Exelon 2014 Annual Report Download - page 126

Exelon Corporation and Subsidiary Companies
Consolidated Statements of Operations and Comprehensive Income
For the Years Ended
December 31,
(In millions, except per share data) 2014 2013 2012
Operating revenues $27,429 $24,888 $23,489
Operating expenses
Purchased power and fuel 12,472 9,468 9,121
Purchased power and fuel from affiliates 531 1,256 1,036
Operating and maintenance 8,568 7,270 7,961
Depreciation and amortization 2,314 2,153 1,881
Taxes other than income 1,154 1,095 1,019
Total operating expenses 25,039 21,242 21,018
Equity in (losses) earnings of unconsolidated affiliates (20) 10 (91)
Gain (loss) on sales of assets 437 13 (7)
Gain on consolidation and acquisition of businesses 289 — —
Operating income 3,096 3,669 2,373
Other income and (deductions)
Interest expense, net (1,024) (1,315) (891)
Interest expense to affiliates, net (41) (41) (37)
Other, net 455 460 353
Total other income and (deductions) (610) (896) (575)
Income before income taxes 2,486 2,773 1,798
Income taxes 666 1,044 627
Net income 1,820 1,729 1,171
Net income attributable to noncontrolling interest, preferred security dividends and
preference stock dividends 197 10 11
Net income attributable to common shareholders 1,623 1,719 1,160
Comprehensive income (loss), net of income taxes
Net income 1,820 1,729 1,171
Other comprehensive income (loss), net of income taxes
Pension and non-pension postretirement benefit plans:
Prior service (benefit) cost reclassified to periodic benefit cost (30) — 1
Actuarial loss reclassified to periodic cost 147 208 168
Transition obligation reclassified to periodic cost — — 2
Pension and non-pension postretirement benefit plan valuation adjustment (497) 669 (371)
Unrealized loss on cash flow hedges (148) (248) (120)
Unrealized gain on marketable securities 1 2 2
Unrealized gain on equity investments 8 106 1
Unrealized loss on foreign currency translation (9) (10) —
Reversal of CENG equity method AOCI (116) — —
Other comprehensive (loss) income (644) 727 (317)
Comprehensive income $ 1,176 $ 2,456 $ 854
Average shares of common stock outstanding:
Basic 860 856 816
Diluted 864 860 819
Earnings per average common share:
Basic $ 1.89 $ 2.01 $ 1.42
Diluted $ 1.88 $ 2.00 $ 1.42
Dividends per common share $ 1.24 $ 1.46 $ 2.10
See the Combined Notes to Consolidated Financial Statements
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