|
|
Consolidated Statements of Income
|
|
 |
|
|
|
|
|
| |
|
|
|
|
|
|
(in millions, except
per-share amounts)
|
|
|
Operating Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of natural gas and petroleum products
(Notes 1 and 7) |
|
$ |
4,870 |
|
$ |
6,194 |
|
|
$ |
4,877 |
|
|
Generation, transmission and distribution of electricity
(Notes 1 and 4) |
|
|
7,040 |
|
|
7,195 |
|
|
|
7,488 |
|
|
Transportation and storage of natural gas (Notes 1 and 4) |
|
|
1,560 |
|
|
994 |
|
|
|
1,045 |
|
|
Trading and marketing net margin (Notes 1 and 7) |
|
|
1,084 |
|
|
2,462 |
|
|
|
1,068 |
|
|
Other |
|
|
1,109 |
|
|
1,352 |
|
|
|
864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating revenues |
|
|
15,663 |
|
|
18,197 |
|
|
|
15,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas and petroleum products purchased (Note 1) |
|
|
4,740 |
|
|
6,559 |
|
|
|
4,850 |
|
|
Fuel used in electric generation (Notes 1 and 12) |
|
|
1,606 |
|
|
1,583 |
|
|
|
1,943 |
|
|
Net interchange and purchased power (Notes 1, 4 and 5) |
|
|
608 |
|
|
450 |
|
|
|
406 |
|
|
Operation and maintenance (Notes 4 and 12) |
|
|
3,958 |
|
|
4,099 |
|
|
|
3,469 |
|
|
Depreciation and amortization (Notes 1 and 5) |
|
|
1,571 |
|
|
1,336 |
|
|
|
1,167 |
|
|
Property and other taxes |
|
|
535 |
|
|
431 |
|
|
|
418 |
|
|
Impairment of goodwill (Notes 1 and 9) |
|
|
194 |
|
|
36 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses |
|
|
13,212 |
|
|
14,494 |
|
|
|
12,253 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains on Sale of Other Assets, net |
|
|
49 |
|
|
238 |
|
|
|
214 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
|
2,500 |
|
|
3,941 |
|
|
|
3,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income and Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of unconsolidated affiliates (Note 8) |
|
|
220 |
|
|
168 |
|
|
|
103 |
|
|
Gain on sale of equity investments |
|
|
32 |
|
|
— |
|
|
|
407 |
|
|
Other income and expenses, net |
|
|
117 |
|
|
147 |
|
|
|
201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income and expenses |
|
|
369 |
|
|
315 |
|
|
|
711 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense (Notes 7 and 11) |
|
|
1,110 |
|
|
785 |
|
|
|
911 |
|
|
Minority Interest Expense (Notes 13 and 14) |
|
|
107 |
|
|
327 |
|
|
|
307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Before Income Taxes |
|
|
1,652 |
|
|
3,144 |
|
|
|
2,796 |
|
|
Income Taxes (Notes 1 and 6) |
|
|
618 |
|
|
1,150 |
|
|
|
1,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Before Cumulative Effect of Change in Accounting Principle |
|
|
1,034 |
|
|
1,994 |
|
|
|
1,776 |
|
|
Cumulative Effect of Change in Accounting Principle, net of tax
(Note 1) |
|
|
— |
|
|
(96 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
|
1,034 |
|
|
1,898 |
|
|
|
1,776 |
|
|
Preferred and Preference Stock Dividends (Note 15) |
|
|
13 |
|
|
14 |
|
|
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Available For Common Stockholders |
|
$ |
1,021 |
|
$ |
1,884 |
|
|
$ |
1,757 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock Data (Note 1) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares outstanding |
|
|
836 |
|
|
767 |
|
|
|
736 |
|
|
Earnings per share (before cumulative effect of change in
accounting principle) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.22 |
|
$ |
2.58 |
|
|
$ |
2.39 |
|
|
Diluted |
|
$ |
1.22 |
|
$ |
2.56 |
|
|
$ |
2.38 |
|
|
Earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.22 |
|
$ |
2.45 |
|
|
$ |
2.39 |
|
|
Diluted |
|
$ |
1.22 |
|
$ |
2.44 |
|
|
$ |
2.38 |
|
|
Dividends per share |
|
$ |
1.10 |
|
$ |
1.10 |
|
|
$ |
1.10 |
|
|
See Notes to Consolidated Financial Statements.
|
|
