ComEd 2006 Annual Report Download - page 178

PECO Energy Company and Subsidiary Companies
Consolidated Statements of Operations
For the Years Ended
December 31,
(in millions) 2006 2005 2004
Operating revenues
Operating revenues .......................................... $5,153 $4,893 $4,468
Operating revenues from affiliates .............................. 15 17 19
Total operating revenues .................................. 5,168 4,910 4,487
Operating expenses
Purchased power ............................................ 293 248 197
Purchased power from affiliate ................................. 1,811 1,670 1,447
Fuel ....................................................... 598 596 511
Fuel from affiliate ............................................ — 1 17
Operating and maintenance .................................... 498 440 440
Operating and maintenance from affiliates ........................ 130 109 107
Depreciation and amortization .................................. 710 566 518
Taxes other than income ...................................... 262 231 236
Total operating expenses .................................. 4,302 3,861 3,473
Operating income ............................................... 866 1,049 1,014
Other income and deductions
Interest expense ............................................. (73) (56) (56)
Interest expense to affiliates, net ................................ (193) (223) (247)
Equity in losses of unconsolidated affiliates ....................... (9) (16) (25)
Other, net .................................................. 30 13 18
Total other income and deductions .......................... (245) (282) (310)
Income before income taxes and cumulative effect of a change in
accounting principle .......................................... 621 767 704
Income taxes ................................................... 180 247 249
Income before cumulative effect of a change in accounting
principle ..................................................... 441 520 455
Cumulative effect of a change in accounting principle (net of income
taxes of $0, ($2) and $0, respectively) ........................... — (3) —
Net income .................................................... 441 517 455
Preferred stock dividends ....................................... 4 4 3
Net income on common stock .................................... $ 437 $ 513 $ 452
See Combined Notes to Consolidated Financial Statements
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