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Consolidated Statement Of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Operating Revenue        
Power Delivery $ 984 $ 1,093 $ 2,039 $ 2,342
Pepco Energy Services 185 311 413 688
Other 10 8 19 20
Total Operating Revenue 1,179 1,412 2,471 3,050
Operating Expenses        
Fuel and purchased energy 555 812 1,239 1,811
Other services cost of sales 49 43 94 86
Other operation and maintenance 224.0 209.0 449.0 443.0
Depreciation and amortization 111 105 221 210
Other taxes 105 109 209 220
Gain on early termination of finance leases held in trust   (39)   (39)
Deferred electric service costs (20) (29) (35) (32)
Impairment losses 3   3  
Total Operating Expenses 1,027 [1] 1,210 [2] 2,180 [3] 2,699 [4]
Operating Income 152 202 291 351
Other Income (Expenses)        
Interest expense (65) (63) (130) (125)
Loss from equity investments       (1)
Other income 10 10 18 20
Total Other Expenses (55) (53) (112) (106)
Income from Continuing Operations Before Income Tax Expense 97 149 179 245
Income Tax Expense Related to Continuing Operations 35 54 49 88
Income Tax (Benefit) Expense 35 54 [5] 49 88 [5]
Net Income from Continuing Operations 62 95 130 157
(Loss) Income from Discontinued Operations, net of Income Taxes 0 (1) 0 1
Net Income 62 94 130 158
Basic and Diluted Share Information        
Weighted average shares outstanding - Basic (millions) 228 226 228 226
Weighted average shares outstanding - Diluted (millions) 229 226 229 226
Earnings per share of common stock from Continuing Operations - Basic and Diluted $ 0.27 $ 0.42 $ 0.57 $ 0.69
Earnings per share of common stock from Discontinued Operations - Basic and Diluted       $ 0.01
Basic and diluted earnings per share $ 0.27 $ 0.42 $ 0.57 $ 0.70
Potomac Electric Power Co [Member]
       
Operating Revenue        
Total Operating Revenue 456 506 921 1,040
Operating Expenses        
Purchased energy 160 218 345 473
Other operation and maintenance 101.0 100.0 204.0 202.0
Depreciation and amortization 48 42 95 84
Other taxes 92 94 182 186
Total Operating Expenses 401 454 826 945
Operating Income 55 52 95 95
Other Income (Expenses)        
Interest expense (24) (22) (49) (46)
Other income 4 4 8 10
Total Other Expenses (20) (18) (41) (36)
Income from Continuing Operations Before Income Tax Expense 35 34 54 59
Income Tax Expense Related to Continuing Operations 8 2 3 9
Income Tax (Benefit) Expense 8 2 3 9
Net Income 27 32 51 50
Delmarva Power & Light Co/De [Member]
       
Operating Revenue        
Electric 235 245 494 543
Natural gas 24 39 98 141
Total Operating Revenue 259 284 592 684
Operating Expenses        
Purchased energy 122 145 265 327
Gas purchased 13 25 62 96
Other operation and maintenance 62.0 47.0 127.0 112.0
Depreciation and amortization 25 22 49 44
Other taxes 7 9 16 20
Total Operating Expenses 229 248 519 599
Operating Income 30 36 73 85
Other Income (Expenses)        
Interest expense (11) (11) (22) (22)
Other income 3 2 6 4
Total Other Expenses (8) (9) (16) (18)
Income from Continuing Operations Before Income Tax Expense 22 27 57 67
Income Tax Expense Related to Continuing Operations 9 5 23 22
Income Tax (Benefit) Expense 9 5 23 22
Net Income 13 22 34 45
Atlantic City Electric Co [Member]
       
Operating Revenue        
Total Operating Revenue 270 304 526 619
Operating Expenses        
Purchased energy 163 196 329 394
Other operation and maintenance 56.0 51.0 112.0 106.0
Depreciation and amortization 27 33 55 66
Other taxes 4 5 8 11
Deferred electric service costs (20) (29) (35) (32)
Total Operating Expenses 230 256 469 545
Operating Income 40 48 57 74
Other Income (Expenses)        
Interest expense (18) (18) (35) (33)
Other income 1 2 2 2
Total Other Expenses (17) (16) (33) (31)
Income from Continuing Operations Before Income Tax Expense 23 32 24 43
Income Tax Expense Related to Continuing Operations 9 14 8 19
Income Tax (Benefit) Expense 9 14 8 19
Net Income $ 14 $ 18 $ 16 $ 24
[1] Includes depreciation and amortization expense of $111 million, consisting of $100 million for Power Delivery, $4 million for Pepco Energy Services and $7 million for Corporate and Other.
[2] Includes depreciation and amortization expense of $105 million, consisting of $97 million for Power Delivery, $5 million for Pepco Energy Services, $1 million for Other Non-Regulated and $2 million for Corporate and Other.
[3] Includes depreciation and amortization expense of $221 million, consisting of $199 million for Power Delivery, $10 million for Pepco Energy Services, $1 million for Other Non-Regulated and $11 million for Corporate and Other.
[4] Includes depreciation and amortization expense of $210 million, consisting of $194 million for Power Delivery, $9 million for Pepco Energy Services, $1 million for Other Non-Regulated and $6 million for Corporate and Other.
[5] Includes tax benefits of $14 million for Power Delivery primarily associated with an interest benefit related to federal tax liabilities and a $22 million reversal of previously recognized tax benefits for Other Non-Regulated associated with the early termination of finance leases held in trust.