Dominion Power 2001 Annual Report Download - page 27

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CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
(millions, except per share amounts) 2001 2000 1999
Operating Revenue
Regulated sales
Electric $ 4,619 $4,492 $4,230
Gas 1,409 1,374
—
Nonregulated sales
Electric 701 318 346
Gas 1,116 671
—
Gas transportation and storage 702 486
—
Gas and oil production 1,118 857 251
Other 893 1,048 693
Total 10,558 9,246 5,520
Operating Expenses
Electric fuel and energy purchases, net 1,369 1,106 996
Purchased electric capacity 680 741 809
Purchased gas, net 1,822 1,453
—
Liquids, pipeline capacity and other purchases 219 299
—
Restructuring and other acquisition-related costs 105 460
—
Other operations and maintenance 2,938 2,011 1,376
Depreciation, depletion and amortization 1,245 1,176 707
Other taxes 395 485 304
Total 8,773 7,731 4,192
Income from operations 1,785 1,515 1,328
Other income 126 109 75
Interest and related charges
Interest expense 899 958 507
Subsidiary preferred dividends and distributions of subsidiary trusts 98 66 67
Total 997 1,024 574
Income before income taxes and minority interests 914 600 829
Income taxes 370 183 259
Minority interests
—
218
Income before extraordinary item and cumulative effect of a change in accounting principle 544 415 552
Extraordinary item (net of income taxes of $197)
——
(255)
Cumulative effect of a change in accounting principle (net of income taxes of $11)
—
21
—
Net Income $ 544 $ 436 $ 297
Earnings Per Common Share
—
Basic
Income before extraordinary item and cumulative effect of a change in accounting principle $ 2.17 $ 1.76 $ 2.88
Extraordinary item
——
(1.33)
Cumulative effect of a change in accounting principle
—
0.09
—
Net income $ 2.17 $ 1.85 $ 1.55
Earnings Per Common Share
—
Diluted
Income before extraordinary item and cumulative effect of a change in accounting principle $ 2.15 $ 1.76 $ 2.81
Extraordinary item
——
(1.33)
Cumulative effect of a change in accounting principle
—
0.09
—
Net income $ 2.15 $ 1.85 $ 1.48
Dividends paid per common share $ 2.58 $ 2.58 $ 2.58
The accompanying notes are an integral part of the Consolidated Financial Statements.
25