Dominion Power 2005 Annual Report Download - page 2

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Years Ended December 31, 2005 2004 %Change
Operating Results (millions)
Operating revenue $ 18,041 $ 13,991 28.9%
Reported earnings (GAAP) 1,033 1,249 -17.3%
Operating earnings* 1,558 1,523 2.3%
Net cash provided by operating activities 2,623 2,770 -5.3%
Data Per Common Share
Reported earnings (GAAP) $ 3.00 $ 3.78 -20.6%
Operating earnings* $ 4.53 $ 4.61 -1.7%
Dividends paid $ 2.68 $ 2.60 3.1%
Market value (intraday high) $ 86.97 $ 68.85 26.3%
Market value (intraday low) $ 66.51 $ 60.78 9.4%
Market value (year-end) $ 77.20 $ 67.74 14.0%
Book value (year-end) $ 29.93 $ 33.59 -10.9%
Market to book value (year-end) 2.58 2.02 27.9%
Financial Position (millions)
Total assets $ 52,660 $ 45,418 15.9%
Total debt 18,601 17,448 6.6%
Common shareholders’ equity 10,397 11,426 -9.0%
Equity market capitalization 26,824 23,044 16.4%
Other Statistics (shares in millions)
Return on average common equity–reported 9.7% 11.8%
Return on average common equity–operating* 14.6% 14.4%
Common shares outstanding–average, diluted 344.4 330.5
Common shares outstanding–year-end 347.5 340.2
Number of full-time employees 17,400 16,500
*Based on Non-GAAP Financial Measures. See page 25.
Consolidated Financial Highlights
A straightforward strategy:
On the cover: Dominion was the first out-of-state utility to send crews to the New Orleans area after Hurricane
Katrina struck the Gulf Coast August 29. First our crews restored electricity to the Louis Armstrong
New Orleans International Airport, a hospital and state trooper headquarters; then they re-strung power lines
in residential neighborhoods near Lake Pontchartrain.
Page 1: Manufacturing—The Manchester Street Power Station in Providence, R.I., is a three-unit,
432-megawatt combined-cycle facility fired by natural gas with oil back up.
Transportation—Dominion plans to nearly double the storage capacity of the Cove Point liquefied natural gas
facility on the Chesapeake Bay to help meet growing natural gas demand on the East Coast.
Retail—Jeff Geis, one of 18 Dominion foresters who oversee almost 34,000 miles of power lines, ensures
that tree trimming specifications are being met.