ComEd 2001 Annual Report Download - page 55

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53
Consolidated Statements of Income
Exelon Corporation and Subsidiary Companies
For the Years Ended December 31,
in millions, except per share data 2001 2000 1999
Operating Revenues $ 15,140 $ 7,499 $ 5,478
Operating Expenses
Fuel and Purchased Power 5,313 2,606 2,152
Operating and Maintenance 4,393 2,310 1,454
Merger-Related Costs –276 –
Depreciation and Amortization 1,449 458 237
Taxes Other Than Income 623 322 262
Total Operating Expenses 11,778 5,972 4,105
Operating Income 3,362 1,527 1,373
Other Income and Deductions
Interest Expense, net of amounts capitalized (1,107) (608) (396)
Distributions on Preferred Securities of Subsidiaries (49) (24) (33)
Equity in Earnings (Losses) of Unconsolidated Affiliates 62 (41) (38)
Other, Net 79 53 59
Total Other Income and Deductions (1,015) (620) (408)
Income Before Income Taxes, Extraordinary Items and
Cumulative Effect of Changes in Accounting Principles 2,347 907 965
Income Taxes 931 341 358
Income Before Extraordinary Items and Cumulative Effects
of Changes in Accounting Principles 1,416 566 607
Extraordinary Items (net of income taxes of $2, and
$25 for 2000, and 1999, respectively) –(4) (37)
Cumulative Effect of Changes in Accounting Principles
(net of income taxes of $ 8 and $16 in 2001 and 2000, respectively) 12 24 –
Net Income $1,428 $ 586 $ 570
Average Shares of Common Stock Outstanding 320 202 196
Earnings Per Common Share:
Basic:
Income Before Extraordinary Items and Cumulative
Effects of Changes in Accounting Principles $ 4.42 $ 2.81 $ 3.10
Extraordinary Items –(0.02) (0.19)
Cumulative Effect of Changes in Accounting Principles 0.04 0.12 –
Net Income $4.46$2.91 $ 2.91
Diluted:
Income Before Extraordinary Items and Cumulative
Effects of Changes in Accounting Principles $ 4.39 $ 2.77 $ 3.08
Extraordinary Items –(0.02) (0.19)
Cumulative Effect of Changes in Accounting Principles 0.04 0.12 –
Net Income $4.43$2.87 $ 2.89
Dividends Per Common Share $1.82 $ 0.91 $ 1.00
See Notes to Consolidated Financial Statements