Consolidated Statements of Operations

    Years Ended December 31,  
(In millions, except per-share amounts)   2006     2005     2004  
Operating Revenues                  
Non-regulated electric, natural gas, natural gas liquids, and other $ 3,158   $ 7,212   $ 11,322  
Regulated electric   7,678     5,406     5,041  
Regulated natural gas and natural gas liquids   4,348     3,679     3,233  
Total operating revenues   15,184     16,297     19,596  

Operating Expenses
                 
Natural gas and petroleum products purchased   1,829     5,827     9,225  
Operation, maintenance and other   4,415     3,540     3,313  
Fuel used in electric generation and purchased power   3,403     1,610     1,576  
Depreciation and amortization   2,049     1,728     1,750  
Property and other taxes   769     571     513  
Impairments and other charges   28     140     64  
Total operating expenses   12,493     13,416     16,441  

Gains on Sales of Investments in Commercial and Multi-Family Real Estate
  201     191     192  

Gains (Losses) on Sales of Other Assets and Other, net
  276     534     (416 )
Operating Income   3,168     3,606     2,931  

Other Income and Expenses
                 
Equity in earnings of unconsolidated affiliates   732     479     161  
(Losses) Gains on sales and impairments of equity investments   (20 )   1,225     (4 )
Gain on sale of subsidiary stock   15          
Other income and expenses, net   281     105     147  
Total other income and expenses   1,008     1,809     304  

Interest Expense
  1,253     1,066     1,282  
Minority Interest Expense   61     538     200  

Earnings From Continuing Operations Before Income Taxes
  2,862     3,811     1,753  
Income Tax Expense from Continuing Operations   843     1,282     507  

Income From Continuing Operations
  2,019     2,529     1,246  

(Loss) Income From Discontinued Operations, net of tax
  (156 )   (701 )   244  

Income Before Cumulative Effect of Change in Accounting Principle
  1,863     1,828     1,490  
Cumulative Effect of Change in Accounting Principle, net of tax and minority interest       (4 )    

Net Income
  1,863     1,824     1,490  

Dividends and Premiums on Redemption of Preferred and Preference Stock
      12     9  

Earnings Available For Common Stockholders
$ 1,863   $ 1,812   $ 1,481  

Common Stock Data
                 
Weighted-average shares outstanding                  
Basic   1,170     934     931  
Diluted   1,188     970     966  
Earnings per share (from continuing operations)                  
Basic $ 1.73   $ 2.69   $ 1.33  
Diluted $ 1.70   $ 2.60   $ 1.29  
(Loss) earnings per share (from discontinued operations)                  
Basic $ (0.14 ) $ (0.75 ) $ 0.26  
Diluted $ (0.13 ) $ (0.72 ) $ 0.25  
Earnings per share (before cumulative effect of change in accounting principle)                  
Basic $ 1.59   $ 1.94   $ 1.59  
Diluted $ 1.57   $ 1.88   $ 1.54  
Earnings per share                  
Basic $ 1.59   $ 1.94   $ 1.59  
Diluted $ 1.57   $ 1.88   $ 1.54  
Dividends per share $ 1.26   $ 1.17   $ 1.10  

 

See Notes to Consolidated Financial Statements in Duke Energy’s 2006 Form 10-K.