Exelon 2015 Annual Report Download - page 208

Table of Contents
Exelon Corporation and Subsidiary Companies
Consolidated Statements of Operations and Comprehensive Income
For the Years Ended
December 31,
(In millions, except per share data) 2015 2014 2013
Operating revenues
Competitive businesses revenues $18,395 $16,637 $14,277
Rate-regulated utility revenues 11,052 10,792 10,611
Total operating revenues 29,447 27,429 24,888
Operating expenses
Competitive businesses purchased power and fuel 10,007 9,369 6,928
Rate-regulated utility purchased power and fuel 3,077 3,103 2,540
Purchased power and fuel from affiliates — 531 1,256
Operating and maintenance 8,322 8,568 7,270
Depreciation and amortization 2,450 2,314 2,153
Taxes other than income 1,200 1,154 1,095
Total operating expenses 25,056 25,039 21,242
Equity in (losses) earnings of unconsolidated affiliates — (20) 10
Gain on sales of assets 18 437 13
Gain on consolidation and acquisition of businesses — 289 —
Operating income 4,409 3,096 3,669
Other income and (deductions)
Interest expense, net (992) (1,024) (1,315)
Interest expense to affiliates, net (41) (41) (41)
Other, net (46) 455 460
Total other income and (deductions) (1,079) (610) (896)
Income before income taxes 3,330 2,486 2,773
Income taxes 1,073 666 1,044
Equity in losses of unconsolidated affiliates (7) — —
Net income 2,250 1,820 1,729
Net income (loss) attributable to noncontrolling interest and preference stock dividends (19) 197 10
Net income attributable to common shareholders $ 2,269 $ 1,623 $ 1,719
Comprehensive income, net of income taxes
Net income $ 2,250 $ 1,820 $ 1,729
Other comprehensive income (loss), net of income taxes
Pension and non-pension postretirement benefit plans:
Prior service benefit reclassified to periodic benefit cost (46) (30) —
Actuarial loss reclassified to periodic benefit cost 220 147 208
Pension and non-pension postretirement benefit plan valuation adjustment (99) (497) 669
Unrealized gain (loss) on cash flow hedges 9 (148) (248)
Unrealized gain on marketable securities — 1 2
Unrealized gain (loss) on equity investments (3) 8 106
Unrealized loss on foreign currency translation (21) (9) (10)
Reversal of CENG equity method AOCI — (116) —
Other comprehensive income (loss) 60 (644) 727
Comprehensive income $ 2,310 $ 1,176 $ 2,456
Average shares of common stock outstanding:
Basic 890 860 856
Diluted 893 864 860
Earnings per average common share:
Basic $ 2.55 $ 1.89 $ 2.01
Diluted $ 2.54 $ 1.88 $ 2.00
Dividends per common share $ 1.24 $ 1.24 $ 1.46
See the Combined Notes to Consolidated Financial Statements
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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