Dominion Power 2000 Annual Report Download - page 27

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25
For The Year Ended December 31,
(millions, except per share amounts) 2000 1999 1998
Operating revenue and income:
Regulated sales
Electric $4,492 $4,227 $3,979
Gas 1,374
Nonregulated sales
Electric 97 180 190
Gas 593
Gas transportation and storage 486
Oil and gas production 856 218 141
East Midlands 1,010
Other 1,362 895 761
Total 9,260 5,520 6,081
Expenses:
Fuel, net 1,106 996 961
Purchased power capacity, net 741 809 806
Purchased gas, net 1,453
Liquids, capacity and other products purchased 299
Supply and distribution
—
East Midlands 655
Restructuring and other acquisition-related costs 460
Impairment of regulatory assets 159
Other operation and maintenance 2,011 1,376 1,357
Depreciation, depletion and amortization 1,176 707 733
Other taxes 485 304 306
Total 7,731 4,192 4,977
Income from operations 1,529 1,328 1,104
Other income:
Gain on sale
—
East Midlands 332
Other 95 75 99
Total 95 75 431
Income before interest and income taxes 1,624 1,403 1,535
Interest and related charges:
Interest charges 958 507 583
Preferred dividends and distributions of subsidiary trusts 66 67 65
Total 1,024 574 648
Income before income taxes, minority interests, extraordinary item
and cumulative effect of a change in accounting principle 600 829 887
Income taxes 183 259 312
Minority interests 218 27
Income before extraordinary item and cumulative effect of a change in accounting principle 415 552 548
Extraordinary item (net of income taxes of $197) (255)
Cumulative effect of a change in accounting principle (net of income taxes of $11) 21
Net income $ 436 $ 297 $ 548
Average shares of common stock
—
basic 235.2 191.4 194.9
Basic earnings per common share:
Income before extraordinary item and cumulative effect of a change in accounting principle $ 1.76 $ 2.88 $ 2.81
Extraordinary item (1.33)
Cumulative effect of a change in accounting principle 0.09
Net income $ 1.85 $ 1.55 $ 2.81
Average shares of common stock
—
diluted 235.9 191.4 194.9
Diluted earnings per share:
Income before extraordinary item and cumulative effect of a change in accounting principle $ 1.76 $ 2.81 $ 2.81
Extraordinary item (1.33)
Cumulative effect of a change in accounting principle 0.09
Net income $ 1.85 $ 1.48 $ 2.81
Dividends paid per common share $ 2.58 $ 2.58 $ 2.58
The accompanying notes are an integral part of the Consolidated Financial Statements.
Consolidated Statements of Income