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| Investor Information |
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| Condensed Consolidated Financials |
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|
condensed consolidated statements of income
IN MILLIONS OF DOLLARS, EXCEPT FOR PER SHARE DATA,
FOR THE YEARS ENDED DECEMBER 31, |
2001 |
|
2000 |
|
1999 |
 |
| Operating Revenues |
| Electric |
$ |
4,156 |
|
$ |
3,837 |
|
$ |
4,081 |
| Trading |
|
2,403 |
|
|
2,724 |
|
|
1,842 |
| Gas |
|
2,293 |
|
|
2,140 |
|
|
1,717 |
| Other |
|
963 |
|
|
794 |
|
|
687 |
|
| Total Operating Revenues |
|
9,815 |
|
|
9,495 |
|
|
8,327 |
|
| Operating Expenses |
| Electric Energy and Gas Costs |
|
2,715 |
|
|
2,431 |
|
|
2,029 |
| Trading Costs |
|
2,256 |
|
|
2,647 |
|
|
1,800 |
| Operation and Maintenance |
|
2,264 |
|
|
1,984 |
|
|
1,903 |
| Depreciation and Amortization |
|
522 |
|
|
362 |
|
|
536 |
| Taxes Other Than Income Taxes |
|
166 |
|
|
182 |
|
|
196 |
|
| Total Operating Expenses |
|
7,923 |
|
|
7,606 |
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|
6,464 |
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| Operating Income |
|
1,892 |
|
|
1,889 |
|
|
1,863 |
| Other Income and Deductions |
|
21 |
|
|
33 |
|
|
7 |
Interest Expense, Preferred Securities Dividend
Requirements and Premium on Redemption |
|
(777 |
) |
|
(668 |
) |
|
(584 |
) |
| Income Taxes |
|
(373 |
) |
|
(490 |
) |
|
(563 |
) |
|
Income Before Extraordinary Item and Cumulative
Effect of a Change in Accounting Principle |
|
763 |
|
|
764 |
|
|
723 |
| Extraordinary Item (Net of Tax) |
|
(2 |
) |
|
— |
|
|
(804 |
) |
| Cumulative Effect of a Change in Accounting Principle (Net of Tax) |
|
9 |
|
|
— |
|
|
— |
|
| Net Income (Loss) |
$ |
770 |
|
$ |
764 |
|
$ |
(81 |
) |
|
| Weighted Average Common Shares Outstanding (OOO's) |
|
208,226 |
|
|
215,121 |
|
|
219,814 |
|
| Earnings (Loss) Per Share (Basic and Diluted): |
Income Before Extraordinary Item and Cumulative Effect of
a Change in Accounting Principle |
$ |
3.67 |
|
$ |
3.55 |
|
$ |
3.29 |
| Extraordinary Item (Net of Tax) |
|
(0.01 |
) |
|
— |
|
|
(3.66 |
) |
| Cumulative Effect of a Change in Accounting Principle (Net of Tax) |
|
0.04 |
|
|
— |
|
|
— |
|
| Net Income (Loss) |
$ |
3.70 |
|
$ |
3.55 |
|
$ |
(0.37 |
) |
|
| Dividends Paid Per Share of Common Stock |
$ |
2.16 |
|
$ |
2.16 |
|
$ |
2.16 |
|
The detailed consolidated financial statements and related discussion appear in Appendix A to the Proxy Statement.
condensed consolidated statements of cash flows
| IN MILLIONS OF DOLLARS FOR THE YEARS ENDED DECEMBER 31, |
2001 |
|
2000 |
|
1999 |
|
| Net Income (Loss) |
$ |
770 |
|
$ |
764 |
|
$ |
(81 |
) |
| Adjustments to net income, primarily depreciation and amortization* |
|
572 |
|
|
465 |
|
|
1,509 |
|
| Net cash provided by operating activities |
|
1,342 |
|
|
1,229 |
|
|
1,428 |
|
| Cash flows used in investing activities |
Additions to Property, Plant and Equipment, excluding
Capitalized Interest and AFDC |
|
(2,053 |
) |
|
(959 |
) |
|
(582 |
) |
| Net change in Long-Term Investments |
|
(709 |
) |
|
(678 |
) |
|
(1,127 |
) |
| Acquisitions, net of Cash Provided |
|
(756 |
) |
|
(14 |
) |
|
(49 |
) |
| Other |
|
(260 |
) |
|
(53 |
) |
|
(70 |
) |
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| Net cash used in investing activities |
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(3,778 |
) |
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(1,704 |
) |
|
(1,828 |
) |
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Net cash provided by financing activities |
|
2,503 |
|
|
318 |
|
|
520 |
|
| Net increase (decrease) in Cash and Cash Equivalents |
|
67 |
|
|
(157 |
) |
|
120 |
| Cash and Cash Equivalents at Beginning of Period |
|
102 |
|
|
259 |
|
|
139 |
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| Cash and Cash Equivalents at End of Period |
$ |
169 |
|
$ |
102 |
|
$ |
259 |
|
*1999 includes extraordinary item of $804.
The detailed consolidated financial statements and related discussion appear in Appendix A to the Proxy Statement
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