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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING REVENUES      
TOTAL OPERATING REVENUES $ 15,670 $ 13,676 $ 12,246
OPERATING EXPENSES      
Depreciation and amortization 2,056 2,032 1,920
Taxes, other than income taxes 3,005 2,810 2,575
TOTAL OPERATING EXPENSES 13,046 10,850 9,592
OPERATING INCOME 2,624 2,826 2,654
OTHER INCOME (DEDUCTIONS)      
Investment income (loss) 20 (420) (214)
Other income 402 22 23
Allowance for equity funds used during construction 19 21 17
Other deductions (115) (161) (227)
TOTAL OTHER INCOME (DEDUCTIONS) 326 (538) (401)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE 2,950 2,288 2,253
INTEREST EXPENSE      
Interest on long-term debt 987 930 915
Other interest (99) (14) 118
Allowance for borrowed funds used during construction (36) (11) (14)
NET INTEREST EXPENSE 852 905 1,019
INCOME BEFORE INCOME TAX EXPENSE 2,098 1,383 1,234
INCOME TAX EXPENSE 498 190 90
NET INCOME 1,600 1,193 1,144
(Loss) Income attributable to non-controlling interest (60) (153) 43
NET INCOME $ 1,660 $ 1,346 $ 1,101
Net income per common share — basic (in dollars per share) $ 4.68 $ 3.86 $ 3.29
Net income per common share — diluted (in dollars per share) $ 4.66 $ 3.85 $ 3.28
AVERAGE NUMBER OF SHARES OUTSTANDING — BASIC (in shares) 354.5 348.4 334.8
AVERAGE NUMBER OF SHARES OUTSTANDING — DILUTED (in shares) 355.8 349.4 335.7
Electric      
OPERATING REVENUES      
TOTAL OPERATING REVENUES $ 10,522 $ 9,485 $ 8,730
Gas      
OPERATING REVENUES      
TOTAL OPERATING REVENUES 3,237 2,638 2,269
OPERATING EXPENSES      
Operating costs 1,245 690 527
Steam      
OPERATING REVENUES      
TOTAL OPERATING REVENUES 593 532 508
Non-utility      
OPERATING REVENUES      
TOTAL OPERATING REVENUES 1,318 1,021 739
Purchased power      
OPERATING EXPENSES      
Operating costs 2,479 1,835 1,600
Fuel      
OPERATING EXPENSES      
Operating costs 356 229 156
Other operations and maintenance      
OPERATING EXPENSES      
Operating costs $ 3,905 $ 3,254 $ 2,814