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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues (Note L) $ 4,189 $ 5,914 $ 12,442 $ 17,355
Cost of sales and fuel (exclusive of items shown separately below) 2,799 4,773 8,628 14,017
Operations and maintenance 308 238 833 683
Depreciation and amortization 177 157 509 469
General taxes 44 48 148 144
Transaction costs (Note B) 123 0 133 0
Other operating (income) expense, net (Note C) (1) (2) (782) (9)
Operating income 739 700 2,973 2,051
Equity in net earnings from investments (Note J) 49 39 132 111
Other income (expense), net 22 (8) 43 (30)
Interest expense (net of capitalized interest of $8, $17, $32, and $42, respectively) (215) (167) (561) (510)
Income before income taxes 595 564 2,587 1,622
Income taxes (141) (132) (616) (385)
Net income 454 432 1,971 1,237
Less: Preferred stock dividends 1 1 1 1
Net income available to common shareholders $ 453 $ 431 $ 1,970 $ 1,236
Basic earnings per common share (in dollars per share) $ 0.99 $ 0.96 $ 4.37 $ 2.76
Diluted earnings per common share (in dollars per share) $ 0.99 $ 0.96 $ 4.36 $ 2.76
Average shares (millions)        
Basic (in shares) 457.3 447.7 451.2 447.4
Diluted (in shares) 458.2 448.2 452.1 448.3
Commodity sales        
Revenues        
Total revenues (Note L) $ 3,760 $ 5,564 $ 11,287 $ 16,320
Services        
Revenues        
Total revenues (Note L) $ 429 $ 350 $ 1,155 $ 1,035