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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues        
Electric $ 1,113 $ 1,137 $ 2,877 $ 2,849
Natural gas 165 235 1,247 1,087
Other 12 11 41 39
Total operating revenues 1,290 1,383 4,165 3,975 [1]
Operating expenses        
Electric fuel and purchased power 356 399 1,055 1,075
Cost of natural gas sold and transported 44 98 660 549
Cost of sales — other 5 4 13 13
Operating and maintenance expenses 196 220 648 650
Demand side management expenses 39 32 106 97
Depreciation and amortization 235 219 693 627
Taxes (other than income taxes) 71 70 216 205
Total operating expenses 980 1,042 3,425 3,216
Operating income 310 341 740 759
Other income (expense), net 1 (4) 7 (4)
Allowance for funds used during construction — equity 12 8 25 22
Interest charges and financing costs        
Interest charges — includes other financing costs of $2, $2, $6 and $6, respectively 79 70 228 199
Allowance for funds used during construction — debt (6) (3) (13) (8)
Total interest charges and financing costs 73 67 215 191
Income before income taxes 250 278 557 586
Income tax expense 21 31 21 31
Net income 229 247 536 555
Gain (Loss) Related to Litigation Settlement $ 34 $ 0 $ 34 $ 0
[1] Total revenues include $3 million and $4 million of other affiliate revenue for the nine months ended Sept. 30, 2023 and 2022.