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CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
OPERATING REVENUES        
TOTAL OPERATING REVENUES $ 4,165 $ 3,613 $ 11,639 $ 10,261
OPERATING EXPENSES        
Depreciation and amortization 525 512 1,593 1,511
Taxes, other than income taxes 777 727 2,248 2,103
TOTAL OPERATING EXPENSES 3,276 2,763 9,565 8,132
OPERATING INCOME 889 850 2,074 2,129
OTHER INCOME (DEDUCTIONS)        
Investment income (loss) 5 5 15 (180)
Other income 101 5 296 19
Allowance for equity funds used during construction 4 5 15 15
Other deductions (21) (37) (57) (113)
TOTAL OTHER INCOME (DEDUCTIONS) 89 (22) 269 (259)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 978 828 2,343 1,870
INTEREST EXPENSE (INCOME)        
Interest on long-term debt 246 235 728 693
Other interest expense (income) (32) (2) (119) (15)
Allowance for borrowed funds used during construction (15) (1) (23) (9)
NET INTEREST EXPENSE 199 232 586 669
INCOME BEFORE INCOME TAX EXPENSE 779 596 1,757 1,201
INCOME TAX EXPENSE 160 127 330 194
NET INCOME 619 469 1,427 1,007
Income (loss) attributable to non-controlling interest 6 (69) (43) (115)
NET INCOME $ 613 $ 538 $ 1,470 $ 1,122
Net income per common share - basic (dollars per share) $ 1.73 $ 1.52 $ 4.15 $ 3.23
Net income per common share - diluted (dollars per share) $ 1.72 $ 1.52 $ 4.13 $ 3.23
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares) 354.6 353.4 354.4 346.8
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares) 355.9 354.1 355.7 347.5
Electric        
OPERATING REVENUES        
TOTAL OPERATING REVENUES $ 3,328 $ 2,952 $ 7,994 $ 7,180
Gas        
OPERATING REVENUES        
TOTAL OPERATING REVENUES 453 341 2,345 1,907
OPERATING EXPENSES        
Operating costs 185 83 833 461
Steam        
OPERATING REVENUES        
TOTAL OPERATING REVENUES 58 55 444 393
Non-utility        
OPERATING REVENUES        
TOTAL OPERATING REVENUES 326 265 856 781
Purchased power        
OPERATING EXPENSES        
Operating costs 731 548 1,851 1,448
Fuel        
OPERATING EXPENSES        
Operating costs 59 44 255 166
Other operations and maintenance        
OPERATING EXPENSES        
Operating costs $ 999 $ 849 $ 2,785 $ 2,443