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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES:      
Total revenues [1] $ 10,790 $ 11,035 $ 11,261
OPERATING EXPENSES:      
Fuel 369 497 538
Purchased power 2,701 2,927 3,109
Other operating expenses 3,291 2,952 3,133
Provision for depreciation 1,274 1,220 1,136
Deferral of regulatory assets, net (53) (79) (150)
General taxes 1,046 1,008 993
Total operating expenses 8,628 8,525 8,759
OPERATING INCOME 2,162 2,510 2,502
OTHER INCOME (EXPENSE):      
Miscellaneous income, net 432 243 205
Pension and OPEB mark-to-market adjustment (477) (674) (144)
Interest expense (1,065) (1,033) (1,116)
Capitalized financing costs 77 71 65
Total other expense (1,033) (1,393) (990)
INCOME BEFORE INCOME TAXES 1,129 1,117 1,512
INCOME TAXES 126 213 490
INCOME FROM CONTINUING OPERATIONS 1,003 904 1,022
Discontinued operations (Note 3) [2] 76 8 326
NET INCOME 1,079 912 1,348
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 1) 0 4 367
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 1,079 $ 908 $ 981
EARNINGS PER SHARE OF COMMON STOCK:      
Basic - Continuing Operations (in dollars per share) $ 1.85 $ 1.69 $ 1.33
Basic - Discontinued Operations (in dollars per share) 0.14 0.01 0.66
Basic - Net Income Attributable to Common Stockholders (in dollars per share) 1.99 1.70 1.99
Diluted - Continuing Operations (in dollars per share) 1.85 1.67 1.33
Diluted - Discontinued Operations (in dollars per share) 0.14 0.01 0.66
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ 1.99 $ 1.68 $ 1.99
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:      
Basic (in shares) 542 535 492
Diluted (in shares) 543 542 494
Distribution services and retail generation      
REVENUES:      
Total revenues $ 8,688 $ 8,720 $ 8,937
Transmission      
REVENUES:      
Total revenues 1,613 1,510 1,335
Other      
REVENUES:      
Total revenues $ 489 $ 805 $ 989
[1] Includes excise and gross receipts tax collections of $362 million, $373 million and $386 million in 2020, 2019 and 2018, respectively.
[2] Net of income tax benefit of $59 million, $5 million, and $1.3 billion in 2020, 2019 and 2018, respectively.