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v3.5.0.2

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015
Revenues, net | $ 428 | $ 450 | $ 915 | $ 923
Operating expenses: |  |  |  |
Purchased power and fuel | 126 | 148 | 275 | 309
Generation, transmission and distribution | 64 | 66 | 130 | 128
Administrative and other | 61 | 60 | 122 | 120
Depreciation and amortization | 83 | 76 | 165 | 151
Taxes other than income taxes | 30 | 28 | 60 | 58
Total operating expenses | 364 | 378 | 752 | 766
Income from operations | 64 | 72 | 163 | 157
Interest expense, net | 27 | 28 | 54 | 58
Other income: |  |  |  |
Allowance for equity funds used during construction | 8 | 5 | 15 | 9
Miscellaneous income (expense), net | 1 | 1 | 0 | 2
Other income, net | 9 | 6 | 15 | 11
Income before income tax expense | 46 | 50 | 124 | 110
Income tax expense | 9 | 15 | 26 | 25
Net income and Comprehensive income | $ 37 | $ 35 | $ 98 | $ 85
Weighted-average shares outstanding (in thousands): |  |  |  |
Basic | 88,902 | 80,745 | 88,867 | 79,515
Diluted | 88,902 | 80,745 | 88,867 | 79,515
Earnings per share: |  |  |  |
Basic | $ 0.42 | $ 0.44 | $ 1.10 | $ 1.07
Diluted | 0.42 | 0.44 | 1.10 | 1.07
Dividends declared per common share | $ 0.320 | $ 0.300 | $ 0.62 | $ 0.58

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