ComEd 2006 Annual Report Download - page 65

ComEd
The selected financial data presented below has been derived from the audited consolidated
financial statements of ComEd. This data is qualified in its entirety by reference to and should be read
in conjunction with ComEd’s Consolidated Financial Statements and Management’s Discussion and
Analysis of Financial Condition and Results of Operation included in ITEM 7 of this Report on
Form 10-K.
For the Years Ended December 31,
(in millions) 2006 2005 2004 2003 2002
Statement of Operations data:
Operating revenues ............................... $6,101 $6,264 $5,803 $5,814 $6,124
Operating income (loss) ........................... 555 (12) 1,617 1,567 1,766
Income (loss) before cumulative effect of changes in
accounting principles ............................ $ (112) $ (676) $ 676 $ 702 $ 790
Cumulative effect of a change in accounting principle
(net of income taxes) ............................ — (9) — 5 —
Net income (loss) (a) ............................... $ (112) $ (685) $ 676 $ 707 $ 790
(a) The changes between 2006 and 2005 and between 2005 and 2004 were primarily due to the goodwill impairment charges of
$776 million and $1.2 billion in 2006 and 2005, respectively.
December 31,
(in millions) 2006 2005 2004 2003 2002
Balance Sheet data:
Current assets .............................. $ 1,007 $ 1,024 $ 1,196 $ 1,313 $ 1,049
Property, plant and equipment, net ............. 10,457 9,906 9,463 9,096 8,689
Goodwill, net (a) ............................. 2,694 3,475 4,705 4,719 4,916
Noncurrent regulatory assets .................. 532 280 240 326 515
Other deferred debits and other assets .......... 3,084 2,806 2,077 2,837 1,662
Total assets ................................ $17,774 $17,491 $17,681 $18,291 $16,831
Current liabilities ............................ $ 1,600 $ 2,308 $ 1,764 $ 1,557 $ 2,023
Long-term debt, including long-term debt to
financing trusts (b) ......................... 4,133 3,541 4,282 5,887 5,268
Noncurrent regulatory liabilities ................ 2,824 2,450 2,444 2,217 1,001
Other deferred credits and other liabilities ........ 2,919 2,796 2,451 2,288 2,451
Mandatorily redeemable preferred securities of
subsidiary trusts (b) ......................... ————330
Shareholders’ equity ......................... 6,298 6,396 6,740 6,342 5,758
Total liabilities and shareholders’ equity ......... $17,774 $17,491 $17,681 $18,291 $16,831
(a) The changes between 2006 and 2005 and between 2005 and 2004 were primarily due to the goodwill impairment charges of
$776 million and $1.2 billion in 2006 and 2005, respectively.
(b) Due to the adoption of FIN 46-R in 2003, the mandatorily redeemable preferred securities were reclassified as long-term
debt to financing trusts as of December 31, 2003.
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