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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating revenues        
Electric $ 3,393 $ 3,387 $ 8,737 $ 8,751
Natural gas 239 245 1,535 1,926
Other 12 30 49 87
Total operating revenues 3,644 3,662 10,321 10,764
Operating expenses        
Electric fuel and purchased power 1,060 1,181 2,863 3,328
Cost of natural gas sold and transported 63 70 664 1,084
Cost of sales — other 3 14 12 37
Operating and maintenance expenses 655 586 1,922 1,864
Conservation and demand side management expenses 112 76 295 215
Depreciation and amortization 681 618 2,042 1,807
Taxes, Other 159 168 484 489
Loss on Comanche Unit 3 litigation 0 34 0 34
Total operating expenses 2,733 2,747 8,282 8,858
Operating income 911 915 2,039 1,906
Other income, net 39 3 75 19
Earnings from equity method investments 3 7 19 27
Allowance for funds used during construction — equity 44 26 119 63
Interest charges and financing costs        
Interest charges — includes other financing costs 326 269 936 790
Allowance for funds used during construction — debt (21) (14) (51) (36)
Total interest charges and financing costs 305 255 885 754
Income before income taxes 692 696 1,367 1,261
Income tax expense (benefit) 10 40 (105) (101)
Net income $ 682 $ 656 $ 1,472 $ 1,362
Weighted average common shares outstanding:        
Basic (in shares) 564 552 559 551
Diluted (in shares) [1] 565 552 559 552
Earnings per average common share:        
Basic (in dollars per share) $ 1.21 $ 1.19 $ 2.63 $ 2.47
Diluted (in dollars per share) $ 1.21 $ 1.19 $ 2.63 $ 2.47
[1] Diluted common shares outstanding included common stock equivalents of 0.4 million and 0.3 million for the three months ended Sept. 30, 2024 and 2023, respectively. Diluted common shares outstanding included common stock equivalents of 0.3 million and 0.2 million for the nine months ended Sept. 30, 2024 and 2023.