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.
