Exelon 2003 Annual Report Download - page 135

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133Notes to Consolidated Financial Statements
EXELON CORPORATION AND SUBSIDIARY COMPANIES
Average Diluted
Shares
Outstanding (in
millions)
Earnings (Loss)
per Diluted
Share Before the
Cumulative
Effect of
Changes in
Accounting
Principles
Net Income (Loss)
per Diluted Share
2003 2002 2003 2002 2003 2002
Quarter ended:
March 31 326 323 $ 0.77 $0.73 $ 1.11 $0.02
June 30 327 324 1.14 1.50 1.14 1.50
September 30 326 324 (0.31) 1.70 (0.31) 1.70
December 31 331 325 0.83 1.22 0.83 1.22
The following table presents the New York Stock Exchange—Composite Common Stock Prices and dividends by quarter on a
per share basis:
2003 2002
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
High price $66.62 $63.95 $60.91 $ 55.20 $53.06 $52.83 $56.99 $53.88
Low price 60.95 54.18 49.65 46.08 42.38 37.85 50.10 45.90
Close 66.36 63.50 59.81 50.41 52.77 47.50 52.30 52.97
Dividends 0.50 0.50 0.46 0.46 0.44 0.44 0.44 0.44
NOTE 24 • SUBSEQUENT EVENTS
On January 15, 2004, ComEd redeemed at maturity $26 mil-
lion of its 5.30% pollution control bonds collateralized by first
mortgage bonds. The proceeds from an issuance of $20 mil-
lion of pollution control bonds in December 2003 and avail-
able cash were used to redeem these bonds.
On January 15, 2004, ComEd redeemed at maturity $150
million of its 7.375% notes.
In January 2004, the counterparties to the interest-rate
swap agreements with Boston Generating, which had effec-
tively fixed the interest rate on $861 million of notional
principal related to the Boston Generating Facility, termi-
nated the interest-rate swaps. The total net value of these
interest-rate swaps as of the respective termination dates
was $82 million, which is a net payable to the counterparties.
On January 27, 2004, the Board of Directors of Exelon de-
clared a regular quarterly dividend of $0.55 per share on
Exelon’s common stock and approved a 2-for-1 stock split of
Exelon’s common stock. The stock split will be effective after
the receipt of all necessary regulatory approvals and the fil-
ing of an amendment to Exelon’s articles of incorporation
with the Commonwealth of Pennsylvania and notification to
the New York Stock Exchange. No record date for the stock
split has been set. As the stock split is not effective, the share
and per-share amounts included in Exelon’s consolidated
financial statements have not been adjusted to reflect the
stock split.