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Item 6. Selected Financial Data.(d)

    2003(b)   2002   2001   2000   1999
    (in millions, except per share amounts)
Statement of Operations                              
Operating revenues   $

22,529

   $

16,189

   $

18,415

   $

16,228

   $

9,909
Operating expenses    

23,154

    

13,482

    

14,728

    

13,112

    

8,337
(Losses) gains on sales of other
   assets, net		    

(199)

    

32

    

238

    

214

    

132
Operating (loss) income    

(824)

    

2,739

    

3,925

    

3,330

    

1,704
Other income and expenses, net    

556

    

379

    

311

    

707

    

314
Interest expense    

1,380

    

1,097

    

760

    

887

    

583
Minority interest expense    

64

    

115

    

327

    

306

    

141
(Loss) earnings from continuing
   operations before income taxes		    

(1,712)

    

1,906

    

3,149

    

2,844

    

1,294
Income tax (benefit) expense
   from continuing operations		    

(707)

    

611

    

1,150

    

1,036

    

456
(Loss) income from continuing
   operations		    

(1,005)

    

1,295

    

1,999

    

1,808

    

838
(Loss) income from discontinued
   operations, net of tax		    

(156)

    

(261)

    

(5)

    

(32)

    

9
(Loss) income before extraordinary
   item and cumulative effect of
   change in accounting principle		    

(1,161)

    

1,034

    

1,994

    

1,776

    

847
Extraordinary gain, net of tax    

—

    

—

    

—

    

—

    

660
Cumulative effect of change in
   accounting principle, net of tax
   and minority interest		    

(162)

    

—

    

(96)

    

—

    

—
Net (loss) income    

(1,323)

    

1,034

    

1,898

    

1,776

    

1,507
Dividends and premiums on
   redemption of preferred and
   preference stock		    

15

    

13

    

14

    

19

    

20
(Loss) earnings available for
   common stockholders		   $

(1,338)

   $

1,021

   $

1,884

   $

1,757

   $

1,487
 
Ratio of Earnings to Fixed Charges    

—(c)

    

2.2

    

3.9

    

3.7

    

2.8
Common Stock Data(a)    

 

    

 

    

 

    

 

    

 
Shares of common stock outstanding    

 

    

 

    

 

    

 

    

 
Year-end    

911

    

895

    

777

    

739

    

733
Weighted average    

903

    

836

    

767

    

736

    

729
(Loss) earnings per share
   (from continuing operations)		    

 

    

 

    

 

    

 

    

 
Basic   $

(1.13)

   $

1.53

   $

2.59

   $

2.43

   $

1.12
Diluted    

(1.13)

    

1.53

    

2.57

    

2.42

    

1.12
(Loss) earnings per share
   (from discontinued operations)		    

 

    

 

    

 

    

 

    

 
Basic   $

(0.17)

   $

(0.31)

   $

(0.01)

   $

(0.04)

   $

0.01
Diluted    

(0.17)

    

(0.31)

    

(0.01)

    

(0.04)

    

0.01
(Loss) earnings per share
   (before extraordinary item and
   cumulative effect of change in
   accounting principle)		    

 

    

 

    

 

    

 

    

 
Basic   $

(1.30)

   $

1.22

   $

2.58

   $

2.39

   $

1.13
Diluted    

(1.30)

    

1.22

    

2.56

    

2.38

    

1.13
(Loss) earnings per share    

 

    

 

    

 

    

 

    

 
Basic   $

(1.48)

   $

1.22

   $

2.45

   $

2.39

   $

2.04
Diluted    

(1.48)

    

1.22

    

2.44

    

2.38

    

2.03
Dividends per share    

1.10

    

1.10

    

1.10

    

1.10

    

1.10
Balance Sheet    

 

    

 

    

 

    

 

    

 
Total assets   $

56,203

   $

60,122

   $

49,624

   $

59,276

   $

34,388
Long-term debt, less current maturities    

20,622

    

20,221

    

12,321

    

10,717

    

8,683

(a) Amounts prior to 2001 were restated to reflect the two-for-one common stock split effective January 26, 2001.

(b) As of January 1, 2003, Duke Energy adopted the remaining provisions of Emerging Issues Task Force Issue No. 02-03, "Issues Involved in Accounting for Derivative Contracts Held for Trading Purposes and for Contracts Involved in Energy Trading and Risk Management Activities" and Statement of Financial Accounting Standards No. 143, "Accounting for Asset Retirement Obligations." In accordance with the transition guidance for these standards, Duke Energy recorded a net-of-tax and minority interest cumulative effect adjustment for change in accounting principles. See Note 1 to the Consolidated Financial Statements, "Summary of Significant Accounting Policies," for further discussion.

(c) Earnings were inadequate to cover fixed charges by $1,706 million for the year ended December 31, 2003.

(d) Certain amounts have been reclassified. See Note 1 to the Consolidated Financial Statements.

Copyright 2009 Duke Energy