Continuing Operations (in dollars per share) $ 0.85 $ 0.72 $ 1.46 $ 2.02
Basic - Discontinued Operations (in dollars per share) (0.01) 0.01 0.08 (0.12)
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 0.84 0.73 1.54 1.90
Diluted - Continuing Operations (in dollars per share) 0.85 0.72 1.46 2.00
Diluted - Discontinued Operations (in dollars per share) (0.01) 0 0.08 (0.11)
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 0.84 $ 0.72 $ 1.54 $ 1.89
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 542 538 542 533
Diluted, in shares 543 542 543 541
Distribution Services and Retail Generation        
REVENUES:        
Total revenues $ 2,470 $ 2,411 $ 6,624 $ 6,651
Transmission        
REVENUES:        
Total revenues 408 371 1,185 1,090
Other        
REVENUES:        
Total revenues $ 144 $ 181 $ 444 $ 621
[1] Includes excise and gross receipts tax collections of $100 million during each of the three months ended September 30, 2020 and 2019, and $276 million and $283 million during the nine months ended September 30, 2020 and 2019, respectively.
[2] Net of income tax expense (benefits) of $6 million and $2 million for the three months ended September 30, 2020 and 2019, respectively, and $(29) million and $46 million for the nine months ended September 30, 2020 and 2019, respectively.