Financial Statements Selected Financial Data In millions, except per share amounts 1998 1997a 1996a 1995a 1994a Income Statement Operating revenues $ 17,610 $ 16,309 $ 12,302 $ 9,694 $ 9,115 Operating expenses 15,177 14,339 10,143 7,626 7,309   Operating income 2,433 1,970 2,159 2,068 1,806 Other income and expenses 214 138 135 122 101   Earnings before interest and taxes 2,647 2,108 2,294 2,190 1,907 Interest expense 514 472 499 508 485 Minority interest 96 23 6 --  --    Earnings before income taxes 2,037 1,613 1,789 1,682 1,422 Income taxes 777 639 698 664 558   Income before extraordinary item 1,260 974 1,091 1,018 864 Extraordinary loss, net of tax (8 ) --  (17 ) --  --    Net income 1,252 974 1,074 1,018 864 Dividends and premiums on redemptions of preferred and preference stock 21 72 44 49 50   Earnings available for common stockholders $ 1,231 $ 902 $ 1,030 $ 969 $ 814 Common Stock Data Shares of common stock outstanding    Year-end 363 360 359 362 361    Weighted average 361 360 361 361 360 Earnings per share (before extraordinary item)    Basic $ 3.43 $ 2.51 $ 2.90 $ 2.68 $ 2.26    Dilutive $ 3.42 $ 2.50 $ 2.88 $ 2.67 $ 2.25 Earnings per share    Basic $ 3.41 $ 2.51 $ 2.85 $ 2.68 $ 2.26    Dilutive $ 3.40 $ 2.50 $ 2.83 $ 2.67 $ 2.25 Dividends per share $ 2.20 $ 1.90 $ 1.57 $ 1.50 $ 1.44 Balance Sheet Total assets $ 26,806 $ 24,029 $ 22,366 $ 20,868 $ 20,254 Long-term debt $ 6,272 $ 6,530 $ 5,485 $ 5,803 $ 5,931 Preferred stock with sinking fund requirements $ 124 $ 149 $ 234 $ 234 $ 280 a Financial information reflects accounting for the 1997 merger with PanEnergy Corp as a pooling of interests. As a result, the financial information gives effect to the merger as if it had occurred January 1, 1994.