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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating revenues        
Electric $ 1,137 $ 1,048 $ 2,849 $ 2,608
Natural gas 235 177 1,087 930
Other 11 12 39 34
Total operating revenues 1,383 1,237 3,975 3,572
Operating expenses        
Electric fuel and purchased power 399 403 1,075 1,002
Cost of natural gas sold and transported 98 43 549 381
Cost of sales — other 4 5 13 11
O&M expenses 220 210 650 622
Demand side management expenses 32 34 97 98
Depreciation and amortization 219 189 627 557
Taxes (other than income taxes) 70 62 205 192
Total operating expenses 1,042 946 3,216 2,863
Operating income 341 291 759 709
Other (expense) income, net (4) 0 (4) 3
Allowance for funds used during construction — equity 8 7 22 19
Interest charges and financing costs        
Interest charges — includes other financing costs of $2, $2, $6 and $6, respectively 70 62 199 183
Allowance for funds used during construction — debt (3) (3) (8) (6)
Total interest charges and financing costs 67 59 191 177
Income before income taxes 278 239 586 554
Income tax expense 31 24 31 38
Net income $ 247 $ 215 $ 555 $ 516