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56
Changes in Diluted Earnings Per Share
The following tables summarize significant components contributing to the changes in the diluted earnings per share compared
with prior periods, which are discussed in more detail later.
Diluted Earnings (Loss) Per Share Dec. 31,
2009 GAAP diluted earnings per share .................................................................... $1.48
PSRI ...................................................................................................... 0.01
2009 diluted earnings per share from continuing operations ................................................ 1.49
Loss per share from discontinued operations .................................................................. 0.01
2009 ongoing diluted earnings per share ................................................................... 1.50
Components of change — 2010 vs. 2009
Higher electric margins ................................................................................... 0.55
Higher natural gas margins ............................................................................... 0.03
Higher operating and maintenance expenses ................................................................ (0.20)
Higher conservation and DSM expenses (partially offset in revenues) ........................................ (0.08)
Higher depreciation and amortization ...................................................................... (0.05)
Lower AFUDC — equity ................................................................................. (0.04)
Higher taxes (other than income taxes) ..................................................................... (0.03)
Dilution from DRIP, benefit plans and the 2010 common equity issuance ..................................... (0.02)
Higher interest charges ................................................................................... (0.02)
Other, net ............................................................................................... (0.02)
2010 ongoing diluted earnings per share ................................................................... 1.62
COLI settlement, PSRI, and Medicare Part D ................................................................. (0.01)
2010 diluted earnings per share from continuing operations ................................................ 1.61
Earnings per share from discontinued operations .............................................................. 0.01
2010 GAAP diluted earnings per share .................................................................... $1.62
Diluted Earnings (Loss) Per Share Dec. 31,
2008 GAAP diluted earnings per share .................................................................... $1.46
PSRI ...................................................................................................... (0.01)
2008 ongoing diluted earnings per share ................................................................... 1.45
Components of change — 2009 vs. 2008
Higher electric margins ................................................................................... 0.44
Lower natural gas margins ................................................................................ (0.02)
Higher equity earnings of unconsolidated subsidiaries ....................................................... 0.02
Higher operating and maintenance expenses ................................................................ (0.19)
Higher conservation and DSM expenses (partially offset in revenues) ........................................ (0.09)
Lower other income (expense), net ........................................................................ (0.03)
Higher taxes, other than income taxes ...................................................................... (0.03)
Dilution from DRIP, benefit plan and the 2008 common equity issuance ...................................... (0.05)
2009 ongoing diluted earnings per share ................................................................... 1.50
PSRI ...................................................................................................... (0.01)
2009 diluted earnings per share from continuing operations ................................................ 1.49
Diluted loss per share from discontinued operations ........................................................... (0.01)
2009 GAAP diluted earnings per share .................................................................... $1.48