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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating revenues    
Electric $ 2,685 $ 2,763
Natural gas 941 1,288
Other 23 29
Total operating revenues 3,649 4,080
Operating expenses    
Electric fuel and purchased power 948 1,117
Cost of natural gas sold and transported 483 844
Cost of sales — other 8 12
Operating and maintenance expenses 605 650
Conservation and demand side management expenses 97 76
Depreciation and amortization 658 624
Taxes, Other 171 184
Total operating expenses 2,970 3,507
Operating income 679 573
Other income, net 14 5
Earnings from equity method investments 8 11
Allowance for funds used during construction — equity 37 19
Interest charges and financing costs    
Interest charges — includes other financing costs 291 253
Allowance for funds used during construction — debt (14) (10)
Total interest charges and financing costs 277 243
Income before income taxes 461 365
Income tax benefit (27) (53)
Net income $ 488 $ 418
Weighted average common shares outstanding:    
Basic (in shares) 556 551
Diluted (in shares) [1] 556 551
Earnings per average common share:    
Basic (in dollars per share) $ 0.88 $ 0.76
Diluted (in dollars per share) $ 0.88 $ 0.76
[1] Diluted common shares outstanding included common stock equivalents of 0.2 million for the three months ended March 31, 2024 and 2023.