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Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES:        
Total revenues [1] $ 3,064 $ 2,910 $ 8,551 $ 8,247
OPERATING EXPENSES:        
Fuel 137 126 404 396
Purchased power 876 774 2,393 2,215
Other operating expenses 739 652 2,363 1,958
Provision for depreciation 283 261 843 765
Amortization (deferral) of regulatory assets, net 67 113 (188) 274
General taxes 252 238 746 703
Impairment of assets 0 13 0 13
Total operating expenses 2,354 2,177 6,561 6,324
OPERATING INCOME 710 733 1,990 1,923
OTHER INCOME (EXPENSE):        
Miscellaneous income, net 49 19 164 44
Interest expense (255) (262) (858) (751)
Capitalized financing costs 16 13 47 39
Total other expense (190) (230) (647) (668)
INCOME BEFORE INCOME TAXES 520 503 1,343 1,255
INCOME TAXES 133 202 503 483
INCOME FROM CONTINUING OPERATIONS 387 301 840 772
Discontinued operations (Note 3)(2) [2] (845) 95 370 3
NET INCOME (LOSS) (458) 396 1,210 775
INCOME ALLOCATED TO PREFERRED STOCKHOLDERS (Note 4) 54 0 357 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (512) $ 396 $ 853 $ 775
EARNINGS PER SHARE OF COMMON STOCK (Note 4):        
Basic - Continuing Operations (in dollars per share) $ 0.66 $ 0.68 $ 1.00 $ 1.74
Basic - Discontinued Operations (in dollars per share) (1.68) 0.21 0.76 0.01
Basic - Net Income Attributable to Common Stockholders (in dollars per share) (1.02) 0.89 1.76 1.75
Diluted - Continuing Operations (in dollars per share) 0.66 0.68 0.99 1.73
Diluted - Discontinued Operations (in dollars per share) (1.68) 0.21 0.76 0.01
Diluted - Net Income Attributable to Common Stockholders (in dollars per share) $ (1.02) $ 0.89 $ 1.75 $ 1.74
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:        
Basic, in shares 503 444 485 444
Diluted, in shares 505 446 487 445
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK, in dollars per share $ 0.72 $ 0.72 $ 1.44 $ 1.44
Excise taxes collected $ 104 $ 102 $ 293 $ 293
Income tax expense (benefit) (354) 37 (1,300) (1)
Distribution Services and Retail Generation [Member]        
REVENUES:        
Total revenues 2,463 2,334 6,807 6,558
Transmission [Member]        
REVENUES:        
Total revenues 341 337 996 968
Other [Member]        
REVENUES:        
Total revenues $ 260 $ 239 $ 748 $ 721
[1] Includes excise tax collections of $104 million and $102 million in the three months ended September 30, 2018 and 2017, respectively, and $293 million in the nine months ended September 30, 2018 and 2017.
[2] Net of income tax expense (benefit) of $(354) million and $37 million for the three months ended September 30, 2018 and 2017, respectively, and income tax benefits of $(1.3) billion and $(1) million for the nine months ended September 30, 2018 and 2017, respectively.