PG&E 2009 Annual Report Download - page 53

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CONSOLIDATED STATEMENTS OF INCOME
PG&E Corporation
Year Ended December 31,
(in millions, except per share amounts) 2009 2008 2007
Operating Revenues
Electric $10,257 $10,738 $ 9,480
Natural gas 3,142 3,890 3,757
Total operating revenues 13,399 14,628 13,237
Operating Expenses
Cost of electricity 3,711 4,425 3,437
Cost of natural gas 1,291 2,090 2,035
Operating and maintenance 4,346 4,201 3,881
Depreciation, amortization, and decommissioning 1,752 1,651 1,770
Total operating expenses 11,100 12,367 11,123
Operating Income 2,299 2,261 2,114
Interest income 33 94 164
Interest expense (705) (728) (762)
Other income (expense), net 67 (4) 43
Income Before Income Taxes 1,694 1,623 1,559
Income tax provision 460 425 539
Income from Continuing Operations 1,234 1,198 1,020
Discontinued Operations
NEGT income tax benefit —154 —
Net Income 1,234 1,352 1,020
Preferred stock dividend requirement of subsidiary 14 14 14
Income Available for Common Shareholders $ 1,220 $ 1,338 $ 1,006
Weighted Average Common Shares Outstanding, Basic 368 357 351
Weighted Average Common Shares Outstanding, Diluted 386 358 353
Earnings Per Common Share from Continuing Operations, Basic $ 3.25 $ 3.23 $ 2.79
Net Earnings Per Common Share, Basic $ 3.25 $ 3.64 $ 2.79
Earnings Per Common Share from Continuing Operations, Diluted $ 3.20 $ 3.22 $ 2.78
Net Earnings Per Common Share, Diluted $ 3.20 $ 3.63 $ 2.78
Dividends Declared Per Common Share $ 1.68 $ 1.56 $ 1.44
See accompanying Notes to the Consolidated Financial Statements.
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