| Three Months Ended December 31, |
Twelve Months Ended December 31, |
|||||||||||||
| (in millions, except per share amounts) |
2001 |
2000 |
2001 |
2000 |
||||||||||
| BASIC EARNINGS PER SHARE (EPS)(1) |
||||||||||||||
| Earnings available for common stock |
$ |
529 |
$ |
(4,117 |
) |
$ |
1,099 |
$ |
(3,364 |
) | ||||
| |
|
|
|
|
|
|
|
|
| |||||
| Weighted average common shares outstanding(2) |
|
363 |
|
363 |
|
|
363 |
|
362 |
| ||||
| |
|
|
|
|
|
|
|
|
| |||||
| Basic EPS |
$ |
1.46 |
$ |
(11.34 |
) |
$ |
3.03 |
$ |
(9.29 |
) | ||||
| |
|
|
|
|
|
|
|
|
| |||||
| DILUTED EARNINGS PER SHARE (EPS)(1) |
||||||||||||||
| Earnings available for common stock |
$ |
529 |
$ |
(4,117 |
) |
$ |
1,099 |
$ |
(3,364 |
) | ||||
| |
|
|
|
|
|
|
|
|
| |||||
| Weighted average common shares outstanding |
|
363 |
|
363 |
|
|
363 |
|
362 |
| ||||
| Add: outstanding options, reduced by the number of shares that could be repurchased with the proceeds from such exercise (at average
market price) |
|
3 |
|
— |
|
|
1 |
|
— |
| ||||
| |
|
|
|
|
|
|
|
|
| |||||
| Weighted average common shares outstanding as adjusted |
|
366 |
|
363 |
|
|
364 |
|
362 |
| ||||
| |
|
|
|
|
|
|
|
|
| |||||
| Diluted EPS(3) |
$ |
1.45 |
$ |
(11.34 |
) |
$ |
3.02 |
$ |
(9.29 |
) | ||||
| |
|
|
|
|
|
|
|
|
| |||||
(1) |
This presentation is submitted in accordance with Item 601(b)(11) of Regulation S-K and Statement of Financial Accounting Standards No. 128.
|
(2) |
Weighted average common shares outstanding exclude shares held by a subsidiary of PG&E Corporation (23,815,500 shares at December 31, 2001 and 2000,
respectively) and shares held by the Company in a trust to secure deferred compensation obligations (281,985 shares at December 31, 2001 and 2000, respectively). |
(3) |
The diluted shares for the three months and year ended December 31, 2000 exclude 3 million and 2 million shares, respectively, due to the anti-dilution effects
of the loss from continuing operations. |