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Discussion฀of฀Financial฀Results฀-฀Exelon
26
Results฀of฀Operations
฀ Favorable
(Unfavorable)
(Dollars฀in฀millions,฀except฀for฀per฀share฀data,฀unless฀otherwise฀noted)฀ ฀ ฀ 2008฀ 2007฀฀ Variance
Operating฀revenues฀฀ $฀ 18,859฀ $฀ 18,916฀ $฀ (57)฀
Operating฀expenses฀
฀ Purchased฀power฀and฀fuel฀ ฀ 6,582฀ ฀ 7,642฀ ฀ 1,060
฀ Operating฀and฀maintenance฀ ฀ 4,566฀ ฀ 4,289฀ ฀ (277)
฀ Depreciation฀and฀amortization฀ ฀ 1,634฀ ฀ 1,520฀ ฀ (114)
฀ Taxes฀other฀than฀income฀ ฀ 778฀ ฀ 797฀ ฀ 19
฀ Total฀operating฀expenses฀ ฀ 13,560฀ ฀ 14,248฀ ฀ 688
Operating฀income฀฀ ฀ 5,299฀ ฀ 4,668฀ ฀ 631
Other฀income฀and฀deductions฀ ฀฀ ฀฀ ฀
฀ Interest฀expense฀ ฀ (699)฀ ฀ (647)฀ ฀ (52)
฀ Interest฀expense฀to฀afliates,฀net฀฀ ฀ (133)฀ ฀ (203)฀ ฀ 70
฀ Equity฀in฀losses฀of฀unconsolidated฀afliates฀ ฀ (26)฀ ฀ (106)฀ ฀ 80
฀ Other,฀net฀ ฀ (407)฀ ฀ 460฀ ฀ (867)
฀ Total฀other฀income฀and฀deductions฀฀ ฀ (1,265)฀ ฀ (496)฀ ฀ (769)
Income฀from฀continuing฀operations฀before฀income฀taxes฀ ฀ 4,034฀ ฀ 4,172฀ ฀ (138)฀
Income฀taxes฀ ฀ 1,317฀ ฀ 1,446฀ ฀ 129
Income฀from฀continuing฀operations฀ ฀ 2,717฀ ฀ 2,726฀ ฀ (9)
Income฀from฀discontinued฀operations,฀net฀of฀income฀taxes฀ ฀ 20฀ ฀ 10฀ ฀ 10
Net฀income฀ $฀ 2,737฀ $฀ 2,736฀ $฀ 1
Diluted฀earnings฀per฀share฀ $฀ 4.13฀ $฀ 4.05฀ $฀ 0.08
฀