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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating revenues      
Electric $ 3,795 $ 3,413 $ 3,116
Natural gas 1,860 1,355 1,024
Other 53 47 43
Total operating revenues 5,708 4,815 4,183
Operating expenses      
Electric fuel and purchased power 1,485 1,336 1,132
Cost of natural gas sold and transported 1,053 606 374
Cost of sales — steam and other 18 15 13
Operating and maintenance expenses 905 831 811
Demand side management expenses 133 132 141
Depreciation and amortization 848 744 655
Taxes (other than income taxes) 272 256 234
Total operating expenses 4,714 3,920 3,360
Operating income 994 895 823
Other (expense) income, net (2) 4 (1)
Allowance for funds used during construction — equity 32 28 35
Interest charges and financing costs      
Interest charges — includes other financing costs of $8, $8 and $7, respectively (271) (243) (238)
Allowance for funds used during construction — debt (11) (9) (14)
Total interest charges and financing costs 260 234 224
Income before income taxes 764 693 633
Income tax expense 37 33 45
Net income $ 727 $ 660 $ 588