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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating revenues      
Electric $ 9,575 $ 9,719 $ 9,676
Natural Gas 1,868 1,739 1,650
Other 86 79 78
Total operating revenues 11,529 11,537 11,404
Operating expenses      
Electric fuel and purchased power 3,510 3,854 3,757
Cost of natural gas sold and transported 918 843 823
Cost of sales — other 40 35 34
Operating and maintenance expenses 2,338 2,352 2,270
Conservation and demand side management program expenses 285 290 273
Depreciation and amortization 1,765 1,642 1,479
Taxes (other than income taxes) 569 556 545
Total operating expenses 9,425 9,572 9,181
Operating income 2,104 1,965 2,223
Other income (expense), net 16 (14) (10)
Equity earnings of unconsolidated subsidiaries 39 35 30
Allowance for funds used during construction — equity 77 108 75
Interest charges and financing costs      
Interest charges — includes other financing costs of $26, $25 and $24, respectively 773 700 663
Allowance for funds used during construction — debt (37) (48) (35)
Total interest charges and financing costs 736 652 628
Income before income taxes 1,500 1,442 1,690
Income taxes 128 181 542
Net income $ 1,372 $ 1,261 $ 1,148
Weighted average common shares outstanding:      
Basic (in shares) 519 511 509
Diluted (in shares) 520 511 509
Earnings per average common share:      
Basic (in dollars per share) $ 2.64 $ 2.47 $ 2.26
Diluted (in dollars per share) $ 2.64 $ 2.47 $ 2.25