PG&E 2011 Annual Report Download - page 54
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PG&E Corporation
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
Year ended December 31,
2011 2010 2009
Operating Revenues
Electric ........................................................ $11,606 $10,645 $10,257
Natural gas ...................................................... 3,350 3,196 3,142
Total operating revenues .......................................... 14,956 13,841 13,399
Operating Expenses
Cost of electricity ................................................. 4,016 3,898 3,711
Cost of natural gas ................................................ 1,317 1,291 1,291
Operating and maintenance .......................................... 5,466 4,439 4,346
Depreciation, amortization, and decommissioning .......................... 2,215 1,905 1,752
Total operating expenses .......................................... 13,014 11,533 11,100
Operating Income .................................................. 1,942 2,308 2,299
Interest income ................................................... 7 9 33
Interest expense .................................................. (700) (684) (705)
Other income, net ................................................. 49 27 67
Income Before Income Taxes ........................................... 1,298 1,660 1,694
Income tax provision ............................................... 440 547 460
Net Income ....................................................... 858 1,113 1,234
Preferred stock dividend requirement of subsidiary ......................... 14 14 14
Income Available for Common Shareholders ............................... $ 844 $ 1,099 $ 1,220
Weighted Average Common Shares Outstanding, Basic ........................ 401 382 368
Weighted Average Common Shares Outstanding, Diluted ...................... 402 392 386
Net Earnings Per Common Share, Basic .................................. $ 2.10 $ 2.86 $ 3.25
Net Earnings Per Common Share, Diluted ................................. $ 2.10 $ 2.82 $ 3.20
Dividends Declared Per Common Share .................................. $ 1.82 $ 1.82 $ 1.68
See accompanying Notes to the Consolidated Financial Statements.
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