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Item 6. Selected Financial Data.
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 Print |
 |
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(in millions, except per share amounts)
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Income Statement |
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Operating revenues (b) |
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$ |
15,663 |
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$ |
18,197 |
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$ |
15,342 |
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$ |
10,135 |
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$ |
8,636 |
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Operating expenses (b) |
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13,212 |
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14,494 |
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|
12,253 |
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8,560 |
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|
6,278 |
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Gains on sale of other assets, net |
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49 |
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238 |
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214 |
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132 |
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48 |
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Operating income |
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2,500 |
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3,941 |
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3,303 |
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1,707 |
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2,406 |
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Other income and expenses, net |
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369 |
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315 |
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|
711 |
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336 |
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241 |
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Interest expense |
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1,110 |
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|
785 |
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|
911 |
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601 |
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514 |
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Minority interest expense |
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107 |
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327 |
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307 |
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142 |
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96 |
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Earnings before income taxes |
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1,652 |
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3,144 |
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2,796 |
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1,300 |
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|
2,037 |
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Income taxes |
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618 |
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1,150 |
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1,020 |
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453 |
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777 |
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Income before extraordinary item
and cumulative effect of change
in accounting principle |
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1,034 |
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1,994 |
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1,776 |
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847 |
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1,260 |
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Extraordinary gain (loss), net of tax |
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— |
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— |
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— |
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660 |
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(8 |
) |
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Cumulative effect of change in
accounting principle, net of tax |
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— |
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(96 |
) |
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— |
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— |
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— |
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Net income |
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1,034 |
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1,898 |
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1,776 |
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1,507 |
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1,252 |
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Preferred and preference stock
dividends |
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13 |
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14 |
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19 |
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20 |
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21 |
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Earnings available for common
stockholders |
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$ |
1,021 |
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$ |
1,884 |
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$ |
1,757 |
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$ |
1,487 |
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$ |
1,231 |
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Ratio of Earnings to Fixed Charges |
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2.1 |
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3.8 |
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3.6 |
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2.7 |
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4.5 |
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Common Stock Data (c) |
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Shares of common stock outstanding |
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Year-end |
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895 |
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777 |
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739 |
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733 |
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726 |
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Weighted average |
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836 |
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767 |
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736 |
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729 |
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722 |
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Earnings per share (before
extraordinary item and
cumulative effect of change
in accounting principle) |
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Basic |
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$ |
1.22 |
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$ |
2.58 |
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$ |
2.39 |
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$ |
1.13 |
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$ |
1.72 |
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Diluted |
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1.22 |
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2.56 |
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2.38 |
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1.13 |
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1.71 |
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Earnings per share |
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Basic |
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$ |
1.22 |
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$ |
2.45 |
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$ |
2.39 |
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$ |
2.04 |
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$ |
1.70 |
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Diluted |
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1.22 |
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2.44 |
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2.38 |
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2.03 |
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1.70 |
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Dividends per share |
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1.10 |
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1.10 |
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1.10 |
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1.10 |
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1.10 |
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Balance Sheet |
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Total assets |
|
$ |
60,966 |
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$ |
48,531 |
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$ |
58,232 |
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$ |
33,409 |
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$ |
26,806 |
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Long-term debt, less current
maturities |
|
|
20,221 |
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12,321 |
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10,717 |
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8,683 |
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6,272 |
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(a) |
|
Financial information reflects a pre-tax $800 million charge for estimated injuries and damages claims. The earnings-per-share effect of this charge was $0.67 per share. |
| (b) |
|
Operating revenues and expenses have been updated to the extent required to show the impact of the gross versus net presentation of revenues under the partial consensus reached in June 2002 on Emerging Issues Task Force Issue No. 02-03, “Issues Involved in Accounting for Derivative Contracts Held for Trading and Risk Management Activities.” In the calculation of net revenues, Duke Energy has continued to enhance its methodologies around the application of this complex accounting literature since the third quarter of 2002 when these trading revenues were first reported on a net basis. (See Note 1 to the Consolidated Financial Statements, “Summary of Significant Accounting Policies,” for further discussion.) |
| (c) |
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Amounts prior to 2001 were restated to reflect the two-for-one common stock split effective January 26, 2001. |
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